Gold Market News

Gold Market News

Gold prices jump on mixed batch of U.S. economic data. Stocks mixed after Fed Chair Jerome Powell reassures on inflation. Gold last traded at $1,792 an ounce. Silver at $26.24 an ounce.

June 23, 2021

Growing Demand for Silver in Industrial Sector Creates New Opportunities for Investors- Yahoo! Finance/Benzinga--6.21.21
Silver prices are lagging behind other metals, but it is still enjoying a remarkable uptick since April 2020. This trend is likely to continue even as the market stabilizes due to an increased demand for silver from the renewable energy industry.

Gold’s Next Five to Ten Years Look Bright- ETF Trends--6.21.21
"The long-term physical accumulation phase is just getting started for gold" says Sprott Asset Management CEO Peter Grosskopf. There may be an extended period where gold will see advantages over other assets, pointing to a positive five to ten years.

Gold finds some support as ECB is not ready to raise interest rates- Kitco--6.21.21
The gold market saw some support from the ECB as its president reiterated the central bank's stance that it is not ready to look at tightening its monetary policy anytime soon.

'Best time to buy gold is before crisis': watch inflation risk and $3K gold price target, says industry expert- Kitco--6.16.21
Inflation is a significant rick facing investors which is why now may be the best time to turn to safe-haven assets such as gold. According to one expert, "the best time to buy gold is before a crisis."

Gold Getting Ready to Rumble- Zero Hedge--6.11.21
One expert is expecting gold, and especially silver, to reach stratospheric price levels in years to come. Hyperstagflation, followed by the collapse of the Everything Bubble, makes precious metals the only option for such an outcome.

Gold price at 'steep discount' vs. crude oil: $2,000 gold will be breached – Bloomberg Intelligence- Kitco--6.10.21
According to Bloomberg Intelligence, gold is re-starting its bull rally and currently trading at a "steep discount" to crude oil. $2,000 gold will be breached due to the U.S. employment situation, says Bloomberg Intelligence.

Gold rebounds as dollar drop blunts Yellen inflation comments- BNN Bloomberg--6.7.21
Gold is heading for more gains after recovering from earlier losses that came as a result of U.S. Treasury Secretary Janet Yellen's comments on interest rates. According to one expert, this "environment is conductive to further price rises."

Gold SWOT: Russia to increase gold reserves on shift from U.S. dollar- Kitco--6.7.21
Recently Russia announced it will eliminate the dollar from its oil fund to reduce its vulnerability to Western sanctions. Russia plans on replacing the dollar with euros, yuan and gold.

Gold Steadies Near Four-Month High as Central Banks in Focus- Yahoo! Finance--5.27.21
Gold prices settled near the highest in more than four months as investors reacted to more hawkish tones from central bank officials.

Ultimate gold price target is $5,000-$10,000, says Guggenheim's Scott Minerd - Kitco--5.26.21
Gold will start to build momentum as investors ditch crypto because of its chaotic price swings. According to Guggenheim's CIO Scott Minerd, gold's ultimate price target is $5,000-$10,000.

‘Gold setting new highs this year would not be a surprise,’ expert tells RT’s Boom Bust - RT--5.26.21
Gold prices have rose above the key psychological level of $1,900 an ounce. According to one expert, "The sentiment is just right … Setting new highs this year would not be a surprise..."

Central banks turning to gold again, Bank of Thailand buys 43.5 tonnes in April- Kitco--5.26.21
Central banks are once again taking an interest in gold, which could be essential support for prices. According to recent data, the Bank of Thailand bought 43.5 tonnes in April while other central banks have added to their reserves.

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