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Gold and silver struggle leading into the European open Gold and silver have had a heavy session overnight with the yellow metal trading -0.61% lower while silver dropped -1.34%. In the rest of the commodities complex, spot WTI fell -0.61% and copper also struggled, losing -0.69% of its value. Following a poor performance on Wall Street, the Nikkei 225 (-1.10%), ASX (-0.50%), and Shanghai Composite (-0.52%) all underperformed. Futures in Europe are pointing towards a negative cash open. In FX…

Gold and silver move up ahead of the European cash open – After a bit of a choppy session yesterday gold is trading 0.36% higher leading into the European open on Wednesday. Silver has also moved into the black and trades 0.40% up at $23.73/oz. Looking at the rest of the commodities complex, copper (0.13%) and spot WTI (0.42%) are both trading higher too. In terms of risk sentiment, the Nikkei 225 (0.59%) and Shanghai Composite (0.76%) had a much-needed…

Gold stocks have highest cash flow ever, so why are prices down? Michael Gentile – The gold mining sector is demonstrating excellent fundamentals, representing a complete disconnect between intrinsic value and market value, said Michael Gentile, strategic investor. "The industry has never been better fundamentally at a time when the least amount of investors ever have interest in the sector," Gentile told David Lin, anchor for Kitco News. Gentile cited the highest free cash flow the sector has seen in…

Gold continues to rally now just $19 shy of $1800 In yesterday's opening letter, we talked about the potential for gold to stage a corrective upside rally based upon our current Elliott wave count using daily charts. Today we saw another 29 dollars taking gold prices substantially higher. As of 5:34 PM EST, Gold futures basis the most active December 2021. Comex contract is currently fixed at $1781.50, after factoring in today's net gain of $29.70. Today's continuation to the…

Gold price well off its lows – Twitterverse sees drop below $1,700 as a buying opportunity The price action in the gold market has turned from bad to worst as the precious metal dropped to a new low for the year at the start of the Asian trading session. However, some analysts see the price action as a major buying opportunity as they expect central banks will be slow to tighten monetary policy. December gold futures lost nearly $100 as…

Already down $50, but August could still be 'terrific' month for gold Just one week into August, and gold is already down more than $50. But can the last month of the summer still prove to be a "terrific" one for the precious metal? Here's a look at Kitco's top three stories of the week: 3. August could be a "terrific" month for gold and a "tough" month for the S&P 500, says CNBC's Jim Cramer 2. Ray Dalio opts…