Today's Gold and Silver News - June 28

Gold price is looking for a breakout next week, watch the $1,800 level - Kitco's gold price survey

Wall Street and Main Street are bullish on gold next week, both expecting higher prices after a week of building support right below the $1,800 an ounce level, according to Kitco's weekly gold price survey. Read More

Basel III to take gold to record highs?

After an unexpected selloff last week, gold is busy building support. But the $1,800 level is proving to be a struggle. Read More

'The number one emotion I feel about [Bitcoin] is jealousy' says gold investor

Trey Reik, managing member of the Bristol Gold Group, highlights the key arguments from the Bitcoin versus gold debate with Kitco News anchor David Lin.

Reik said that many Bitcoin buyers were once frustrated gold investors who were disappointed with the metal’s performance over the last 10 years. Read More

Gold and silver trade higher leading into the European open

Gold and silver are starting off the new week on the front foot. The yellow metal trades 0.20% higher at $1783/oz while silver has moved 0.29% in the black. In the rest of the commodities complex, copper has lost 0.09% but spot WTI continues to climb and trades at $74/bbl.

Risk sentiment in the Asia Pac area was very indecisive. The Nikkei 225 (-0.06%), ASX (-0.01%) and Shanghai Composite (-0.14%) all traded marginally lower. Futures are pointing towards a negative cash open in Europe. Read More

Russia's largest gold miner plans to boost production

Russia's largest gold miner Polyus says it is planning to increase supply in 2022. The world's 4th largest miner has suffered a current slowdown in the output. This was caused by the decline in the quality of the ore extracted from the mines, but Polyus hopes to recover from the drop in the coming years. Read More

SocGen note some conflicting signs for gold

Analysts at Societe Generale say "positive signs from ETFs flows and money managers point to higher prices at year-end". They go on to add "The market expects ETF flows to be positive in 2021 on the reflation trade, but rising rates mean that there are conflicting forces affecting the gold price.". Read More

Bitcoin daily chart alert - Choppy, sideways trading favors bulls now - Jun. 28

Bitcoin-U.S. dollar is a bit lower in early U.S. trading Monday. The bulls have had success recently as they have stabilized prices after recent selling pressure.  However, the bears still have the overall near-term technical advantage as prices are still not far above the recent multi-month low. Read More

Gold, silver see some price pressure amid bearish charts

Gold and silver prices are modestly lower in early U.S. trading Monday. Scant risk aversion in the marketplace and bearish near-term technical charts are keeping the bears in near-term control of the metals, in quieter summertime markets. August gold futures were last down $3.60 at $1,774.30 and September Comex silver was last down $0.026 at $26.095 an ounce. Read More

Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or other advice.

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