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Gold trades slightly lower at the EU open After bouncing off the lows during yesterday's session gold and silver are back in negative territory on Wednesday. The yellow metal trades 0.22% lower at $1734//oz, while silver trades around flat. After inheriting a negative tone from Wall Street bourses in the Asia Pac area turned it around to push higher. The Nikkei 225 (0.51%), ASX (0.82%) and Shanghai Composite (1.95%) all closed in the black. FX markets were a bit flat…

Gold and silver struggle leading into the EU open Gold and silver have moved lower overnight into pretty bearish territory. After a good start to the session yesterday, both precious metals closed lower and leading into the EU open gold trades at $1719/oz. All of the major bourses in the Asia-Pac area are in the red as risk sentiment was poor. The Nikkei 225 closed down 0.86%, the ASX moved 0.40% lower and the Shanghai Composite is 1.21% in the…

Losing streak – Gold price down nearly $200 since start of the year, what's next? Gold is looking at its second month of losses in 2021 as markets wrap up February, and analysts warn of more downside action with the precious metal testing critical support levels. After kicking off the year around $1,912, the precious metal touched a fresh eight-month low of $1,714 on Friday — down nearly $200 since the start of the year. And if gold price fails…

Is gold price gearing up for a Christmas rally? As this tumultuous year winds down, the gold price seems to be positioning itself for a year-end rally as markets bet on more stimulus next week, analysts told Kitco News. Gold price attempted to push through the key psychological resistance level of $1,900 an ounce this week but ended up settling just below that on Friday. February Comex gold futures were last trading at $1,888.70, up 2.5% on the week. Gold…

Gold and silver are now in a perfect storm scenario Sadly, the events that began in March when the Covid-19 epidemic officially became a global pandemic has led to the current state of the economy. Actions by the Federal Reserve and the U.S. Treasury have resulted in a perfect storm of events that have taken gold to its highest price ever in August 2020. The fundamental events that have led to the series of massive rallies in gold and silver…

Gold pushes higher leading into the EU session Gold has moved half a percent higher leading into the EU session and taken out the previous wave high at $1875.28. Silver is also trading well and has moved past $25.50 to trade 1.60% higher overnight. The general risk sentiment overnight in the Asia Pac area is positive with the Nikkei 225 (0.18%), ASX (1.16%) and Shanghai Composite (1.13%) all moving in the right direction. The dollar index has taken another dive…

Gold and  silver lose ground heading into the EU session despite some USD weakness Gold and silver trade marginally lower heading into the EU session on Wednesday despite some weakness in the USD overnight. Risk sentiment was generally positive as the ASX (0.72%) and Nikkei (0.26%) closed higher and the Shanghai Composite was the laggard closing just under flat. Platinum (0.50%), palladium (0.54%) and copper (0.20%) are all trading in the black this morning as it seems that only gold and…

Gold moves higher heading into the EU session Gold (0.83%) and silver (1.60%) are heading higher into the EU session as sentiment in the Asia-Pac area was weak. The Nikkei 225 trades 0.17% lower, ASX is down 0.43% and the Shanghai Composite (-0.06%) traded just under flat. Overnight it was reported that gold imports fell to 7,126KG in October from 17, 135KG in September. Although this is a dramatic fall it would be safe to assume imports are to pick…

Can 2020's last full week take gold price to $1,925? Gold is facing strong resistance right at the $1,850 mark. Can it breach it and move to $1,925 an ounce next week? Analysts are not ruling it out, but everything seems to depend on the U.S. fiscal stimulus, which is still up in the air. Gold is largely unchanged on the week, but the important thing is that the metal is not letting go of its previous long-time support of…

What makes gold a strategic asset? Gold benefits from diverse sources of demand: as an investment, a reserve asset, a luxury good and a technology component. It is highly liquid, no one’s liability, carries no credit risk, and is scarce, historically preserving its value over time. Gold can enhance a portfolio in four key ways: generate long-term returns (Chart 3) act as a diversifier and mitigate losses in times of market stress (Chart 6) provide liquidity with no credit risk (Chart 7) improve…