– Gold prices have continued to consolidate within a broad range as they struggle to break resistance above $2,700 an ounce. However, one bank remains optimistic about the precious metal, identifying four key factors expected to drive prices higher this year. Among commodities, gold is one of the few that analysts at BMO Capital Markets […]
The gold market continues to consolidate near its record above $2,750 an ounce. Despite the precious metal’s 33% rally so far this year, one analyst says this is still the calm before the storm, and now is the time for investors to be overweight in commodities, specifically gold. In a recent interview with Kitco News,
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Gold prices saw a 15% gain, despite challenging headwinds as the Federal Reserve maintained its aggressive monetary policies, supporting the higher bond yields and the U.S. dollar. The World Gold Council published its 2023 fourth quarter and full-year gold demand trends report, saying that annual gold demand, excluding over-the-counter markets, totaled 4,448 tonnes, a 5%
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In their recently published 2024 outlook, analysts at AuAg Funds said they expect to see a 20% rally in gold prices this year, pushing the market past $2,400 an ounce. “We believe that central banks will shift away from rate hikes and adopt a more accommodative policy stance in 2024, which will catalyze a substantial
“Investors are paying more attention to gold because they don’t want to be blindsided in 2024,” he said. The rapidly deteriorating globalization trend, which is eroding systemic trust, poses the biggest risks for the global economy in the next two years, according to the latest research from the World Economic Forum (WEF ). “Investors are
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Cavatoni said that central bank gold demand has completely transformed the marketplace as nations continue to diversify away from the U.S. dollar. The Federal Reserve aggressively raised interest rates at its fastest pace in more than 40 years this past year, the gold market still managed to trade around $2,000 and even carved out a
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According to Ing, the biggest global economic threat is growing debt problems in the U.S. Since 08 the supply of Treasuries has risen 5X to more than $25 trillion. One of Toronto’s oldest boutique investment firms is warning investors that gold could be a good asset to own as the world faces significant threats in
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While geopolitical uncertainty is important for gold, there are other factors we need to pay attention to: growing fears of a credit event leading to a recession. The chaos in the Middle East caused by the Israel-Hamas war is providing solid momentum for gold but there is more going on in the market than just
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“In my book is incoming stagflation and that’s been holding gold up at these levels,” he said. “We have said before, but now is the time to be patiently bullish on gold.” The gold market has room to fall further and even test support at $1,800 an ounce after falling below $1,900 for the first time since
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Strand noted that since President Richard Nixon closed the gold window, effectively taking the U.S. dollar off the gold standard, the U.S. dollar’s value against gold has declined 97%. The combination of unabated money printing from the central banks resulting in enormous balance sheets and higher money velocity gave us the latest price inflation,” Strand said in his latest
