Gold prices holding gains but lacks bullish momentum as ISM Manufacturing Index drops to 47.8 – KITCO
(Kitco News) – The gold market continues to rally above $2,050 an ounce, but there is no noticeable bullish momentum, even as U.S. manufacturing has lost further momentum since the start of the year. On Friday, the Institute for Supply Management (ISM) announced that the manufacturing business index fell to 47.8% in February, compared to […]
Ignore gold and focus on silver as prices rally 7% from support – KITCO
(Kitco News) – Rising inflationary pressures are hitting the gold market. Despite the many criticisms leveled at the precious metal, it continues to have significant support, at least for now, according to some analysts. Gold ended its second week in negative territory, but entered the weekend well off its lows after holding a key support […]
'If you have the value, you will get the money' – mining sector better than it appears says Hoffmann – Kitco NEWS
(Kitco News) – Last year’s tough resource market wasn’t as bad as expected, Soar Financial CEO Kai Hoffman said. In mid-January, Hoffman recorded the Kitco Roundtable at the 2024 Vancouver Resource Investment Conference with Kitco correspondent Paul Harris and mining audience manager Michael McCrae. Mr. Hoffman also runs Oleink, which tracks resource financing. He pointed […]
Wall Street bets on lower gold prices, Main Street sees gains next week – Kitco NEWS
(Kitco News) – Last week, traders experienced one of the least eventful weeks for precious metals markets in months, but drama returned to the gold market this week, with big moves following important data and comments from the Federal Reserve. . Gold prices opened near $2,024 per ounce in the spot market on Sunday, moving […]
Market analysts and retail investors await Fed's direction on gold prices – Kitco NEWS
(Kitco News) – Gold prices moved in a narrow $10 range this week between $2,016 and $2,025, with little reaction to even the most important data releases and corporate earnings reports. Latest Kitco News Weekly Gold Survey shows institutional professionals and retail traders remain cautious, forecasting a pivotal week for central banks and employment data […]
'Do your homework and start allocating' – Ronald-Peter Stoeferle on resource upswing – Kitco NEWS
(Kitco News) – Gold will rise in 2024, but the rise will be gradual, said Ronald Peter Stoffel, Managing Partner of Incrementum AG. In mid-January, Stoeferle spoke with Kitco Mining at the 2024 Vancouver Resource Investment Conference. The precious metal hit an all-time high of $2,135 an ounce in December, but Stoffel said the Fed […]
Wall Street and Main Street get cold feet on gold prices – Kitco NEWS
(Kitco News) – Gold started the week on a high, trading around $2,050 an ounce, driven by safe-haven demand from Middle East conflicts and stubborn market sentiment that interest rates will be cut sooner. However, as the shortened holiday week progressed, hawkish central bank comments steadily declined and a lack of geopolitical energy stimulus dampened […]
Gold price up on safe-haven buying as Mid-East tensions rise – Kitco NEWS
(Kitco News) – Gold prices rose and silver prices edged higher in early U.S. trading on Thursday. Demand for safe havens is in the spotlight for the yellow metal as risk aversion increases later this week following escalating military action in the Middle East. February gold was last up $10.40 to $2,016.90. The March silver […]
Gold/Silver: It all comes down to the Flip of a Coin – Kitco NEWS
Precious metals are off to a rocky start in 2024 as the number of interest rate cuts by the US Federal Reserve (Fed) is called into question. The dollar index showed remarkable resilience, bouncing back from the 100 handle, its best start in nearly two decades. Inflation in the euro zone unexpectedly rebounded from 2.4% […]