Making the case for $3,000 gold: the power of scarcity Despite the gold price hitting all-time highs this year, growth for both the bullion and the gold mining sector is just getting started, with gold expected to expand to the $3,000 an ounce range, said Jeff Pontius, CEO of Corvus Gold. “I think we’ve got a fundamental market that’s got a lot of legs left in it. I think we’ll easily see gold move into the $3,000 an ounce range,…
This driver could 'propel' gold price back to its new all-time highs – Bloomberg Intelligence There is one driver that could really re-ignite the gold price rally during this turbulent fourth quarter, according to Bloomberg Intelligence (BI). All macro and political risks aside, a peak in the dollar is the one factor that can push gold significantly higher, BI senior commodity strategist Mike McGlone said in his Q4 update. "Gold is likely to remain atop our macro-performance scoreboard in 4Q,"…
Gold price has bottomed, $4k target for either Trump or Biden victory – Frank Holmes Gold has traded sideways for the last few weeks, but the price action is forming a bottom, said Frank Holmes, CEO of U.S. Global Investors. Despite market volatility ahead of the November presidential election, Holmes maintains his $4,000 price target. “The bottom that you’re seeing in gold is like a perfect Miami beach bottom. Gold will go up and it will go down, the DNA…
Gold price tumbles 2% as Trump calls off stimulus talks with Democrats Gold plunged along with stocks after U.S. President Donald Trump called off stimulus negotiations with the Democrats “until after the election.” The yellow metal once again fell below its key $1,900 an ounce level that it was trying to breach on a sustainable basis this week. At the time of writing, December Comex gold futures were trading at $1,881.50, down 2.01% on the day. “I have instructed my…
Central banks could be stepping up gold purchases after 2020 pause Cntral banks around the world are likely to re-engage with gold purchases in 2021 after this year's pause, according to several banks and research firms. The official sector's gold purchases reached record levels in 2018 and 2019, seeing a total of 656 and 667 tons bought respectively. Gold demand from the official sector is looking to end 2020 at just 375 tons — the lowest level in a decade,…
Analysts see gold on the upswing after holding support at $1,850 The gold market could have turned a corner and is now heading higher as prices look to end the week above $1,900 an ounce and sentiment among retail investors and market analysts is looking bullish, according to the latest results of the Kitco News Weekly Gold Survey. Although both Main Street investors and Wall Street analysts expect to see gold prices push higher next week, there is still some…
Gold and silver follow up & future predictions for 2020 & 2021 RESEARCH HIGHLIGHTS: Uncertainty and cycle events will likely lead to continued Gold and Silver price appreciation until the cycle events end (likely in 2024 or 2025). The gold/silver ratio chart shows very clear levels of support and resistance. With the next targets $2,000-$2,250, $3,200 then $5,500+. Extended basing may continue for the next 2 to 4+ months. I have received many comments and questions related to our Gold…
What does Trump's COVID-19 news mean for gold price next week? There is a lot of confusion in the marketplace after U.S. President Donald Trump tested positive for coronavirus. Still, analysts remain bullish on gold next week, aside from a few caveats to watch out for. "The Trump news trumps everything else – economic data, the stimulus package, etc.," said Phoenix Futures and Options LLC president Kevin Grady. "Gold pulled back a bit. But with all the money out there,…
Gold traders are buying the rumor, will they sell the fact? During this election year there has been a multitude of events which have created a climate of uncertainty. In the short-term market participants are awaiting tomorrow’s data when the U.S. Labor Department releases the jobs report for the month of August. Economists are currently forecasting that the nonfarm payroll numbers will indicate an increase of 875,000 new jobs being created last month. They are also forecasting that the unemployment…
Presidential debate was more like a mixed martial arts title fight While there were brief moments in which either former vice President Biden or President Trump actually spoke about the real issues, in almost every case the candidate answering the question was rudely interrupted by his opponent. In the case of last night’s debate, the interruptions were not equally distributed by both candidates, with President Trump continually speaking over former vice President Bidens attempt to answer the question posed to…