Gold Breaks Through $1,300 for the First Time in 2017 Gold had a volatile trading range of $1,283-$1,301 intraday on Friday, which was the first time this year that gold has broke the psychological resistance of $1,300. There has been some pull back since, as gold is currently sitting at around $1285 as of print. […]
Volatility Around North Korean Tension Spurred Gold This week, volatility around North Korean tension spurred gold into a rally. Gold opened the week at at $1257 and closed $30 higher. On Thursday it hit $1290. Silver also rallied, closing the week at $17.10. The news came out this week that North Korea has the capability […]
Current Silver to Gold Ratio Represents Prime Buying Opportunity The current silver to gold ratio represents a prime buying opportunity. The silver to gold ratio represents the amount of ounces of silver that equates in price to an ounce of gold. It normally sits around 80 to 1, but is at 75 to 1 right […]
As Metals Continue to Perform, These Are the Market Rallying Events to Watch for Gold Precious metals continued their winning streak this week, and there are several market rallying events to watch for gold over the next year. Gold rose above $1,290 an ounce this week before pulling back slightly towards the end of the […]
Gold Posts 10% Gains, 5-month High as Geopolitics Spark Flight to Safety and Gold Developments in geopolitics spark flight to safety and gold by investors this week. Gold has posted 10% gains for the year now. It broke out Tuesday over $1,270, and by Wednesday, it had hit a 5-month high. It continued these gains […]
Gold Surges after Airstrikes in Syria by the U.S. Gold surges after airstrikes in Syria on Thursday night to end the week hitting the $1,270 mark on Friday. In retaliation for an alleged Syrian chemical attack on civilians last week near Idlib, the U.S. fired 59 Tomahawk cruise missiles at Shayrat Air Base late Thursday […]
3 Things That Will Fuel Gold Rally There are 3 things that will fuel gold rally that are abundantly transparent in the markets already. This week, gold continued its upward climb touching above $1,250. Take a look at what’s driving this rally. 1. Inflation Some analysts are predicting gold to soar to $1,500 soon as […]
Gold Reacted to the Fed Announcement on Interest Rates with Rally On Wednesday, gold reacted to the Fed announcement with a rally that broke over the $1220 mark by Friday. Janet Yellen announced – in a rather positive communiqué – that rates would go up a quarter point, and that we could anticipate a couple […]
President Trump Repeals Dodd Frank Regulations Triggering Stock Market Rally The Dow closed 187 points up on Friday settling just over 20,000. Investor confidence got a boost as President Trump repeals Dodd Frank regulations. Goldman Sachs and other banking institutions were once again the big winners (unsurprisingly). The boost came Friday afternoon after President Trump signed […]
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 Has Shining Week After Fed Decision Not to Hike Rates Gold and silver both ended the week on highs after the Fed announced its decision not to raise interest rates. The metals had their greatest weekly advance since July. Stocks and bonds initially rallied after the Thursday announcement as well, before they experienced pull […]
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. […]
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 […]
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. […]