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Chinese gold demand from millennials picks up
With Indian gold being hit badly by the pandemic it seems Chinese millennials are picking up the slack. In the nation, there seems to be a trend with 20-30-year-olds in which gold is making a massive comeback.
The demand for gold in China recorded a strong rebound triggered by a notable jump in demand for gold jewelry among consumers. The initial H1 period of the year witnessed boosted sales of gold jewelry items, such as gold bracelets, pendants, earrings, and necklaces made of modern as well as traditional designs. Read More
Gold reverses while silver and platinum remain short
After a solid run higher, gold has finally reversed to the long side. The action has been precarious at best, but the pattern has changed. As of this morning, we are now long gold, and the key support level is $1,790-$1,800 December gold futures. We will now look for a big run higher.
Silver and platinum remain in the doldrums. For December silver futures, $24.50 is the major resistance to overcome before we will see a reversal. In platinum October futures, the major resistance level is 1025-1030. Read More
This week, Andrew Maguire explores the unique conditions that have seen refiners buying back COMEX physical silver for the first time in the history of the Futures market.
With his usual surgical analysis of the markets, the precious metals expert timelines the events that have helped form the perfect base for gold and silver to rally.
The opinions expressed in this video of Andrew Maguire and any guest, do not purport to reflect the official policy or position of Kinesis.
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Gold up at midday in choppy, two-sided summertime trading
Gold prices are trading mildly up in midday U.S. trading Tuesday. Gold and silver have traded both sides unchanged today in choppy price action. Both metals have seen their near-term chart postures improved recently and that’s inviting the technical-based speculators to the long side of the futures markets.
It’s been and likely will continue to be a quieter trading week on this unofficial last week of summer for Americans, ahead of the three-day Labor Day holiday weekend. October gold futures were last up $2.20 at $1,812.00. September Comex silver was last down $0.12 at $23.84 an ounce Read More
Buy when the big boys buy, and it seems some of the big boys are buying gold
The most recent Commitment of Traders (COT), which is published every Friday and lags one week behind real-time data, indicated that there has recently been a shift in market sentiment amongst money managers. The shift I am referring to is that the most recent report derived from data collected for the week of August 24 clearly showed that money managers have been positioning themselves based on the assumption that gold is moving higher.
Currently, the collective positions of money managers are holding 126,636 net long contracts. Concurrently the number of short positions has been diminishing. The recent increase of net long positions in gold resulted in an increase in their holdings by almost 30%. Read More
Silver unlikely to track gold again, may ‘never go back as money’, here's why - Lobo Tiggre
Even if the world enters into another gold standard, silver, which has historically been used as money, may not retain that role in the future.
“Even if global finance adopts a new gold standard in the future, silver may never go back into circulation as money,” Tiggre wrote in a recent research report.
Speaking to David Lin, anchor for Kitco News, Tiggre said that blockchain technology is now able to fulfill much of the role that silver has historically played, which is to represent fractions of the value of an ounce of gold. Read More
The gold price is 12% undervalued as it faces monetary policy headwinds - WisdomTree
The gold market has been a frustrating trade for many investors as the precious metal struggles to find some bullish momentum even as real interest rates remain well entrenched in negative territory.
In an interview with Kitco News, Nitesh Shah, director of research at WisdomTree, said that looking at the U.S. dollar, interest rates, and inflation, gold prices should be trading around $2,000 an ounce. Read More
Gold and silver are mixed heading into the European open
Gold and silver are mixed this morning with gold trading 0.12% higher and silver trading -0.22% in the red. Both precious metals have been contained within their ranges and the market could get more volatile as we head into Friday's NFP reading. In the rest of the commodities complex, copper has fallen 1.50% and spot WTI has used 0.50% into the black. 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.
