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Gold sees longest rally since 2020

ByVictoria

“During the last three days, gold is up over 8% and on pace for its largest three-day move since March 2020,” Bespoke Investment Group said in a note Friday morning. “Before that, you would have to go back to the financial crisis to find the last time it rallied as much in three days.”

“Gold may be catching a bid, but the dollar has floundered,” said Bespoke. “If you were looking for bonds to provide some ballast in your portfolio this week, you didn’t get it with Treasuries.”

Source – Market Watch

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    Silver Continues to See Buyers on Dips

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    Silver has initially fallen significantly in the early hours of Tuesday, as the market reacted to the ceasefire, taking out some of the “risk trade.” However, we are holding the range again. Ultimately, there are a lot of “moving pieces” to pay attention to. 

    Source – FX EMPIRE

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    Gold and gold futures up, Silver down 0.7%

    ByVictoria
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    Gold prices rose on Friday as investors turned to the safe-haven asset after United States President Donald Trump imposed fresh tariffs on a broad range of countries, while the market’s focus shifted to the U.S. non-farm payrolls report.

    Spot gold was up 0.3% at $3,299.54 per ounce, as of 1119 GMT. However, bullion is down 1.4% so far this week.

    U.S. gold futures rose 0.1% to $3,351.40.

    “The incoming US jobs report may also trigger another big move for gold. Another demonstration of resilience by the U.S. jobs market could send gold southbound towards $3,200,” Han Tan, chief market analyst at Nemo.Money.

    Spot silver fell 0.7% to $36.49 per ounce, platinum lost 1.6% at $1,269.27 and palladium was down 1.7% at $1,170.35.

    Source – Reuters

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    Gold is edging closer to new record high

    ByVictoria
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    The yellow metal’s February futures contract climbed $13.90, or 0.5%, to finish at $2,778.90 an ounce on Comex Friday.

    “gold’s run to and past $3,000 is only held back by the strong U.S. dollar index,” said Peter Spina, president and founder of GoldSeek.com.

    Source – Market Watch

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    Gold eyes milestone, bear case being planted

    ByVictoria
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    “What we have seen is the change in the motive for safe-haven buying – from being driven by the Middle East uncertainty to the threat and realisation of tariffs,” said Philip Newman, managing director at consultancy Metals Focus.

    “Strikingly, gold was rallying as inflation eased, and it looked as though all of our understanding of how gold prices behaved was being challenged,” said independent analyst Ross Norman.

    Nicky Shiels, head of metals strategy at MKS PAMP SA, said that while prices could break out towards $3,200, resolution of physical gold dislocations attributed to tariffs and potential structural changes including reduced risk appetite, reduced participation and reduced liquidity are increasingly bearish.

    Source – Reuters

    More info!

    Bear (in finance) – is an investor who believes that a particular security or the broader market is headed downward and my attempt to profit from a decline in stock prices. Bears are typically pessimistic towards a state of any given market or underlying economy.

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    Opinion piece, Gold impacted by panic buying

    ByVictoria
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    Some finance experts in Simpsonville said they’ve seen a surge in people investing in gold. They said it follows fears over the economy slowing. 

    Co-owner of JEHM Wealth and Retirement Eric Lahaie told 7NEWS the value of gold has increased by more than 30 percent in the last six months. He emphasized that it is largely because of panic buying.

    “The appreciation is all that you’re going to get out of it. It doesn’t produce a dividend. It doesn’t generate interest like a stock, or a bond will do. So, you don’t get that advantage. And then, as I said earlier, it kind of moves in big jumps, and then flattens out for a long time,” said Lahaie. 

    “If you buy it in a brokerage account, when you sell gold, your gains are taxed at your ordinary income up to 28 percent,” Lahaie also said. “Versus, if you sell stock, as long-term capital gain, you’re going to be taxed somewhere between 15 and 20 percent on the high end. So, that’s kind of a disadvantage for gold.” 

    Source – KOLR Springfield

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    Gold falls, trade war fears continue

    ByVictoria
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    Spot gold fell 0.6% to $2,934.99 an ounce as of 09:55 a.m. (1455 GMT), after reaching $2,956.15 on Monday.

    U.S. gold futures declined 0.5% to $2,948.60.

    Trump said on Monday that tariffs on Canadian and Mexican imports were “on time and on schedule”

    “I still think that there’s enough uncertainty out there associated with tariffs (and) trade more generally… dips are going to continue to be viewed as buying opportunities,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver shed 1.2% to $31.96 an ounce, platinum dropped 0.8% to $959.35 and palladium lost 0.8% to $932.50.

    Source – Reuters