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Get ready for $2,500 gold price this summer – B. Riley FBR Massive gold price revisions are hitting the market this week as analysts estimate the impact of the COVID-19 crisis, with one investment bank upping its Q3 and Q4 gold price forecasts to an impressive $2,500 an ounce. Citing unprecedented fiscal and monetary policy stimulus, B. Riley FBR analysts said on Tuesday that they expect gold to surge to $2,500 an ounce in Q3 and continue to trade at…

Gold, silver prices soar; inflation on horizon? Gold and silver prices are trading sharply up in midday U.S. futures trading Monday. Prices shot from modestly higher levels overnight to sharp gains following an early-morning announcement from the Federal Reserve that the U.S. central bank is very aggressively buying more securities, including mortgage-backed, and also will open up a “main street” lending facility. The Fed used the term “unlimited” on amounts it will spend. U.S. stock indexes initially shot higher on…

Gold price dips below $1,490 ounce, Asian markets trounced Worry is still gripping world markets in the face of the COVID-19 scare. Markets are looking for cash and precious metals are getting dumped. On Sunday evening gold dipped below $1,490 ounce, a four-month low. Silver dropped below $12.30 ounce before recovering. Platinum bucked the trend and traded up, reaching a high of $625 ounce. Palladium was up, too, breaking through $1,580 ounce. Pacific-Asian stocks are down. Hang Seng opened 5%…

Gold settles higher, but logs a second weekly decline Gold futures rose Friday, finding support after indiscriminate selling across financial markets weighed even on some traditional havens, sending prices for the precious metal lower for the week. For now, gold has gotten a boost from Senate Majority Leader Mitch McConnell’s proposal to get “needed relief cash in hands of middle and low income households, and other stimulus measures moving forward,” said Jeff Wright, executive vice president of GoldMining Inc. “This…

Dollar strength continues to plague precious metals Gold continues to fall in the presence of extreme dollar strength which is dictating most of the net change within the precious metals complex. As of 6:15 PM EST the dollar is currently up almost 2%, with the index currently fixed at 103.56. The last time we saw the U.S. dollar have this kind of strength was in January 2017 when it hit a high precisely where the dollar index is trading currently…

The only silver lining is the gold-silver ratio When we look at the precious metals complex the only thing we see moving higher is not a specific precious metal, rather it is a ratio between two precious metals. This ratio is the only investment that is competing with recent dollar strength which hit a new high today of 101.26, after factoring in today’s gain of approximately 1 ½%. The only silver lining to this cloud of coronavirus confusion and fear…

Silver price beaten down but investors can‘t find any, so what’s going on? Peter Hug Responds Silver’s future is bleak as a recession could wipe out any industrial demand left for the metal, this according to Peter Hug, global trading director of Kitco Metals. Monetary policy was not enough to calm investors, Hug noted, as markets reacted negatively to the last Federal Reserve rate cut made last Sunday. “That episode really scared the market. It indicated that the Fed pushing…

Silver prices plummet as mints can’t keep up with demand With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! Precious metals have plunged in the markets, but there is still demand for physical coins in the midst of the coronavirus outbreak, this according to Phil Streible, chief market strategist of Blue Line Futures. “I can tell you one thing,…

Gold futures log largest weekly loss in more than 8 years Gold futures ended sharply lower for a fourth straight session on Friday, with a loss of more than 9% for the week—the largest since September 2011. Volatility-shocked investors looked for news on fiscal stimulus packages from governments around the world to help ease the economic pain of the COVID-19 epidemic that has ground some of the world’s business activity to a halt and rocked financial markets. “It seems that…

'Confused' Wall Street split on near-term gold-price direction Some might argue that gold prices have been unpredictable lately, thus maybe it seems fitting that Wall Street analysts are split on price direction for next week, based on the weekly Kitco Gold price survey. Main Street, however, remains bullish. Since coronavirus became a household word in 2020 as the illness spread around the world, equities have been mostly on the defensive on worries about the impact on the global economy. At…