Gold price is seeing a push to the upside with the price now up $28.44 or 1.23% at $2343.68. The high price just reached $2344.89 new high for the day. That move to the upside has now taken the price back above its 100 hour moving average at $2335.13. Stay above that moving average would be more bullish with the 200 hour moving out at $2356.62 as the next key tactical target. The high price of gold reached $2431.78 back on April 12. That is the new all-time high price for the precious metal. The corrective low which stalled at $2291 on Tuesday of this week, bottomed just above its 50% midpoint ..read more

Israel has increased airstrikes on the Rafah area. The price of crude oil is still trading lower on a day at $82.20 that down around $-0.60 on the day.. Earlier today, Hamas official Abu Zuhri said: Hamas will not be swayed by US pressure on issue of Gaza hostages. Firm on demand that Israel and the Gaza war as part of any deal to release hostages. The wonder is how many hostages are there to release? Spot gold is a 1%, and in the process is extending back above its 100 hour moving average at $2335.14 This article was written by Greg Michalowski at www.forexlive.com ..read more

Kinesis Mint, the certified independent precious metals mint and refinery of Kinesis, the monetary system backed by 1:1 allocated gold and silver, has been appointed the exclusive coin producer for the House of Mandela. The Kinesis Mint will independently manufacture the official House of Mandela collector coins in fine gold and silver. Commencing with the House of Mandela Coin, the Kinesis Mint has been entrusted with the exclusive rights to design and fabricate the House of Mandela commemorative coins. The team conceptualised the House of Mandela Coin to reflect the immortalised legacy and g ..read more

The fallout from today's first look at Q1 GDP continues to reverberate with the US dollar stronger and equities weaker because of hot inflation numbers. Goldman Sachs highlights that the composition of growth wasn't as soft as the headlines (+1.6% vs +2.4% exp). "The contribution from inventories (-0.4pp vs. GS +0.2pp) and foreign trade (-0.9pp vs. -0.4pp) accounted for the bulk of the miss," economists at Goldman write. "Indeed, domestic demand growth proceeded at a strong pace of +2.8% annualized. This reflected a double- digit pace of residential investment growth (+13.9%) and solid growth ..read more

The EURUSD fell after the higher than expected inflation data from the US GDP report. The fall took the price back below the 38.2% retracement 1.0709 and down to test its rising 100 hour moving average at 1.06786. Support buyers leaned against that moving average level, and have pushed the price back to the upside. Getting back above the 38.2% retracement at 1.0709 and staying above that level is needed to increase the bullish bias. Above that level, and a swing area up to 1.07314 would be targeted. The high-priced today stall just ahead of its 50% midpoint of the April trading range at 1.0742 ..read more

Prior month 1.6% Pending home sales month on month change +0.4% versus 0.8% expected Pending home sales index 78.2 vs 75.6 last month Pending home sales +0.1% from March 2023 This article was written by Greg Michalowski at www.forexlive.com ..read more

US Treasury Secretary Yellen in a interview with Reuters says: GDP data shows straight in consumer investment spending. US economy shows robust growth, firing on all cylinders There could be revisions to GDP data. I still see in underlying core drivers of economic activity considerable strength. We are on downward path for inflation. Rents have stabilized, but a lot of people still experiencing the upward adjustment to higher levels. I have no doubt that housing's contribution to inflation will be coming down this year. Not seen that wage pressures are a source of inflation Certainly don't se ..read more

The USDCHF has moved higher after an initial dip post weaker GDP growth. However, when traders noticed the price data, the price quickly reversed higher. In the process, the high price for the year from yesterday at 0.9152 was breached with a new high reaching 0.91558, but momentum could not be sustained and the price has since rotated modestly lower. If the buyers are to take more control they need to get and stay above 0.9152. Alternatively, support against the 100 and 200 hour moving averages at 0.9117 to 0.9120 must hold support if the buyers are to keep control. This article was written b ..read more

Meta-announcer earnings after the close yesterday and warned about higher expenses due to AI buildout investment. Caterpillar revenues missed as well. IBM is also getting hit in premarket trading after they announced their earnings. So some earnings misses. pressured stocks coming into the day. The US GDP then added another layer of negativity after it showed lower growth and higher inflation (stagflation). The markets do not like that word. The core PCE data for the current month will be released tomorrow at 8:30 AM ET with expectations of 0.48% MoM now being touted by some analysts. A snapsh ..read more

US yields are moving to new session highs with the 2-year yield now back above 5.0% as traders price out rate cuts in 2024 even more. The 2-year yield is trading at its highest level since November 14, 2023. The high-yield in 2023 for the two-year note reached 5.259%. The 10 year yield is at its highest level since November 1, 2023. The high yield for the 10-year bond in 2023 reached 5.021%. 2-year yield 5.018%, plus a .1 basis points 5-year yield 4.745%, plus a .7 basis points 10 year yield 4.731%, +7.7 voice points 30-year yield 4.840%, +5.6 basis points Stocks continue to get hit with the ..read more