gold Market News 

Gold Price Falls to 2-Week Low Because Global Lockdowns are Easing

The gold price hit a two-week low of $1,705, as the global economy slowly becomes more optimistic. Gold is unlikely to hit new highs if equities and real yields continue gains but may resurge if the economic recovery falters. Gold will likely remain strong in the medium to longer-term, since the economic recovery will be slow and painful. Rising global economic optimism is holding back the gold price, which fell 1.1% yesterday to a two-week low of $1,705. As lockdowns ease around the world, investors are slowly piling into equities…

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gold Market News 

As Hypervolatility Rages, the Gold Price Is Surging for One Simple Reason

June gold futures peaked at $1,677.20/oz., fully offsetting losses incurred over a ten-day slump earlier this month. Bullion is one of the only positive-returning assets of 2020, partly because options for wealth preservation are extremely limited right now. U.S. economic numbers are about to get even grimmer as millions are laid off work amid the coronavirus pandemic. The price of gold continued to climb on Thursday, even as risk appetite returned to global markets in the wake of a landmark stimulus bill designed to restart the American economy. As Frank…

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gold Market News 

Why the Gold Price Is Surging Despite Record High U.S. Stock Market

Gold’s price is on the rise despite record high numbers from the U.S. stock market. Up until the third quarter, gold was considered overbought based on some technical indicators. Stability in the market is making gold more favorable. Gold’s rally indicates investors still see big risks in the global market regardless of the U.S.-China trade deal. The gold price has nearly fully recovered from a short-term drop to $1,450 in early November. The recovery of the safe haven asset casts doubts on the sustainability of stocks, which surged to record…

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gold Market News 

Saxobank Exec Warns that Gold Could Plunge Another 13%: How it Could Happen

The gold price has been on a decline despite reports of negative economic data. According to SaxoBank head of commodity strategy Ole Hansen, it could drop by another 13%. In a recent tweet, Hansen said: Last time #gold ran away from its 200 DMA by 13% the correction did stop not before it was 13% below. Back then the rally was driven by North Korean threats. This time the ground feels firmer but a return to the 200 DMA can not yet be ruled out. Chart source: Bloomberg pic.twitter.com/CmU2M5qyFx —…

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gold Market News S&P 500 

Gold Price Dangerously Close to 3-Month Lows as Dow, S&P 500, Nasdaq Touch All-Time Highs

Gold sinks to a low near $1,460/oz. Bullion suffered its third consecutive drop and is now on the brink of re-testing three-month lows. S&P 500, Dow and Nasdaq surge to all-time highs. The price of gold suffered another selloff Monday and headed for its third consecutive loss, as U.S. stocks touched new all-time highs on China trade-deal optimism. Gold Price Suffers Another Setback Gold for February delivery fell $9.80, or 0.6%, to $1,460.70 a troy ounce on the Comex division of the New York Mercantile Exchange. That’s the lowest in…

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bitcoin Cryptocurrency News gold Peter Schiff 

Bitcoin Hater Peter Schiff Is the Gold Bug Who Cried Wolf

Peter Schiff is once again making apocalyptic bitcoin price predictions. This isn’t the first time the famous gold bug has sounded the alarm on the crypto market. Are crypto investors right to treat him like the boy who cried wolf? Peter Schiff has remained active on Twitter lately, chiming in on the Fed’s ballooning balance sheet and the sharp gold sell-off. However, another issue catching significant traction is his extremely bearish view on bitcoin. Peter Schiff: ‘Get Ready for the Dump’ Even though the largest cryptocurrency is widely considered to…

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gold Market News 

Gold’s Flash Crash Gives Rise to Buyers After China Pushes Back on Tariffs

Gold recovers after posting its biggest fall in over a month. China is looking for a significant rollback in tariffs before finalizing ‘phase one’ trade agreement with Washington. U.S. dollar maintains three-week highs. The price of gold bounced on Wednesday, one day removed from its steepest drop in over a month as investors began to doubt the prospect of an interim trade deal between the U.S. and China. Gold Price Recovers; Silver Follows Precious metals were higher across the board Wednesday, a reflection of subdued risk sentiment in the market….

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gold Market News silver 

Gold Price Makes Comeback Rally Over Mideast Tensions

Gold’s price rallies back above $1,500 a troy ounce on Monday. | Image: Shutterstock Gold’s price staged a large relief rally on Monday, as investors’ risk appetite soured following the latest developments in the Middle East. Dow futures also fell sharply ahead of the opening bell in New York, mirroring a subdued market for stocks. Gold Rises; Silver Follows Precious metals advanced sharply on Monday even as the U.S. dollar strengthened against a basket of its major peers. Dollar-denominated gold and silver often move inversely with the greenback because the…

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bitcoin Cryptocurrency News gold Ray Dalio travis kling 

Precious Metals Rally but Are Gold Bugs Secretly Holding Bitcoin?

Gold stocks are on a tear. So much so that one analyst believes that they are about to become the next FAANG stocks, the latter of which represent high-flying tech companies that have been fueling much of the stock market’s gains lately. On CNBC, Wolfe Research Technical Analyst John Roque touts what he calls the BAANG stocks, which are a group of five gold companies that together have advanced more than 40 percent since May. These companies include Barrick Gold, AngloGold Ashanti, Agnico Eagle Mines, Franco Nevada, and Gold Fields….

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Cryptocurrency News Donald Trump gold Iran U.S. Politics 

Iran Punks Trump With Historic Gold-Backed Crypto Scheme

Days after President Trump slammed bitcoin and the very idea of crypto, geopolitical foe Iran revealed that it is ready to unveil its own gold-backed cryptocurrency. Gold held in reserve by the Middle East country’s central bank will back the value of tokens on the blockchain of Iran’s new central bank “cryptocurrency” – which might be a generous term. The crypto will be mined by a small consortium of private Iranian tech companies. The move could further complicate tensions between the oil-rich country and the United States. News of the…

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