ProShares Ultra Gold

UGL provides 2x the daily performance of gold, as measured by the price of COMEX gold futures contracts.

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Gold prices continued to soften on Friday, but remained on track for a weekly gain driven by expectations for a down shift in the pace of Federal Reserve interest-rate hikes.

Gold prices soften, but remain on track for weekly gain

Yesterday's important U.S. Advance GDP release has been higher than expected at +2.6% q/q. Today we will get the Core PCE Price Index release at 8:30 a.m.

Daily Gold Update: Friday, October 28 – Gold Price is at $1,650 Again

U.S Treasury yields are on the rise on Friday, erasing some of Thursday's loses as the financial markets absorbed stronger than expected GDP growth.

Gold Price Fundamental Daily Forecast – Pressured as Yields Rise Ahead of Personal Spending, Income Data

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(Kitco News) - Following the bull rally in 2011, gold corrected 40% from its highs in July, 2011, before bottoming at close to $1,000 an ounce in 2015.

Fed pivot will take gold to new heights, but a crash to $1,100 is a 'possibility' - Axel Merk

(Kitco News) - Gold is being pulled in different directions by opposing drivers, creating a confusing environment for investors, according to the LBMA/LPPM Global Precious Metals Conference 2022.

Breaking down gold price action: this is what institutional investors react to - LBMA

Gold futures declined on Thursday, a day after prices posted their highest finish in nearly two weeks. The precious metal saw prices drop after a better-than-expected U.S. GDP number, with the thinking being that a more robust growth number would strengthen the Federal Reserve's “resolve to keep hiking” interest rates, said Brien Lundin, editor of Gold Newsletter.

Gold futures end lower a day after posting their highest finish in nearly two weeks

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(Kitco News) - The near-term fates of the gold and silver markets continue to lie with the daily price action in the U.S. dollar index.

Gold, silver down as USDX rebounds, U.S. GDP upbeat

(Kitco News) - The price environment for gold will be challenging next year as the Federal Reserve is expected to continue to raise interest rates well into 2023, the World Bank said in its latest commodity price forecast.

World Bank sees gold prices falling another 4% in 2023

Gold markets have had a very choppy trading session on Thursday as we continue to see a lot of different things push the markets around.

Gold Price Forecast – Gold Markets Have Choppy Thursday

The U.S. economy grew more than expected in the third quarter, the U.S. Bureau of Economic Analysis reported on Thursday.

U.S. Q3 GDP beats expectations, gold price ticks up but remains down on the day

(Kitco News) - Gold prices are modestly lower in early U.S. trading Thursday, pressured by a solid rebound in the U.S. dollar index and some upbeat U.S. economic data. December gold was last down $4.90 at $1,664.30 and December silver was down $0.031 at $19.455.

Gold price weaker on USDX rebound; U.S. 3Q GDP data upbeat

(Kitco News) - The gold market continues to see some technical selling pressure even as the U.S. manufacturing sector lost some significant momentum last month.

Gold prices remain down as U.S. core durable goods orders drop 0.5% in September

(Kitco News) - The gold market is not seeing much reaction as the European Central Bank raises interest rates by another 75 basis points and signals that it will continue to tighten its monetary policy through year end.

Gold prices down on the day but holding support above $1,650 as ECB raises interest rates by 75 basis points

Gold futures were slightly lower Thursday, consolidating after finishing at a nearly two-week high in the previous session as a pullback by the U.S. dollar gave bulls some breathing room.

Gold consolidates after finding support on dollar weakness

Gold traders should note that a shift in policy by the Fed to less-aggressive rate hikes in December will not be a trend changing event.

Gold Price Fundamental Daily Forecast – Expect More Short-Covering if GDP Misses 2.3% Forecast

Weaker than expected GDP data could raise hopes Fed policymakers will soften the tone about a rate hike in December, propelling gold prices higher.

Gold Price Futures (GC) Technical Analysis – Traders Eyeing US GDP Data for Hints About Looming Recession

Gold futures settled at their highest price in nearly two weeks on Wednesday, as the U.S. dollar index and Treasury yields continued to weaken. A weaker dollar has been “good news for bullion investors, but gains should be capped well ahead of the $1,700 level” for gold, said Edward Moya, senior market analyst at OANDA.

Gold futures settle at their highest price in almost 2 weeks

Gold moved towards the $1675 level. Copper managed to settle back above $3.50.

WTI Oil Rallied Towards The $88 Level

(Kitco News) - Gold and silver prices are solidly higher near midday U.S. trading Wednesday and hit two-week highs.

Gold up; charts hint USDX, U.S. bond yields may have peaked

(Kitco News) - Rising mortgage rates continue to take their toll on the U.S. housing market; however, the drop in new homes sales in September was less than expected.

Gold prices holding on to solid gains as U.S. new home sales drop nearly 11% in September

Gold markets have rallied again during the trading session on Wednesday but have found sellers at the all-too-familiar $1680 level.

Gold Price Forecast – Gold Smacks Into Resistance

(Kitco News) - Gold and silver prices are solidly higher and hit two-week highs in early U.S. trading Wednesday.

Price gains for gold, silver as USDX, bond yields back down

A softer dollar and falling Treasury yields helped boost the price of gold to its highest level in nearly two weeks on Wednesday as the yellow metal built on gains from the prior session driven by expectations for smaller interest-rate hikes by the Federal Reserve.

Gold climbs to highest level in nearly 2 weeks as dollar, yields retreat

Ahead of next week's Fed interest rate decision, gold prices are likely to remain data dependent and sensitive to the movement in Treasury yields.

Gold Price Fundamental Daily Forecast – Bank of Canada Rate Decision, Treasury Yields Controlling Price Action

Gold futures ended higher on Tuesday, buoyed by weakness in the U.S. dollar index and a pullback in Treasury yields. “Thanks to the recent weakness in bond yields and U.S. dollar, gold has been able to find some relief,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.

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