Gold Market News

Gold Market News

Gold prices see sharp rise as governments across the world have flooded their economies with financial aid. Stocks higher on better-than-expected economic data. Gold last traded at $2,025 an ounce. Silver at $26.13 an ounce.

August 4, 2020

Here’s what’s behind the ‘perfect storm’ sending silver prices surging - Market Watch--7.22.20
Silver prices saw their highest settlement since March 2014 and seems to be "caught up in the perfect storm." Much of what is driving silver is also driving gold and silver is still cheap relative to gold by historical measures.

Gold, silver prices surge to highest levels in years- Fox Business--7.21.20
Precious metal prices have rallied to their highest levels in years on fresh economic stimulus in Europe and a weaker U.S. dollar. Since the spread of COVID-19, investors have been turning to precious metals as a safer store of value.

Citi Says It’s ‘Only a Matter of Time’ Before Gold Hits a Record- Yahoo! Finance/Bloomberg--7.20.20
According to Citigroup, gold prices are set to take out the record set back in 2011. Gold prices are benefiting from loose monetary policy, low real yields, record inflows into ETFs and increased asset allocation.

Silver marks highest finish since 2016; gold ends higher for a second session - Market Watch--7.20.20
Silver prices marked their highest finish since 2016 while gold ended higher for a second session. Precious metals found support as a rise in COVID-19 cases threatened economic recovery.

Gold to push above $3K in 3-5 years: Fiat currency is a key bubble — hedge fund- Kitco--7.16.20
Gold prices could nearly double in three to five years, according to one hedge fund manager. Gold is an "anti-bubble" in an environment full of asset bubbles and runaway inflation.

Doomsday Hedge Fund Sees Gold Topping $3,000 an Ounce- Yahoo! Finance--7.15.20
One hedge fund manager returned 47% this year by betting on gold and Treasuries. He now says that the next decade is going to be marked by inflation that central banks will not be able to control and it will push gold to $3,000 to $5,000 an ounce in the next three to five years.

How High Can Gold Go In 2020?- Zero Hedge--7.13.20
Gold prices have risen in every single currency in the past year and gold prices are up well over 30 percent from last summer. One expert is predicting gold prices could rise as high at $2000 an ounce by the end of the year.

Gold is dangerously under-owned by Americans, especially now- FX Street--7.10.20
The vast majority of investors have no exposure to precious metals at all. Central banks continue to pump money in the economy which bodes well for gold and silver prices this year.

Gold at $2,000 Is Now Even More Likely, Goldman Says. Here’s How to Trade the Commodities Recovery. - Barron's/Market Watch--7.10.20
Goldman Sachs analysts are more confident than ever that gold will hit $2,000 an ounce. Earlier this week gold settled at a 9-year high and Goldman's now has "even greater conviction" in its bullish 12-month target for the metal.

Gold steadies near multi-year peak as virus fears mount- CNBC--6.29.20
Gold prices remain stable on Monday, holding close to eight-year highs, as the spread of coronavirus continues to accelerate, derailing any hopes of an economic recovery.

Top Banks Say Gold May See A Record Rally By 2021—Why Bitcoin Can Too- Forbes--6.28.20
Several top banks are foreseeing gold prices to rally by 2021. The top financial institutions are attributing the positive sentiment around gold to the potential devaluation of the U.S. dollar, uncertainty around the economy and rising demand for physical gold.

Gold Prices: Five Reasons Gold Is Set To Explode- Forbes--6.25.20
Gold prices have been in rally mode the last couple of weeks but experts say there are five reasons why gold prices are set to explode even further. These include a second coronavirus wave, possible new tariffs on Europe, a U.S.-China trade war, the number of U.S. unemployment claims and earnings season.

Bank of America backs gold for all-time high this year as precious metal surges- CNBC--6.25.20
Gold prices are up around 16% since the start of the year and analysts see the rally continuing amid virus uncertainty and reemerging global trade tensions.

Gold's trading patterns foreshadow record highs in the 2nd half of 2020, Bank of America says- Markets Insider--6.24.20
According to a recent note from Bank of America, gold prices could hit record highs before the end of the year if its rally continues to breach key resistance levels. Gold's next breakout level is seen at $1,900 per ounce.

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