Dollar Weakness Supported Gold Precious metals headed higher this week with gold hovering around $1,200. Dollar weakness supported gold prices, but gold stayed fairly quiet. Silver hovered around $14.50. Trade talk once again was a mover for both gold and the dollar. President Trump announced the possibility of new tariffs for China in the ever-escalating […]
Gold Prices are Rising Elsewhere than in the U.S. – Why? This week gold dipped under $1,200. Silver took a hit this week too. It dropped under $15, keeping the gold-silver ratio high. It was able to clamber back some gains by Friday and close up $10, but many investors are favoring treasuries as a […]
Gold to Silver Ratio Is Near 80, Signaling Time to Buy Silver Right now the gold to silver ratio is near 80 (hovering in the high 70s). Essentially, about 80 ounces of silver are equal in value to 1 ounce of gold. This is an unusually high ratio, and historically, it signals a buying opportunity […]
Trump vs. the Fed It was President Trump vs the Fed and chairman Jerome Powell this week. The President caused a stir when he questioned the Federal Reserve’s monetary policy. It was something of an unprecedented move. Since the Federal Reserve is independent and separate from the federal government, it broke the standard norm of […]
After Battling a Strengthening Dollar This Week, Gold Posted a Positive Week by Friday Metals were down in the early part of the week. However on Thursday it got a slight boost that it held onto through Friday. In the end gold posted a positive week despite the earlier losses. The dollar rallied this week […]
Gold Battled Headwinds Early in the week gold struggled against a rising dollar index. It managed to hold just above $1,300. Some muted geopolitical fears after North and South Korean peace talks continued to put the brakes on gold as well. There was also some sell-off, which pushed prices down further. On Wednesday though, gold prices […]
Gold Under Pressure from Rising Greenback This Week Precious metals were rallying early in the week, but faced some push back on Thursday. By Friday gold prices lifted again slightly and were sitting just over $1,320. Silver ended the week around $16.55. The resistance mid-week came from a rising dollar index. As it retreated again […]
The Price of Gold Relative to the Value of the Dollar – CHART This chart depicts the price of gold relative to the value of the dollar over the last 15 months. The price on the left is the movement in gold prices since January of last year until last month. The right side shows […]
Trade War Fears Spark Market Sell Off It was another dramatic week for the markets as the Dow fell over 700 points on Thursday due to trade war fears. In fact it was the worst week for stocks in over two years. President Trump announced the likelihood of tariffs on at least $50 billion worth […]
Mixed Week for Gold and the Markets Gold had an up and down week. It was under $1,320 to start out Monday, but during the week it rallied past $1,325. However on Friday it pulled back again to around $1,315. Silver followed a similar rise and fall pattern. The stock market was similarly choppy. It […]
Mixed Week for Gold Starts with Rally It was a mixed week for gold this week. Monday started out with gold continuing its upward move from last week and crossing $1,330 midweek. On Friday though it fell to just over $1,320. Silver also had a midweek spike. By Friday though, metals pulled back initially as […]
Possible Trade War? It’s Time to be Looking Back at the Smoot Hawley Act of 1930 History has a cyclical way of repeating itself, and looking back at the Smoot Hawley Act could provide some crucial lessons right now. The big news of the week for the economy was President Trump’s announcement that the U.S. […]
Russia Passes China in Gold Holdings as Gold Buying Goes Up Around the Globe The Russian central bank passed China last year in increasing gold holdings as gold buying goes up around the globe. Russia has been buying gold every month for almost three years, while China’s accrual has tapered off slightly. This past month, […]
Gold Was Up and Down This Past Week After previously being quiet, gold was up and down this past week. However by Friday it was on pace for its biggest weekly gain in two years. It started the week just under $1,320 and rallied to $1,350 on Wednesday. Friday opened with gold still over the […]
Stock Market Has One of the Worst Weeks since 2008, But Gold Remains Quiet For Now Volatility was the word of the week. The Volatility Index went as high as 40 points Friday before closing around 30 (last week it was around 17). The volatility in the stock markets is becoming more pronounced, especially following last […]
