Gold prices drop as dollar gains ground. Stocks suffer sharp declines as the number of COVID-19 cases jump in Europe. Gold last traded at $1,909 an ounce. Silver at $24.42 an ounce.
September 21, 2020
Currency war to make gold the ultimate winner - Commerzbank - Kitco--9.21.20
Renewed strength in the U.S. dollar is putting pressure on gold, but one bank sees the start of a currency war where the metal could be the ultimate winner.
A lot of capital waiting to jump into the gold market - Incrementum- Kitco--9.18.20
Gold's current consolidation is helping to remove some froth from the market. According to one expert, it is only a matter of time before gold prices push higher.
Gold prices set to soar as Fed signals years of low interest rates- Fox Business--9.17.20
Gold prices are set to rise after more than a month of moving sideways, according to one analyst. Gold will be driven by a positive technical backdrop and the likelihood of sustained low interest rates.
Gold price is flashing a 'very good sign - Peter Hug- Kitco--9.17.20
According to Peter Hug, it is a "very good sign" that gold has consolidated between a support level of $1,925 and $1,975 an ounce for the better part of two weeks. Hug believes this is setting up for the next leg higher.
Ray Dalio’s Dollar Warning Suggests Gold Price Will Surge- CCN--9.16.20
Ray Dalio has warned that the U.S. dollar's global reserve currency status is in danger, which could benefit gold. The price of gold will be one of the primary beneficiaries of the dollar's decline and some analysts are even predicting $2,500 or even $3,000 gold in the near-term.
Now is the time for gold, silver to shine - former Goldman Sachs CEO- Kitco--9.16.20
According to a former chairman and chief executive officer at Goldman Sachs, now is the time for gold and silver to do well. Goldman Sachs is fairly bullish on gold, and sees prices pushing to $2,300 an ounce within 12 months.
Gold prices tally best one-day gain since August as dollar weakness buttresses bullion - Market Watch--9.14.20
Gold prices tallied their largest one-day gain of the month on Monday amid weakness in the U.S. dollar and low government bond yields. The metal is now trading in a range that some market experts see as forming a bullish pattern.
Volatility in oil and gold may offer more opportunity than risk - Market Watch--9.14.20
Many of the biggest movers in commodities this year, like oil and precious metals, will continue to stay in the spotlight. According to one expert "the factors that underpinned gold's move higher are still with us."
Gold rises 1% as dollar weakens after ECB stands pat on policy - CNBC--9.10.20
Gold prices jumped 1% as the dollar weakened after the European Central Bank kept its policy unchanged while U.S. jobless claims held at high levels, dimming any hopes of a quick economic recovery.
Gold to surge towards $2300 as physical demand revives – ANZ- FX Street--9.10.20
Equity market turmoil is supporting gold's role as a risk diversifier. Central banks also remain dovish, with interest rates expected to keep near zero. This also supports gold prices reaching $2,300 next year, according to one expert.
Gold Is the Most Stable Currency in the Long-Term- Yahoo! Finance--9.3.20
Long-term investors and central banks store gold in their vaults because gold retains its purchasing power. The stability of gold's purchasing power in the long-term is the main reason to own it.
Gold is your protection in an economic war on savers - Rick Rule- Kitco--9.3.20
An economic war on savers is going to push gold prices much higher, according to one market expert. Since the U.S. central bank will continue to be forced to keep interest rates low, it will continue to drive gold prices higher.
Fund That Beat 82% of Its Peers Sees Gold as Safe Election Play- Bloomberg--9.2.20
The Dynamic Precious Metals Fund, which beat 82% of its peers this year, sees gold as a "nice safe" bet as we head into the election. So far this year, investors have flocked to safe-haven assets amid massive central bank stimulus and lower real rates, sending gold surging to record levels.
Former Central Banker: "The World Is Heading Towards A New Monetary System That Incorporates Gold"- Zero Hedge--9.2.20
According to one former central banker, the world is heading towards a new monetary system that incorporates gold. This expert believes the dollar will lose its primacy status, and gold and other currencies will compete with each other.