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Gold price reacts: Fed's Powell says he hears inflation worries 'loud and clear,' but remains dovish
Gold rallied more than 1% on the day as Federal Reserve Chair Jerome Powell said he hears America's inflation worries "loud and clear" while still viewing these price spikes as temporary.
The August Comex gold futures were last trading at $1,826.80, up 0.93% on the day.
Powell faced a swarm of questions surrounding high inflation and what the Fed plans to do about it during his testimony before the U.S. House Committee on Financial Services on Wednesday. Read More
The gold price moves higher again leading into the European open
After another great session on Wednesday gold has moved higher once again overnight trade at $1831/oz. Silver (0.44%) is also positive leading into the European open but the chart structure is not as strong as the yellow metal. In the rest of the commodities complex, copper is 0.89% higher while spot WTI has lost another -1.25% after struggling yesterday. Read More
Newmont gets funding approval for the best-unmined gold deposit in West Africa
Newmont Corporation (NEM:NYSE & NGT:TSX) announced that its board of directors has granted approval for advancing the Ahafo North Project into the execution phase. The project exceeds the Company's required internal rate of return, adding profitable production from the best-unmined gold deposit in West Africa.
Newmont President and CEO, Tom Palmer "I am pleased to announce the approval of full funding for the Ahafo North Project, expanding our existing footprint in Ghana and adding more than three million ounces of gold production over an initial 13-year mine life," Read More
Gold, silver see steady price action ahead of Powell, round 2
Gold and silver prices are trading near steady in early U.S. dealings Thursday. The marketplace awaits Federal Reserve Chairman Jerome Powell’s testimony to a Senate committee after he leaned easily on monetary policy when speaking to a House of Representatives panel on Wednesday. August gold futures were last up $1.40 at $1,826.40 and September Comex silver was last up $0.044 at $26.315 an ounce. Read More
Live from the Vault, Andrew Maguire breaks down the gold and silver markets in the wake of the Basel III June 28th implementation date.
The precious metals expert addresses differing opinions on Basel III explains his bullish outlook for the historic ruling and makes the case for a gold price reevaluation.
Andrew Maguire is also joined by proud Wall Street Silver member and sound money advocate, Jim Forsythe, to talk all things silver and discuss the latest initiatives of his non-profit organization, Citizens for Sound Money (C4SM).
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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.