After a Volatile Week for Stocks, Gold Set To Move Higher? It was a volatile week for stocks all week with Friday marking the worst day this year for the markets. Friday saw the Dow Jones plunge nearly 700 points and it marked the biggest loss in 2 years for the Nasdaq. It was overall […]
The Dollar Hit a 3-Year Low, Boosting Gold Over $1,360 The recently falling dollar hit a 3-year low this week, and helped gold rally to its highest level in 17 months. The last time we saw gold prices reaching $1,360 was in August of 2016, and it looks like they will keep rising. Silver also […]
Investors Fleeing Bitcoin to Gold in Increasing Numbers Gold continued to hold strong above $1330 this week. There was some pull back midweek on profit taking, but by Friday it got another bump on news of a possible government shut down. While gold rose though, crytpocurrencies had another sharp drop off. This week bitcoin came […]
A Bearish Bond Market, Inflation, and Gold The “bond king”, Bill Gross, was on record this week saying that the bond market is falling. For the past 25 years the bond market has been on a roaring bull run, so there are significant implications to this turn. A bearish bond market, inflation, and gold – […]
Despite Stock Rally, Gold Kicked off 2018 above $1300 and Held on to Gains In contrast to last year, gold kicked off 2018 above $1300 and held on above $1310 for the first week of 2018. It continued its rally through trading on Friday to end the week just over $1,320. Gold just had its […]
Gold Will Continue Its climb in 2018, According to WGC The World Gold Council (WGC) released a report on Friday that predicts gold will continue its climb in 2018. This year it is up 9% and in 2016 it was up 8.5% for the year. This followed after three years of decline for gold. It […]
Fed Chief: Runaway National Debt Problem Should Keep Us Awake at Night It’s no secret that there is a runaway national debt problem in the U.S. The total national debt right now is about $20 trillion and rapidly rising. Federal Reserve chair Janet Yellen was recently on record of saying that she is worried about […]
Tax Reform and D.C. Drama Made for a Wild Week for Gold and the Markets It was a wild week for gold and the markets. The Dow went from breaking above 24,000 to falling over 350 points Friday. Gold also fluctuated rising to just under $1,300 at the start of the week to dropping below […]
Gold Broke Out Over Its 50-Day Moving Average This Week Closing out the week just over $1,290, gold broke out over its 50-day moving average this week. With gold making its second weekly gain, it was building on last week’s safe haven rally. It opened the week at $1,277. Silver opened at about $16.95 and […]
Political Developments Sparked a Gold Rally This Week Gold ended the week around $1,275 after climbing over $1,285 earlier in the week. Political developments sparked a gold rally that broke the rut that gold has been stuck in the last few weeks. Some of these political developments driving the rally were overseas, and some domestic. […]
October Spending Hit a Quarter of a Trillion Dollars The big story right now that no one is talking about is that October spending hit a quarter of a trillion dollars. October is generally considered a better month for the U.S. Treasury Department with the additional revenue of tax extension filers, but even with the […]
Dollar Index Drove Gold This Week While Treasuries Hit 5 Month High Building on recent strength, the dollar index drove gold down slightly this week. Gold prices hovered in the mid $1270 range all week. Silver started the week just short of $17 and closed lower at about $16.77. Stocks were up at the beginning […]
Gold In Holding Pattern During Quiet Week and Stock Market Highs Not much to report on precious metals after a quiet week and stock market highs keeping gold from moving up much. Starting the week, gold touched just above the $1,300 mark, but maintained roughly between $1,285 and $1,290 the rest of the week. The […]
Gold Was up This Week and Reached $1,300 Again After a couple weeks of resistance, gold was up this week and closed Friday just above the important $1,300 mark. Gold climbed steadily from the 4 week low it hit last week despite some slightly more positive global economic growth data. Geopolitics was a drive for […]
