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

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(Kitco News) - Gold and silver prices are solidly lower in early U.S. trading Friday. Gold prices scored another nearly 2.5-year low. Soaring government bond yields and a very strong U.S. dollar index are bearish elements that are punishing the precious metals markets at present.

Price pressure on gold, silver as government bond yields, USDX soar

DB Gold Double Long ETN

iShares Gold Strategy ETF

It should be the perfect time to own gold. The yellow metal has historically rallied when inflation is high, since it's a physical investment that can serve as a store of value. It's also usually a firm favorite during periods of geopolitical uncertainty, when it's seen as a safe haven.

The curious case of falling gold prices

A number of central banks raised interest rates this week to tame inflation, driving gold lower and stoking concerns of a global recession.

Gold Price Fundamental Daily Forecast – Investors Finding Out You Can't Find the Fed and Other Central Banks

Gold futures on Friday fell back to a level last seen in April 2020, under pressure as the U.S. dollar soared versus major rivals and bond yields jumped amid fears aggressive monetary tightening by central banks could spark a global recession.

Gold falls to lowest in more than 2 years as dollar, yields soar

Gold is 1.7% lower this morning, as it is trading below the $1,650 level. What about the other precious metals?

Daily Gold Update: Friday, September 23 – Gold Price Breaks to New Lows

(Kitco News) - The gold market shows relative strength in the face of rising interest rates and a U.S. dollar that continues to trade near its highest level since 2002. Now could be a tactical time to buy gold, according to one market analyst.

Gold is so unloved it is becoming immune to Fed's oversized rate hikes - MKS' Shiels

Gold futures climbed on Thursday, with the haven precious metal finding support for a second straight session after Russia raised its war efforts in Ukraine, ordering a partial mobilization of reservists into service. Still, strength in the U.S. dollar following the Federal Reserve's decision Wednesday to hike interest rates by 75 basis points helped to limit gold's gains, analysts said.

Gold futures settle higher for a second session

(Kitco News) - Gold and silver prices are firmer in midday U.S. trading Thursday. Heightened geopolitical concerns have prompted some mild safe-haven demand and are keeping the speculative bears on the sidelines late this week.

Gold, silver see modest gains on safe-haven demand, short covering

(Kitco News) - Now is not the time to liquidate your core gold positions as the Fed has been clear that economic pain will be coming, according to one gold market strategist.

Investors want to hold on to their gold as the pain from rate hikes is coming - SSGA's George Milling-Stanley

Gold markets have gone back and forth during the trading session on Thursday as we see a lot of noisy behavior in general.

Gold Price Forecast – Gold Continues to Flirt at the Same Area

Inflation is at its highest level in several decades and precious metals bulls are patiently waiting for a big win. Geopolitical concerns are also rising with the ongoing Russia-Ukraine war.

Gold Bulls Don't Want To See A Breakdown Here!

(Kitco News) - The gold market continues to hold critical long-term support levels even as the U.S. labor market remains healthier than expected with fewer workers applying for first-time unemployment benefits.

Gold price bounces off $1,675, ignoring unchanged reading in U.S. Weekly jobless claims.

Gold prices were flat in early trading on Thursday after the Federal Reserve's third 75 basis-point interest-rate hike in a row helped boost the dollar and Treasury yields, causing the value of gold to diminish.

Gold flat as dollar climbs to highest level in more than 20 years

Yesterday's Fed's Rate Decision release has led to an increased volatility, but gold remained relatively flat at the close of the day.

Daily Gold Update: Thursday, September 22 – Gold Extends Consolidation Despite Fed's Volatility

(Kitco News) - Gold and silver prices are a bit higher in early U.S. trading Thursday morning. Heightened geopolitical concerns have prompted some slight safe-haven demand and are keeping the speculative bears on the sidelines late this week.

Gold, silver see slight price gains amid elevated risk aversion

(Kitco News) - The gold price in British pounds has bounced off its lows as the Bank of England raised the Bank Rate by 50 basis points and continued to signal its commitment to bring inflation back down to its 2% target.

Gold in British pounds bounces off lows as BoE raises interest rates by 50 basis points

Not only is the Fed trying to drive down inflation without wrecking the economy, but it's also trying to save its reputation as an inflation fighting machine.

Gold Price Fundamental Daily Forecast – Edging Higher Despite Fed's ‘Go Big or Go Home' Tone

(Kitco News) - Gold prices are solidly higher in afternoon U.S. trading Wednesday, after hitting a nearly 2.5-year low earlier in the afternoon.

Gold sees post-FOMC relief rally, safe-haven demand on Russia worries

(Kitco News) - Gold erased its initial Fed-induced losses, jumping more than 1% on the day. Prices reacted to Federal Reserve Chair Jerome Powell's comments on recession and peak rates following a third consecutive 75-basis-point hike Wednesday.

Gold price jumps as Fed's Powell talks chance of recession and restrictive rates

With the Fed essentially delivering what the market expected, short-sellers may decide to book profits and regroup at more favorable price levels.

Gold Price Futures (GC) Technical Analysis – Trying to Form Potentially Bullish Closing Price Reversal Bottom

(Kitco News) - Gold prices are a bit weaker and did hit a fresh nearly 2.5-year low in afternoon U.S. trading Wednesday.

Gold sells off modestly on as-expected FOMC rate hike

Gold futures settled higher on Wednesday, then moved lower in electronic trading following the Federal Reserve's decision to raise the fed funds rate by 75 basis points to the 3% to 3.25% range. The central bank also penciled in another 125 basis points in rate hikes by year-end.

Gold prices settle higher, move lower in electronic trading after Fed lifts interest rates as expected

(Kitco News) - The gold market is under pressure falling below critical long-term support at $1,675 an ounce as the Federal Reserve raises the Fed Funds rate by another 75 basis points and signals that more aggressive rate hikes will continue into next year.

Gold prices drop into negative territory as Federal Reserve sees terminal rate above 4.5% in 2023

(Kitco News) - Gold is in a precarious position as a break below $1,675 an ounce could open the door to $1,600 an ounce, warned Australia and New Zealand Banking Group (ANZ).

Gold price 'vulnerable' to major move lower, says ANZ

(Kitco News) - Gold and silver prices are just modestly higher in early U.S. trading Wednesday morning, as heightened geopolitical concerns did prompted mild safe-haven demand.

News for ProShares Ultra Gold ETF (UGL)