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Gold moves higher on inflationary concerns and accommodative central banks

Gold moves higher on inflationary concerns and accommodative central banks Now for the third day in a row, gold has scored significant gains. As of 4:25 PM EST gold futures basis, the most active December contract is currently up $9.50, or 0.53%, and fixed at $1826.40. Silver has also shown significant gains today, with the most active December contract up $0.388, or 1.61%, and is currently fixed at $24.545. While dollar weakness is a definite contributor to today’s gains in…

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Gold price jumps nearly 25 is this the start of a breakout?

Gold price jumps nearly $25, is this the start of a breakout? With the Federal Reserve's tapering and new employment data out of the way, the gold market is finally moving. Gold jumped $25 on Friday as markets started to anticipate a more patient Federal Reserve going forward. December Comex gold futures were last at $1,818.60, up 1.40% on the day. Despite kicking off tapering this month, Federal Reserve Chair Jerome Powell acknowledged uncertainty around inflation while stressing it is…

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Gold breaks out will it ‘steal the show’ in 2022?

Gold breaks out, will it 'steal the show' in 2022? It's been a very busy data week for the markets. The Federal Reserve announced tapering of its asset purchases and the U.S. economy added more than 500,000 jobs in October. Gold is finally starting to react — surging $25 on Friday and rising well above the $1,800 an ounce level. Markets now seem to be pricing in a more patient Federal Reserve going forward. Here's a look at Kitco's top…

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Gold’s not going down without a fight

Gold's not going down without a fight It has been a frustrating couple of months for gold investors as the precious metal has been unable to attract any sustainable momentum. However, it looks like the tide is turning as rising inflation makes the precious metal an attractive, undervalued hedge. Gold prices are looking to close Friday near an eight-week high above $1,800 an ounce. This is the first time since late September that the precious metal has ended the week…

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Gold surges as Bank of England mimic the Fed indicating both central banks are in no rush to raise rates

Gold surges as Bank of England mimic the Fed, indicating both central banks are in no rush to raise rates Gold prices surged in trading as the Bank of England joined the central bank of the United States, expressing that they were not in favor of raising interest rates at any time in the near future. During Chairman Jerome Powell's press conference yesterday, he made it clear that they're not even thinking about, thinking about raising rates anytime soon. In…

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The Federal Reserve announces that they will begin to taper asset purchases this month

The Federal Reserve announces that they will begin to taper asset purchases this month As expected, today, after the November FOMC meeting, both the statement and press conference by Jerome Powell acknowledged that they will begin the process of tapering their monthly asset purchases this month. Starting this month, they will reduce their monthly purchases of U.S. debt by $10 billion each month and reduce their monthly purchases of MBS (mortgage-backed securities) by $5 billion monthly. This would mean that…

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Gold price is a cheap hedge as Fed can’t control supply-side inflation pressures – abrdn

Gold price is a cheap hedge as Fed can't control supply-side inflation pressures – abrdn The Federal Reserve is on the cusp of shifting its monetary policies, but it won't be enough to stop the growing inflation pressures, and it is only a matter of time before investors return to gold to protect their wealth, according to one market strategist. As the Federal Reserve starts its two-day monetary policy meeting, expectations are growing that the central bank will reduce its…

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Gold price and silver price to ‘eclipse’ record highs in 6 months this is the trigger

Gold price and silver price to 'eclipse' record highs in 6 months, this is the trigger It's been "a mad world" out there with record-high equities, real estate and more. But the long-awaited surge in gold and silver is coming in the next six months, said Mike Larson, senior analyst at Weiss Ratings. "If you're in a world where many assets are over-valued, where real estate is extremely highly valued, stocks are extremely highly valued, and so on. What hasn't…

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Gold price at daily highs as ISM Manufacturing Index retreats but beats expectations in October

Gold price at daily highs as ISM Manufacturing Index retreats but beats expectations in October Gold prices ticked to daily highs as the headline manufacturing index from the Institute for Supply Management retreated in October but came in above expectations. The ISM manufacturing index was at 60.8% last month, beating the consensus forecast of 60.5%. But the monthly figure marked a 0.3 percentage-point decline from September's reading of 61.1%. "This figure indicates expansion in the overall economy for the 17th…

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