Gold news & headlines
Latest breaking stories, features and analysis
- Gold prices hovered in a tight range today north of $1,900 per ounce as investors await for news from the U.S.
- OPEC+ held a meeting yesterday and discussed the ways of supporting the oil market amid the second wave fears
- The U.S. investment bank Citi set a price target of $40 an ounce for silver prices over the next 12-months
Features & analysis
Latest Gold news
Gold (XAU/USD) prices declined to the lowest level recorded since July as the U.S. dollar gains on rising concerns over new Covid-19 cases in Europe and emerging doubts on additional stimulus from the Fed in the United States. Fundamental analysis: Higher dollar pressuring gold prices A stronger USD makes gold prices more expensive for those who own other currencies. “We are seeing a risk-off environment taking hold, which means that...
The price of gold has extended its correction from the record highs above $2 070, registered in the first week of August. Despite this, there is no reason to panic and as long the price of gold is above $1 800 this precious metal is in the “buy” zone. Fundamental analysis: The price is supported by uncertainty over the global economic future Gold is considered a safe-haven asset and the price of gold has advanced in the wake of the co...
Gold (XAU/USD) prices have continued to trade mostly sideways in the past week after the European Central Bank (ECB) failed to provide any specific indication on further stimulus. Fundamental analysis: ECB offers no clues Spot gold prices are trading 0.2% higher to $1,944.27 per ounce today as the sideways action in the market continues. “The ECB did not address the stronger euro, neither did it come up with any stimulus plans, which will k...
Gold prices dropped below $2,000 an ounce today, allowing the dollar to stabilize near the multi-year lows. Investors will be closely looking for hints from FOMC minutes due later on Wednesday. Fundamental analysis: Consolidation before FOMC minutes Spot gold prices fell nearly 1% today as investors anticipate the release of the latest FOMC meeting minutes. U.S. gold futures plunged 0.8% to trade around the $2,000/oz mark. “Gold is do...
Gold prices have continued its impressive bullish run to print a new record high at $1,987.95/oz. The yellow metal has been an attractive option for investors as the U.S. dollar hits multi-year lows. Fundamental analysis: Nearly 18 million confirmed COVID-19 cases Gold prices hit a fresh all-time high today thanks to rising concerns over the economic spinoff due to an increase in the number of new coronavirus cases, which turned investors’ atten...
The US dollar has been absolutely destroyed in the last two months. Looking at charts, it seems that dollar buyers capitulated, at least in the short-term. The dollar index (DXY), which measures the value of a basket of currencies of the majority of the U.S.’s most significant trading partners, went from trading around at $100 to a 2-year low at $93.50 in two months. Why are investors selling dollars excessively? The dollar has found itself...
Gold prices have gained a further 2% on Monday to print the record highs above $1940/oz. A weaker dollar across the board, massive stimulus packages introduced around the globe, and resurging U.S. – China conflict have all helped gold prices to surge. Fundamental analysis: Gold prices shot higher as dollar takes a dive A surge in the number of new COVID-19 infections around the world is likely to prompt new actions from the central banks an...
Gold prices have recorded their best week since 2016 to surge above $1,900/oz for the first time since 2011. Investors are channeling their funds into precious metals amid forecasts that more stimulus is heading towards the troubled economies. Fundamental analysis: Gold bursts higher on stimulus forecasts Gold prices have continued their impressive bullish run, fueled by a weakened dollar and inflation anticipations due to incentive for cor...
Shares of Centamin (LON: CEY) surged 2% higher yesterday to trade above GBX193 for the first time since 2010. Centamin, a gold-mining firm operating mostly in Egypt, reported an increase in its production levels in the Q2. Fundamental analysis: New opportunities identified Centamin said its production levels in the second quarter were at 130,994 ounces of gold from the main Sukari mine in Egypt. This number exceeded expectations as the gold...
Gold prices (XAU/USD) climbed above $1,800 per ounce for the first time since 2011 as investors flee to safe-haven amid the rising number of new COVID-19 infections. The bulls completed an ascending triangle chart pattern and are now looking to consolidate gains near the recent highs. New 9-year high Gold spot prices exceeded $1,800 per ounce on Tuesday for the first time in 9 years. This move came on the back of the record inflows and risk-off a...
Gold prices rose to nearly $1,790 an ounce for the first time since 2012. Investors have turned to the yellow metal amid the surge in new coronavirus cases worldwide. Fundamental analysis: Record daily increase in new infections Fresh concerns over the rising number of new COVID-19 infections worldwide have facilitated a higher interest in safe-haven assets. The demand for the yellow metal has surged after the world witnessed the highest nu...
Gold prices (XAU/USD) have gained over 5% in the past two weeks after setting a 6-week low near the $1,670 mark on June 05. The buyers have now successfully broken above the ascending triangle’s resistance just below the $1,750 handle to pave the way for more significant gains in the coming days. Fundamental analysis: Banks bullish on gold, COVID-19 infections on the rise Bank analysts have been long bullish on gold prices, arguing that the low r...
Gold price rose by more than 0.80% after a bullish call by Goldman Sachs. Its price is trading at $1,736, which is the highest it has been since June 12. Goldman Sachs bullish on gold Goldman Sachs updated its prediction on gold today. In a note, the Wall Street firm said that gold price will hit $2,000 in the next 12 months. It expects it to hit $1,800 in the next three months and $1,900 in the next six months. The analysts point to currency deb...
Gold prices are trading more than 1% lower on the day as the price action approaches the key short-term support around the $1700 mark. Two weeks ago, the price of yellow metal reached its highest levels since 2012. Fundamental analysis: Profit taking pushes prices lower Gold prices have lost around 2% in the past two days, most likely on some profit-taking activities from the early investors. Prior to this pullback, gold prices hit a 7-year high...
June gold futures closed Tuesday lower by 1.7% at $1705.60 an ounce. A confluence of factors forced gold traders to assume a bearish view on gold. Higher supplies from mines and scrap, vaccine development, and a rising stock market combined to weaken gold bulls’ resolve. Gold is facing bearish developments According to SFA (Oxford) analysts, a surge in recycling volume is likely to swamp the bullion market as lockdown restrictions ease. Gold mine...
Following the month when the largest monetary and fiscal packages in history were unveiled, the U.S. banking giant JPMorgan Chase & Co (NYSE: JPM) believes there’s only one winner going forward, and that’s gold prices. Fundamental analysis: Currency debasement coming In the latest report published by JPMorgan, the bank’s analysts John Normand and Federico Manicardi believe that there is an increased risk of the currency debasement in the comi...
The world’s most precious metal, gold, is an excellent way to hedge the tail risk from COVID-19, according to a research report by Matthew Miller, CFRA. Further, gold’s fundamentals have strengthened following the massive amount of quantitative easing unleashed across the globe to combat the economic damage from the pandemic. An investment in gold mining companies is a great way to ride an appreciating gold price because gold miners are lev...