Gold has room to push to $1,600 in the short term UBS A correction in equity markets due to shifting economic growth expectations could be the catalyst to push gold out of its narrow range, according to one market strategist. In a recent report, Joni Teves, precious metals strategist at UBS, said that although gold is currently stuck in no man's land, there is potential for prices to push to $1,600 an ounce. The question is, for how long can…
Gold poised for a weekly gain as virus fears lift safe-haven demand * Gold on track for a weekly rise * U.S. consumer spending slows * China reports 121 new deaths and 5,000 new coronavirus cases * Palladium up over 4% for the week so far Gold prices rose to the highest level in more than a week on Friday, on track for a weekly gain, as investors bet on the safe-haven metal to hedge against the economic impact of…
Temporary suspension of trading KVTs on the Kinesis Exchange At Kinesis, we strive to deliver value to our clients, and Kinesis Velocity Token (KVT) holders. The value of KVTs, as outlined in our blueprint, is derived from a fully operational product suite, designed to deliver yields based on transaction fees and velocity. Velocity is key to the success of the Kinesis Monetary System, and we have taken the position to preserve the value of the KVT until we deliver our…
Bitcoin versus gold, you need THIS during outbreaks like coronavirus – analyst Bitcoin has risen 48% since the start of 2020, far outperforming gold, and this may be due in part to the coronavirus, said Clem Chambers of Investorshub.com, who considers the largest cryptocurrency to be the “flight asset of choice”. “Bitcoin is now proven to be of use, because you can buy it and turn it into fiat very, very quickly and very, very easily international. So, if you…
Gold, silver prices gain as coronavirus outbreak escalates Gold and silver prices are moderately higher in midday U.S. futures trading Thursday. Some risk aversion is back in the marketplace late this week, as the coronavirus outbreak has escalated in China. February gold futures were last up $7.00 an ounce at 1,578.60. March Comex silver prices were last up $0.118 at $17.61 an ounce. New cases of coronavirus increased markedly Thursday in China's Hubei province. There were over 14,800 new cases…
There is no fear in the markets, but there should be, here’s why -The market is already veering towards a recession, but stock markets are not responding accordingly, this according to Todd “Bubba” Horwitz of BubbaTrading.com. “I think, we’re in the early stages of a recession,” Horwitz told Kitco News. “cheap money continues to fuel the markets.” Gold and silver will both eventually move much higher, but in the short-term, metals will follow their trajectory, meaning gold will move higher…
Gold slips as stronger dollar, risk-on sentiment weighs * Dollar index at four-month peak * Global share markets hit record highs Gold prices dipped on Tuesday as the dollar held firm and investors opted for riskier assets after a fall in the number of new confirmed cases of coronavirus in China eased some of fears over global economic impact. Spot gold was down 0.3% at $1,567.26 per ounce by 1:43 p.m. EST (1843 GMT), having touched its highest since Feb.…
LME metals rebound after Friday’s correction, but prices weaker in Shanghai The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board. There is still much uncertainty around the impact of the Wuhan coronavirus (2019-nCoV), but with more businesses returning to work in China this week, we might get a better feel for the likely…
Gold steadies as coronavirus fears counters China economic data * Coronavirus death toll crosses 900 * Dollar touches 4-month peak By Asha Sistla Feb 10 (Reuters) – Gold prices held steady on Monday, as rising concerns over the severity of the coronavirus outbreak and its impact on the global markets offset slight pressure from positive economic data from China and the United States. Spot gold was little changed at $1,569.05 per ounce by 0313 GMT. U.S. gold futures were flat…
Gold mine gangs tote AK-47s to outgun South African Police Barberton Mines are now using state of the art equipment to trace illegal miners. Gold mines offer soft targets for syndicates that previously specialized in cash-in-transit heists. Picture: Simphiwe Mbokazi JOHANNESBURG – At 10 p.m. on the second Sunday in December, a criminal platoon armed with AK-47 and R6 assault rifles stormed one of the largest gold mines still operating on South Africa’s fabled Witwatersrand basin. Moving with military precision,…