Gold prices are “not even that far away from all-time highs, so the upward momentum is there, we just need some kind of trigger to get it going,” Blue Line Futures chief market strategist Phillip Streible said.
Front-month Comex gold (XAUUSD:CUR) for January delivery settled +1.1% to $2,766.80/oz, gold’s 11th gain in 15 sessions, and front-month January silver (XAGUSD:CUR) closed +1.5% to $30.727/oz.
Source – Seeking Alpha
One gold and four silver pieces are being made available for collectors, the Royal Mint said, and they will be presented through auction via Stack’s Bowers Galleries.
“Each coin available at auction is a testament to the exceptional skills of our craftspeople at the Royal Mint.
“Taking hundreds of hours to produce, the masterworks crafted from gold and silver feature highlights from Paul’s career and his journey to becoming one of Britain’s most successful artists in history.
“The impressive five-kilogram gold coin has also been hand signed by Paul during his Got Back tour at the end of last year – a symbol of his personal seal of approval of this iconic one-of-one piece.”
People can bid for the coins online up until March 19, when the auction ends, with bidding starting at one US dollar.
Source – The Irish News
Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow said on Wednesday.
“We will start the operations as soon as we get approval to ship the gold and we need to ship the gold to pay anything to the government,” Bristow said, adding that Barrick paid $460 million to the Mali government last year.
“So if you calculate that to per week… and every week we don’t do this it hurts everyone,” he added.
Source – Reuters
Spot gold fell 0.2% to $2,634.52 per ounce by 2:27 a.m. ET (1927 GMT). U.S. gold futures settled 0.3% lower at $2,647.40.
“Bond yields are back up again, placing pressure on gold,” said Nitesh Shah, commodity strategist at WisdomTree.
“There’s speculation that Trump is going to pull back on tariffs … If (the prices of) commodities go up, inflation’s going to remain higher for longer,” Phillip Streible, chief market strategist at Blue Line Futures, said.
Source – Reuters
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
