Gold mining companies have tracked the price of the yellow metal lower over the past two weeks after risk-on assets received a double-dose boost of positive vaccine news from Pfizer Inc. ( PFE ) and Moderna, Inc. ( MRNA ). However, as COVID-19 infections continue to rise and the complexities of administering a shot to large portions of the population begin to surface, investors may once again turn to the safety of gold to hedge against a winter of uncertainty. Gold mining exchange-traded funds (ETFs) offer a hedge against uncertainty about the rollout of COVID-19 vaccines.

The VanEck Vectors Gold Miners ETF ( GDX ) has oscillated within a descending channel over the past four months to establish clear support and resistance areas.

The VanEck Vectors Junior Gold Miners ETF ( GDXJ ) finds a confluence of support from the lower trendline of a descending channel and the 200-day […]

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Gold slips early Thursday A stronger greenback can influence trading in assets pegged to the monetary unit, making prices of assets like gold relatively more expensive to those using other currencies.

But some commodity experts say that gold’s inability to gather momentum substantially this week, even as the dollar has weakened, signals that the path higher for bullion may be eroding.

“ In terms of gold prices, we see more selloff for the precious metal. This comes at a time when the dollar index is already quite weak. This shows that investors have started to move away from safe-haven assets, and they are more motivated to deploy their capital in riskier assets,” said Naeem Aslam, chief market analyst at AvaTrade in a research note.

On Thursday. December gold GCZ20, -0.83% was trading $23.40, or 1.3%, lower at $1,850.70 an ounce, following a 0.6% decline. Gold prices were headed for its lowest intraday […]

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( Kitco News ) – The gold market continues to hold on to critical support above $1,850 an ounce, but shifting investor sentiment following positive vaccine news in the last two weeks created significant pressure for the precious metal. However, one European precious metals firm does not expect a vaccine for the COVID-19 virus to significantly change the course of the global economy.

"No doubt, there is a great deal of uncertainty about the future course of the world’s economic and financial developments. However, it appears that the savvy investor has quite some reason to expect that interest rates will remain very low in the foreseeable future, simply because overall indebtedness has become too high. Central banks are […]

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( Kitco News ) – The U.S. housing market continues to be a bright spot in the U.S. economy as more consumers are buying homes according to the latest data from the National Association of Realtors (NAR).

Thursday, the NAR said Existing home sales increased 4.3%% last month to a seasonally adjusted and annualized rate of 6.85 million units, compared to September’s annualized rate of 6.54 million homes. Economists were expecting to see a sales rate of 6.45 million homes.

For the year home sales are up a whopping 26.6%, the report said."Considering that we remain in a period of stubbornly high unemployment relative to pre-pandemic levels, the housing sector has performed remarkably well this year," said Lawrence Yun, […]

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Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) A significant wave of selling in gold-backed exchange-traded funds (ETF) has been weighing on the precious metal, which continued to lose ground Thursday.

At the time of writing, December Comex gold futures were down nearly 1% on the day and trading at $1,857.20 an ounce.

"Gold came under pressure once again yesterday evening after having previously recouped earlier losses. This morning sees it trading at only $1,860 per troy ounce. Massive ETF selling is continuing to weigh on gold: gold ETFs tracked by Bloomberg registered further outflows of 10 tons yesterday," said Commerzbank analyst Carsten Fritsch.

Risk-on sentiment has been encouraging the ETF outflows, noted BMO Capital Markets commodities analyst Colin Hamilton."Gold ETF holdings continue to fall as potential vaccines […]

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Bitcoin could reach over $300K by end of 2021: INX Limited CMO INX Limited CMO Douglas Borthwick discusses the future of Bitcoin. The recent surge in bitcoin ’s price has created some new believers, but the cryptocurrency will never supplant gold as a store of value or medium of exchange, some Wall Street investors say.

The cryptocurrency’s price has soared more than 70% over the past six weeks to more than $18,000 a coin and is 11% below its all-time peak of $20,089 an ounce. At the same time, gold’s price has traded in a tight range between $1,850 and $1,950 an ounce.

“To try to act like bitcoin is some kind of improved version of gold, it’s going to disrupt gold because it’s a better store of value, it’s a better medium of exchange, all that is pure nonsense,” said Peter Schiff, CEO of Westport, Conn.-based Euro Pacific Capital. “It’s […]

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(KVOA) – The Better Business Bureau (BBB) said that many people think selling gold is a common way to bring in quick cash but figuring out the right time to sell gold can be both a personal and financial decision. Regardless of your motivation, there are several factors the BBB recommended people consider when looking to sell gold pieces. Choose items wisely. Don’t be in a rush to sell. After picking out your potential items, wait a few days to re-evaluate your decision. Selling items that are mismatched, have broken pieces, or outdated items are a great start. Also, consider items that have no/low emotional attachment.

