Precious metals news

David Rosenberg, the founder and president of Rosenberg Research, forecasts a significant rise in gold prices, potentially reaching $3,000 or more. Despite gold facing a potential loss in its current session, Rosenberg's optimism is not solely based on the Federal Reserve's actions. He points to a combination of factors fueling this upward trend: an upcoming easing cycle, global economic growth weakening, and inflation nearing the end of its decline. Rosenberg believes these elements will serve as strong tailwinds, propelling gold to new heights in the near future.

Analyzing gold from both a price and time perspective, the folks at InvestingHaven anticipate the upward trend to persist within the current 3-month cycle, likely peaking around mid-May. The analysis suggests a strong possibility for gold to reach or even surpass $2,500 by May, although it may not sustain this level on a 5 to 8 day closing basis. This projection is based on the current patterns observed in gold's price chart, indicating a continuation of the rally until at least May 2024.

Pandora, the renowned jewellery brand, has announced a shift to exclusively using recycled silver and gold in its products, aiming to significantly lessen its environmental impact. This move is primarily driven by the desire to cut down on greenhouse gas emissions, as mining for new precious metals is far more energy-intensive and resource-demanding than recycling. The company highlights that recycled silver has only one-third the carbon footprint of newly mined silver, and recycled gold produces less than 1% of the emissions compared to mining new gold. By making this change, Pandora expects to reduce its carbon emissions by around 58,000 tons annually, which is comparable to the yearly electricity use of 11,000 homes or the emissions from 6,000 cars traveling around the world.

Chinese Gen Zers are turning to gold as an investment as global prices spike. But they’re not just looking for the usual necklaces and bracelets.

Hedge fund manager David Einhorn, speaking at the Sohn Investment Conference in New York, expressed his view that inflation is picking up pace again, contrary to what many investors might think. Citing recent U.S. data, including a 2.8% rise in the core personal consumption expenditures price index for February—which overshoots the Federal Reserve's 2% target—Einhorn argues that reducing inflation will be more challenging than anticipated. Despite expectations, he predicts the Federal Reserve might enact fewer than three interest rate cuts this year, if any at all. Given these inflation concerns, Einhorn has significantly increased his investment in gold.

In Thursday's late-afternoon trading, the entire S&P 500 index faced declines, notably led by a 1.5% drop in the information technology sector. Other key sectors, including healthcare, financials, communication services, materials, and industrials, also fell sharply by over 1%. Overall, the U.S. stock market saw significant downturns: the S&P 500 dropped by 1.2%, the Dow Jones Industrial Average by 1.4%, and the Nasdaq Composite by 1.3%, as per the latest FactSet data.

The connection between shares in Chinese tech giant Alibaba and gold may not be immediately obvious, but an article from Barron's suggests the two could be interlinked. Alibaba, a leading Chinese tech firm, has experienced a sharp decline in its stock value, losing over 75% since late 2020, amid regulatory pressures and China's economic slowdown. This downtrend contrasts starkly with the surge in gold prices, which have reached record highs above $2,300 per troy ounce, marking a 12% increase this year alone. This situation highlights the debate over the potential of Chinese stocks to recover and the role of gold as a safe haven for investors during times of uncertainty.

In 2024, gold prices have been on the rise, driven by increasing investor interest in the commodity amidst a volatile global environment marked by geopolitical tensions and predictions of sustained high interest rates by the Federal Reserve. State Street Global Advisors' Chief Gold Strategist, George Milling-Stanley, highlighted that historical patterns show gold thrives in such turbulent times. He also noted the broadening appeal of gold to investors, suggesting a strong performance outlook for the metal, potentially reaching up to $2,400.

The strong US dollar is challenging economies worldwide, compelling central banks and governments to take measures to protect their currencies. As the US economy's resilience delays anticipated interest rate cuts, the dollar has risen against almost all major currencies in 2024, surprising many analysts. Japan has hinted at possible interventions to support the yen, which is near a 34-year low, while Turkey unexpectedly raised interest rates to strengthen the lira. Other countries like China, Indonesia, Sweden, and India are also taking steps to stabilize their currencies.

