Gold Market News

February 24, 2017

Gold prices hit three-month highs on a weaker U.S. dollar. Stocks fall as Trump rally pauses. Gold last traded at $1,258 an ounce. Silver at $18.34 an ounce.

Gold Up 9% YTD – 4th Higher Weekly Close and Breaks Resistance At $1,250/oz- Gold Seek--2.24.17
Gold pushed near a four-month high on heightened political uncertainty in both the U.S. and EU. Gold is currently set for a 1.5% gain this week and looks to set for a fourth consecutive week of gains.

Gold, silver remain foundation of freedom - Numismatic News--2.23.17
Government-created currencies do not serve the function of money as a long-term store of value, even though they may serve as a temporary medium of exchange. In contrast to the U.S. dollar, physical gold and silver have held their value over thousands of years without failure.

Gold rises to a roughly 15-week high as dollar wobbles- Market Watch--2.23.17
Gold prices jump to a three-month high on Thursday as the U.S. dollar lost ground to rivals in the wake of "fuzzier-than-expected" interest-rate comments from the Federal Reserve.

London Metal Exchange cuts deal with banks to propel gold futures- Reuters--2.23.17
The London Metal Exchange reached a 50:50 revenue-sharing deal with a company to promote trade in its new gold futures contracts.

Gold And The Inflationary Firestorm - Gold Seek--2.21.17
The upcoming March 15 debt ceiling and rate hike expectations are just some of the many reasons to own gold and silver. Also, more rate hikes will end stock buybacks for corporations and put pressure on their ability to finance their business operations which will cause serious price increases.

Gold To Rise – Inflation Rising and Real Chinese Gold Demand Higher Than “Official”- Gold Seek--2.22.17
Inflation rose as much as 2.5% year-over-year in January, the highest such rate since March 2012. According to former Fed Chair Alan Greenspan, "significant increases in inflation will ultimately increase the price of gold."

Euro Breakdown A Catalyst For Gold - Seeking Alpha--2.21.17
As the euro heads lower citizens will begin to look for alternative safe-havens to store the value of their money. One popular safe haven is gold.

Gold Standard Needed Now More Than Ever? - Alan Greenspan Comments - Kitco--2.17.17
Former Fed chair Alan Greenspan recently stated, "the risk of inflation is beginning to rise... significant increases in inflation will ultimately increase the price of gold" and he encourages investors to invest in gold now for insurance.

Gold notches highest finish in more than 3 months- Market Watch--2.16.17
Gold prices scored back-to-back gains, hitting its highest finish in more than three months. The boost came from a decline in the U.S. dollar, equities and bond yields.

This Country Wants Everyone to Have 100 Grams of Gold - Bloomberg--2.16.17
One nation is embarking on an experiment where every citizen diversifies into gold. Kyrgyzstan's Governor's dream is for every one its citizens to own at least 100 grams of gold.

Investors Brace For Storm Of Uncertainty With Gold - Forbes--2.15.17
Last year, central bank policy and negative real interest rates drove the gold rally. This year, Trump uncertainty is convincing the smart money to make wagers on gold. If gold continues on the track its on, it could gain another $100 an ounce this year, one expert says.

Money managers no longer hate gold, saying it’s undervalued - Market Watch--2.15.17
The latest survey of nearly 200 money managers worldwide shows a sudden and rare burst of bullishness about gold. These money managers are worried about inflation, stagflation and global protectionism.

Top gold ETF gets Islamic finance certification to tap new markets- Reuters--2.14.17
The world's largest physically-backed gold fund stated on Wednesday that it has been certified as sharia compliant. This is the latest effort aimed at spurring demand for bullion from investors in majority-Muslim countries.

Gold Up On More Safe-Haven Demand; Yellen On Deck - Forbes--2.14.17
Gold prices are higher on more safe-haven demand following the surprise resignation of President Trump's national security advisor. Now investors focus on Yellen testimony about the U.S. economy and monetary policy.

Germany has got its gold back — They must know something we don't--2.13.17
Bundesbank has pretty much repatriated half of its gold reserves ahead of schedule, sending the rumor mill into overdrive. The move was originally announced back in 2013, but now Bundesbank has confirmed that its plans to hold half its gold in Frankfurt is now three years ahead of schedule.

Trump uncertainty will continue to buoy gold prices: Asset manager- CNBC--2.13.17
Uncertainty during Donald Trump's presidency will boost the gold market, according to one asset manager. Trump's unpredictability and "unconventional way of governing" contributes to risks in market that used to be focused on the Fed.

This Banking Giant Says Take Hold of Gold in 2017 - Fortune--2.13.17
According to banking giant UBS, investors should hold gold in their portfolios. One expert says "inflation is going to accelerate faster than the Fed is going to hike rates."

Arizona bill would remove state tax requirement on sale of gold coins -
Arizona lawmakers are moving to allow residents to invest in gold coins and not have to pay state taxes on any profits they make when they sell them. One representative argues that it is simply exchanging one form of U.S. currency for another.

Gold isn’t done climbing, says ‘Precious Metals Investing for Dummies’ author- Market Watch--2.9.17
Gold is on the rise in 2017, buoyed by political and economic uncertainty generated by Trump's executive actions. According to one expert, gold prices aren't done rising yet and gold will go from a "safe harbor" asset to an "inflation hedge."

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