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Low interest rates will last more than two years – David Rosenberg It is inevitable that the global economy will see a bounce in activity after being devastated by the COVID-19 pandemic, but don’t expect it to reach pre-crisis levels any time soon, according to one economist. In an interview with Kitco News, David Rosenberg, chief economist at strategist at Rosenberg Research and Associates, not only warned investors to expect a slower economic recovery but also that they shouldn’t look…

Analysts ask if gold is ready to push above $1,800 Building on Friday's momentum, gold prices are starting the week on a strong note and are pushing back to within striking distance of critical resistance at $1,800 an ounce. August gold futures last traded at $1,771.70 an ounce, up 1% on the day. According to market analysts, gold is getting a boost Sunday evening as investors start to question the health of the global economic recovery as the COVID-19 pandemic…

Goldman raises 12-month gold forecast by 11% to $2,000 an ounce Silver’s 12-month forecast pegged at $22/oz Gold prices are likely to reach $2,000 an ounce in 12 months on the back of low real interest rates and concerns over currency debasement, even as developed markets emerge from COVID-19 lockdowns, lifting risk-on sentiment, according to a note Friday from Goldman Sachs. The investment bank raised its 12-month forecast on gold to $2,000 an ounce, from $1,800. It also lifted its…

Jerome Powell says that the economy's path ahead likely to be challenging The primary mandate of the Federal Reserve has been to prioritize the goal of maximum employment at the top of the list. Not since the days of the Great Depression has this task been so daunting. Last week an additional 1.5 million Americans filed for unemployment benefits even though there have been signs and sources touting that the economy has been improving. For the week ending on June…

Gold pricing; the last four years and $500 later It is important to have realistic goals in terms of where we believe gold pricing is headed, and more importantly how long it will take to get there. First and foremost, we must acknowledge the tremendously large move that we have seen over the last four trading years. The multiyear correction began in the middle of 2011 and concluded at the beginning of 2016. This correction took gold pricing from its…

Gold price to break record by year-end; bullion premiums normalizing – Peter Hug Gold prices could see 2011 highs of $1,920 an ounce or higher, said Peter Hug, global trading director of Kitco Metals, who noted that a full economic recovery won’t materialize until later next year. While seasonal softness is expected for the yellow metal during the summer months, the medium term trajectory is still constructive, Hug said. “Short-term, especially given the seasonal factors, [gold prices] have a bit…

Thieves make off with C$10 million in silver bars Robbers used fake documents to steal $10 million of silver bars from a Montreal-based transportation company. On January 20 robbers took possession of a container filled with 596 silver ingots using fake documents, according to a report by CTV News. The police are asking for tips that could solve the case. Call the Info-Crime line at 514-393-1133. A reward of up to $2,000 will be given to anyone who can provide…

U.S. equities and the U.S. dollar weigh heavily on gold pricing There were mixed results in the precious metals today, with extreme dollar weakness providing a tailwind. While gold traded lower on the day, the industrial precious metals including platinum, palladium and silver all closed with gains. The industrial precious metals benefited from the reversal in U.S. equities from negative to positive on the day. However, the most noteworthy aspect in the precious metals’ futures market today was the exaggerated…

Market volatility is bullish for gold: Is $1,800 back on the table next week?Anna Golubova Anna Golubova Gold is on a roll as market volatility is working in favor of higher prices amid renewed concerns about the U.S. economic recovery and the second COVID-19 wave. But is it enough to finally break gold out of its trading range? Gold has turned its losses around this week with the precious metal rallying 3.5% since last Friday's close after the Federal Reserve…

The Potential Looming Catalyst for Silver No One Sees Coming There are a number of catalysts that could ignite the silver market over the coming months and years. To Mike and I it seems inevitable that silver will be a direct beneficiary of the monetary madness that defines the world of central banking today. Give us some headline-making inflation, for example, and a roaring bonfire in the silver market will be underway. But there’s another potential catalyst that is so…