(Kitco News) - Gold prices are modestly up and silver slightly down in near midday Tuesday. The precious metals are not straying too far from unchanged as the Federal Reserve's monetary-policy-setting meeting got under way today. Safe-haven bids amid the Israel-Hamas war and the potential for a wider Middle East conflict are keeping a floor under gold and silver prices at present. December gold was last up $2.30 at $2,007.80. December silver was last down $0.101 at $23.305.
Japan's central bank overnight left its monetary policy unchanged but said it will"patiently continue monetary easing" until the BOJ achieves stable 2% inflation.In other news, reports said the World Gold Council says central bank gold-buying surged to 800 tons in the first nine months of this year and could hit a record in 2023. If the central bankers are indeed the so-called"smart money" in the marketplace, then the retail gold bulls should be feeling pretty good.
Technically, December futures gold bulls have the overall near-term technical advantage. Prices are in a four-week-old uptrend on the daily bar chart. Bulls' next upside price objective is to produce a close above solid resistance at $2,050.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,950.00. First resistance is seen at last week's high of $2,019.70 and then at the July high of $2,028.60.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: CTVNews - 🏆 1. / 99 Read more »
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Source: SooToday - 🏆 8. / 85 Read more »
Source: PGCitizen - 🏆 65. / 51 Read more »