Analysts and market participants are overwhelmingly optimistic that the Federal Reserve has ended its quantitative tightening (QT) cycle, which included aggressive rate hikes. This series of QT began in March 2022. Currently, the Fed’s benchmark rate is between 5 ¼% and 5 ½%.

Gold futures basis, the most active February 2024 contract closed at $2091.70 on Friday, December 1. This after gold gained $35.60 or 1.73% opening at $2056.56 with a strong volume of 230,000 contracts. This would be the highest close for the February contract of gold futures. Trading would not resume until Australia’s open Monday morning, (Sunday in the United States).

Recorded on Thursday, November 30, Ivan Bayoukhi spoke with me, when I joined his show on WallStreet Silver.

As the saying goes; you ain’t seen nothing yet! The price of Spot gold today is fixed at $2070.10, just about $10 below the record high achieved in May, according to Kitco News. Based on the continuous contract of gold futures which merges the most active contract month into the next most month active month broke the record high today.

From the beginning of October to the last day in November silver has had a profound and dramatically strong gain. This despite one moderately deep correction beginning on October 19, and concluding on November 13. Monday, November 13, was the exact day that Silver pivoted back to a bullish demeanor.

After an exceedingly strong performance in gold futures, the most active February 2024 contract traded to a higher high than yesterday.  However, unlike recent days, pricing during the current session moved well below the daily highs and briefly traded negative on the day.

After opening at $2035.10 in trading today gold futures surged to a high not seen for approximately the last year. As of 3:15 PM EST, the most active February 2024 contract has surged by $26.30 and is currently fixed at $2061.50.

Recorded on November 22, Wednesday at 4:00 PM EST.

We Talk about what's next for gold and how the growing U.S. debt level will impact markets.

0:00 - Intro

Gold basis the most active February 2024 contract settled down $8.60 in New York at $2013.20. As of 3:05 PM EST, February gold is currently trading at approximately the same value fixed at $2013.70 down $6.80 or 0.34%. This occurred after yesterday’s extremely strong gain of just over $20 per ounce closing at approximately $2020 after reaching an intraday high of $2030.

Gold had tremendously strong gains today of just over $20 per ounce in both physical gold as well as futures. As of 4:00 PM EST gold futures basis the December contract is currently up $20.80 or + 1.05%, and fixed at $2001. On its first day as the most active Comex contract, February gold (GC G24) gained $20.60 or + 1.03% and is currently fixed at $2021.10.