Gold Market News

Gold Market News

Gold prices jump as pending home sales disappoint. Stocks higher as investors shrugged off data showing slower-than-expected growth. Gold last traded at $1,829 an ounce. Silver at $25.57 an ounce.

July 29, 2021

Gold price largely ignores Federal Reserve statement that provides little new information- Kitco--7.28.21
Gold prices remain stable around $1,800 an ounce as the Fed sheds little light on monetary policy. The U.S. bank decided to leave interest rates unchanged and said the U.S. economy didn't progress enough to shift current monetary policy.

The last time bond yields were this negative gold price was at $2,000 – Credit Suisse- Kitco--7.27.21
The gold market can only ignore falling bond yields for so long and its only a matter of time before gold prices turn back towards $1,900 an ounce and its all-time highs hit last year.

Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good price' - Adrian Day- Kitco--7.27.21
The current level of national debt cannot sustain a rise in the Fed Funds rate, according to chairman and CEO of Adrian Day Asset Management. Before raising rates, the Fed could signal tapering through various actions.

Hold on to your gold; a Fed rate hike in 2023 could be too little too late for inflation - VanEck's Joe Foster- Kitco--7.21.21
The gold market may currently be struggling, but one fund manager believes that the rally in gold is far from over and there is still plenty of uncertainty to support precious metals prices.

Goldman Sachs is looking for $2K for Gold- Kitco--7.21.21
In their latest research note, Goldman Sachs is expecting $2000 gold in 3, 6 and 12-month horizons assuming there are no more widespread lockdowns. The Bank itself is not expecting any more widespread lockdowns.

Investing in stocks, bitcoin is 'very dangerous,' gold is the place to be, says veteran investor- Kitco--7.19.21
According to one veteran investor, stocks and bitcoin are a "very dangerous" business right now and gold is the place to be. A volatile crypto space, an overpriced stock market and high debt levels makes gold a once-in-a-decade investment opportunity.

Brazil's central bank buys 41.8 tonnes of gold in June- Kitco--7.19.21
Central banks are building their gold reserves once again. The Brazilian central bank has become the latest bank to increase its precious metals holdings. The bank increased its holdings by more than 52% in June.

Inflation hit another 13-year high, expect $2k gold price by year-end if things don't change- Kitco--7.15.21
The U.S. CPI Index rose 0.9% in June after a 0.6% rise in May. Will Rhind, CEO of GraniteShares, said that gold can continue to rise is inflation does not cool off since gold is considered an inflation hedge.

Gold pushes higher against Canadian dollar as Bank of Canada starts to tapper bond purchases- Kitco--7.14.21
Gold is moving higher against the Canadian dollar as the Bank of Canada announced a reduction in its weekly bond purchase program. Gold is getting a boost as the Bank's move wasn't as aggressive as some expected.

Gold jumps as Powell plays down Fed taper talk- CNBC--7.13.21
Gold prices jumped after U.S. Fed Chairman Jerome Powell reassured investors that the central bank would continue its accommodative monetary policy despite a recent spike in inflation readings.

Gold firms after U.S. CPI surge; strong dollar limits gains- CNBC--7.13.21
Gold prices climbed on Tuesday following the release of a report that showed consumer prices rose by the most in 13 years last month. Markets will now eye Fed Chairman Jerome Powell's testimony for any hints on the central bank's eventual tapering of asset purchases.

Trader sets key level to watch in gold after metal’s third straight weekly gain- CNBC--7.12.21
Gold is having a good month and has notched three straight weekly gains. Investors are going back to the safe-haven asset amid concerns around the global economic recovery.

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