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Gold bullion edged 0.2% lower

ByVictoria

Bullion edged 0.2% lower to around $2,750 an ounce, roughly just $40 short of its all-time high and still set for a fourth straight weekly gain.

The president has identified China, the EU, Canada and Mexico as potential targets for import levies, though there is uncertainty over whether he will follow through with the threats. 

Gold traded at 2,751.44 an ounce as of 10:48 a.m. in London. Silver, platinum and palladium fell. The Bloomberg Dollar Spot Index was relatively unchanged.

Source – Bloomberg

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Gold’s going to reach $4,000, says Gundlach

ByVictoria
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“Gold continues its bull market that we’ve been talking about really now for a couple of years ever since gold was down to $1,800,” DoubleLine Chief Executive and Chief Investment Officer Jeffrey Gundlach told investors on a call he hosted that was held this week, but before gold futures reached the $3,000 per ounce milestone for the first time.

“I’d be so bold to say I think gold will make it to $4,000. I’m not sure that’ll happen this year, but I feel like that’s the measured move anticipated by the long consolidation at around $1,800 on gold,” he said.

Source – Market Watch

Jeffrey Edward Gundlach – is an American businessman, investor, and philanthropist. He is the founder of DoubleLine Capital an investment firm.

DoubleLine Capital – American investment management firm. Headquarters in Tampa, Florida.

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Fifth Straight Significant Silver Supply Deficit Forecast for 2025

ByVictoria
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Supply is expected to grow by 3 percent, but it won’t be nearly enough to feed growing demand. This will lead to a 149 million-ounce market deficit. While the gap between supply and demand will shrink by about 19 percent from last year’s level, it will remain “sizeable historically.” 

Source – Money Metals / Written by Mike Maharrey

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Reserve Bank of India becomes more strict on gold loans

ByVictoria
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India’s central bank plans to ask lenders to follow stricter underwriting processes for gold loans and monitor the end-use of funds as it tries to cool growth in the fast-growing segment, seven people, including industry sources and those aware of the regulator’s thinking, said.

“The RBI wants to ensure that the entities are following a standard protocol and any growth in the gold loan sector is not out of bounds,” one of the sources aware of the central bank’s thinking, said.

Source – Reuters

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Gold close to reaching $3000

ByVictoria
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It appears that the Federal Reserve is on hold when it comes to moving interest rates until midyear, said Peter Grant, vice president and senior metals strategist at Zaner Metals. But “most of the other major central banks remain in easing mode, providing an additional tailwind for gold.” Ongoing trade and geopolitical uncertainty suggest upside potential to the psychologically important $3,000 level, he said.

Source – Market Watch