Gold Market News

May 5, 2016

Gold prices higher on bargain hunting. Stocks higher as traders await key jobs report. Gold last traded at $1,272 an ounce. Silver at $17.32 an ounce.

Here's why China is loading up on gold - Business Insider--5.5.16
No one outside of China's Communist Party really knows the size of China's gold reserves. However, experts believe the country's reserves are significantly higher than what China has reported. Many now believe the Chinese are stockpiling gold in order to dethrone the U.S. dollar.

Druckenmiller Loads Up on Gold, Saying Bull Market Exhausted - Bloomberg--5.4.16
Billionaire investor Stan Druckenmiller says that bull market in stocks has "exhausted itself" and that gold is his largest currency allocation. Druckenmiller is wagering on gold on "the absurd notion of negative interest rates."

Jim Rickards says for gold prices will go higher as dollar weaken - CNBC--5.3.16
Gold prices hit a 15-month high and looks set for more gains as the dollar weakens, according to author and gold markets expert Jim Rickards. Gold prices reached over $1,300 on Monday, its highest price since January 2015.

Why Gold Is Headed Towards $1,400? - Seeking Alpha--4.27.16
The Fed is unlikely to hike rates this year as the job market may be losing steam. No rate hike is a bullish signal for gold and the current year-end price target for one expert is $1,400 per ounce.

Gold Rises on Weak U.S. Economic Data - The Wall Street Journal--4.26.16
Gold prices continue higher as weak U.S. economic data bolstered the view tha the Fed will continue to be patient in raising interest rates. So far this year gold is up 17% and continues to be in demand as a haven amid uncertainty about global economic growth.

Gold, already on its way up, may head even higher: Technician - CNBC--4.24.16
One expert is forecasting gold to jump about $200 more an ounce by the end of the year. He believes gold is poised for a breakout and is expected gold to hit $1,450 an ounce.

Gold surges amid weaker dollar, ahead of start of FOMC meeting -
Gold prices rallied sharply on a weaker dollar and ahead of the start of FOMC meeting. So far this year gold is up 17% and is on pace for one of its strongest opening halves in more than a decade.

Silver's Bull Market Has So Much More to Give, 5 Charts Show - Bloomberg--4.20.16
Silver is poised for more gains according to market data. According to one expert, "silver has the best-looking chart among all the commodities." The metal is up 12 percent in the last two weeks.

Why One Analyst Believes Gold Could Hit $3,000 -
Gold has become the best performing assets of 2016 rising more than 17.2 percent year-to-date. According to the World Gold Council, we are likely entering a new gold bull market.

Austrian Mint Gold Sales Set Record in 2015 - Townhall--4.18.16
The Austrian Mint has sold 1.3 million ounces of gold in 2015, up 215% from 2014. These sales were a reaction to the negative interest rates instituted across the European Union. Gold was also the best performing asset in the first quarter of 2016.

'Gold will soar 700% in near future': Economist claims precious metal set for $10k an ounce as cyber-criminals hack into digital wealth - This Is Money--4.13.16
One economist is claiming gold will soar in value in the coming years citing cyber warfare as the number one reason people will pile into the commodity. One experts says hacking, cyber warfare and terrorism are the biggest threats to digital wealth.

HSBC: Buy gold! - Business Insider--4.12.16
HSBC technical analysts are bullish on gold. HSBC's head of technical analysis Murray Gunn stated that gold is in an uptrend "with a bullish Elliott Wave structure."

Gold Prices Unlikely To Slow Down, $1,350/oz In 2017: Credit Suisse - ValueWalk--4.11.16
According to Credit Suisse, gold is going to follow an upward trajectory throughout this year. Experts are predicting $1,350/ounce in the first quarter of 2017 and it is expected to keep rising against fears of a recession.

Outlook for Gold Keeps Getting Better- Profit Confidential--4.9.16
Gold has seen a 15.6% gain so far this year, making it the biggest quarterly gain in three decades. Recently, there have been more than enough global economic uncertainty to suggest gold's run isn't over yet.

Gold soars, taking a positive cue from Fed minutes, dollar dive- Market Watch--4.7.16
Gold prices finished sharply higher on fresh signals that the Fed is taking a cautious approach to future interest-rate hikes. Silver prices also rose as the U.S. dollar fell after the release of Fed minutes.

Gold Rises as Investors Seek Safer Assets - The Wall Street Journal--4.5.16
Gold prices are sharply higher as economic and geopolitical concerns encouraged investors to turn towards safer assets. So far this year the metal has rose 16%, largely supported by financial volatility in China and political unrest around the world.

Gold headed for best quarter in nearly 30 years- Market Watch--3.31.16
Gold is on track to have its best quarterly performance since 1986. Gold has been benefiting as the Fed's dovish stance on policy has softened the U.S. dollar.

Gold demand from central banks marches higher in turbulent 2015 - Financial Times--3.31.16
Heightened geopolitical tension has pushed a need for more diversification in reserve assets. This led to central banks' net purchases of gold reaching the second highest annual total since the end of the gold standard.

Russia becomes world’s top gold buyer - RT--3.29.16
The Central Bank of Russia bought 356,000 ounces of gold in February making it the largest buyer of the metal among the world's central banks. Last week, Russian foreign reserves increased by another $5.8 billion to $386.9 billion.

Gold Prices Surge on Fed Caution - Fox Business--3.17.16
Gold prices surged on Thursday, jumping 2.9%, after the Fed's decision to reign in interest-rate expectations. Gold was also helped by a weaker U.S. dollar, which fell to its lowest level since October.

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