goldoutlook
The gold price was on the move this week, approaching US$2,400 per ounce on Friday (July 5). The yellow metal was reacting to soft June US jobs numbers, which have boosted expectations that the US Federal Reserve may cut interest rates when it meets in September. Data shows that non-farm payrolls increased by 206,000 new jobs in June, slightly above than the 190,000 expected by economists polled by Reuters. The Department of Labor also made revisions to April and May jobs data — growth for April was revised down to 108,000 new jobs compared to 165,000 previously, while growth for May was broug...
Investing News Network
After a record-setting first quarter, the gold price started 2024's second quarter with strong momentum, breaking through US$2,400 per ounce in the middle of April and setting new all-time highs. At the beginning of April, gold was at US$2,250, finding support from investors betting on a June interest rate cut from the US Federal Reserve, as well as strong central bank buying. The precious metal found further support in May as geopolitical and sovereign debt concerns weighed on investors in China and the Middle East. On May 20, gold hit US$2,450.05, its highest price ever. Read on for more on ...
Investing News Network
Speaking to the Investing News Network, Keith Weiner, founder and CEO of Monetary Metals, discussed the factors driving gold and silver prices right now and what could be in store for the precious metals in the future. Breaking down macroeconomics, monetary policy and supply/demand, he explained why he sees both moving higher. "I think the fundamentals in terms of the macro are obviously there," he said about the gold market. "Sentiment certainly in the rest of the world is there — not in the US at the moment ... but I see essentially endless demand in the east." In terms of silver, he said wh...
Investing News Network
The gold price rose as high as US$2,366 per ounce on Thursday (June 20), but had fallen back to the US$2,325 level by Friday (June 21) morning, looking set to end the week relatively flat. Its price increase came as US jobless claims fell by 5,000 to reach 238,000 in the week ended June 15; meanwhile, single-family housing starts fell by 5.2 percent in May. The data has boosted interest rate cut expectations for the fall. Central bank buying has provided major support for the gold price in recent months and years, and a new survey from the World Gold Council (WGC) indicates that 29 percent of ...
Investing News Network
Central bank gold purchases have been an important story for the precious metal over the last several years, providing critical support as the gold price has soared to record levels. The World Gold Council (WGC) released its latest survey on central bank gold reserves on Tuesday (June 18), indicating that 29 percent of central banks intend to increase their gold holdings over the next year. The survey was conducted this year between February 19 and April 30, and includes responses from 70 central banks. This year, the main reason for central banks to hold gold is as a long-term store of value ...
Investing News Network
The US election is quickly approaching, and the second face off between current president Joe Biden and former president Donald Trump promises to be a much-discussed race to the finish line on November 5. In 2020, Biden presented himself as a candidate who would bring Republicans and Democrats together, challenging Trump’s divisive and populist rhetoric of making America great again. Trump ultimately lost that election, but recent polling shows that either candidate could still pull ahead in the months leading up to the vote. In the resource sector, market participants are starting to wonder h...
Investing News Network
Rick Rule, proprietor at Rule Investment Media, shared his latest thoughts on gold, silver and uranium dynamics, as well as the opportunity he sees in the "hated" platinum and palladium sectors. Speaking first about gold, he said so far foreign central banks have been its main buyers. In his experience, retail investors only become interested in the metal when they get concerned about maintaining their purchasing power. At this point, that hasn't happened yet, and it may not happen for some time. "I will note that it took five years for this to happen in the 1967, 1972 timeframe. In other word...
Investing News Network
The gold price has yet to fully recover after falling off a cliff on June 7. Last week's steep drop below US$2,300 per ounce was a double-whammy — US jobs data came in stronger than expected, while news hit that China's central bank didn't add to its gold reserves in May. Gold got back above US$2,300 this week, but faced ups and downs, especially on Wednesday (June 12), which brought the release of new US consumer price index (CPI) numbers, as well as the Federal Reserve's latest meeting. Statistics shared by the Department of Labor show that the CPI rose 3.3 percent year-on-year in May, lower...
Investing News Network
The gold price made moves in 2023 on the back of strong central bank buying and a tense geopolitical situation. With those factors still in play, the yellow metal has soared to record highs in 2024. Against that backdrop, independent precious metals consultancy Metals Focus forecasts that gold will average US$2,250 per ounce in 2024, up 16 percent from last year and a new record for the precious metal. Its annual Gold Focus report, released on June 6, explains what factors the firm believes are driving gold at the moment and outlines what investors should watch moving into the second half of t...
Investing News Network
Gold and silver prices fell off a cliff on Friday (June 7) after seeing strength earlier in the week. The yellow metal rose as high as US$2,386.62 per ounce on Thursday (June 6), while its sister metal hit US$31.49 per ounce the same day. But strong US jobs data and gold-related news out of China turned those gains around. May data from the US Bureau of Labor Statistics shows that 272,000 nonfarm payroll jobs were added for the month, much higher than the 180,000 anticipated by experts. The unemployment rate came in at 4 percent for the period. The US Federal Reserve is scheduled to meet next ...
Investing News Network
閲覧を続けるには、ノアドット株式会社が「プライバシーポリシー」に定める「アクセスデータ」を取得することを含む「nor.利用規約」に同意する必要があります。
「これは何?」という方はこちら