Is gold price about to sprint? Inflation in the U.S. is now at 7.5% — the highest level in forty years. For the U.S. stocks, this means more losses as markets price in a more aggressive Federal Reserve. But for gold, this means more demand as investors turn to the precious metal for protection. Also, a warning from the U.S. that Russia could launch military action in Ukraine "any day" is pushing gold prices well above the $1,850 an ounce…
Gold price looks to take $1,850 as markets fear emergency Fed move Gold is catching a bid as markets worry the Federal Reserve could opt for an emergency rate hike before the March meeting to try and tame inflation. Gold is up nearly 2% on the week as more investors turn to the precious metal amid a widespread risk-off sentiment in the marketplace. At the time of writing, April Comex gold futures were trading at $1,841.30, up 0.21% on the…
Gold, silver sales are still being taxed, is that about to change soon? Jp Cortez Unlike traditional investments like stocks and bonds, retail investors who buy and sell precious metals must pay sales taxes, but that could soon change. So far, 42 states have removed some or all of the taxes from gold and silver transactions. “The last several years have been really promising in eliminating sales taxes in many states,” Jp Cortez, Policy Director, Sound Money Defense League explained.…
Gold price surges as new Covid strain surfaces Gold prices are solidly higher in early U.S. trading Friday, on safe-haven demand and short covering by the futures traders, amid a potentially ominous development on the pandemic front. December gold was last up $20.50 at $1,804.30 and December Comex silver was last down $0.02 at $23.47 an ounce. There is keen risk aversion in the marketplace Friday, on what typically is a very quiet post-U.S.-Thanksgiving-holiday trading day that sees many U.S.…
Gold price is consolidating, when is a breakout happening? – Gary Wagner gives price targets This upcoming Thanksgiving will be the most expensive ever, and inflation will continue to be a serious concern for investors, said Gary Wagner, editor of TheGoldForecast.com who advocates that gold is still the ultimate store of wealth. On a technical basis, gold is still in its consolidating phase, Wagner told David Lin, anchor for Kitco News. "A break above $1,880 [gold price] would really signal…
Gold prices to remain below $1,900 through 2022 – Haywood Securities The gold market remains in a long-term uptrend. Still, it needs to get through its current consolidation period, according to one investment firm. In a report published Tuesday, analysts at Haywood Securities said they are lowering their price targets for this year through 2022 but expect to see higher prices past 2023. Looking at the updated forecast, Haywood analysts see gold prices averaging the year around $1,800 an ounce,…
Expect $30 silver price, then $50 soon after, by 2022 – Steve Penny Once silver breaches $30, there would be minimal resistance keeping it back from hitting $50, said Steve Penny, publisher of The Silver Chartist report. Penney told David Lin, anchor for Kitco News, that $50 or even $30 an ounce for silver is unlikely to happen by the end of the year. "I think we're very close to a bottom here. There still is some downside risk to…
Bears in control: Gold is in 'no man's land' It was not a good week for gold. Prices hit four-week lows, and markets are now anticipating a far less dovish Federal Reserve at next week's monetary policy meeting. Here's a look at Kitco's top three stories of the week: 3. Gold price is in 'no man's land' after $40 drop as outlook on U.S. economy shifts 2. Investors are better off holding cash and gold this 'cruel' September, says CNBC's…
Price pressure on gold, silver, as charts turn more Bearish Gold and silver prices are solidly lower in early U.S. trading Thursday. Gold prices hit a four-week low and silver a three-week low. The near-term chart postures for both metals have deteriorated this week, which is inviting the shorter-term futures traders to play the short side of the markets. October gold futures were last down $21.70 at $1,770.90. December Comex silver was last down $0.446 at $23.355 an ounce. Global…
Is it time to buy gold? WGC says September has high confidence level The World Gold Council (WGC) rarely comments on when it is best to buy or sell gold, but its recent report highlighted September as one of the most opportune times to purchase the precious metal. “September has been one of the strongest months historically for the price of gold, and this could present an opportunity for investors as we head into the fourth quarter of the year,”…