Gold Market News

Gold Market News

Gold prices stabilize ahead of the holiday weekend. Stocks struggle to find footing after rough session. Gold last traded at $2,341 an ounce. Silver at $30.51 an ounce.

May 24, 2024

Gold still on track to hit $3,000 as U.S. debt burden grows - Maison Placements Canada’s John Ing - Kitco--5.23.24
After hitting record highs, gold prices pulled back as hawkish sentiment from the Fed spooked the markets. However, according to one market analyst, gold's rally is far from over. In his latest commentary, John Ing reaffirmed his price target, expecting the precious metal to rise to $3,000 an ounce within the next 18 months.

Gold Continues to See Buyers on Dips - FX Empire--5.23.24
Gold prices fell a bit and as a result, value hunters came out to pick the market up yet again. The market also is enjoying continued central bank buying. Geopolitics may also come into play as investors seek safety in the precious metal.

Signs that a global gold standard is gaining traction – Steve Forbes - Kitco--5.22.24
There are multiple indications that the world is progressing towards a transition to a new gold standard, according to Steve Forbes. Forbes said that despite many myths and pervasive ignorance surround gold-based money, it worked very well for a long time.

Gold Is Having A Moment - From Geopolitical Unrest To Economic Uncertainty, These Are The Reasons Investors Can’t Get Enough Of This Precious Metal - Morningstar--5.22.24
Gold prices have been soaring recently with central banks, institutional investors and well-heeled investors snapping up gold bars and coins. There are several reasons for the increased demand including its safe haven status and ongoing concerns about the economy amid elevated interest rates and persistent inflation.

10 reasons why gold is gleaming more than ever - Fox Business--5.21.24
Stability, demand, scarcity and diversification are just some of the reasons why gold has been coveted throughout history. The metal's allure is still going strong today and one of the biggest reasons for gold's appeal is because its value is not tied to just a few factors.

After ‘Rigorous Analysis’, Expert Says Gold Prices Will Reach $27,000 - Watcher.Guru--5.21.24
According to one forecast, the prices of gold are set to spike more than 10x from where they are now. Expert Jim Rickards is estimating that gold price could reach a new high of $27,000 two years down the line in 2026.

'Perfect storm' steers gold to another record high; silver jumps - Yahoo! Finance--5.20.24
Gold prices rose to an all-time high on Monday thanks to U.S. rate cut expectations, China's stimulus measures and geopolitical tensions. The momentum also carried silver to an 11-year peak. Adding to gold's upside was elevated risk aversion as Iranian President was killed in a helicopter crash.

Gold prices have hit a record high - QZ--5.20.24
Gold prices have hit a new record high on Monday. Gold prices are up more than 17% so far this year. That is a better performance than the S&P 500, which is only up 11.6% since the end of 2023.

Precious metals prices projected to rise 8% in 2024, with gold leading the charge – World Bank - Kitco--5.16.24
Gold prices will continue to rise, with geopolitical and emerging market demand providing upside risk. The World Bank's precious metals price index climbed 9 percent in April 2024, continuing its upward trajectory from the first quarter.

$27,000 Gold - Zero Hedge--5.16.24
One expert is calling for $27,000 gold by 2026. Central bankers may return to gold not because they want to, but because they must in order to restore order to the global monetary system.

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