goldoutlook
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 ...
Investing News Network
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...
Investing News Network
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...
Investing News Network
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...
Investing News Network
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...
Investing News Network
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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David Erfle, editor and founder of Junior Miner Junky, shared his thoughts on gold, explaining what factors have pushed it to new levels, why it's now consolidating and how high it could go in 2024. In his view, the yellow metal started to break out for macroeconomic reasons, and picked up momentum when tensions in the Middle East heated up. With the situation now looking calmer, gold has pulled back. Erfle said gold could correct all the way back down to US$2,200, but emphasized that he remains bullish. "It could correct down to US$2,200 and still be in an uptrend," he explained. "Gold's got ...
Investing News Network
The World Gold Council (WGC) has released its latest gold demand trends report, highlighting a record quarterly average price of US$2,050 per ounce for the yellow metal on the back of strong demand. This represents a substantial 10 percent increase year-on-year and a 5 percent rise quarter-on-quarter, culminating in the precious metal reaching new heights and closing the three month period at US$2,214. “The upside potential has been really exciting to watch, but definitely something that is giving us a signal that there might be more than just strategic investment at play. Likely some speculat...
Investing News Network
Speaking to the Investing News Network, Craig Hemke, publisher of TFMetalsReport.com, shared his thoughts on what's behind gold's big price rise and current pullback, plus what could be next for the yellow metal. In his view, gold's move back below the US$2,400 per ounce level is completely normal — Hemke noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy. With that said, he does see strong upside potential for the precious metal in 2024. In his view, there are a lot of technical targets that line up with US$2,650 or US$2,700, ...
Investing News Network
The gold price corrected this week, even falling briefly below US$2,300 per ounce. While that's down from levels of over US$2,400 earlier this month, most experts aren't concerned about the yellow metal's price activity. I asked Craig Hemke of TFMetalsReport.com about the recent pullback, and he said that it's completely normal — he noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy. With that said, Hemke does see strong upside potential for the precious metal in 2024. He said there are a lot of technical targets that line up w...
Investing News Network
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