The precious metal’s plunge was intensified by technical selling as gold tumbled below the $1,800 and came close to testing critical support at $1,770-60. “Over time, these things driving up inflation will be temporary … The experience with lumber prices is illustrative of this. “We also got a shift for 2022 but not enough to […]
“What I think it’s due to is a lot of temporary factors”, he said. …Read the full story
The analysts said they expect gold prices to average around $1,820 an ounce this year, up 3% from last year’s average price. The 2021 outlook comes as the gold market struggles to attract new bullish momentum after prices have been unable to hold gains above $1,900 an ounce. “Although we expect policy rates and nominal […]
Housing starts increased 3.6% to a seasonally adjusted annual rate of 1.57 million units last month, the Commerce Department said on Wednesday. Meanwhile, building permits data, which is a precursor to future projects, was 0.3% at 1.68 million in May, down 3% from April. …Read the full story
August gold futures were last up $4.00 at $1,859.20 and July Comex silver was last up $0.227 at $27.915 an ounce. monetary policy, focus will be on the Fed’s tenor on inflation prospects and when the central bank will start to taper its very easy money policies. The past several weeks have seen little risk […]
Because in the event of widespread inflation, we think the gold price will go up much more,” Trexler told Kitco News. “There will be more and more spending, and there will be strong pressure to ignore inflationary concerns to achieve those targets. economy could end up with the Fed that is much less concerned with […]
In the rest of the commodities complex, copper trades -0.34% lower after a dismal session on Tuesday and spot WTI is up another 0.27% to trade at levels not seen since October 2018. Looking ahead to the rest of the session highlights include Chinese retail sales, Chinese industrial production, U.S. …Read the full story
“The big problem with cryptos, in general, is that you can’t convert them into actual real legal tender that’s usable cheaply, and quickly,” Hanke told David Lin, anchor for Kitco News. …Read the full story
In a recent interview with Kitco News, Michael Moor, creator of Moor Analytics, said that he sees more potential for higher oil prices than gold. He said that he has been bullish on oil since July 2020, after prices rebounded from falling into negative territory for the first time in history. Looking at the gold […]
Flows into gold have slowed after the precious metal failed to breach the $1,900 an ounce level despite higher-than-expected inflation numbers and a disappointing employment report out of the U.S. The last time these were updated was back in March, with the median GDP growth forecasts standing at 6.5% in 2021, 3.3% in 2022, and […]
Featured in both metals today is the weak-handed bulls exiting their long futures positions before Wednesday afternoon’s results of the FOMC meeting that began Tuesday morning. The metals may have also been pressured somewhat by the May producer price index that came in hotter than expected, at up 0.8% from April and up 6.6%, year-on-year. […]
And as people start to dream about what they would do with $70 million, some market analysts have said that gold remains a good investment. “The general recommendation is that investors hold between 5% and 10% of their portfolio in gold. If you wanted to put all your lotto winnings into gold, you could buy […]
President and CEO John A. The company said that a total of $25 million is budgeted in 2021 for surface and underground exploration at Island Gold, up from $13 million spent in 2020. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. …Read the […]
“The shift downward in both nominal yields mean real yields are likely to continue trading within range for now,” the analysts said. gold has been unable to attract consistent bullish momentum even as real long-term yields average negative 25 basis points, the lowest point since mid-February. Looking to the end of the year, the analysts […]
August gold futures were last up $2.30 at $1,866.90 and July Comex silver was last down $0.264 at $27.78 an ounce. The May producer price index is another important data point out on a very busy report day today, and is expected to come in at up 0.5% from April. monetary policy, focus will be […]
Core PPI, which strips out volatile food and energy prices, also surprised on the upside, with a rise of 0.7% versus the expected 0.5% advance. …Read the full story
There has been some great interest in this year’s American Eagle series as there will be a design change on the reverse coming this July. Either way, the sheer volume of purchases bode well for the yellow metal and may go some way to balance out some of the demand loss from India due to […]
All week we have been writing about the pain of congestion; Thursday was the tip that, although consolidating, the trend is bullish. Silver is slightly more bullish than gold right now and has a chance to break out to the upside today. Although gold is in a similar pattern and is making higher lows, it […]
In the latest RBA minutes, the board agreed it would be “premature to consider ceasing” the bond-buying programme. …Read the full story
