goldoutlook
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 notable 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 in play, likely some ...
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
James Henry Anderson, senior market analyst at precious metals dealer SD Bullion, shared his thoughts on gold and silver, including what factors are moving the metals right now and where they could go in 2024. In his view, the precious metals sector is undergoing a tectonic shift with far-reaching impacts. "Ultimately I think US$2,400 (per ounce gold) is going to be looked back in time as being cheap," he said. Watch the interview above for more of Anderson's thoughts on gold and silver. Don’t forget to follow us @INN_Resource for real-time updates! Securities Disclosure: I, Charlotte McLeod, ...
Investing News Network
Gold has pulled back from its recent all-time high of more than US$2,400 per ounce, but remains elevated. How high could the yellow metal rise in the longer term? Speaking to the Investing News Network, Jordan Roy-Byrne, CMT, MFTA, editor and publisher of the Daily Gold, shared his thoughts on where it may be headed in 2024 and beyond. "We are in the real sweet spot for what is the biggest breakout for gold in the last 50 years," he said during the interview. "This is the time where a lot of the hyperbolic statements that people like me make, and have been making for the last three or four yea...
Investing News Network
The gold price ended last week with a bang, breaking through US$2,400 per ounce for the first time ever. Although it retreated below that level this week, the yellow metal remains historically high. I've asked a number of experts about what's behind gold's big move, and while their opinions differ on the specifics, they all agree that it still has plenty of room to run. Jordan Roy-Byrne, CMT, MFTA, of the Daily Gold may have put it best — he said that we're reaching the point where hyperbolic statements about the gold price can actually come true. Of course, gold stocks continue to underperfor...
Investing News Network
In a conversation with the Investing News Network, Ryan McIntyre, managing partner at Sprott (TSX:SII,NYSE:SII), shared his thoughts on gold as the yellow metal trades near all-time highs. He noted that gold hasn't looked back after starting to rally at the beginning of March, and said there's a missing piece of demand that could send the price higher: investment in gold exchange-traded funds (ETFs). "Probably one of the most unusual parts of this gold rally over the past month and a half is that you've actually continued to see a decline in gold holdings by global ETFs," McIntyre said. "I thi...
Investing News Network
Speaking to the Investing News Network, Gareth Soloway, chief market strategist at VerifiedInvesting.com, shared his latest thoughts on gold, silver and Bitcoin, all of which have seen exciting recent price action. In terms of gold, he believes US$2,500 per ounce is a "lock" in 2024, with US$3,000 possible within 12 to 18 months. However, he cautioned investors that the yellow metal is likely to pull back before reaching those heights. "While I still think gold has more upside, you have to respect a trend line that goes back 40 plus years (showing) that we probably are due for some sort of pul...
Investing News Network
It was another record-breaking week for gold, which surged past US$2,400 per ounce for the first time ever. Some market watchers are pointing to safe-haven demand as the reason for the surge as tensions rise in the Middle East — concerns that Iran will launch an attack on Israel have been described as "credible" and "viable." Other experts think there are less obvious factors at play — activity in the options market and Comex net managed money are a couple that have been mentioned. But many are suggesting that we just don't know what's happening yet. It's worth noting that gold's price surge c...
Investing News Network
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