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Gold Oct '24 (GCV24)

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Gold Futures Market News and Commentary

Dollar Falls and Precious Metals Soar to Record Highs as Fed Independence Threatened

The dollar index (DXY00) today is down by -0.32%.  Threats to Fed independence are hammering the dollar today after Fed Chair Powell said the Justice Department's threat of criminal charges against the Federal Reserve over his June testimony on Fed headquarters renovations is the consequence of the Fed not going along with President Trump's calls for lower interest rates. 

On Sunday, Fed Chair Powell said the Fed had been served grand jury subpoenas from the Justice Department threatening a criminal indictment related to his June congressional testimony on ongoing renovations of the Fed's headquarters.  Powell said, "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than the preferences of the president."

The markets are discounting the odds at 5% for a -25 bp rate cut at the FOMC's next meeting on January 27-28.

The dollar continues to see underlying weak... 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
$26,400/24,000
First Notice Date
09/30/24
Expiration Date
10/29/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 6, 2026

View Chart Details
Commercials - Long / Short
80,218 (-2,036)
352,253 (-5,247)
Non-Commercials - Long / Short
274,435 (-1,157)
46,803 (+2,384)
Producers - Long / Short
13,454 (+496)
63,996 (-3,443)
Swap Dealers - Long / Short
37,456 (+446)
258,949 (+1,174)
Managed Money - Long / Short
146,445 (-2,197)
23,232 (+630)
Other Reportables - Long / Short
127,990 (+1,040)
23,571 (+1,754)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
2,602.5 +6.37%
on 10/10/24
2,768.4 unch
on 10/29/24
+124.1 (+4.69%)
since 09/27/24
3-Month
2,382.8 +16.18%
on 08/05/24
2,768.4 unch
on 10/29/24
+366.6 (+15.26%)
since 07/29/24
52-Week
2,031.6 +36.27%
on 11/13/23
2,768.4 unch
on 10/29/24
+673.1 (+32.12%)
since 10/27/23

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Dollar Falls and Precious Metals Soar to Record Highs as Fed Independence Threatened

The dollar index (DXY00 ) today is down by -0.32%. Threats to Fed independence are hammering the dollar today after Fed Chair Powell said the Justice Department's threat of criminal charges against the...

DXY00 : 99.133s (+0.20%)
GCG26 : 4,622.9 (+2.71%)
SIH26 : 85.670 (+7.98%)
^USDJPY : 158.105 (+0.12%)
^EURUSD : 1.16674 (+0.27%)
Gold & Silver Hit All-Time Highs with Concerns Over Fed Independence

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Gold Rallies, VIX Spikes as Fed Chair Powell Responds to Criminal Indictment

Over the weekend, Powell said the DoJ charges are a pretext to apply pressure over Fed rate cuts.

$DXY : 98.90 (-0.23%)
$VIX : 15.16 (+4.62%)
GCG26 : 4,622.9 (+2.71%)
What's Moving Markets Monday Morning?

While I wanted to talk about something else, anything else, to start the week, the latest market news was not expected, nor was it surprising.

$CRSI : 551.58 (-0.68%)
SIH26 : 85.670 (+7.98%)
GCG26 : 4,622.9 (+2.71%)
HGH26 : 6.0180 (+1.96%)
$CSWI : 462.43 (-0.12%)
$CRWI : 460.49 (+0.02%)
$CNCI : 408.84 (-0.20%)
$CNSI : 991.72 (+0.15%)
Gold & The 78.6% Fibonacci Retracement

Educational and Actionable information using Fibonacci and W.D. Gann analysis.

GCG26 : 4,622.9 (+2.71%)
Dollar Climbs as Fed Rate Cut Expectations Recede

The dollar index (DXY00 ) rallied to a 1-month high on Friday and finished up by +0.20%. The dollar found support from Friday’s mixed US payroll report, which showed payrolls rose less than expected...

DXY00 : 99.133s (+0.20%)
GCG26 : 4,622.9 (+2.71%)
SIH26 : 85.670 (+7.98%)
^USDJPY : 158.105 (+0.12%)
^EURUSD : 1.16674 (+0.27%)
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AGI : 42.78 (+2.32%)
GROY : 4.73 (+7.01%)
GCG26 : 4,622.9 (+2.71%)
BHP : 63.05 (+2.15%)
CMCL : 31.65 (+8.46%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 2,768.4
2nd Resistance Point 2,768.4
1st Resistance Point 2,768.4
Last Price 2,768.4s
1st Support Level 2,768.4
2nd Support Level 2,768.4
3rd Support Level 2,768.4

See More

52-Week High 2,768.4
Last Price 2,768.4s
Fibonacci 61.8% 2,486.9
Fibonacci 50% 2,400.0
Fibonacci 38.2% 2,313.1
52-Week Low 2,031.6

See More

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