Gold Market News

May 31, 2016

Gold prices remain flat. U.S. stocks struggle for momentum as investors digest economic reports. Gold last traded at $1,214 an ounce. Silver at $15.99 an ounce.

Get into gold now! Prices could hit $1,900: Boockvar- Yahoo! Finance-- 5.25.16
One of Wall Street's most closely followed analysts says that current gold price dip presents a prime buying opportunity. Analyst Peter Boockvar believes gold's 2011 highs of $1,900 are not only reachable, but surpassable.

Why You Should Continue Buying Gold In 2016 - Seeking Alpha--5.24.16
So far this year gold has rallied more than 20% and recently this rallied has halted as the Fed announced a possibility of a rate hike in June. Many are seeing this as a buying opportunity since a rate hike is highly unlikely.

Gold is insurance against the bad guys hitting the reset button - Yahoo! Finance--5.17.16
There is a likelihood that gold will play a role in the next monetary system. Gold should be seen as insurance should the bad guys ever hit that reset button.

One big reason why gold could be heading to $1500 - Yahoo! Finance--5.18.16
Anthem Blanchard, CEO of Anthem Vault, stated that he doesn't expect gold prices to fall much further and in fact, he sees $1,250 as a price floor for gold and expects the metal to push even higher.

Now Is Not A Normal Time: Central Banks Buying Piles Of Gold - Seeking Alpha--5.18.16
Many central banks are buying gold as interest rate remain artificially low, plunging into negative territory in some places. Overall demand for gold has been surging, hitting the second-largest quarterly demand spike on record.

Why some investors have taken a shine to gold - CBS News--5.18.16
The economy's weak performance amid slack global growth has stalled any Fed rate hike plans which fueled a resurgence in the gold market catching many observers by surprise.

George Soros bet big on gold - CNN Money--5.17.16
During the first quarter on 2016 billionaire investor George Soros purchased $264 million worth of shares of Barrick Gold, the world's largest gold miner. Earlier this year Soros claimed the global financial markets reminds him of the 2008 crisis.

Gold has entered a new bull market: JPMorgan - CNBC--5.11.16
JPMorgan Private Bank's Solita Marcelli is recommending clients to position for a new and very long bull market for gold. According to Marcelli, "$1,400 is very much in the cards this year."

Central banks are loading up on gold - Business Insider--5.10.16
So far this year gold is up 19% and demand is coming in from all sorts of places. Buyers are coming back into the market from India and demand in the US is the strongest its been in 30 years.

Gold Climbs on Investment Demand as Goldman Increases Forecasts - Bloomberg--5.10.16
Gold prices climbed as Goldman Sachs Group Inc raised its price forecasts. Goldman increased price forecasts, scaling back its expectations of U.S. Federal Reserve interest rate increases over the next year.

I’m with Stan Druckenmiller — gold has every reason to rise- Market Watch--5.9.16
One analyst agrees with the latest statements made by Stan Druckenmiller about gold having every reason to rise. He thinks gold looks promising because of negative interest rates, quantitative easing and the race to devalue global currencies.

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.

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