x
Image Source: Unsplash
Gold, silver gain amid friendly outside markets
Gold and silver prices are moderately higher in midday U.S. trading Wednesday. A lower U.S. dollar index, a dip in U.S. Treasury yields, and higher crude oil prices at mid-week are metals-friendly daily outside market forces. February gold was last up $9.50 at $1,798.20 and March Comex silver was last up $0.226 at $22.755 an ounce.
A bevy of U.S. economic data released today hit an insignificant impact on the precious metals markets. Gold and silver bulls were impressed by their metals' performances today despite the better risk appetite in the marketplace.
Global stock markets were mixed in overnight trading. U.S. stock indexes are higher at midday. President Biden on Tuesday afternoon said he and Sen. Joe Manchin will work on getting a U.S. spending bill complete after Manchin nixed the latest White House proposal. That has helped to assuage the marketplace. Read More
Gold, silver, and platinum, positioned to go lower
Gold, silver, and platinum are positioned to make another run to the downside. The trio remains weak and without energy, indicating lower prices are ahead. There is nothing that suggests this pattern is changing anytime soon.
While the metals remain solid long-term hard asset commodities in the present, they look to go lower. The sellers have control and continue to push at every opportunity. You must remember that all markets trend based on the time frame. The daily charts indicate lower prices are coming.
Looking back on the year in gold and silver, we have seen one of the tightest trading ranges in recent history. This type of action suggests that a much bigger move is coming. No one knows when the move will occur nor the direction they will head. We know that the daily charts are trending lower, which is why we are short paper. Read More
Only gold and Bitcoin will protect against what's to come - Alex Mashinsky's 2022 survival guide
2022 will be a year of heightened volatility from growing fears of the latest Omicron variant, as well as rising inflation, and the chance of monetary tightening from the Federal Reserve, said Alex Mashinsky, CEO of Celsius Network.
The key is to look at which economic scenario is most likely to play out and act accordingly. Read More
Silver will go 'crazy' in 2022, gold to break $2k again, speculation will end - E.B. Tucker
2022 is the year speculative money recedes from the markets, said E.B. Tucker, director of Metalla Royalty.
"Everybody is a speculator, and so next year, I expect this speculation runs out of gas. There's no more stimulus check coming. There's more liquidity coming into the average person's pocket. They got a raise this year, but everything they're buying is going up in price. Sales are slowing down. The refinance boom is slowing down," Tucker told David Lin, anchor for Kitco News. "Next year, you're going to see a rotation out of [stocks] and you're going to see a move into something real." Read More
Gold prices to average around $1,630 in 2022 if COVID-19 doesn't impact global normalization - Natixis
The normalization of the global economy in 2022 and tighter U.S. monetary policies are going to take their toll on gold and silver, according to analysts at Natixis.
In a telephone interview with Kitco News, Bernard Dahdah, precious metals analyst at the French Bank, said that he is not expecting to see a complete collapse in gold next year; however, he does expect prices to fall back to pre-pandemic levels.
In its 2022 precious metals forecast, Natixis sees gold prices averaging the year around $1,630 an ounce.
"Gold prices will still be higher than the 2010 average, but we so see a normalization in the market," he said. Read More
Can gold price rally 15% in 2022? Here are the triggers to watch
There have been a few very encouraging signs in what has been a slower year for gold, according to Perth Mint manager of listed products and investment research Jordan Eliseo.
Discouraging price action, down 5.3% on the year, has been balanced out by more substantial activity in the physical space.
"This year has been quieter in terms of Western investment markets. We haven't seen too many people selling out, but we haven't seen the same level of inflows that we did in the previous 18 months," Eliseo told Kitco News in an interview.
A year's worth of price action has to be put into a broader context to get a fuller picture of where gold is heading. And with this precious metal, it is important to recognize that it rallied nearly 70% between Q3 2018 and Q3 2020. Read More
Expect silver price to fall in 2022, but gold to rally, here's why - Jeff Christian
2022 will see silver and gold prices diverge once again, with silver falling by 2% while gold climbs in value, said Jeff Christian, managing partner of CPM Group.
“We think that gold prices will probably be flat or slightly higher, maybe 2% higher on an annual average basis next year, and silver prices might be 2% lower on an annual average basis next year. We do think that investors will continue to be buying large amounts of gold and relatively large amounts of silver, but not as much as they have in 2020 and 2021,” Christian told David Lin, anchor for Kitco News. Read More
Gold surges past $1,800 on dollar weakness and omicron fears
Both gold and silver had significant gains resulting from a combination of dollar weakness and continued fears regarding the economic effect of the Covid-19 variant omicron.
One simply needs to view both precious metals through the eyes of the KGX (Kitco Gold Index) to see the strong effect that dollar weakness had on the precious metals complex. As of 4:08 PM, EST spot gold is currently fixed at $1804.80, which is a net gain of $15.70 on the day. On closer inspection, we can see that dollar strength contributed approximately half of today’s price search. Dollar weakness accounted for net gains of $7.90, and normal trading added $7.80, which resulted in gold surging past $1800 per ounce. Read More
Gold and silver edge higher leading into the European open
Gold is back above $1800/oz as the yellow metal registered a 0.80% gain on Wednesday. Silver is closing in on $23/oz and is currently 0.33% higher. In the rest of the commodities complex, copper is 0.34% higher and spot WTI is -0.25% in the red.
Risk sentiment was good in the Asia Pac area as the Nikkei 225 (0.83%), ASX (0.31%), and Shanghai Composite (0.57%) all pushed higher. Futures in Europe are pointing towards a positive open.
Once again AUD and NZD were the biggest movers overnight. AUD/USD rose 0.26% while NZD/USD managed to just outperform and gain 0.30%. In the crypto space, BTC/USD fell -0.57%. 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 any other advice.
