Gold tests historic highs as the strong rally continues.
A move above the $2850 level will open the way to the test of the $2900 level.
In case silver stays above the $32.00 level, it will head towards the next resistance at $32.75 – $33.00.
In case platinum settles back above the $1000 level, it will move towards the resistance level at $1025 – $1030.
Source – FXEMPIRE
“I think that given the setup right now, we have decent odds of returning probably — possibly — somewhere to that US$35 level before the middle of the year, and before we reach the end of this year we could probably touch potentially US$40 in silver,” he told the Investing News Network.
Peter Krauth is the editor of Silver Stock Investor.
Source – Investing News Network
Gold prices experienced a modest uptick on Monday, rising 0.1 percent to $3,040.57 per ounce. Spot gold rose 0.1 percent to $3,040.57 an ounce as of 7:39 a.m. ET, rebounding after dipping to a session low of $2,971.09 earlier, when some investors sold off bullion to offset losses elsewhere, Reutersreported.
The imposition of the tariffs has intensified fears of a global recession. Investors are increasingly seeking safe-haven assets like gold to hedge against potential economic downturns. However, the recent sell-off in gold suggests that investors may be liquidating positions to cover losses in other markets, reflecting concerns over the widespread impact of a trade war.
“Once the dust settles, the rising recession risks, a weaker dollar, lower real yields and bigger rate cut expectations will all play their part in supporting a rebound….
“Gold’s correction remains a relatively shallow one with key support levels holding.” said Ole Hansen, head of commodity strategy at Saxo Bank
Source – Reuters
New Delhi, Jan 29 (PTI) Silver prices on Wednesday marginally rose Rs 6 to Rs 91,057 per kilogram as participants increased their bets.
Globally, silver was trading 0.14 per cent lower at USD 30.37 per ounce in New York.
Source – Press Trust of India
“This we hope will be reality in a three to five year period,” PolyMet’s Warren Hudelson told MPR News in 2004.
Now, 20 years later, the controversial mine in northeast Minnesota still hasn’t opened. It hasn’t even begun construction, because three key permits it needs to advance — approvals state and federal agencies granted more than five years ago — have since been revoked or suspended.
Source – MPRnews
Shares in the gold miner are currently swapping hands at $76.60 apiece, more than 2% higher from the open as investors process the numbers.
2024 was a transformational year for Newmont, as we focused on the integration of the Newcrest portfolio, divestment of our non-core assets, and transitioning the business onto a stable operating and investment platform.
We have deliberately streamlined Newmont into the world’s best collection of Tier 1 gold assets, with a strong foundation of operational and financial performance. Our record fourth quarter gave a glimpse into the promising potential of the business and allowed Newmont to deliver record operating cash flows.
Source – The Motley Fool
New Delhi, Jul 10 (PTI) Gold Exchange Traded Fund (ETF) attracted a net sum of Rs 2,081 crore in June, making it the highest monthly inflow in five months, driven by resilient prices of the yellow metal, geopolitical uncertainties and volatility in equity markets.
“The robust inflows in June indicate a decisive shift in sentiment, likely supported by resilient gold prices, geopolitical uncertainties, and volatility in equity and fixed income markets, which have revived gold’s appeal as a safe-haven asset,” Nehal Meshram, Senior Analyst-Manager Research, Morningstar Investment Research India, said.
In June, two new Gold ETFs were launched, collectively mobilising Rs 41 crore.
“While the fund mobilisation through new launches remained modest, it adds to the broader recovery in flows and reflects steady investor interest in the asset class,” Meshram said.
Source – rediff
