Gold Market News

Gold Market News

Gold prices see pullback. Stocks remain flat as traders assess strong jobs report. Gold last traded at $2,003 an ounce. Silver at $23.03 an ounce.

December 8, 2023

Gold just hit a record high. Is it too late for investors to add it to portfolios? - Market Watch--12.6.23
Gold's rise to record-high prices does not mark an end to opportunities in the precious-metals market. There are still many benefits of gold in a broader investment portfolio. Gold has benefited from a weaker U.S. dollar and a sharp fall in rates as well as the growing expectations the Fed will cut interest rates in the first half of next year.

The Summer Of Central Bank Gold Buying Extends Into The Fall - Zero Hedge--12.6.23
Central banks have continued to gobble up gold over the summer and the buying spree has continued into the fall. Globally, central banks added another 42 tons of gold to their reserves in October with China continuing to be the biggest gold purchaser.

Gold prices see new bullish momentum after ADP says U.S. economy created 103K private-sector jobs - Kitco--12.6.23
The gold market is seeing renewed buying momentum as the U.S. labor market lost significant momentum last month. According to some analysts, gold is benefiting as the latest employment data fits the growing expectations that a slowing economy and cooling labor market will force the Fed to cut interest rates sooner rather than later.

The Factors Driving the Gold Price to New Highs - Bloomberg--12.4.23
Hopes of falling interest rates are certainly helping gold prices as well as current geopolitical tensions. However, one expert believes gold prices are getting a boost due to demand from wealthy consumers in emerging markets.

Gold will post fresh ATHs in 2024 as rate cuts, central bank purchases and geopolitics keep prices above $2,000/oz - ING's Manthey - Kitco--12.4.23
Gold prices will continue to set new all-time highs in 2024 as they get a boost from a weakening U.S. dollar and federal rate cuts, according to one strategist. Even with the strong safe-haven bid, the Fed remains the largest single driver for gold prices.

Gold price hits $2,100 for record high — and analysts don’t expect it to stop there - CNBC--12.3.23
Gold prices rose to a record high above $2,100 an ounce as the global rush for bullion continues. Analysts say gold prices are on course to hit fresh highs next year and could remain above $2,000 on geopolitical uncertainty, a likely weaker U.S. dollar and possible interest rate cuts.

Gold prices to see a sustained push above $2,100 in 2024 - TD Securities - Kitco--11.30.23
A record monthly close above $2,000 an ounce could be just the start for the gold market as one bank sees prices pushing above $2,100 through 2024. Analysts are expecting headwinds from a stronger U.S. dollar and higher bond yields to recede.

Can gold price climb to $2,400 levels in 2024 — explained with 5 reasons - Mint--11.30.23
Gold prices in the international market traded near a seven-month high amid expectations that interest rate cuts in the U.S. would come sooner than expected. Analysts are bullish on gold and anticipate the possibility of gold hitting $2,400 in 2024.

Gold rallies toward ‘golden cross’ after defying bearish signal - MSN/MarketWatch--11.29.23
Gold prices have climbed to their highest level since May, just eight weeks after a death cross in prices signaled the potential for further weakness. This marks a shift in the market toward a bullish indicator known as a "golden cross." According to one expert, "whether or not gold enters the golden cross, the investment case for gold is strong."

'You can never ever, ever have enough gold' - EMR Capital's Owen Hegarty - Kitco--11.29.23
Owen Hegarty, executive chairman of EMR Capital, says gold will always be in demand due to its dual nature. According to Hegarty, "you can never ever, ever have enough gold. Gold will always be in demand, because it's both a commodity and currency."

Goldman says ‘shine is returning’ for gold as investors ramp up bets on rate cuts - CNBC--11.27.23
Gold prices rose to a more than six-month high as the U.S. dollar weakened and investors make bets that the Fed is done with interest rate hikes. A weaker dollar and lower interest rates are often flagged by market-watchers as boosting gold prices.

Gold Pushes to 6-Month High on Weaker Dollar - Barron's--11.27.23
Gold prices pushed to a six-month high as a weaker dollar provides support for the precious metal. According to Goldman Sachs, "gold's shine is returning" and added that "the potential upside in gold prices will be closely tied to U.S. real rates."

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