Although we have been bullish gold since the $1,280 level and achieved our first target of $1,500. All week we wrote that gold would churn around this level before finally breaking out. However, with all of the troubles around the globe and all central banks cutting rates Gold exploded on Wednesday trading […]
I have always been amazed by our collective ability to forget history. This applies to everything from politics, to war, to economics. The same things repeat with varying predictable patterns throughout the centuries. As Mark Twain is reputed to have said, “History doesn’t repeat itself, but it often rhymes.” I […]
After 20 years and three renewals, the signatories to the Central Bank Gold Agreement (CBGA), a cartel like syndicate of central banks in Europe, have just announced that they will not be renewing the Agreement when it expires this coming September. While the real purpose of the CBGA was always […]
Gold prices edged up after U.S. existing homes sales missed expectations in June, according to the latest report from the National Association of Realtors (NAR). Existing home sales decreased 1.7% last month to a seasonally adjusted and annualized rate of 5.27 million units, compared to May’s annualized rate of 5.34 […]
Gold prices are solidly higher and nearer daily highs in midday U.S. trading Wednesday. The precious metals were boosted today by comments from Federal Reserve Chairman Jerome Powell to the U.S. House of Representatives. Powell cited several concerns regarding the U.S. economy that traders deemed dovish on monetary policy. August gold […]
Holdings in global gold-backed ETFs and similar products rose sharply in June by 127 tonnes (t) to 2,548t – equivalent to US$5.5bn in inflows – as geopolitical uncertainty increased and central banks signalled a shift to a more accommodative policy over the coming months. This drove rates and the US […]
Have an eye for gold? How about seeing the world’s biggest gold coin that weighs one metric ton, is made out of 99.99% pure gold and is worth more than $50 million based on current spot gold prices? The Australian-made coin will be on display right outside of the New […]
(Kitko News) – BMO Capital Markets says the current macroeconomic backdrop is favorable for gold, although market participants have largely already factored in the most favorable development – likely interest-rate cuts in the U.S. BMO Thursday hiked its full-year average gold-price outlook by 3% to $1,332 an ounce and looks […]