Gold Market News

Gold Market News

Gold prices see slight pullback on normal profit taking. Stocks sink as tech stocks extend losses and big banks kick off earnings season. Gold last traded at $1,813 an ounce. Silver at $19.55 an ounce.

July 14, 2020

How High Can Gold Go In 2020?- Zero Hedge--7.13.20
Gold prices have risen in every single currency in the past year and gold prices are up well over 30 percent from last summer. One expert is predicting gold prices could rise as high at $2000 an ounce by the end of the year.

Gold is dangerously under-owned by Americans, especially now- FX Street--7.10.20
The vast majority of investors have no exposure to precious metals at all. Central banks continue to pump money in the economy which bodes well for gold and silver prices this year.

Gold at $2,000 Is Now Even More Likely, Goldman Says. Here’s How to Trade the Commodities Recovery. - Barron's/Market Watch--7.10.20
Goldman Sachs analysts are more confident than ever that gold will hit $2,000 an ounce. Earlier this week gold settled at a 9-year high and Goldman's now has "even greater conviction" in its bullish 12-month target for the metal.

Gold steadies near multi-year peak as virus fears mount- CNBC--6.29.20
Gold prices remain stable on Monday, holding close to eight-year highs, as the spread of coronavirus continues to accelerate, derailing any hopes of an economic recovery.

Top Banks Say Gold May See A Record Rally By 2021—Why Bitcoin Can Too- Forbes--6.28.20
Several top banks are foreseeing gold prices to rally by 2021. The top financial institutions are attributing the positive sentiment around gold to the potential devaluation of the U.S. dollar, uncertainty around the economy and rising demand for physical gold.

Gold Prices: Five Reasons Gold Is Set To Explode- Forbes--6.25.20
Gold prices have been in rally mode the last couple of weeks but experts say there are five reasons why gold prices are set to explode even further. These include a second coronavirus wave, possible new tariffs on Europe, a U.S.-China trade war, the number of U.S. unemployment claims and earnings season.

Bank of America backs gold for all-time high this year as precious metal surges- CNBC--6.25.20
Gold prices are up around 16% since the start of the year and analysts see the rally continuing amid virus uncertainty and reemerging global trade tensions.

Gold's trading patterns foreshadow record highs in the 2nd half of 2020, Bank of America says- Markets Insider--6.24.20
According to a recent note from Bank of America, gold prices could hit record highs before the end of the year if its rally continues to breach key resistance levels. Gold's next breakout level is seen at $1,900 per ounce.

Wisdom From Grandpa: Buy Gold- Zero Hedge--6.24.20
In Grandpa's day, money used to be backed by physical metal, putting some restraint on the amount of currency the government could issue. Today we have a pure fiat system where currency has no intrinsic value.

3 Reasons Why Gold Will Shatter All-Time Highs in 2021- CCN--6.23.20
Gold prices ended near eight-year highs on Tuesday and getting close to its old all-time high around $1,900 an ounce. Gold's recent rally has been part of a multi-year trend and now, thanks to a global pandemic and a rush of liquidity by central banks, gold's long-term rally is entering into an accelerated phase.

Gold prices highest since 2012 as US dollar stumbles - NY Post--6.23.20
Gold prices have surged to their highest level since October 2012 on a weaker U.S. dollar and widespread monetary stimulus packages by central banks. So far this year gold has gained nearly 16%.

Thousands of years of data suggest it’s time for this investment to shine - Market Watch--6.22.20
The gold-silver ratio tends to see a rise during uncertain times as investors latch on to gold. As of March 18, the gold-silver ratio reached an extreme high of 126.43 making silver look attractive right now.

Gold price surges to 7.5-year high as coronavirus concerns mount- Fox Business--6.22.20
Gold prices rallied to a more than 7.5-year high on Monday as investors continued to buy the precious metal on growing concerns over the strength of the economic recovery.

Gold Is Security In A Dollar Crisis- Zero Hedge--6.18.20
The dollar is "slowly losing market share as the world's reserve currency" according to one expert who also says that buying gold is the key to offsetting the dollar's decline.

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