Gold price kicks off Q2 with gains, but can it break out? The second quarter is already looking better for gold. The precious metal was up almost $50 dollars during the first week of April as it moved past its key resistance level of $1,750. But what happens next is critical — can gold finally hold above this level as analysts cite strength in the metal's latest move higher? Kinesis Money Sytem – Manages your Gold and Silver –…
Gold futures retrace much of this week’s gains Gold futures basis the most active June 2021 Comex contract is currently fixed at $1744.10, after closing yesterday at$1756.50, the highest price since February 26. Gold futures basis the most active June 2021 Comex contract lost $14.10 in trading today. Dollar strength was a minor component in today’s price decline. Today the dollar index gained 0.111 points or 0.12%. The vast majority of today’s decline was attributed to market participants bidding the…
Gold futures surged higher on dollar weakness and inflation concerns Gold futures basis the most active June 2021 Comex contract is currently fixed at $1756.50 after factoring in today’s strong gains of $14.90 (+0.86%). Dollar weakness was partially responsible for today’s gains, but the majority of gains were due to market participants bidding the precious yellow metal higher as active buyers. Silver basis the most active May 2021 Comex contract gained $0.28, and is currently fixed at $25.525. In both…
Gold and silver trade higher leading into the EU open Gold and silver have moved higher in the Asia Pac session with the yellow metal trading 0.40% in the black at $1743oz. Silver has pushed 0.77% and trades at $25.31oz breaking through the $25.20/oz resistance level on the daily chart. The indices in the Asia Pac area have traded mixed the ASX (1.02%) and Shanghai Composite (0.14%) performed well while the Nikkei 225 traded just under flat. In the FX…
Gold and silver trade slightly lower heading into the EU open Gold and silver trade marginally lower heading into the European cash equity open. Gold is 0.13% down at $1741.70oz while silver has lost 0.16% and trades near $25.10/oz. It was another mixed session for the indices in the Asia Pac area. The Nikkei 225 (0.12%) and ASX (0.61%) closed higher while the Shanghai Composite dropped 0.29%. In the FX space, USDCAD was the biggest mover and rise 0.30% followed…
Gold price could double in 5 years, here's why yields are not a problem The best is yet to come for gold as the precious metal could start rising along with its biggest obstacle — the 10-year Treasury yields — once inflation kicks in, according to one industry expert. "One of the main drivers for gold demand is a hedge against inflation," Guardian Vaults business development manager John Feeney told Kitco News." Inflation usually comes about after a rapid increase…
Gold prices today drop, down â¹11,000 from record high, silver rates fall Gold rates today: Prices on MCX fell to â¹45,355 per 10 gram Gold rates today: Prices on MCX fell to â¹45,355 per 10 gram A strong US dollar and elevated bond yields put pressure on gold Gold saw its first quarterly drop since in three years Gold and silver prices in India edged lower today amid muted global cues. On MCX, June gold futures were down 0.14% to…
You can now pay with Bitcoin on PayPal and Visa -Frank Holmes on crypto's future Bitcoin is now accepted as a form of payment via both PayPal and Visa. Frank Holmes, CEO of U.S. Global Investors said that this was the result of increased adoption. "I think this adoption process is accelerating," Holmes said. "Metcalfe's law says that as adoption accelerates, you get these exponential moves in the underlying crypto." By David Lin For Kitco News The best way…
Gold/Silver/Commodities – The Second Quarter Outlook The first quarter is behind us, and the second is off to a bang with Silver +2.09%, Platinum +1.9%, Gold +0.86%, and Copper +0.45%. What is the best performer, you might ask? Crude Oil +3.52%. The Jobs Report came in at +916,000, and in observance of Good Friday, the markets are effectively closed, leaving us with a free day of mapping out some second-quarter predictions. If you know me personally, I'm a numbers guy, and…
After the worst start to the year in almost four decades and the worst quarterly performance in more than four years, gold is kicking off the second quarter on a much better note. But will it last? "Gold has got off to the worst start to any year in 39 years, plunging by 10%, i.e. $190, in the first quarter. This was also its most negative price performance in any quarter since the fourth quarter of 2016," said Commerzbank analyst…