silveroutlook
It was a week of ups and downs for gold, which traded between about US$2,325 and US$2,361 per ounce. Investors were looking toward the latest personal consumption expenditures (PCE) price index data, which was released by the US Bureau of Economic Analysis on Friday (May 31) morning. It shows that PCE was up 0.3 percent month-on-month in April, and 2.7 percent from the previous year. Core PCE, which excludes the more volatile food and energy categories, was up 0.2 percent from March and 2.8 percent compared to last April. PCE is the US Federal Reserve's preferred measure of inflation, and it's...
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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...
Investing News Network
Will First Majestic Silver CEO’s silver price prediction of more than US$100 per ounce come true? The silver price made waves in 2020 when it rose above US$20 per ounce for the first time in four years, and the precious metal has repeatedly tested US$30 per ounce since. Most recently, the silver price broke through the US$30 mark on May 17 and went on reach a nearly 12-year high of US$31.80 in the next trading session. On May 19, the silver price hit US$32.33 per ounce, which remains its highest point as of May 21. Well-known figure Keith Neumeyer, CEO of First Majestic Silver (TSX:FR,NYSE:AG)...
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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 ...
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, ...
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2023 was a relatively lackluster year, silver largely traded on volatility between US$22 and US$25 per ounce. The white metal started 2024 with less volatility and remained rangebound for the first eight weeks. Silver dropped to US$22.08 per ounce on January 21, marking its quarterly low. Silver started seeing gains in March with the expectation that the US Federal Reserve was getting closer to lowering interest rates. Improving sentiment gave the precious metals markets momentum, causing silver to reach its quarterly high of US$25.62 on March 20, before continuing on to an 11 year high of US$...
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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 discussed the relationship between the gold price and US money supply from 1970 to the present, showing how they diverged in previous bull markets and explaining what this historic precedent can tell investors. "The interesting thing is that most of gains in these bull markets is in the last two or three years. And I think we are at the beginning of that period, which is why I think there's so much potentia...
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