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Can gold tackle $1,850 next week? The Fed is focused on employment data and so should you – analysts
The outlook on gold improved after the slightly dovish Federal Reserve Chair Jerome Powell's comments this week. But can the precious metal sustain this momentum following a double-digit drop on Friday?
Analysts told Kitco News to watch the July U.S. employment figures, scheduled to be related on Friday.
The Fed's announcement this week was quickly interpreted as dovish once Powell told reporters that the U.S. has not reached "substantial further progress" to pursue tapering. Read More
Are gold stocks set for explosive growth like last summer? Yamana exec Peter Marrone on challenges, opportunities
With the challenges of shutdowns brought by COVID-19 largely behind us, miners can now focus on rebuilding production to maximum capacity.
Inflation now remains the biggest challenge to miners, said Peter Marrone, executive chairman of Yamana Gold. Read More
Investors will get back into the mining sector when gold prices get back to $2,000 - Outback Goldfields CEO
Although conditions have improved, the mining sector remains undervalued and struggles to attract capital from generalist investors.
However, Chris Donaldson, CEO of Outback Goldfields, said that he is optimistic that attention will return to the mining sector. He added that investors won't be able to ignore the industry when gold prices push back above $2,000 an ounce.
"We're just waiting for this action to occur, and I think it's coming here real soon. In the back half of this year, we'll finally see some movement," he said. Listen to the Podcast
Gold is trading marginally lower leading into the European open
Gold has kicked off the new week on the back foot. The precious metal is trading -0.33% lower but just above the $1800/oz psychological level. Silver is just marginally higher at the time of writing hovering at $25.50/oz. In the rest of the commodities complex, copper is trading close to $4.50/lb around 0.44% in the black and spot WTI has lost -0.75% after a few decent sessions. Read More
Gold struggles with no interest
Gold’s trend finally reversed to long and promptly got hammered on Friday. The $16.00 drop is no big deal in the big scheme but painful just the same. As expected, volume is pathetic. In other words, there is a lack of interest in markets in general. Read More
Gold slips on improving risk appetite, U.S. jobs data in focus
Spot gold may revisit July 23 low of $1,789.98/oz - technicals
* M&A rush, earnings power European stocks to new highs
* Dollar down 0.2% against its rivals
Aug 2 (Reuters) - Gold prices fell on Monday as an increase in appetite for riskier assets weighed on the safe-haven metal, while investor focus turns to a key U.S. employment report due later in the week to gauge the health of the labor market. Read More
Ep.43 Live from the Vault: Swiss Refiner Email Reveals Basel III Impact
As the month draws to a close, Andrew Maguire assesses the gold and silver markets ahead of tomorrow’s Options Expiry and marks his price expectations for the precious metals by year’s end.
With January 2022 fast approaching, the precious metals expert details why the LBMA will feel the squeeze of Basel III months ahead of its official exposure to the ruling. Additionally, the long-time wholesaler reveals an email from a Swiss refiner that illustrates the evaporation of LBMA-controlled paper market liquidity.
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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.
