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Gold Jun '24 (GCM24)

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Gold Futures Market News and Commentary

Dollar Slides on Stock Strength and Weakness in US Economic Reports

The dollar index (DXY00) fell by -0.17% on Wednesday.  The dollar fell on Wednesday after the S&P 500 climbed to a new record high, reducing demand for dollar liquidity.  Also, Wednesday’s weaker-than-expected reports on July ADP employment and July ISM services were bearish for the dollar.  Losses in the dollar are limited on hawkish comments from Kansas City Fed President Jeff Schmid and Minneapolis Fed President Neel Kashkari, who said tighter Fed policy was needed to reduce inflation.

The US July ADP employment change rose by +44,000, weaker than expectations of +65,000.

The US July ISM services index rose +0.1 to 54.1, weaker than expectations of 54.5.  The July ISM services price paid sub-index unexpectedly rose +2.6 to 70.3, stronger than expectations of a decline to 65.0.

Tuesday evening, Kansas City Fed President Jeff Schmid said, “Given the strength of demand and investment, I do not see the current stance of monetary policy as restrictive.  As such, I be... Read more

Silver nuggets and ingot by Mike Maniatis via Shutterstock
Gold & Silver Breakout! Copper Export Ban | Key Levels to Watch | Metals Minute Phil Streible

Metals Minute Phil Streible | Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 717)

A one dollar bill floating in water by Wirestock via iStock
Dollar Slides on Stock Strength and Weakness in US Economic Reports

The dollar index (DXY00 ) fell by -0.17% on Wednesday. The dollar fell on Wednesday after the S&P 500 climbed to a new record high, reducing demand for...

Gold bullion rounded by istara via Pixabay
Gold Breaches 50-Day Moving Average: Real Rally or Bull Trap?

Gold bugs are celebrating another breakout above the trendline and 50-day moving average. However, with the 50-day MA still declining, caution is warranted...

A hundred dollar bill being torn by Alona Siniehina via iStock
Dollar Slides on Stock Strength and Weakness in US Economic Reports

The dollar index (DXY00 ) is down by -0.20% today. The dollar is falling today as stock strength has reduced demand for liquidity in the dollar. Also,...

Copper pipes by Dijana via Pixabay
Metals analysis for the intraday futures market participant

We review our metals setups for the day

Silver bullion by SonerCdem via iStock
Precious Metals Explode Higher! Here's the Key Drivers & Levels to Watch in Gold & Silver | Metals Minute Phil Streible

Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 716)

Is Wall Street Bullish or Bearish on Altria Group Stock?

While Altria Group has underperformed the broader market over the past year, analysts remain moderately optimistic about its future growth prospects.

Dominion Energy Stock: Is Wall Street Bullish or Bearish?

Due to Dominion Energy's underperformance relative to the S&P 500 Index over the past year, Wall Street analysts maintain a cautious outlook on the stock’s...

AMD's Beat-and-Raise Q2 Earnings Shows Just How High the AI Bar Is

AMD beat revenue and earnings estimates and raised guidance, yet the stock fell as AI investors demanded even faster growth. Expectations, not execution,...

Do Wall Street Analysts Like Citizens Financial Stock?

Citizens Financial has outperformed the broader market over the past year, and analysts remain highly bullish about the stock’s prospects.

Walmart Earnings: Bull Put Spread Trade

With earnings set for August 20th before the market open, implied volatility on WMT stock is through the roof. Implied volatility is sitting at 32% compared...

Nasdaq Futures Slip as Western Digital and Sandisk Sink on Disappointing Guidance

September Nasdaq 100 E-Mini futures (NQU26) are down -0.42% this morning as concerns about the AI trade linger after forecasts from Western Digital and...

Are Wall Street Analysts Bullish on Marvell Technology Stock?

Marvell Technology has significantly outperformed the broader market over the past year, while analysts remain highly optimistic about its future growth...

What Are Wall Street Analysts' Target Price for Coca-Cola Stock?

Coca-Cola has outperformed the broader market over the past year, and analysts remain highly optimistic about its future growth prospects.

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