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Gold price wants clarity after Powell's hawkish stance – analysts As markets come to grips with a more hawkish Federal Reserve and omicron fears, can gold find its safe-haven appeal next week? The focus in December will be the Federal Reserve's monetary policy meeting, according to analysts. After a turbulent week in gold and the U.S. equities, the markets were hit with a mixed employment report from November. Despite the big miss in the headline number, the details were quite…

Powell is just stalling for time, gold and silver look attractive as inflation spiral starts – Degussa Physical gold and silver will continue to be attractive assets as investors look to protect their wealth and purchasing power as one precious metals firm sees signs of an inflation spiral. In his latest market report, Thorsten Polleit, chief economist of Degussa, said not only are consumer prices at multi-decade highs around the world but growing economic data points to elevated inflation pressure…

Gold price at $10k, silver at $500 due to 'a decade of shortage', says Goehring & Rozencwajg his will be a "decade of shortage" defined by high inflation and a failed attempt to raise rates – the perfect combo to trigger a massive rally in gold, said Goehring & Rozencwajg Associates managing partner Leigh Goehring. Next year, inflation could already be pushing 9%, and it could get a lot worse, Goehring told Kitco News in an interview. "We're getting closer…

Gold price recovers, ASX tumbles Australian markets opened lower after Friday's sell off due to new pandemic concerns. The Australian Stock Exchange is down as of 10:30 a.m. Sydney time with the S&P/ASX200 off 57.60 points or 0.79% to 7,221.70. The exchange set a new 20-day low, according to an update on the ASX homepage. Spot gold dropped $10 at open to trade as low as $1,783 a ounces before recovering. Comex February gold futures are up +0.53% to $1,797.5…

Gold price remains well supported above $1,800 an ounce in 2022 – Scotiabank Gold prices continue to languish below $1,800 an ounce as investors interpret the re-nomination of Jerome Powell to remain the head of the Federal Reserve as a hawkish development for monetary policy. However, commodity analysts at Scotiabank said in a report Wednesday that the selloff in gold could be overdone and the precious metal price looks well supported in 2022. The Canadian bank looks for gold prices…

Gold near steady, shows little initial reaction to FOMC minutes Gold and silver prices are trading not far from unchanged in afternoon U.S. trading Wednesday, after huge day for U.S. economic data that produced not much markets reaction. December gold was last up $0.50 at $1,784.30 and December Comex silver was last up $0.04 at $23.475 an ounce. The just-released FOMC minutes from the last meeting of the Fed's monetary policy-setting committee showed FOMC members getting more concerned about rising…

Gold's advantage over bitcoin Before gold went on a run earlier this month, company financings in the precious metal space picked up, said CEO of Oreninc Kai Hoffmann. Hoffmann spoke to Kitco in mid-November at the Deutsche Goldmesse show in Frankfurt, Germany. Oreninc tracks financings for juniors and miners. Early this month, two pieces of news propelled gold higher: headline inflation rose to 6.2%, and the $1 trillion U.S. infrastructure bill was signed into law. Gold had a solid breakout…

Gold hit hard by profit taking as Fed Chair Powell stays Gold and silver futures are sharply down in midday U.S. trading Monday, with gold notching a two-week low. The metals’ prices were under pressure overnight and then selling pressure accelerated when it reported early this morning that President Biden plans to keep Federal Reserve Chairman Jerome Powell for another term. December gold was last down $41.10 at $1,810.40 and December Comex silver was last down $0.421 at $24.36 an…

Gold closes under pressure following a statement by Fed Governor Waller Gold is trading under pressure, which will certainly result in gold closing lower on the week. As of 5 PM EST gold futures basis, the most active December 2021 Comex contract is down $13.80 (0.74%) and fixed at $1847. What sparked today’s selling pressure came out of multiple components, but the majority stems directly from a speech by Federal Reserve Governor Christopher Waller. He spoke to the Center for…

Is Fed making a mistake? Big market risk ahead as gold looks to $1,900 – analysts ccording to analysts, with all eyes on the U.S. President Joe Biden's Federal Reserve Chair pick, gold is waiting for its next catalyst to take it to $1,900 an ounce, with markets eyeing year-end volatility. Gold is wrapping up this trading week down 1%, with December Comex gold futures last trading at $1,848.60, down 0.69% on the day. One of the main events the…