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Jerome Powell says that the economy's path ahead likely to be challenging The primary mandate of the Federal Reserve has been to prioritize the goal of maximum employment at the top of the list. Not since the days of the Great Depression has this task been so daunting. Last week an additional 1.5 million Americans filed for unemployment benefits even though there have been signs and sources touting that the economy has been improving. For the week ending on June…

Gold pricing; the last four years and $500 later It is important to have realistic goals in terms of where we believe gold pricing is headed, and more importantly how long it will take to get there. First and foremost, we must acknowledge the tremendously large move that we have seen over the last four trading years. The multiyear correction began in the middle of 2011 and concluded at the beginning of 2016. This correction took gold pricing from its…

Gold price to break record by year-end; bullion premiums normalizing – Peter Hug Gold prices could see 2011 highs of $1,920 an ounce or higher, said Peter Hug, global trading director of Kitco Metals, who noted that a full economic recovery won’t materialize until later next year. While seasonal softness is expected for the yellow metal during the summer months, the medium term trajectory is still constructive, Hug said. “Short-term, especially given the seasonal factors, [gold prices] have a bit…

Thieves make off with C$10 million in silver bars Robbers used fake documents to steal $10 million of silver bars from a Montreal-based transportation company. On January 20 robbers took possession of a container filled with 596 silver ingots using fake documents, according to a report by CTV News. The police are asking for tips that could solve the case. Call the Info-Crime line at 514-393-1133. A reward of up to $2,000 will be given to anyone who can provide…

U.S. equities and the U.S. dollar weigh heavily on gold pricing There were mixed results in the precious metals today, with extreme dollar weakness providing a tailwind. While gold traded lower on the day, the industrial precious metals including platinum, palladium and silver all closed with gains. The industrial precious metals benefited from the reversal in U.S. equities from negative to positive on the day. However, the most noteworthy aspect in the precious metals’ futures market today was the exaggerated…

Market volatility is bullish for gold: Is $1,800 back on the table next week?Anna Golubova Anna Golubova Gold is on a roll as market volatility is working in favor of higher prices amid renewed concerns about the U.S. economic recovery and the second COVID-19 wave. But is it enough to finally break gold out of its trading range? Gold has turned its losses around this week with the precious metal rallying 3.5% since last Friday's close after the Federal Reserve…

The Potential Looming Catalyst for Silver No One Sees Coming There are a number of catalysts that could ignite the silver market over the coming months and years. To Mike and I it seems inevitable that silver will be a direct beneficiary of the monetary madness that defines the world of central banking today. Give us some headline-making inflation, for example, and a roaring bonfire in the silver market will be underway. But there’s another potential catalyst that is so…

If gold is gaining why is M&A muted? The Fed announcement on Wednesday that interest rates would stay unchanged, as well as signaling no rate hikes through 2022, sent gold higher with Comex gold futures finishing the week $32 higher at $1,737 an ounce. Kitco's Michael McCrae and Neils Christensen sat with sector specialist Luis Rivera to discuss where gold could be headed next. Money is flowing into the mining sector, but M&A could be muted by COVID-19 restrictions. Twenty-twenty's…

Gold to shed $150 by year-end as fear of runaway prices is premature: Capital Economics Gold prices are likely to end the year at $1,600 an ounce, which is $150 below the current level of $1,750 an ounce, according to Capital Economics. The main reason for such a bearish outlook is the argument that fears of runaway inflation are premature in the short and medium term, said Capital Economics commodities economist James O’Rourke. 74% of retail investor accounts lose money…

The Federal Reserve signal's ZERO is here to stay Today the Federal Reserve convened this month’s FOMC meeting. The most important statement made by the Fed at the conclusion of this meeting was that the United States Federal Reserve does not plan to raise interest rates until 2022. Interest rates will stand where they currently are; at near zero. The Fed also reiterated that the Central Bank will continue to buy Treasuries as well as mortgage-backed securities at the current…