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Gold price sees double-digit jump as IMF cuts global growth outlook, cites 'dangerous divergence in economic prospects' The International Monetary Fund trimmed its global growth forecast, citing rising risks from supply chain bottlenecks, price pressures, and threats from the delta variant. In its World Economic Outlook, the IMF said its 2021 global growth forecast is […]
Bullish sentiment in gold improves but prices are still stuck around $1,750 Sentiment continues to improve in the gold market even as the price spins in neutral, unable to get any sustainable traction following another month of disappointing labor market data. The latest Kitco News Weekly Gold Survey shows that both Wall Street analysts and […]
Is $2k or $5k gold price still possible? Even a big miss in the U.S. September job numbers couldn't trigger a much-needed rally in gold. And unless the precious metal can find a way to close above $1,780 an ounce, analysts say they will remain neutral on the metal. Here's a look at Kitco's top […]
'Bad news is good news for gold,' but why is the price stuck? With gold unable to deliver a rally despite a disappointing U.S. September employment report, analysts weigh in on gold's sticky price levels. The U.S. September jobs report surprised on the downside with just 194,000 positions added versus the expected 500,000. This is […]
Ground Control to Chaiman Powell A soft countdown of the initiation of tapering the Federal Reserve’s $120 billion monthly expenditure has begun. The Federal Reserve began dramatically infusing liquidity and money into the capital markets beginning in 2020. The initial effect was to temper or slowed down the rate at which the recession was expanding […]
Gold has fractional gains even with moderate dollar strength both gold and silver gained fractional ground with gold as of 6:10 PM Eastern Standard Time fixed at $1763.90, after factoring in today’s gain of $1.90, or 0.11%. Silver gained $0.12 in trading today and basis the December futures contract is currently fixed at $22.65 which […]
Gold price headed to $5,500 in the long term as central banks won't be able to exit unorthodox monetary policies The Federal Reserve's potential plan to reduce its monthly bond purchase by the end of the year continues to weigh on the gold market as prices remain tethered to support around $1,750 an ounce. However, […]
Gold price to 'revisit its peak' soon, says Bloomberg Intelligence After reaching new all-time highs over a year ago, gold is bound to climb back to its peak soon, said Bloomberg Intelligence in its October price outlook. "It's only been about a year since gold's last peak, and we believe it should be a relatively […]
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 […]
Have you given up on gold? Surprising comeback after volatile week It has been a very volatile week for gold. After dropping $30, the precious metal surged back to its very familiar territory of $1,750-$1,760 an ounce. Soaring U.S. Treasury yields and a higher U.S. dollar were the main obstacles for gold. And despite avoiding […]