Complacency in the Markets Affecting Gold Negatively This Week The stock market continues to set new highs this week. As these records rack up, there is right now a great deal of complacency in the markets affecting gold. Gold fell slightly again this week under pressure from new stock market highs and interest rate talk. It […]
After an Initial Rally, What Weighed on Gold Prices This Week? Gold opened the week just over $1,300, but fell mid-week below $1,290. By Friday, gold had made back some of of those gains to close up. More bellicose rhetoric from North Korea sparked the initial flight to safety. So what weighed on gold prices? There […]
Gold Rally Met Resistance This Week and Prices Dipped – Buying Opportunity? A couple weeks ago gold hit a year high, but the gold rally met resistance this week and prices dipped. Gold fell most of the week, but was able to turn positive late Friday to close out the week just under $1,300. Silver […]
Metals Pull Back, but Gold Looks Poised for a Break Out After reaching $1,350 last week, gold hit some resistance this week, though it maintained its position over $1,350 to close out the week at approximately $1,325. However, gold looks poised for a break out for a few different reasons including an increasingly shaky dollar […]
A Plunging Dollar Sent Gold Higher This Week The recent metals rally continued this week as a plunging dollar sent gold higher. Gold opened after the long weekend just over $1,330 and by Friday had hit $1,350. There were many factors impacting the markets this week including the Democrats’ and Trump’s agreement on the debt […]
Gold Continues to Climb above the Crucial $1,300 Mark Reaching its highest level this year, it was another shining week for metals, as gold continues to climb above the crucial $1,300 mark. It opened the week around the $1,305 mark, and closed just over $1,320 to head into the long weekend. Fed comments, more North […]
Gold Chases Last Week’s Highs of $1,300 Last week gold hit $1,300 for the first time in 2017. Although it eased back slightly this week, still gold chases last week’s highs. Gold opened the week at $1,289 and closed at $1,290. Mid-week it climbed over the $1,290 mark to nearly reach $1,300 again. Political uncertainty […]
7 Week High for Gold This Week We had a 7 week high for gold this week. Although Friday saw some pull back on profit taking, it was still a good week for gold. Gold finished out the week just short of $1,260, but climbed as high as $1,270 mid-week. It was not such a […]
Shining Week for Gold as Dollar Index Is at Year Low The dollar index is at year low this week. The last time it was this low was June of last year, and it’s currently in a two week losing streak. Gold was up all week, and closed the week just shy of the $1,270 […]
Quiet Mid-Week, But Gold Added on Last Week’s Gains With a rally this week, gold added on last week’s gains. The week opened at $1,234 and closed at $1,253. Silver opened the week at $16.15 and closed at $16.54. Although metals were trading fairly quietly during the middle of the week due to lack of […]
A Cryptocurrency Backed By Gold? Sure Makes Sense, Doesn’t It? Cryptocurrencies like bitcoin have experienced massive rallies recently as a possible, alternative safe haven investment. Are Gold and Cryptocurrency forming a New Relationship? Naturally, a cryptocurrency such as Bitcoin brings inherit fears of instability and raises questions from investors. This being mainly because the “currency” […]
Gold Prices Are Down Right Now – It’s a Prime Time to Buy When metals are low, it’s a perfect time to buy, and gold prices are down right now. This could be an important, new price bottom before the next rally. If you have been waiting for the right moment to get in, this […]
How Are Global Tensions Going to Affect Gold? Gold had some pull back at the start of the week, but closed out the week making back some gains. However, going forward, there are global tensions going to affect gold, most likely. Although lately gold has at times been fairly quiet on the volatility trade, there […]
Gold Retreats after Fed Raises Rates a Quarter Point This week gold retreated from its rally following the Fed announcement Wednesday that lifted rates a quarter point. Gold still looks safe long term, however, and made back some small gains Friday as the dollar index experienced some weakening. The dollar index strengthened Wednesday following the […]
Gold Is at 7 Week High on Weak Dollar Index, Nearly Reaches $1300 This week, gold is at 7 week high on weak dollar index (among other driving factors). Gold prices started out the weak with a rally climbing over $1,290, however it pulled back some on Thursday and Friday. The dollar index was up […]