Gold passed $2,300 per ounce briefly earlier today, fueled by anticipation of a U.S. interest rate cut. Meanwhile, silver climbed 4% to close at $27.18 an ounce, the highest since June 2021.

Gold prices soared to a new peak, surpassing $2,300 per ounce, fueled by anticipation of a U.S. interest rate cut. This optimism was kindled by Federal Reserve Chair Jerome Powell's remarks, indicating that recent positive economic data hasn't altered the Fed's monetary policy outlook. Although spot gold slightly dipped to $2,287.88 after reaching a record $2,304.09, the surge underscores investors' growing confidence in gold as a safe haven amid monetary easing expectations.

Is Bitcoin truly the digital gold of the 21st century, or is it a fleeting mirage in the investment desert?

While demand for silver bullion continues to be very weak, the long-awaited Silver Breakout finally occurred.  So what's next?  It was surprising to see how quickly the Silver price hit $27, but what happens when it reaches the next important level? IMPORTANT UPDATE:  Due to visiting and assisting a very...

JPMorgan suggests that the anticipated U.S. recession might be postponed until 2025, as indicated by stronger-than-expected manufacturing activity in March. The ISM manufacturing index, which measures the health of the manufacturing sector, rose above the pivotal 50-point mark for the first time since September 2022, signaling expansion and ending a 16-month period of decline. This resurgence in factory activity, driven by sustained demand for goods and a rebound in production, is seen by JPMorgan analysts Ellen Wang and Andrew Tyler as further proof of a global manufacturing recovery.

Nobel laureate economist Paul Krugman acknowledges that while the U.S. dollar's preeminent position as the primary global reserve currency won't last indefinitely, concerns about its imminent replacement are overstated. Currently, there are no viable alternatives to the dollar, which sustains its dominance in the financial markets. The speculation about rapid de-dollarization, according to Krugman, is largely exaggerated, as the greenback continues to be the preferred currency due to the lack of comparable options.

Federal Reserve officials, typically seen as having different views on monetary policy, agree that three interest rate cuts this year would be reasonable. Despite stronger economic data casting doubt on such moves among investors, Cleveland Fed President Loretta Mester and San Francisco Fed President Mary Daly support the idea, following their votes to maintain rates between 5.25%-5.5% to control inflation. Daly notes that there is no rush to adjust rates given the current state of the economy, with inflation gradually declining, and persistent strength in the labor market and overall growth. Fed projections from March indicate a consensus towards three rate cuts, although nearly half of the officials anticipate two or fewer reductions this year.

This week Peter returned from vacation, and he was just in time for a surge in the price of gold. He discusses the factors contributing to gold’s record prices, the similarities between today and the 1970s, and data pointing to future inflation in America.

Even the mainstream is starting to acknowledge the massive problem of vacant office buildings littering American cities, slowly turning them into post-Covid wastelands. While a few pundits are claiming (in somewhat Orwellian fashion) that the surge in empty commercial real estate is actually a chance for a utopian turnaround in the ashes of Covid weirdness, the potential for an “Urban Doop Loop” triggered by CRE is now being widely acknowledged as a possible trigger for a broader economic meltdown.

Join Mike Maloney and Tavi Costa from Crescat Capital as they delve into the silver market’s explosive breakout and its implications for investors.

Gold prices have surged to a record high, marking their seventh consecutive day of gains and defying the broader market slump. On Wednesday, continuous-contract gold futures rose by 0.5%, reaching an all-time peak of $2,308.80 per troy ounce. This year alone, gold has climbed 10.5%, with a 3.5% increase over just the past five days, contrasting sharply with declines in the stock and bond markets where indices like the Dow Jones and S&P 500 have retreated from their peaks. Analyst Achilleas Georgolopoulos from XM highlights gold's "unprecedented strength," noting its ability to rally under various market conditions, including those that would typically hinder its performance. This phenomenon raises concerns among some analysts, suggesting caution after such an extended period of gains.