Tag: gold rush
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Gold Explodes Before Pulling Back
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 […]
Gold: The Unfortunate Final Refuge
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 […]
By Not Renewing the CBGA, Central Banks in Europe Look Ready to Buy Gold
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 Pops As Fed’s Powell Leans Easy
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 […]
Gold-backed ETF AUM grew 15% in June, its largest monthly increase in seven years
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 […]
News Bites World’s Largest Gold Coin On Display At NYSE For One Day Only
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 […]
Gold’s Monster Rally, Can It Continue?
Gold’s rally isn’t over yet by any means, as one analyst sees the upward momentum continuing. Phil Streible, RJO Futures, told Kitco News that prices for the yellow metal may still see much higher levels from here. Read full article here: >>