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Why gold's $300 drop from record highs shouldn't spook you, Wells Fargo weighs in
Gold seems to be in a rough patch, down 12% since last August when the precious metal hit new record highs of above $2,050 an ounce. But Wells Fargo said it is not spooked by this underperformance and here's why.
"Gold has had a rough 12 months, at least on a relative basis. The average commodity (using the Bloomberg Commodity Index) is up 34% since August 2020, while the gold spot price is down 12%. Does this spook us? No, not really," said Wells Fargo's head of real asset strategy John LaForge. Read More
Join The Mercenary Geologist Mickey Fulp and Trevor Hall of Mining Stock Daily every Friday afternoon for a recap of metals, money, and markets. Each episode provides commentary on performances and a look ahead to next week's markets. You can listen to the weekly wrap exclusively at Kitco.com. We trust you will find our podcast of value and hope it becomes a part of your weekly due diligence and research. May all your trades be to the upside. Read More
Gold continues to rally now just $19 shy of $1800
In yesterday's opening letter, we talked about the potential for gold to stage a corrective upside rally based upon our current Elliott wave count using daily charts. Today we saw another 29 dollars taking gold prices substantially higher. As of 5:34 PM EST, Gold futures basis the most active December 2021. Comex contract is currently fixed at $1781.50, after factoring in today's net gain of $29.70. Read More
Gold bulls want to see follow-through buying next week
old's flash crash Sunday has put the spotlight back on the precious metal, and with inflation expected to remain high, some analysts and retail investors think this could be its time to shine.
The latest Kitco News Weekly Gold Survey shows near-term sentiment in the gold market has once again turned bullish; however, it remains a volatile market as the price continues to recover from its recent drop. Read More
Gold still remains relevant 50 years after Nixon ended Bretton Woods Agreement
Fifty years ago this Sunday, the gold market was completely transformed in only a matter of minutes after then-president Richard Nixon decoupled the U.S. dollar from the precious metal.
Although gold is no longer an official global currency, analysts note that with everything that has happened in the last 50-years the precious metal continues to play an important role in global financial markets and is still seen as a store of value among central banks, governments and investors. Read More
Watch $1,800 gold price level as markets focus on data misses - analysts
This summer, the gold market is keeping investors on their toes, with the latest price action seeing the precious metal soar after briefly dropping below $1,700 an ounce level earlier in the week.
The swift $100-dollar moves are very volatile for the precious metal's space, which is seeing renewed interest amid some economic misses on the data front, analysts told Kitco News. Read More
Once the Fed 'goes to war' against inflation, stocks will get 'annihilated', crash 50%
The U.S. Federal Reserve is "trapped", says Michael Gentile, strategic investor.
Gentile told David Lin, anchor for Kitco News, that two scenarios could play out: either the Fed raises rates by 25 basis points next year to regain confidence in the markets, or they let inflation run hot and do nothing. Neither of these scenarios will be enough to contain inflation. Read More
Gold and silver struggle heading into the European open
old is starting the new trading week on the back foot as the yellow metal has dropped -0.36% during the Asia Pac session. Silver is also weaker and trades near $23.50/oz down around -0.67%. Elsewhere in the rest of the commodities complex, copper is half a percent lower while spot WTI is -0.87% in the red. Read More
The gold price could have found a major support
Gold has moved lower in the Asian session but the sentiment is still strong after the yellow metal bounced back from the $1677.9/oz low. As traders and investors head into the European session the volume point of control (VPOC) at $1778.8/oz has been rejected and the price has moved lower. This does not necessarily mean the move down will continue. Read More
Gold & Silver Market Analysis for Friday 13th
Kinesis Gold Analysis - The gold price is still recovering, after the decline in the first part of the week. US inflation in July grew slower than expected, which causes the hesitancy around the start of the tapering, making it seem less urgent. Meanwhile, the greenback is steady, with the dollar index traded at 93.00.
Technically speaking, the recovery of gold at the $1,750 level appears as a positive signal. Read More
Ep. 44 Live from the Kinesis Vault:
London Gold & Silver Trickery Hits Comex Delivery Market
In this week’s Live from the Vault, Andrew Maguire exposes the insider manipulation behind Monday’s counterintuitive gold and silver crash, which saw the gold price-driven $90 lower.
The precious metals expert explores the connection between Basel III and the orchestrated price move and declares the stage now set for gold and silver to rally.
Kinesis is a revolutionary gold & silver monetary system operating on the blockchain, based 1:1 on allocated gold and silver, providing users with a stable store of value. One that rewards you every month, allowing you to send, spend and trade in digital gold and silver.
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.
