Gold Market News

Gold Market News

Gold prices fall on stronger-than-expected jobs report. Stocks fall as January jobs report suggests Fed will keep hiking rates. Gold last traded at $1,866 an ounce. Silver at $22.41 an ounce.

February 3, 2023

Gold, Silver Prices to Rise in 2023, Analysts Say - Market Watch--2.1.23
Gold and silver prices are expected to rise in 2023 thanks to a weaker U.S. dollar and easing monetary policy. A recent survey indicated that 43% of those surveyed believe the U.S. dollar and Fed policy would be the key to driving prices higher, while 14% said inflation and 11% said geopolitical factors.

Gold demand surged to an 11-year high in 2022 on ‘colossal’ central bank buying- CNBC--2.1.23
Annual gold demand has jumped 18% across the year. That is the largest annual figure since 2011, fueled by record fourth-quarter demand. Central banks were major buyers, purchasing 1,136 tons, a 55-year high.

Gold And The Shrinking Trust Horizon- Zero Hedge--1.31.23
The biggest system that the experts have failed to manage is money. If we can't trust the authorities to maintain the value of the dollar then we need other forms of money to trust, and that would be gold and silver.

Why is central bank gold buying at 55-year highs?- Kitco--1.31.23
Central banks have purchased 1,136 tonnes of gold in the last year, the most since 1967 according to the World Gold Council. This was a more than 150% increase from last year and the second-highest level on record going back to 1950.

Opinion: Gold in your 401(k)? It’s not as crazy as it sounds. - Market Watch--1.28.23
Central banks are stocking up on gold and it may not be bad for individuals to do so as well. Three economists have published a new report pointing out that gold has been coming back in as an international reserve currency.

Gold's going back to record highs above $2,000 but a correction would be healthy - Carley Garner- Kitco--1.26.23
Gold's $300 rally since November is just the start of a major move. One expert is looking for gold to eventually break through to all-time highs above $2,100 an ounce this year.

China’s first gold purchases since 2019 keep bullion bulls upbeat as Citic sees chance of record-breaking run in 2023 --1.25.23
Citic Securities sees a good chance of gold prices reaching new heights in 2023 as central bank purchases brighten outlook. Gold prices will get a boost on haven demand as recession and geopolitical risks remain.

Opinion: Central banks are buying gold at the fastest rate in half a century - Market Watch--1.26.23
Central banks are stocking up on gold and have been stockpiling bullion over the past 15 years. More recently, central banks worldwide bought more gold in the third quarter of 2022 than in any other quarter in 55 years.

Commodities set to rally in 2023 as Fed tightening loosens - Will Rhind- Kitco--1.26.23
Commodities, including gold, are set to rally in 2023 as the Fed's monetary stance loosens and a soft landing is in sight. One expert said that a weakening dollar will make it cheaper to purchase commodities, and could boost demand for gold.

China's biggest brokerage sees gold price at record highs this year- Kitco--1.25.23
Citic Securities is looking at gold hitting record highs this year, citing central banks' gold buying as one of the most reliable bullish signals. Central banks began looking at gold in the second half of last year and bought nearly 400 tons in the third quarter of 2022.

Idea of minting $1 trillion platinum coin to avoid U.S. default is back and Yellen weighs in- Kitco--1.24.23
The idea of minting a $1 trillion coin is gaining traction as the debt ceiling debate takes over the headlines in the U.S. The $1 trillion platinum coin loophole potentially allows the Treasury Department to mint platinum coins of any denomination and deposit them at the Fed in exchange for the U.S. federal debt.

Gold prices seeing their best start to the year since 2012, flirting with a technical bull market- Kitco--1.24.23
Overnight, the gold market climbed above $1,940 an ounce, pushing it briefly into an official bull market. Along with its bull-market status, the metal is up $100 in the first month of 2013, its best start to the year since 2012.

Charts suggest investors should ignore ‘crypto cheerleaders’ and stick with gold, Jim Cramer says - CNBC--1.23.23
Jim Cramer is warning investors to stay away from crypto despite bitcoin's recent gains and instead look to gold. According to Cramer, if investors want a real hedge against inflation or economic chaos, then they should stick with gold.

Gold Has the Edge Over Stocks in 2023 - Barron's/MarketWatch--1.23.23
Since December, gold and the S&P have been moving in opposite directions with gold up 7% and the S&P down 2.4%. After declining for two years from $2,070, gold prices has recently vaulted, recovering two-thirds of its decline in less than three months.

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