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Gold price is in 'hibernation,' but it is going 'a lot higher' - Bond King Jeffrey Gundlach
Billionaire "Bond King" Jeffrey Gundlach sees the U.S. dollar on the decline and gold going a lot higher after the precious metal leaves its hibernation mode.
"My number one conviction looking forward a number of years — I'm not talking about the next few months at all, I'm talking about several years — is that the dollar is going to go down," DoubleLine CEO Jeffrey Gundlach told Yahoo Finance. "The dollar going down is another reason why we touched on gold. I think ultimately gold is going to go a lot higher, but it's really in hibernation right now." Read More
Kinesis Launches Segregated Facility for Coins and Bars
We are proud to announce the launch of a new segregated storage facility for gold and silver coins and bars, now accessible through the Kinesis Mint. This means that users can now bring their eligible* coins and bars into secure, segregated storage within the Kinesis vaults, through the Exchange Physical for Digital (EPD) process.
The expansion of the existing EPD program to incorporate gold and silver coins and bars, allows collectors worldwide to convert the fine weight of their holdings into Kinesis gold (KAU) and silver (KAG), and access all the benefits of the Kinesis Monetary System. Read More
Gold price struggles due to new competition, not fundamentals, says Wells Fargo
After hitting new record highs over a year ago, gold has struggled to trade above $2,000 an ounce, and Wells Fargo says this is due to new competition and not gold's fundamentals.
And that competition is, of course, bitcoin.
Gold has been trading around $1,800 for the last couple of weeks, unable to breach that level after the previous flash crash at the beginning of August.
All of that is happening despite quite favorable macroeconomic conditions, which should have pushed gold higher, said Wells Fargo's head of real asset strategy John LaForge. Read More
Silver price supported by growing industrial demand - Metals Focus
The silver market has been attracting new attention as the precious metal underperforms in the marketplace. However, many analysts have said that the metal is significantly oversold and due to a bullish correction.
In a report published Wednesday, commodity analysts at Metals Focus said that they remain bullish on silver as the metal's industrial demand continues to look bright. They added that industrial demand, which makes up about 50% of the silver market, will provide some critical support for prices. Read More
Gold gains a bit on some safe-haven demand, bargain buying
Gold prices are modestly higher in midday U.S. trading, on some safe-haven demand and bulls taking advantage of the earlier dip in prices to do some bargain hunting. Silver prices are moderately lower. October gold futures were last up $3.50 at $1,792.30. September Comex silver was last down $0.21 at $23.565 an ounce. Read More
In this lesson, we explore digital gold and silver. Learn how you can become your own central bank. From how the underlying bullion is allocated, through to purchasing and creating these digital units of physical gold and silver.
Kinesis is a revolutionary monetary system operating on the blockchain, based 1:1 on allocated gold and silver, providing provides 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.
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Gold steady as investors eye taper clues from Fed symposium
Gold prices were steady on Friday, as investors awaited Fed chief Jerome Powell's speech later in the day at the Jackson Hole symposium after some U.S. central bank officials called for paring bond purchases.
Spot gold rose 0.1% to $1,793.68 per ounce by 0104 GMT. U.S. gold futures rose 0.1% to $1,796.70. Read More
Fourth-quarter could be as good as it gets for gold; prices to peak at $1,900 - Bank of America
The gold market has lost its sparkle as investors continue to focus on when the Federal Reserve will start to tighten its monetary policy by reducing its bond-purchasing program, according to commodity analysts at Bank of America.
In its latest forecast published Thursday, Bank of America expects gold prices could push to $1,900 an ounce at the end of the year. However, it expects the average price to come in around $1,800 an ounce in the final three months of the year. The fourth quarter could be the highwater mark for the precious metal as the bank sees prices gold steady at around $1,800 an ounce through the first half of next year.
The analysts said that bullish momentum in the U.S. dollar and rising bond yields present challenges for the gold market. Read More
Gold remains above the 50-day moving average as traders await Powell's speech
Tomorrow traders and investors will get more clarity and insight as chairman Jerome Powell speaks at the Jackson Hole Economic Symposium virtually. As of 6:01 PM EST gold futures basis, the most active December 2021 Comex contract is fixed at $1794.50 which is approximately $0.70 below the effective close in New York as gold now trades in Australia. In New York gold traded to an intraday low of $1781.30 and a high of $1800.40. Read More
German physical gold purchases increase to a decade high
Germany has always been the biggest physical gold buyer in Europe (traditionally). In the first half of the year, gold demand has hit its highest level in a decade. Data from the World Gold Council (WGC) showed H1 demand for bar and coins in Germany increased by 35% from the previous six months, compared with 20% in the rest of the world. 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.
