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Gold market lacks conviction ahead of Friday's employment numbers
The gold market continues to suffer from a lack of conviction as renewed selling pressure Tuesday keeps prices bound below the 200-day moving average. However, analysts also note that the price continues to hold critical support above $1,790. Read More
Allocation to Gold Is Set to Rise. How Will Prices Respond?
The latest WGC reports show that institutional allocation to gold will increase. What if there is more to it than just “higher demand, higher price”?
In July the WGC published three interesting reports. The first one, Rethink, Rebalance, Reset: Institutional Portfolio Strategies for the Post-Pandemic Period, is an interesting survey of 500 institutional investors around the world ran by Greenwich Associates between October 2020 and January 2021. The study investigated investors about portfolios, allocations, and views on various markets, gold, and other individual asset classes. Read More
August could be a 'terrific' month for gold, says Jim Cramer
The last month of the summer is looking "terrific" for gold and "tough" for the S&P 500, said CNBC's, Jim Cramer.
"The charts, as interpreted by the legendary Larry Williams, suggest that August could be a tough month for the S&P 500, but a terrific month for gold," Cramer said Monday. "Given the big picture backdrop right now, that wouldn't surprise me one bit."
And it is the seasonality which makes all the difference, the 'Mad Money' host explained. Read More
Gold reserves fell 10% in 2016-20, but enough to support production for over 10 years - report
According to the data by Metals Focus, a leading independent precious metals research consultancy, combined gold reserves at almost 400 primary gold projects fell by 10% over the last five years. Read More
This week’s jobs report will set the tone for the next steps from the Fed
Ever since last Thursday when gold ran from $1806 to $1831 immediately following last month’s FOMC meeting gold has been consolidating with a definitive bias to the downside. However, recent action has been muted at best with small price changes from day to day, as well as from open to close. It seems as though market participants are waiting for the next big fundamental event which will be the U.S. Labor Department’s jobs report released this Friday. Read More
Gold and silver move higher heading into the European open
Gold and silver have both moved higher leading into the European open. The yellow metal found some support as the bears tried to take the precious metal towards $1800/oz again and now trades at $1814/oz. Silver is 0.70% higher at $25.66/oz. In the rest of the commodities complex, copper is 0.32% higher and spot WTI has also risen 0.21%. Read More
Gold price at session highs following disappointing ADP employment data
The gold market is holding near session highs after labor market data shows that the private sector higher fewer workers than expected in July, according to the latest report from private payrolls processor ADP. Read More
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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.
