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Gold, silver price unleashed – Will this summer be as explosive as 2020's? It's going to take gold until the end of the year to rally to $2,000 an ounce, said Phil Streible, chief market strategist of Blue Line Futures. "I really believe [gold] could get going. $2,000 would capture some headlines on the upside. I think it has the right dynamics for it. You need the Fed to backpedal. You need growth to kind of stall," Streible told David…

Basel III to take gold to record highs? After an unexpected selloff last week, gold is busy building support. But the $1,800 level is proving to be a struggle.   Here's a look at Kitco's top three stories of the week: 1. The Yellen-Powell duo keeps the markets on their toes as they talk down the Federal Reserve's hawkish June monetary policy meeting. Federal Reserve Chair Jerome Powell' comments U.S. Treasury Secretary Janet Yellen's comments 2. Bitcoin drops below $30,000,…

Gold and silver are trading higher ahead of the European open Gold and silver are trading higher leading into the European session on the last trading day of the week. On Thursday gold had another tricky session hitting a high of $1788.1/oz before closing lower and finishing the session at $1775.22/oz. Silver on the other hand has had two days worth of gains and has made a good start so far this morning. In the rest of the commodities complex,…

Gold's shocking fall: Is the bull market over? Gold shed nearly $100 in just 24 hours this week, with the precious metal dropping 5% on Thursday. The trigger was the Federal Reserve's interest rate announcement. A surprisingly hawkish stance led to some chaotic trading and gold dropped below the $1,800 an ounce. Here is a look at Kitco's top three stories of the week: 1. Federal Reserve signals it could raise rates twice in 2023 2. Why is gold down…

Gold is in a bearish correction or trend 6/18/21 On a higher timeframe basis: I cautioned on 8/16/18 the break above $1,179.7-$1,183.7 warned of renewed strength. We have seen $905.5 of this. This is ON HOLD. We held major exhaustion at $2,071.6-93.2 with a $2,089.2 high and rolled over $412.8 into the macro bearish correction warned about. The decent trade below $1,879.3 projects this downward $24 minimum, $76 (+) maximum. We attained $111.4. I warned we will likely have to…

Gold and silver move higher ahead of the European open Gold and silver have moved higher leading into the European session despite more bearishness on Thursday. Gold is now trading at $1785/oz while silver has moved to $26.17/oz. One of the big stories from yesterday's session was the drop in palladium. The precious metal moved 11.26% lower. In the rest of the commodities complex, copper trades 0.35% higher and spot WTI has moved -0.31% in the red. The risk sentiment…

Gold and silver trader higher leading in to the European session despite suffering heavy losses post FOMC Gold is trading 0.41% higher after losing ground following the FOMC event last night. Silver is also positive and has moved 0.46% higher and trades above the $27/oz psychological level. In the rest of the commodities markets, copper is 1% higher while spot WTI trades 0.36% in the black. After inheriting a negative handover from Wall Street, bourses in the Asia Pac area…