Gold got crushed in the post-election rally, but a little over five months into 2017, the yellow metal is up 10.5% — making it one of the best-performing assets of the year so far. While the outlook for the U.S. economy is more positive than it was 12 months ago, if we zoom out for a moment, the big picture “ain’t so rosy.” Gold has historically done well in times of uncertainty and panic… and…
Gold futures jumped briefly before settling down Wednesday afternoon, following the Federal Reserve’s decision to hike rates for the second time this year. The central bank last hiked its benchmark rate in March.
The Dow Jones Industrial Average is trading at all-time highs. The Nasdaq and the S&P 500 are similar. This begs many questions. Are the high stock prices supported by fundamentals or have they been levitated with “easy money”? Bubbles always collapse and prices crash. Stock indices are too high, but are they in historical bubble territory? What about gold, silver, real estate and bonds? Are they also in bubbles?
Gold prices on Tuesday headed for their highest finish since early November, with analysts pinning the gain in part on haven demand sparked by Mideast tensions. Gold for August delivery rose by $13.90, or 1.1%, to $1,296.60 an ounce. A settlement around this level would be the highest since Nov. 4, according to FactSet data. The metal is on pace for its third straight up session in a row.
Gold climbed sharply Friday, with prices set to settle around a six-week high, after a reading on U.S. job growth fell short of forecasts for a strong payrolls jump in May, casting some doubt on the pace of gold-negative U.S. interest-rate hikes this year. August gold was up $11, or 0.9%, to $1,281.10 an ounce. Prices, based on the most-active contracts, haven’t settled at a level this high since April 21, according to FactSet data….
New allegations questioning the executive branch of the government continue to threaten dollar strength and give gold support. Economic data on consumer spending, inflation and the labor market could serve or disserve gold this week depending on their implications. Because of all the noise at play for metals this week, it is foolish to place short-term bets ahead of any indication of what factors will play most heavily. We continue to favor gold for the…
Metals trade at highest level of the month on geopolitical uncertainty Gold on Friday traded at their highest level of the month, setting prices up for a third weekly gain in a row as a fresh round of geopolitical jitters offset expectations for higher interest rates, which would otherwise be bearish for gold prices. Investors were watching North Korea, this weekend’s Group of Seven meeting, the coming U.K. elections, and the Trump administration, helping to…
Arizona governor Doug Ducey greenlighted House Bill 2014, removing income tax from certain precious metals at the state level. Phoenix, Arizona – Sound money advocates rejoiced yesterday as House Bill 2014 became the law in Arizona. HB 2014, which passed in the Arizona state Senate on May 10th by a margin of 16–13, removed all income taxation of precious metals coins at the state level.
Spot gold expected to test resistance at $1,255/oz Palladium on track for worst weekly fall since late January Platinum, silver heading for biggest weekly gain in five weeks Gold prices edged up on Friday and were on track for their biggest weekly gain since mid-April as the dollar eased amid lingering political turbulence in the United States.
Gold prices extended gains for a fourth day on Tuesday as political troubles in the US dented the dollar, while a more upbeat scenario in Europe lifted the euro. “The dollar is weak today, which has helped precious metals across the board,” said Carsten Menke, analyst at Julius Baer in Zurich, adding the move in the greenback was a combination of events in the US and Europe.