Know your items. It is rare to have items made of 24-karat gold, the maximum karat reading, as it too soft for use in most jewelry. In the U.S., most jewelry is either 10-, 14- or 18-karat gold. Jewelry stamped with a “GP” […]

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Today, Nov. 19th, the United States Mint introduces its 2020-W $50 Uncirculated American Gold Eagle and offers it for sale to the public at noon ET. Each uncirculated Gold Eagle is encapsulated for protection and mounted in a burgundy presentation case. A U.S. Mint Certificate of Authenticity is also included. The 7,000-limited gold piece is the last in the series to showcase the inaugural reverse design which first appeared in 1986. The coin is struck in 22-karat gold and features an uncirculated collector grade finish created by using burnished coin blanks and special coin dies.

American Gold Eagles debuted more than three decades ago. Originally available in bullion and proof versions, this uncirculated variety was added in 2006. All have born the same basic designs.

Coin Designs

Found on coin obverses (heads side) is Augustus Saint-Gaudens’ full-length figure of Liberty. She is shown with flowing hair and holding a torch […]

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Gold prices continue to trade sideways edging slightly lower on Thursday. The US dollar moved lower but this failed to buoy the yellow metal. Gold implied volatility climbed for the first time in near 2-months as investors might be getting concerned about the sideways gold price action. Implied volatility measures how much options traders believe the markets will move on an annualized basis. US existing home sales rose for a 5 th straight month but failed to buoy US yields.

Trade gold with FXTM Technical analysis

Gold prices edged lower sandwiched between resistance near the 10-day moving average at 1,882. The weekly chart of gold is forming a bull flag continuation pattern which is a pause that refreshes higher. Support is seen near the October lows at 1,850. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal. Medium-term momentum is neutral to negative as the […]

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Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – The gold market continues to struggle below $1,900 an ounce, and although time is running out for the market to hit $2,000 an ounce by year-end, one mining executive said that it is more important to look at the long-term trend rather than any short-term target.

In a telephone interview with Kitco News, Randy Smallwood, president and CEO of Wheaton Precious Metals, said it is difficult for him to see a scenario where gold prices go materially lower.

Although investor optimism has picked up following positive news regarding potential vaccines for the COVID0-19 virus, Smallwood said more stimulus is needed to undo the damage that has already been inflicted on the global economy.

"We are looking at a tough […]

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Bullion coins and bars are the "purest" way to invest in gold, but can be costly to own and slow to sell. lionvision/Getty Images Physical gold can be bought for investment in two basic ways: bullion bars or coins.

Buying physical gold involves researching reputable dealers, understanding pricing, and shouldering storage costs.

Alternatives to physical gold include gold stocks and funds — less "pure," but more liquid, investments.

Visit Business Insider’s Investing Reference library for more stories . You often hear folks talk about investing in gold . Which begs the question: Exactly how do you buy gold? And perhaps more importantly, why would anyone want to?The short answer is that gold can be a smart way to diversify a portfolio — especially one filled with the usual investment suspects: stocks, bonds, and funds.Not only is gold largely immune to inflation, instead hewing closely to the cost of […]

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Baker Steel’s shares have been rising steadily over the past five years “At the beginning of the COVID crisis we decided that we should put some more money into precious metals,” says Trevor Steel of Baker Steel Resources Trust Ltd ( LON:BSRT ).

Back then that was a bolder decision than hindsight makes it seem now. But sometimes you just need to hold your nerve.

Baker Steel had ready cash to hand, and new stakes were acquired in several major gold and silver companies.

“It was quite well timed,” says Steel simply. “We continue to hold these companies in our portfolio, and they account for around five or six per cent of the fund.”But they do more than that: they also help underpin the market’s confidence in Baker Steel as a steady hand in troubled times.It’s no coincidence that although Baker Steel’s share price took a hit in March during the worst […]

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LONDON (Reuters) – The flow of gold from east to west triggered by the coronavirus pandemic eased in October as Switzerland’s imports of bullion from Asia fell and it exported more to India than in any month since May 2019, Swiss customs data showed on Thursday.

Switzerland’s exports of gold to China remained at rock bottom, however, suggesting that demand in Asia is far from a full recovery.

Switzerland is the world’s biggest gold refining centre and a transit hub, and its trade data illustrate global market trends.

China and India, the biggest jewellery markets, have for years been its biggest export destinations.But coronavirus lockdowns collapsed demand and Switzerland began instead to import gold from Asia to send to the United States and Britain, where investors stockpiled bullion to keep their wealth safe through the turmoil of the pandemic.Swiss gold exports https://fingfx.thomsonreuters.com/gfx/ce/xegpbqlwdvq/SWISS%20GOLD%20EXPORTS%20OCT.JPG This stockpiling pushed gold prices to record highs around […]

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The yellow metal was down at the fourth trading session in London. The selling pressure seen lately in the gold market is coming on macros revealing Pfizer’s safety data to advance its COVID-19 vaccine to the U.S. Food and Drug Administration for approval, coupled with the U.S dollar rebounding up.

At about 6.15 am West African time, Gold futures lost about 0.41% to trade at $1866.20/ounce.

