Gold Market News

Gold Market News

Precious metal prices firmer as traders await FOMC meeting. Stocks higher as markets attempt to recover from two weeks of losses. Gold last traded at $2,159 an ounce. Silver at $25.05 an ounce.

March 18, 2024

Gold Gains Amid Fed Caution. Other Metals Rise. - Barron's--3.15.24
Metals prices were rising in early trading and stabilized just below record highs that were set at the end of last week. This likely reflects pricing in the Fed's cautious stance for now, with no expectations of interest rate cuts until the middle of the year.

Gold’s Record-Setting Pace Is Exuberantly Rational - Bloomberg--3.13.24
The economic backdrop is increasingly favorable for gold to achieve fresh highs. Gold has definitely broken out of the range its been stuck in since the start of the decade, reaching a record $2,195 per ounce this month. While a surge of buying from China is likely behind the recent rally, some of the more conventional factors that typically boost gold are starting to fall in line.

Sideways silver prices prove the gold rally is sovereign-driven, but analysts say the big move is coming - Kitco--3.14.24
Gold's record-setting runup in price has made many investors very happy over the last couple of weeks, with the yellow metal setting new all-time highs. One expert says the current gold rally is running on sovereign purchases.

Gold Is JPMorgan’s Top Pick in Commodities With Price Eyeing $2,500- BNN Bloomberg--3.13.24
Gold is the number one pick in commodities markets for JPMorgan and says the price has the potential to reach $2,500 an ounce this year, according to the bank's global head of commodities research. The Fed's long-anticipated pivot to looser monetary policy is widely expected to boost gold's appeal.

Gold Could Be Heading to New Highs Despite Hotter-Than-Expected Inflation Data - Investing.com--3.13.24
Gold and silver are looking to bounce back following the CPI-related drop. Even if gold were to weaken more in the short term, this wouldn't necessarily be a sign that the metal has topped. Many investors who missed the opportunity to buy gold when it started to rally will be waiting to pick up on short-term dips.

Gold, silver gain on friendly charts, bullish outside markets - Kitco--3.13.24
Gold and silver prices are higher and near their daily highs on near-term technical postures and positive outside-market forces. Gold prices also got a boost on a weaker U.S. dollar and higher crude oil prices.

Peter Schiff: Gold Is The Canary In The Economic Coal-Mine - Zero Hedge--3.12.24
Foreign central banks are losing faith in the dollar and because of that, are buying more and more gold. According to one expert, people are dumping gold stocks while gold prices are soaring and are not doing the proper things financially. If gold is really going up, that is the canary in the coal mine.

Gold is headed to $2,600, but wait for it to correct before buying it - DeCarley Trading’s Carley Garner - Kitco--3.12.24
Many investors are kicking themselves for missing out on gold's seven-day rally that pushed prices to record highs. However, one market analyst believes gold is going to go much higher to $2,600 and maybe even a little more than that.

Why gold may outperform stocks after record highs for both assets - Market Watch--3.11.24
Gold and the S&P 500 have both rallied to record highs in March, but one analyst suggests that the precious metal may perform a bit better that the index in the next month.

Gold firms on boosted rate cut bets as traders brace for inflation data - Reuters--3.11.24
Gold prices continue to climb higher on Monday, trading near its highest ever level after a record rally last week. Traders are waiting for U.S. inflation data that could provide more clarity on the Fed's interest rate trajectory.

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