Arizona Authorizes Gold as Legal Tender as Alternate to Fiat Currency This fall, Arizona authorizes gold as legal tender with Governor Doug Ducey’s signing of House Bill 2014 this past week. The bill eliminates capital gains tax on gold and silver, which encourages its use as currency. Previous version of the bill passed the state […]
China Downgrade Worrying Investors As the Country’s Financial Strength in Question Gold had another strong week, and looks like it is moving out of its recent sluggishness. With Moody’s China downgrade worrying investors this week, the dollar continuing to show weakness, and a possible rate hike, gold is looking attractive and shows signs that it will […]
11 Straight Record Closes, But This Market is Overvalued Despite 11 straight record closes, investors are starting to worry the market is overvalued. Investor pessimism is rising as they start to fear a correction is coming. Friday marked the first record 11-day win streak for the Dow Jones since 1987. In 1987, the Dow Jones […]
Rising Inflation Will Boost Gold and Silver The current economic outlook is anticipating inflation in the not-so-distant future, and rising inflation will boost gold and silver prices. Consumer prices are up 0.6% in January and 2.5% over the last year. Price seem to be rising at the fastest pace in about six years. Rising inflation is to […]
Lessons from Hoover on Trade Policy: The Smoot-Hawley Tariff Act As the Trump administration starts enacting new policy, history can illuminate some valuable lessons from Hoover on trade policy and its implications. These implications could have especially relevant repercussions today. Trade has been an cornerstone of Trump’s campaign. This week he signed an executive order canceling the […]
Why Populism Will Be Biggest Driver of Markets According to the Largest Hedge Fund’s Manager Ray Dalio, founder of Bridgewater Associates (considered the world’s largest hedge fund), believes that populism will be biggest driver of markets and money in the future. Populism will be even more influential than monetary policy from the Federal Reserve and […]
Gold Has Hit the Low for 2017 and Is Set to Climb In December 2015, RME called the gold price bottom, and 2016 followed with a rally in metals. Once again, we are calling that gold has hit the low for 2017 already. In 2015 the price bottomed at $1,055. On January 3rd this year, gold […]
Gold Continues to Pull Back, but Has Positive Long Term Prospects Gold prices continued to show retreat this week. The stock market has been hitting “lifetime highs” for the past couple weeks with the Dow at nearly 20,000. The stock market experienced a sharp upswing after the election and has been hitting new highs every […]
RE-THINKING GOLD BUYING OPPORTUNITIES & TAKING ADVANTAGE OF CURRENT PRICE DIP Gold prices have been falling since Donald Trump’s election win, and as price dips, it is an optimal time for strategically re-thinking gold buying opportunities of the wealth preserving asset. Most analysts predicted that a Trump win would be positive for gold due to […]
Is the Correction Over? Gold Breaks $1300 This Week Gold prices broke through to $1300 this week for the first time in nearly a month signaling that the correction of the last few weeks could be over. It closed the week at a four week high after starting the current rally the previous week. The […]
Gold Set to Continue Gains in 2017 Precious metals have made tremendous moves this year, and gold is set to continue its gains in 2017. Even if the Federal Reserve decides to hike rates in December, the conditions are set to be favorable to gold. Gold prices have rallied over 19% this year. Global economic slowdown, […]
Why the Gold Bull Market Has Room to Run Yet The gold bull market is not over yet. It still has some room to run. Gold price climbed slowly, but steadily this week after pulling back last week. Gold and silver both have been keeping rather quiet the past two weeks, but this week they […]
Economic Slowdown in Asia Signals More Gold Buying Gold demand in the Asian markets is picking up after a slowdown last week when Chinese markets closed for a week of holidays. Markets are indicating that now may be the perfect time to buy gold. Demand for gold in Asia is on the rise, which will […]
Deutsche Bank Strikes Fears of Lehman Brothers Repeat Deutsche Bank sent liquidity fears through the markets on Thursday reminiscent of the lead-up to the 2008 crash. The bank’s stock fell to all-time lows on Thursday on liquidity concerns as large funds began to withdraw excess cash and positions at Deutsche Bank. The bank, which is […]
