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'Most violent' bull market is here: Gold looking at $5K, silver at $50 in just 3 years — Chancery Asset Management The gold and silver bull market is in its early stages, and it is already looking to be one of the most volatile bull runs, according to Chancery Asset Management founder Thomas Puppendahl. The COVID-19 outbreak was just “one snowflake that let the avalanche come down,” Puppendahl told Kitco News on the sidelines of the Mines and Money Online…

After 'momentary correction' gold price is ready to attack $1,800 and higher – analysts Gold is looking at another volatile week with an attempt at breaching the $1,800 an ounce level, according to analysts. The yellow metal is wrapping up a very exciting trading week after seeing prices hit 7.5-year highs and climbing to $1,796.10 on Wednesday. After some consolidation, prices are back above $1,770 with August Comex futures last trading at $1,780.10, up 0.54% on the day. The risk-off…

The reasons behind all the Chinese M&A Rapidly depleting resources and permission to build businesses at scale are some of the reasons Chinese miners are making so many acquisitions, said Scott Trebilcock, CEO of KORE Mining. Tebilcock joined Kitco's Michael McCrae and Mining Journals' Paul Harris on Friday for a discussion of major mining news of the week. In a research piece from last week Haywood noted that there have been four acquisitions backed by Chinese entities this year, and…

Higher gold prices will continue as long as Covid-19 does The fundamental factors which have taken gold pricing from $1460 in March, to within four dollars of $1800 per ounce this week are still present, and they continue to be highly supportive of gold prices. First and foremost, and at the root of other fundamental issues is the global Covid – 19 pandemic which is now in its fourth month. In that short period of time the total number of…

What trend-line analysis suggests gold prices will be on Jan. 1 – brace yourself I don't like to beat around the bush and I'll bet you don't either. So, let's make this quick. Nearby Comex gold futures hit a 7.5-year high of $1,783.10 Wednesday. The August futures contract hit a high of $1,796.10. The all-time high in nearby gold futures was $1,920.70, hit in September of 2011. Take a gander at the weekly continuation chart for nearby Comex gold futures.…

Russia ramped up gold production right before COVID-19 hit Prior to the coronavirus paralyzing the world, Russia was ramping up its gold production, according to the Union of Gold Producers of Russia. Russia’s total gold output reached more than 64 metric tons in Q1, which is up 5.11% from the same period last year, the union said. “The coronavirus pandemic did not impact Russian gold mining companies’ production performance during the first three months of 2020. On the contrary, the…

Low interest rates will last more than two years – David Rosenberg It is inevitable that the global economy will see a bounce in activity after being devastated by the COVID-19 pandemic, but don’t expect it to reach pre-crisis levels any time soon, according to one economist. In an interview with Kitco News, David Rosenberg, chief economist at strategist at Rosenberg Research and Associates, not only warned investors to expect a slower economic recovery but also that they shouldn’t look…

Analysts ask if gold is ready to push above $1,800 Building on Friday's momentum, gold prices are starting the week on a strong note and are pushing back to within striking distance of critical resistance at $1,800 an ounce. August gold futures last traded at $1,771.70 an ounce, up 1% on the day. According to market analysts, gold is getting a boost Sunday evening as investors start to question the health of the global economic recovery as the COVID-19 pandemic…

Goldman raises 12-month gold forecast by 11% to $2,000 an ounce Silver’s 12-month forecast pegged at $22/oz Gold prices are likely to reach $2,000 an ounce in 12 months on the back of low real interest rates and concerns over currency debasement, even as developed markets emerge from COVID-19 lockdowns, lifting risk-on sentiment, according to a note Friday from Goldman Sachs. The investment bank raised its 12-month forecast on gold to $2,000 an ounce, from $1,800. It also lifted its…