Gold Market News
Metals prices jump higher as bullish technical charts fuel buying interest. Stocks continue higher as traders bet the regional banking crisis has stabilized. Gold last traded at $1,980 an ounce. Silver at $23.90 an ounce.
March 30, 2023
Why investors need to own gold in this banking crisis: There is always more than one cockroach in the kitchen - David Rosenberg- Kitco--3.30.23
The gold market will remain well supported and should eventually see a sustained break above $2,000 an ounce as the biggest banking crisis since 2008 is far from over, according to one esteemed economist. According to the economist, it is only a matter of time before gold prices push higher as the inverted yield curve highlights the 90% chance that the economy falls into a recession this year.
Traders Are Placing Bets on Another Gold Rally - ETF Trends--3.30.23
With the banking system on shaky ground and a more dovish Fed on the horizon, traders are placing bets on another gold rally. Gold prices are up 8% for the year, surging this past week after cracks were revealed in the banking system.
The Fed 'handcuffed' by hard landing and financial instability, gold price outlook revised up by double digits - MKS PAMP- Kitco--3.29.23
The recent failure of regional banks is a game-changer for gold and silver as it confirms that the Fed has broken something vital during its fastest tightening pace in decades. Because of this, one firm revised its gold and silver forecast 2023 average higher.
Gold to outperform silver in 2023 as BMO raises price forecasts- Kitco--3.29.23
Physical demand for gold is expected to be robust and push gold prices above $2,000 an ounce in the next three months as investors look for safe-haven assets to protect themselves from the growing banking crisis.
Gold bull market to push for record highs - fund manager Eric Strand- Kitco--3.28.23
According to one fund manager, its only a matter of time before gold pushes back to record highs. Gold will only benefit as the global banking crisis and the threat of recession forces the Fed from raising interest rates any longer.
Globalization and credit expansion are dead, "I remain so bullish on gold" - Peter Grandich- Kitco--3.28.23
The ongoing banking crisis has increased the likelihood and the severity of recession, according to Peter Grandich. Grandich sees gold as an excellent investment in the current environment, and not just as a safe haven or a hedge against inflation.
Gold bulls are in the driver's seat; market sentiment looking for prices to hold around $2,000- Kitco--3.24.23
Sentiment shows that gold bulls are in total control of the marketplace, according to the latest Kitco News Gold Survey. Both Wall Street analysts and retail investors are significantly bullish on gold.
Gold's bullish uptrend won't be reversed by a 'mean washout' - analysts- Kitco--3.24.23
Analysts don't see gold's bullish uptrend reversing soon. The bond market is signalling that a Fed pivot is coming and that is favorable for gold.
Gold set for fourth weekly rise as bank worries spark rush to safety- Reuters--3.24.23
Gold prices are on track to end a volatile week higher on Friday as bank contagion fears bolstered safe-haven demand. The metal will post a fourth consecutive weekly rise after climbing to its highest level in a year above $2,000 on Monday.
Gold nears breakout after the Fed signals an end to rate hikes- Kitco--3.24.23
After witnessing the 2nd and 3rd largest bank failures in U.S. history back to back, depositors withdrew $42 billion from U.S. banks last Friday. In contract, metals recorded a net inflow totaling $5.9 billion, which was the second largest weekly inflow since the 2008 global financial crisis.
Gold climbs as Fed signals only one more rate hike to come - Market Watch--3.23.23
Gold prices advance on Thursday as Treasury yields and the U.S. dollar retreated following the Fed's latest interest-rate rise. After the announcement, Fed Chairman Jerome Powell signaled only one more hike would likely follow this year.
Gold futures surge $32 higher after the Fed signals a pause in hikes is imminent - Kitco--3.22.23
Gold prices surged on Thursday as traders digested what the Fed said and did after their FOMC meeting. The Fed also announced that they would not continue aggressive rate hikes and that the pause of rate hikes is imminent and soon.
Gold prices could notch an all-time high soon — and stay there- CNBC--3.22.23
Gold prices have more room to run and could go as high as $2,600 as investors turn to gold after the collapse of Silicon Valley Bank and Credit Suisse. Continued central bank buying of gold also bodes well for long-term prices.
Gold rush still on for 2023, precious metals outperforming market last 6 months- Fox Business--3.21.23
Despite ongoing market volatility and a sluggish start to 2023, gold and silver continue to outperform on Wall Street while maintaining an upward trend towards historic highs. According to one survey, gold could top out a record $2,100 an ounce in 2023.