Massive Stock and Bond Sell Off Shake Markets on Interest Rate Prospect On Friday, the Dow and Nasdaq had their worst day since Brexit. The Dow was down nearly 400 points and had its third worst week overall year to date. An unexpected announcement from the Federal Reserve that hinted at an imminent interest rate hikes […]
Why is the Deutsche Bank Backing out on Promised Delivery of Gold? Is Gold Approaching a Short Squeeze? This week German gold buyers discovered that they could not receive delivery of the metals they had paid for. The bank in question – Deutsche Bank – is the chief bank of Germany. Investors had bought through the […]
Just Over 45 Years Ago the U.S. Left the Gold Standard – What Has Happened Since? We just passed the 45-year anniversary of fiat currency replacing gold. 45 years ago – August 15, 1971 – President Nixon declared the end of the United States’s decades long, gold backed monetary system and replaced it with the current […]
The Dollar and Gold in a Complicated Relationship Traditionally gold and the dollar have an inverse relationship. When the dollar is strong, gold is weaker. Alternatively, gold rises on a weak dollar. However, we are currently seeing a dollar enjoying relative strength while gold prices are simultaneously over 25% into the green for the year. […]
Silver Hits 21 Month High This Week As Gold Lifts Silver prices soared along with gold through the week. By Thursday silver was at $18.76 hitting its highest mark in almost two years. During the last half of the week, the stock market recovered some of its losses. Both global stocks and U.S. stock indexes […]
What the Brexit Vote Means for Gold, Stocks, Currencies, and Banks On Thursday, Britain voted by 51.9% majority to leave the European Union. By Friday morning, the global markets – mostly poised for a “Remain” vote – were in chaos as the Brexit spurred a massive sell-off. This is a monumental event of which the […]
3 Reasons Why Gold Prices Have Bright Outlook The “Brexit” The Federal Reserve’s decision on interest rates German and Japanese negative interest rates Right now, the potential Brexit and the Federal Reserve’s interest rate decision (see next section below) are two of the key drivers for gold’s rising price. A third, more long-term driver continues […]
Bleak Economic Jobs Data: U.S. Labor Force Adds Fewest Workers in Six Years The jobs data was more negative than even the most pessimistic growth projections, according to Bloomberg analysts. Average estimates put the number of jobs added to the U.S. labor force for May at 150,000. The reality was shockingly short at only 38,000 […]
[VIDEO] Leading Wall Street Analyst: Gold Will Hit $1900; Get In Now Market Analyst Peter Boockvar was interviewed on CNBC this week saying that gold is in the beginning of a new bull market. He believes many are reading the market wrong and that gold and silver still have a ways to climb. Boockvar said […]
The “Brexit” Politics and Their Impact on the Markets A few weeks ago we touched on the possibility of Great Britain voting to leave the European Union and what the impact of this move would be on gold and the markets. The referendum for the British exit – known most commonly as the “Brexit” – […]
Gold Enters a Bull Market, According to JP Morgan One of Wall Street’s largest institutions, JP Morgan Private Bank, is betting on the gold rally to continue. Solita Marcelli, the bank’s head of fixed incomes, commodities and currencies, holds the view that gold could hit at least $1400 per ounce by the end of the year. […]
Gold Price Hits $1,300 On Monday, gold spot price passed the $1300 mark for the first time in over a year. Gold is up now 22 percent for the year and is crushing stocks, bonds, and most other asset classes. Gold’s performance this year has been driven by a few different factors. The first was […]
Gold and Silver Prices Hit Highs Vs. Weak Dollar Gold hit a 15-month high on Friday as the dollar got crushed. Gold opened with its fourth consecutive day of gains and climbed as high as $1,292 per ounce. The shiny yellow metal is now up 20% since the first trading session in January and silver is […]
Gold Price Rises as Oil Price Falls after Doha Oil Negotiations Derail on Iranian-Saudi Tension The oil market endured a tense week as OPEC countries met for negotiations in Doha that ultimately broke down, causing oil prices to plummet. Rising tensions between regional rivals Saudi Arabia and Iran over output levels led to the demise […]