Gold Market News

Gold Market News

Precious metals prices stable, set for weekly gain. Stocks continue their decline toward bear market territory. Gold last traded at $1,845 an ounce. Silver at $21.76 an ounce.

May 20, 2022

Gold climbs as dollar, risk assets slide on growth worries - CNBC--5.19.22
Gold prices jumped higher on Thursday as a drop in the U.S. dollar and Treasury yields rekindled demand for the safe-haven bullion. One expert believes concerns about global economic growth, fueled by sustained inflation and heightened geopolitical risks, should protect the yellow metal.

Gold prices above $1,830 as U.S. Weekly jobless claims hit a two-month high - Kitco--5.19.22
Growing weakness in the U.S. labor market appears to be adding to gold's technical bullish momentum. According to the U.S. Labor Department, weekly jobless claims rose by 21,000 to 218,000, up from the previous week's revised estimate.

New gold bull market to begin soon- Kitco--5.17.22
Precious metals have been hit hard in recent weeks but what is happening in the global macro world is necessary for a real bull market to begin in gold and silver. Recently and historically, every big move in precious metals has transpired around either a significant correction or bear market in stocks.

Worldwide gold demand rises during first quarter of 2022-Coin World--5.17.22
Worldwide gold demand for the first quarter of the calendar year 2022 was 34% higher than for the same period in 2021, according to the World Gold Council. Total market demand reached 1,234 metric tons - the highest since the fourth quarter of 2018.

Ghana starts gold purchase programme to strengthen currency- Reuters--5.17.22
The country of Ghana is relying on gold in an effort to strengthen the cedi currency without increasing inflation. The country saw consumer inflation rise to an 18-year record of almost 24% in April.

The Main Benefits Of Investing In Gold- Crypto Mode--5.16.22
Gold is a rare commodity that is not only valuable but also durable and portable. Diversification is key to mitigating risk and maximizing returns, and gold can play an important role in a well-rounded investment portfolio.

Gold ticks up as dip in U.S. yields loosens dollar's grip- Reuters/Kitco--5.16.22
Gold prices rose on Monday amid a retreat in U.S. Treasury yields as well as a weaker U.S. dollar. Many still regard gold as significantly undervalued and one expert says they "would be willing to buy the metal now that prices have weakened."

Gold price sees worst week in 11 months, but is the market oversold?- Kitco--5.13.22
According to one expert, gold's market is now oversold, and it won't be surprising to see a bounce back to $1,865 an ounce and then to $1,900 an ounce.

Short-term gold sector pain setting the stage for long-term gains- Kitco--5.13.22
The forced selling pain experienced in the marketplace is what has historically begun sustainable precious metals bull markets in the past.

Gold price on 'cusp' of $2k rally, here's how not to miss it – Bloomberg Intelligence - Kitco--5.11.22
Gold could be on the cusp of a major breakout above $2,000 an ounce, according to Bloomberg Intelligence. Investors have been reevaluating their risk-on positions as the Fed looks to tighten by 50-basis-points in June as it fights inflation.

Federal Reserve has hit peak hawkishness and that is good for gold - WisdomTree- Kitco--5.11.22
According to one expert, gold prices are on the path back to $2,000 even as the Fed embarks on an aggressive tightening cycle. According to the expert, gold could be pushing to $2,300 by the first quarter of 2023.

Gold's bearish momentum is fading, prices to hit $2,050 after moving past this level – ANZ- Kitco--5.10.22
Gold's current price serves as a solid price floor, according to Australia New Zealand Banking Group. Gold's upside potential is looking at $2,050 and will see support as a safe-haven as economic and geopolitical risks continue.

Why demand for gold is rising, and expected to continue amid volatility- Wealth Professional--5.10.22
Demand for gold rose significantly in the first quarter of this year. According to the World Gold Council, gold bar and coin demand in the U.S. is expected to keep rising this year.

Gold price firmer after U.S. jobs report that’s close to expectations - Kitco--5.6.22
Gold prices are moderately higher on Friday following an upbeat U.S. jobs report that came in close to market expectations. Gold prices also got a boost from a weaker U.S. dollar and a slumping stock market.

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