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Gold Feb '24 (GCG24)
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Gold Futures Market News and Commentary

Dollar Edges Lower and Gold Soars on Weak U.S. Economic News

The dollar index (DXY00) on Friday fell by -0.25%.  The dollar retreated from a 1-1/2 week high Friday and posted moderate losses on weaker-than-expected U.S. economic news on Feb ISM manufacturing, Jan construction spending, and the University of Michigan U.S. Feb consumer sentiment.  A decline in T-note yields Friday also weighed on the dollar.

The U.S. Feb ISM manufacturing index unexpectedly fell -1.3 to 47.8, weaker than expectations of an increase to 49.5. 

U.S. Jan construction spending unexpectedly fell -0.2% m/m, weaker than expectations of +0.2% m/m and the biggest decline in 15 months.

The University of Michigan U.S. Feb consumer sentiment index was revised downward by -2.7 to 76.9, weaker than expectations of no change at 79.6.

Atlanta Fed President Bostic said the Fed needs to hold interest rates higher for longer, so inflation recedes further and it won't have to go back and raise rates again.

Fed Governor Waller said he would like to see... Read more

Contract Specifications

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Contract
Gold 100-oz
Contract Size
100 fine troy ounces
Tick Size
0.10 (10 cents) per troy ounce ($10.00 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 7:20a.m. - 12:30p.m.) (Settles 12:30p.m.) CST
Exchange
COMEX
Point Value
$100
Margin/Maintenance
$9,130/8,300
First Notice Date
01/31/24
Expiration Date
02/27/24 (expired)

Seasonal Chart

Gold Feb '24
Average Price Chart for 5 Prior Feb Contracts

Commitment of Traders Positions as of Feb 27, 2024

View Chart Details
Commercials - Long / Short
108,432 (+2,013)
266,784 (+954)
Non-Commercials - Long / Short
214,948 (+3,914)
73,312 (+2,540)
Producers - Long / Short
11,378 (+764)
51,050 (+1,985)
Swap Dealers - Long / Short
78,743 (+763)
197,423 (-1,517)
Managed Money - Long / Short
103,885 (+5,045)
47,732 (-1,185)
Other Reportables - Long / Short
111,063 (-1,131)
25,580 (+3,725)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1,984.8 +2.48%
on 02/14/24
2,064.5 -1.48%
on 02/01/24
+16.7 (+0.83%)
since 01/26/24
3-Month
1,984.8 +2.48%
on 02/14/24
2,152.3 -5.50%
on 12/04/23
+1.0 (+0.05%)
since 11/27/23
52-Week
1,842.5 +10.39%
on 10/06/23
2,152.3 -5.50%
on 12/04/23
+122.2 (+6.39%)
since 02/27/23

More Gold Quotes

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GCJ24 : 2,095.7s (+2.00%)
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GCJ24 : 2,095.7s (+2.00%)
ZBH24 : 120-01s (unch)
$DXY : 103.88 (-0.25%)
Dollar Edges Lower and Gold Soars on Weak U.S. Economic News

The dollar index (DXY00 ) on Friday fell by -0.25%. The dollar retreated from a 1-1/2 week high Friday and posted moderate losses on weaker-than-expected U.S. economic news on Feb ISM manufacturing, Jan...

DXY00 : 103.861s (-0.28%)
^EURUSD : 1.08400 (+0.33%)
^USDJPY : 150.126 (+0.10%)
GCJ24 : 2,095.7s (+2.00%)
SIK24 : 23.364s (+2.09%)
Stocks Climb on Lower Bond Yields and Strength in Tech Stocks

The S&P 500 Index ($SPX ) (SPY ) this morning is up +0.43%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.15%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.72%. Stock indexes this morning...

$SPX : 5,137.08 (+0.80%)
SPY : 512.85 (+0.94%)
$DOWI : 39,087.38 (+0.23%)
DIA : 391.31 (+0.35%)
$IUXX : 18,302.91 (+1.44%)
QQQ : 445.61 (+1.51%)
ZNM24 : 111-010s (unch)
NTAP : 105.31 (+18.17%)
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Dollar Slips and Gold Rises on Weaker-Than-Expected U.S. Economic News

The dollar index (DXY00 ) this morning is down by -0.10%. The dollar fell from a 1-1/2 week high today and turned lower on weaker-than-expected U.S. economic news on Feb ISM manufacturing, Jan construction...

DXY00 : 103.861s (-0.28%)
^EURUSD : 1.08400 (+0.33%)
^USDJPY : 150.126 (+0.10%)
GCJ24 : 2,095.7s (+2.00%)
SIK24 : 23.364s (+2.09%)
Stocks Fluctuate Before Feb ISM Manufacturing Report

The S&P 500 Index ($SPX ) (SPY ) this morning is up +0.12%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.07%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.35%. Stock indexes this morning...

$SPX : 5,137.08 (+0.80%)
SPY : 512.85 (+0.94%)
$DOWI : 39,087.38 (+0.23%)
DIA : 391.31 (+0.35%)
$IUXX : 18,302.91 (+1.44%)
QQQ : 445.61 (+1.51%)
ZNM24 : 111-010s (unch)
NTAP : 105.31 (+18.17%)
DELL : 124.59 (+31.62%)
COO : 102.19 (+9.18%)
ADSK : 264.74 (+2.54%)
LLY : 782.12 (+3.77%)
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The dollar index (DXY00 ) on Thursday rose by +0.16%. On Thursday, the dollar recovered from early losses and moved higher as hawkish comments from San Francisco Fed President Daly and Atlanta Fed President...

DXY00 : 103.861s (-0.28%)
^EURUSD : 1.08400 (+0.33%)
^USDJPY : 150.126 (+0.10%)
GCJ24 : 2,095.7s (+2.00%)
SIK24 : 23.364s (+2.09%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 2,037.2
2nd Resistance Point 2,036.5
1st Resistance Point 2,035.3
Last Price 2,034.0s
1st Support Level 2,033.4
2nd Support Level 2,032.7
3rd Support Level 2,031.5

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52-Week High 2,152.3
Fibonacci 61.8% 2,034.0
Last Price 2,034.0s
Fibonacci 50% 1,997.4
Fibonacci 38.2% 1,960.8
52-Week Low 1,842.5

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