goldoutlook
Andy Schectman, president of Miles Franklin, shared his thoughts on de-dollarization, going into detail about Project mBridge, a cross-border payment system developed in part by the Bank of International Settlements. He explained that Project mBridge is not compatible with the US dollar and has no interaction with SWIFT, the main system used for international payments and transactions. Various Russian banks were banned from SWIFT after the country's invasion of Ukraine in 2022, prompting concerns about the weaponization of the US dollar. Schectman also spoke about how Project mBridge relates t...
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Speaking to the Investing News Network at the Rule Symposium, Jeff Clark, editor of Paydirt Prospector, shared his updated thoughts on the gold price and the junior mining sector. "I am bound and determined to make money in this environment," he said. "I've been through cycles before in this industry — I've lost money and I've made money, and this time around I'm going to maximize whatever I can do to make as much as I possibly can and participate in a wealth cycle, if you want to call it that." He believes that the release of major gold miners' second quarter results could bring generalist in...
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Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, reviewed gold's H1 performance and outlined what factors could drive the yellow metal in the second half of the year. In his opinion, the sector's east/west divide remains, and will be key to watch as 2024 continues. "I think that what we're looking at in the second half of the year is whether or not the eastern investor, who doesn't really pay much attention to where US rates are, or real rates are in western markets — they're looking at their homegrown investment requirements — will they stay active and actually con...
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The much-discussed US election is quickly approaching, and, in the wake of current President Joe Biden’s decision to drop out of the race on July 21, it seems likely that we will see a face off between current Vice President Kamala Harris and former President Donald Trump on November 5. In 2020, Biden and Harris presented themselves as a team who would bring Republicans and Democrats together, challenging Trump’s divisive and populist rhetoric of making America great again. Although Trump ultimately lost that election, his popularity remained steadfast among his base. In the current presidenti...
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The gold price remains historically high, but for Rich Checkan, president and CEO of Asset Strategies International, the yellow metal is still "dirt cheap." He urged those who haven't made allocations to gold and silver yet to consider buying now. "We're heading into the doldrums, we're kind of consolidating here. China's off the market ... so the prices are low here — at all time-highs, the prices are low. And because western investors aren't buying coins and bars, the premiums are low," Checkan explained. "You've got the perfect storm here of low prices, low premiums — take advantage of it."...
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Dana Samuelson of American Gold Exchange discussed his outlook for gold and silver prices in both the short and long term, and mentioned which physical products he recommends investors look into. "I wouldn't be surprised to see silver make a US$5 or US$10 move from here very quickly, especially if gold can break a little above its all-time high," he explained on the sidelines of the the Rule Symposium. He was speaking a week before gold did exactly that. Samuelson added, "If gold makes a run at a new high and gets into the US$2,500 (per ounce) range, I think silver could be US$45, US$50 (per o...
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Speaking to the Investing News Network, Brien Lundin, editor of Gold Newsletter, explained what factors kicked off gold's price run earlier in 2024, and what could drive it even higher as the year continues. He also shared his thoughts on why gold stocks haven't yet moved as much as investors might have hoped. "When you would have expected (gold) to maybe drop a couple hundred dollars if the (US Federal Reserve) pivot was being postponed — instead we're about US$300 higher," he said on the sidelines of the Rule Symposium. "So we're going to hopefully take off with that big new factor from a mu...
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Lobo Tiggre, CEO of IndependentSpeculator.com, shared his updated thoughts on gold, silver and uranium. When it comes to gold, he pointed to a "powerful mover" that he thinks could be in play — a change in global portfolio allocations to the yellow metal. Historically the allocation has been 2 percent, but more recently it's been 0.5 percent. "I think that what we're seeing is that changing. And maybe it doesn't go back to 2 percent, but if it just goes back to 1 percent, that doubles the investment demand for gold from where we are now," he said. Looking at silver, he said lately it's correla...
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Speaking to the Investing News Network, Adrian Day, president of Adrian Day Asset Management, explained what factors are behind gold's price rise and why gold stocks haven't performed as well as might be expected. He also shared his thoughts on when gold equities will finally move higher. "I think when companies start to report their second quarter earnings later this month, we're going to start to see some very attractive cashflow numbers — better than the first quarter, and better than the year-ago comparisons," Day said. "I've got to think that investors, when they see two back-to-back quar...
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The gold spot price hit a new all-time high on Tuesday (July 16), rising as high as US$2,469.30 per ounce. The yellow metal has been on a record-setting run this year, buoyed by strong demand from central banks, as well as a high level of buying from retail investors in Asia. It is now up about 20 percent year-to-date. This week's rise came on the back of a variety of factors, including safe-haven demand after the assassination attempt on former US President Donald Trump over the weekend. Comments made on Monday (July 15) by US Federal Reserve Chair Jerome Powell also helped push gold higher —...
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