What this means

The rebound seen lately in the U.S dollar has helped diminish appetite for the precious metal with the U.S dollar rising, as global investors move from stocks to the more risk-averse asset. A stronger U.S dollar makes the yellow metal more expensive for holders in other major currencies.Adding more woes to gold bulls include reports from Pfizer/BioNTechvaccine team that they have enough safety data to advance their COVID-19 vaccine candidate to the U.S. Food and Drug Administration for approval within days. […]

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Crude inventories saves oil’s blushes

Oil would probably have finished the overnight session lower as well but can thank a lower than expected rise in official US Crude Inventories . The 768,000-barrel print was well below market expectations of a 1.65-million-barrel increase. That was enough to lift Brent crude and WTI to a positive close. Brent crude rose 0.78% to USD44.15 a barrel. WTI finishing 0.56% higher at USD41.60 a barrel.

Both contracts have eased by 10 cents in Asian trading, in line with a slightly stronger US dollar today in Asia. Trading remains directionless for the most part, though, with both contracts content to consolidate their recent monthly gains near to the top of their current ranges.

OPEC’s meeting at the end of the month looms as the next major risk event for oil. More positive vaccine news will probably lift prices again, but after Moderna’s announcement, seem to be […]

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Jewellery retailers have reopened all their showrooms and footfalls across stores have improved in the last 2-3 months despite the continuing pandemic-related uncertainties. The coronavirus pandemic has further enhanced consumers’ interest in online shopping across various product categories; however, the retail jewellery market is still being driven by the touch-and-feel factor. While online sales have increased, its share of revenues remains insignificant at less than 5 per cent in the retail jewellery market, said a report by rating agency ICRA. Unlike other retail products, customers prefer to see jewellery designs in person as the touch-and-feel factor took prevalence, the report added. The survey conducted to assess the impact of Covid-19 on business, consumer sentiments post-lockdown, and their expectations on gold prices, festive / wedding demand, etc post-lockdown revealed that retailers have reopened all their showrooms and footfalls across stores have improved in the last 2-3 months despite the continuing […]

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Traders remain nervous as two starkly different narratives on the coronavirus continue to play out, keeping the sentiment around gold (XAU/USD) undermined. The risk sentiment seesaws amid the covid vaccine optimism and rapid rise in infections and new shutdowns in the US.

Meanwhile, if the risk aversion deepens amid resurfacing global economic concerns over the covid growth, the safe-haven US dollar is likely to draw bids and weigh negatively on gold. Let’s see if the charts also back gold’s bearish narrative?

Gold: Key resistances and supports

The Technical Confluences Indicator shows that the XAU/USD pair remains exposed to the additional downside amid a lack of health support levels.Therefore, the next relevant cushion for the gold bulls is seen at $1860, the previous month low.A failure to defend the latter could threaten the critical support at $1849, which is the convergence of the September low and pivot point one-month R1.Alternatively, the […]

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Tuesday, gold had a volatile session, swinging from $10 higher to $10 and then lower, closing around the midrange. Gold has been in a downtrend for months and finally looks to be totally breaking down. This morning about 3:00 am EST, gold suddenly fell about $12. That by itself is not proof; however, it looks like the start of a much bigger down move.

Silver, in the same downtrend, has not met the same fate as gold; however, that could be just around the corner. Silver has held up better than gold, but that could be changing this morning as well. We remain short and will stay there until the algorithm changes. For now, that day appears a long way away. Remember, conditions can change at any time without warning.

Platinum has begun moving in the exact opposite direction. The price action looks like gold and silver turned upside down. We […]

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* Curbs tighten in many U.S. Midwest states after virus cases rise * Interactive graphic tracking global spread of coronavirus: tmsnrt.rs/3mvcUoa (Adds comments, updates prices) By Eileen Soreng Nov 11 (Reuters) – Gold edged up on Wednesday, buoyed by a softer dollar as investors weighed the logistical challenges surrounding the mass roll-out of a potential COVID-19 vaccine, with a surge in new infections boosting bets of further economic support. Spot gold rose 0.1% to $1,878.54 per ounce by 0721 GMT. U.S. gold futures were little changed at $1,876.40. The dollar index was down 0.1%, making gold more attractive to holders of other currencies. "Coronavirus cases continue to rise in U.S. and Europe and we will require further monetary and fiscal measures… In that sense, the overall backdrop for gold has not turned negative," said Harshal Barot, senior research consultant for South Asia at Metals Focus. "But since risk sentiment […]

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Gold faces an uphill task in its recovery from the $1850 support area.

Rising covid cases overshadow vaccine optimism, boost stimulus hopes.

Downside more compelling while XAU/USD stays below $1900.

Gold’s (XAU/USD) rebound from six-week lows of $1850 faltered near the $1891 barrier on Tuesday, although the spot managed to hold on to the recovery gains. The bright metal settled the day around $1878 levels. Pfizer Inc’s vaccine progress led euphoria in the global markets subsided, as investors re-thought about its implications on the global economic recovery and prospects for further stimulus, limiting the downside in gold. However, the US dollar remained relatively stronger amid mixed sentiment on Wall Street, which capped the gains in XAU/USD.Amid a partial US market holiday this Wednesday, gold wavers in familiar ranges below the $1891 critical resistance, underpinned by renewed hopes of additional fiscal and monetary policy stimulus to spur […]

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