Gold

The interview with David Lin was recorded yesterday, April 10th.

Today, the U.S. Bureau of Labor Statistics released its most current report on inflationary pressures via the March CPI (Consumer Price Index) report. Concurrently, the Federal Reserve released the minutes from last month's FOMC meeting. Combined, these two reports had a noticeable impact on market sentiment regarding the Federal Reserve's monetary policy moving forward.

As of 5:30 PM EDT, gold futures hit a new record high of $2,384.50 per ounce, with the most active June contract closing up $11.40 at $2,362.40. This marks the eighth consecutive day of significant gains for the precious metal, driven by a trifecta of fundamental forces.

Gold futures basis the most active June 2024 Comex contract as of 6PM ET is trading up $5.60, or 0.24%, and is fixed at $2351. That being said, volatility in gold has returned as seen through today’s expanded trading range. Gold opened at $2342.60, traded to a low of $2321.70, and a high of $2372.50 creating over a $50 range between today’s high and lowest values.

As of 5:30 PM EDT, gold futures basis the most active June contract is once again trading at a new record high of $2349.10. The June contract of Comex gold opened today at $2309.50, traded to a low of $2286.20 and a high of $2350 before settling just $0.90 off today’s intraday high.

After hitting a new all-time record high of $2325.30 gold futures basis the most active June contract has experienced a slight price decline today. As of 5:05 PM EDT the June contract is currently fixed at $2308.50, down $6.50, or -0.28%.

In a historic move, gold futures surged past the $2300 mark for the first time in history. As of 4:30 PM EDT, gold futures basis the most active June contract is currently at a record high of $2318.90. The June contract opened at $2301.70 and traded to an intraday high of $2319.70.

As of 4:55 PM EDT the most active June contract of gold futures is fixed at $2300.60, up $28.10. This marks the sixth consecutive day of gains for the precious yellow metal, with the last four trading sessions culminating in new record closes.

In a remarkable turn of events, gold futures surged to unprecedented levels on April 1, 2024, driven by a potent mix of economic and geopolitical factors. As of 5:30 PM EDT, the most active April contract skyrocketed by $17.70, or 0.78%, settling at a staggering $2,272.50 per ounce.

Gold futures skyrocketed today, with the most active June contract gaining a staggering $39.40 or 1.78% to settle at $2,254.80. This historic rise comes as investors seek a safe haven amidst growing economic concerns and the prospect of interest rate cuts.