goldoutlook
The gold price has pulled back from the record-setting levels seen earlier this year, but Jeff Clark, editor of Paydirt Prospector, believes the yellow metal will continue moving upward in 2024. "The next target or level is US$2,500 (per ounce), and I do think we'll get to that this year because history tells me we will. We've had a 38 percent rise in the gold price in this upcycle ... but the average upcycle is much higher, and if this upcycle were to end now it would be the lowest in history," he told the Investing News Network in an interview. "I'm forced to believe because of history that ...
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Rob McEwen of McEwen Mining (TSX:MUX,NYSE:MUX) and Michael Meding of McEwen Copper sat down to speak about the outlook for gold and copper, as well as news from their respective companies. Looking first at gold, McEwen said it has space to move higher in 2024, and pointed to eye-watering predictions from a number of market participants. Citi is calling for US$3,000 per ounce before the end of 2024, while Bloomberg Intelligence expects US$7,000 by 2025. Meanwhile, Pierre Lassonde has given a US$19,000 to US$20,000 target. "The whole sector has been underinvested for quite awhile, and I think it...
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Lynette Zang, founder and CEO Zang Enterprises, shared her thoughts on gold and silver prices in 2024, explaining how more and more people globally are turning to precious metals to safeguard their wealth. "That gives me tremendous hope, because that's who we need to wake up to what's happening. They're starting to buy gold, and that thrills me," she told the Investing News Network during an interview. "If we can get even 3 percent of the public to have a quiet revolution and convert their fiat money into sound money — physical gold and physical silver — it's all you have to do for a quiet rev...
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Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and he shared his latest research in a conversation with the Investing News Network. He presented his expanded Lassonde Curve and discussed four gold stocks he believes have the potential to bring investors strong returns. Those are K92 Mining (TSX:KNT,OTCQX:KNTNF), Aris Mining (TSX:ARIS,NYSEAMERICAN:ARMN), Minera Alamos (TSXV:MAI,OTCQX:MAIFF) and Rio2 (TSXV:RIO,OTCQX:RIOFF). Hansen also explained why he thinks now is the right time to establish or build on precious metals positions. "What I'm...
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Gold and silver prices both made moves this week, with gold passing US$2,400 per ounce once again and silver finally breaking through the important US$30 per ounce mark. It's the first time the white metal has been there since 2013, and the milestone has sparked speculation about just how high it could go in this cycle. Momentum kicked in on Wednesday (May 15) after the release of the latest US consumer price index (CPI) data. It shows inflation rose 3.4 percent year-on-year in April, the first time it's cooled in 2024. On a monthly basis it was up 0.3 percent. The US Federal Reserve's target ...
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The gold price has hit record levels in 2024, leaving investors wondering just how high it can go. During a recent webinar presented by the Mining Network, host Simon Catt, asset management director at Arlington Group, was joined by a group of industry veterans who gave their thoughts on where gold and silver may be going. The group was comprised of Eric Sprott, founder of Sprott Securities and Sprott Asset Management; Franco-Nevada (TSX:FNV,NYSE:FNV) founder and Chair Emeritus Pierre Lassonde; Ned Naylor-Leyland, gold and silver fund manager at Jupiter Asset Management; Luke Gromen, founder o...
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Nick Hodge, publisher at Digest Publishing, shared his latest thoughts on gold, silver, copper and uranium. Speaking first about the yellow metal, he said he sees it maintaining its bullish edge. "Gold is starting to check technical milestones. It's checking technical boxes that tell broader, more generalist investors that gold is emerging from a bear market, and it starts to beget or attract capital simply because it's going up," Hodge explained. While silver is currently lagging behind gold, it's starting to move based on a shift in perspective. "What's happened is that silver is being treat...
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Gold and silver prices were on the move this week, with the former rising above US$2,370 per ounce on Friday (May 10), and the latter hitting US$28.67 per ounce that same day. Both pulled back slightly to finish. Market participants continue to digest the US Federal Reserve's decision to leave interest rates unchanged, and a recent Gallup poll shows that persistent inflation is affecting the public's faith in Chair Jerome Powell. While 39 percent of US adults have a “great deal” or a “fair amount” of confidence that he will do the right thing for the economy, that's up only 3 percent from a ye...
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In a conversation with the Investing News Network, Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, broke down the organization's latest gold demand trends report. Aside from key demand drivers like central bank buying, he highlighted differing sentiment in the west and east. "This is an interesting time. Right now the price has been impacted less so by the expectation of US rates and the US dollar, and more so by the geopolitical and overall outlook for investment in the Asian markets, the eastern markets. And that's actually done a real shift in the overall sentim...
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Gold's record move above US$2,400 per ounce has sparked much discussion about price drivers. Speaking to the Investing News Network, Ross Norman of MetalsDaily.com explained China's key role in the metal's increase. To start, he noted that the buying that took gold to the US$2,050 or US$2,100 level was largely high-quality purchases from central banks, which have been adding the yellow metal to their coffers at a strong pace. "Central bank buying is quality because it's unlikely to be sold if there's a significant price correction. It's for the very long term — think multi-generational," Norma...
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