Gold Breaks $2,000/oz and Surges to $2,042/oz – New All Time Record Nominal Highs ◆ Gold surged past the important $2,000/oz level to a new record high today due to concerns about the outlook for stocks, bonds and other assets in an increasingly vulnerable U.S. and global economy. ◆ Gold has surged to new record…
* Gold needs a period of consolidation -technical analysts * Silver rises to more than 7-year high By Eileen Soreng Aug 5 (Reuters) – Gold soared to a record high on Wednesday as a weakening dollar, falling returns on U.S. bonds and a break above historic resistance at $2,000 an ounce added momentum to buying…
Analysts at Citigroup have revised up their gold-price forecasts across the time horizons, given the latest relentless rise in the yellow metal to fresh record highs of $1981.34. Key quotes “Still further to go, short-term target $2,100, then $2,300 in 6 to 12 months.” “Prices seem biased to stay higher for longer, with 2019-2020 emerging…
The pullback is getting violent Gold has fallen to a low of $1,907 on the day as the sharp fall continues following futures touching over $2,000 earlier in the day. Meanwhile, silver is tailing off to a low of $22.32 or down by 9% after having touched just above $26 in Asian trading earlier. As…
(Bloomberg) — Investors continue to pile into gold as prices advanced for a fifth day, moving ever closer to the all-time high reached in 2011. A weaker dollar, negative real rates, worries over the economic cost of the pandemic and flaring political tensions have both gold and silver heading for their biggest annual gain in…
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