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Why are stocks and gold both under so much selling pressure? Over this entire trading week analysts, traders and investors have remained bewildered not so much at the extent of the selloff, but analysts and investors were even more perplexed at the major selloff that occurred in gold in tandem with an asset class that traditionally carries a negative correlation. With so much warranted selling pressure in global equities many have been perplexed as to why gold found no support…

Shark Tank's Robert Herjavec: the scariest threat to safety is not just coronavirus The coronavirus has not only left the world paralyzed with fear of getting sick, but also presents new opportunities for hackers to attack the private sector, this according to Robert Herjavec, founder and CEO of Herjavec Group and star of Shark Tank. “Robert Mueller had a great saying, which was ‘there’s only two types of companies, those that have been hacked and those that are about to…

Catching gold's elusive $1,700 level: Prices eye coronavirus cases, U.S. Super Tuesday — Pepperstone The pullback in gold prices offers a buying opportunity, according to Pepperstone, which remains bullish on the yellow metal as it looks to add longs on a move through $1,660 an ounce. “Investment case hasn’t changed. We are seeing more compelling signs playing through. Gold is trading as a currency in its own right,” Pepperstone’s head of research, Chris Weston, said on Wednesday. Gold has made…

Looking to $2,000 gold price: Coronavirus is the ‘straw that broke the camel’s back’ — Sprott CEO The coronavirus was the shock that gold was waiting for before moving to higher levels with charts now pointing to an eventual breach of $2,000 an ounce, according to Peter Grosskopf, CEO of Sprott Inc. “What the coronavirus added [was] a shock to the economy. I would call it a straw that broke the camel’s back. Economies were already at best shuffling along…

Volatility ramps up in gold as COVID-19 spreads On Friday gold futures closed up in double digits with a net gain of over $20 on the day. This led to the only time we see gold prices gap extremely higher, or lower; the weekend. As gold reopened Monday morning in Australia it did so with a powerful upside move. After closing just above $1643 per ounce on Friday, gold prices opened at $1656 and then began a substantial, but short-lived…

Gold and palladium both have a historical week This was truly an historical week for traders of the precious metals. Both gold and palladium made substantial and strong upside moves resulting in a all-time new record high for palladium, and gold reaching a seven-year high. There are distinct differences in the rationale and reasons that these two metals had such strong gains. In the case of palladium, it is a simple issue which revolves around a growing demand, and a…

Wheaton Precious Metals (NYSE: WPM) exceeded its year end guidance in its production report released tonight. In 2019 gold equivalent ounces came in at 706,900, up from 690,000 forecast for the year. The gold equivalent ounces was made up of gold at 406,604 oz, silver at 22,544 ounces and palladium at 21,993 ounces. The 2020 forecast is for 685,000 to 725,000 gold equivalent ounces. "In 2020, gold production is forecast to remain strong primarily driven by Salobo and San Dimas.…