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Gold dips as equities climb on vaccine cheer – stimulus hopes support Gold prices eased on Wednesday as encouraging vaccine developments pushed investors towards riskier equities, although hopes for more U.S. stimulus kept bullion near two-week highs hit in the previous session. Spot gold fell 0.3% to $1,865.46 per ounce by 0309 GMT, after hitting its highest since Nov. 23 at $1875.07 on Tuesday, while U.S. gold futures eased 0.3% to $1,870.20. "Gold still has some firepower from all the…

Bitcoin is challenging gold – Gold price outlook is 'no longer overwhelmingly bullish,' says UOB Why has the gold price rally stalled, and is bitcoin to blame? Singapore's United Overseas Bank (UOB) says the massive surge in crypto's popularity could be partly responsible, but it is far from being the sole cause. One of the reasons why November was such a difficult month for gold was a clear loss of interest in the precious metal, especially when it came to…

Raoul Pal sold his gold because 'bitcoin is eating the world' – $300k price in 18 months Bitcoin is like a call option to the emergence of cryptocurrencies in the world, said Raoul Pal, CEO of Real Vision. "I've never seen anything like what is going on right now. You have a limited supply asset that now is a globally recognized brand that everybody knows, but not everybody understands. What's happening now is institutions are coming into the space," Pal…

The heat is on, as lawmakers scramble to pass a relief legislation In the words of Glenn Frey; “The heat is on … The pressure's high” Unquestionably there is an immense amount of pressure for lawmakers to come to a understanding and pass a greatly needed fiscal stimulus package before the end of the year. It is critically important that aid is available to those 10 million American individuals who are unemployed with their benefits running out this month. Concurrently…

  Bipartisan stimulus package framework could be completed this weekend In the words of the famous author Mark Twain, “If you don’t read the newspaper, you’re uninformed. If you read the newspaper, you’re misinformed.” These words seem to resonate in regards to the current news about the ongoing negotiations to come up with a fiscal stimulus proposal that will be palatable to both sides of the political fence. If you have been following the current news, although you might be…

Peter Hug – Gold, silver prices bounce off support, can rally last? Gold rose 2% on Monday, with silver up 5.5% on the trading session. Peter Hug, global trading director of Kitco News, said that fundamentals line up with this rally. Equities also saw a bounce. Hug said that talks of a new round of fiscal stimulus is adding fuel to the risk-on sentiment while driving money to precious metals at the same time. The U.S. dollar weakened on the…

This is only the start for gold prices as bitcoin hits an all-time high – currency debasement will drive prices higher – Charlie Morris The gold market is struggling to find near-term bullish momentum as the price trades below $1,800 an ounce; however, one fund manager said that if investors want to know where the precious metal is heading, they need to look to bitcoin. Monday, the digital currency pushed to a new all-time higher within striking distance of $20,000.…