Gold Market News

Gold Market News

Gold prices pull back as traders digest last night's presidential debate. Stocks higher on latest U.S. economic data. Gold last traded at $1,892 an ounce. Silver at $23.55 an ounce.

September 30, 2020

Investors should buy gold after its recent sell-off for these 3 reasons, according to UBS- Markets Insider--9.29.20
The current correction in gold should be viewed as temporary rather than a start of a further decline, according to UBS. Investors should instead use the recent sell-off as an opportunity to add exposure at lower prices.

This is the time to buy gold, says Wells Fargo- Kitco--9.29.20
Wells Fargo is viewing the recent pullback in gold as a great buying opportunity during a well-expected correction. According to the bank, "the fundamental backdrop looks good."

UBS Tells Clients To Prepare For A Contested Election By Buying Gold- Forbes--9.28.20
Investors are growing increasingly fearful of a contested presidential election and UBS is the latest Wall Street firm to warn about increased stock market volatility and is encouraging its clients to buy safe-haven assets like gold.

This Gold Price Correction Is Normal And Healthy, Says The DNA Of Volatility- Forbes--9.28.20
Gold had a rough week last week as the U.S. dollar rallied against the euro. Corrections such as this are normal and healthy and are a part of gold's DNA of volatility.

Gold Prices Nearing Major Buy Signal- Yahoo! Finance--9.24.20
According to one expert, gold is dropping into the next intermediate low and price should bottom in late September or early October.

3 Reasons Why This Gold Correction Could Be The Last Below $2,000- Seeking Alpha--9.24.20
Gold will fall initially until the next round of money printing begins, at which point it should break through $2,000 for the last time. This could be the last opportunity to buy at these prices.

Use this gold price weakness as 'aggressive buying opportunity', says Goehring & Rozencwajg- Kitco--9.23.20
Investors should use these temporary lower prices as an "aggressive buying opportunity" before the second leg of the rally kicks in, according to Goehring & Rozencwajg Associates managing partner Leigh Goehring.

Gold May Hit Record Before Year-End on U.S. Election Risk, Citi Warns- Yahoo! Finance--9.22.20
Gold could hit a record before the end of the year, aided in part by the risks surrounding the U.S. presidential election, says Citigroup. According to the bank, the election "could be an extraordinary catalyst for gold."

Russian banks boost gold reserves to historic high amid COVID pandemic - RT--9.22.20
Russia's gold holdings increased in August, reaching almost $7.4 billion according to data released by the country's central bank. Gold reserves have amounted to a record 121 tons, which is 10.9% higher than the maximum reached in October 2019.

Gold price 'to recover quickly' after Monday's selloff: Commerzbank- Kitco--9.22.20
Gold is expected to recover after Monday's selloff, according to Commerzbank. According to the bank, "the general situation remains bullish for gold."

Currency war to make gold the ultimate winner - Commerzbank - Kitco--9.21.20
Renewed strength in the U.S. dollar is putting pressure on gold, but one bank sees the start of a currency war where the metal could be the ultimate winner.

A lot of capital waiting to jump into the gold market - Incrementum- Kitco--9.18.20
Gold's current consolidation is helping to remove some froth from the market. According to one expert, it is only a matter of time before gold prices push higher.

Gold prices set to soar as Fed signals years of low interest rates- Fox Business--9.17.20
Gold prices are set to rise after more than a month of moving sideways, according to one analyst. Gold will be driven by a positive technical backdrop and the likelihood of sustained low interest rates.

Gold price is flashing a 'very good sign - Peter Hug- Kitco--9.17.20
According to Peter Hug, it is a "very good sign" that gold has consolidated between a support level of $1,925 and $1,975 an ounce for the better part of two weeks. Hug believes this is setting up for the next leg higher.

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