Summary

Equity markets rallied strongly ignoring rapidly deteriorating fundamentals, and gold slumped on a minor recovery in the dollar’s trade weighted index.

It is a common misconception among monetarists that the relationship between the quantity of money and its purchasing power is the only determinant of the relationship.

It is impossible to forecast when the collapse of the fiat currency will happen, other than to note the factors involved.A considered reflection of current events leads to only one conclusion, and that is accelerating inflation of the dollar’s money supply is firmly on the path to destroying the dollar’s purchasing power – completely.This article looks at the theoretical and empirical evidence from previous fiat money collapses in order to impart the knowledge necessary for individuals to seek early protection from an annihilation of fiat currencies. It assesses the likely speed of the collapse of fiat money and debates the future of money in […]

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Nov 9 (Reuters) – Gold prices edged higher in early Asian trade on Monday, propped up by a weaker dollar and hopes of more stimulus measures under U.S. President-elect Joe Biden. FUNDAMENTALS * Spot gold rose 0.1% to $1,953.45 per ounce by 0049 GMT. On Friday it hit $1,960.13, the highest since Sept. 18. * U.S. gold futures rose 0.2% to $1,955.60 per ounce. * The dollar index was hovering near a more than two-month low. * Biden and his advisers are working on plans to tackle the crises facing a divided America, first and foremost the raging pandemic, a day after the Democrat won enough states to clinch the U.S. presidency. * A potentially divided U.S. government with Republicans in control of the Senate may mean a smaller fiscal stimulus package, but that could put the spotlight on the Federal Reserve to do more to revive the economy. […]

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Gold prices touched a one-week high on Monday as the dollar retreated while mounting US coronavirus cases fuelled concerns over the pandemic’s impact on economic recovery, underpinning hopes of further monetary stimulus.

Spot gold rose 0.2 percent to $1,892.15 per ounce by 0540 GMT, after hitting its highest level since November 9 at $1,898.81 earlier in the session.

The US gold futures were up 0.3 percent at $1,892.20.

The dollar index hit a one-week trough, making bullion cheaper for holders of other currencies.Coronavirus cases crossed the 11-million mark in the United States on Sunday, while President-elect Joe Biden’s top advisers called for urgent action to address the crisis."There are still underlying problems in structural economies, with job creation being the biggest problem," said Stephen Innes, chief global market strategist at financial services firm Axi."Central banks are going to keep the markets flushed enough to bridge this gap between now and the vaccine."Germany’s […]

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Summary

With all the recent news regarding COVID-19 vaccines, and hopes for a speedy recovery in the economy, gold and gold-related stocks have fallen out of favor a bit.

In fact, gold has corrected by around 11% from peak to trough in its slide from the recent ATHs reached in early August.

Not surprisingly, gold stocks have taken a beating, with the main "large cap" gold mining ETF GDX down by roughly 22% from peak to trough in the same time frame.However, markets may be somewhat confused regarding gold and gold miners right now.Why gold and gold miners are likely headed much higher over the next 1-2 years. Source With money flowing back into the stock market, COVID-19 vaccine developments, hopes for a speedy recovery in 2021, and other factors, gold as well as gold-related stocks have taken a beating in recent months. GOLD Source: StockCharts.com We can see that after gold’s […]

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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 rally in the stock market does not mean investors have forgotten their fear, which is why "gold’s story is not over yet," according to a report by RBC Capital Markets.

"After a precipitous vaccine news-driven decline, gold’s current price levels still leave unanswered questions," RBC’s commodity strategists wrote last week. "Despite seemingly buoyant markets, we do not think that investors have forgotten their fear; thus gold’s story is not yet over amid ongoing the economic, financial and political uncertainty.

Vaccine news does not automatically fix the economic downturn the U.S. has seen this year. It does not solve all the other problems, including inflation and unemployment, the report noted.

"2020 has been a year of uncertainty, underscored by a […]

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Representative Image. Credit: Reuters Photo Gold prices rose marginally by Rs 3 to Rs 50,114 per 10 gram in the national capital on Tuesday amid choppy trade and rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 50,111 per 10 gram in the previous trade.

Silver prices jumped Rs 451 to Rs 62,023 per kilogram from Rs 61,572 per kilogram in the last trade.

"Spot gold prices for 24 carat in Delhi were trading marginally up by Rs 3 on choppy global gold prices and rupee depreciation. The spot rupee was trading around 12 paise weaker against the dollar for the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.In the global market, gold was trading slightly higher at $1,877 per ounce, while silver was quoting almost flat at USD 24.20 per ounce.Gold prices traded steady on Tuesday morning as investors turned their focus to broad market fundamentals […]

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Editor’s Note: The article was updated to reflect changes in prices. (Kitco News) Gold prices ticked up following worse-than-expected retail sales data from October.

U.S. retail sales rose 0.3% in October following a downwardly revised increase of 1.6% in September, according to the latest data from the U.S. Commerce Department. Economists were expecting to see an increase of 0.5% in last month’s headline number.

After the publication, December Comex gold futures edged up to daily highs, last trading at $1,890.90 down 0.16% on the day.One of the weakest parts of the retail report was purchases of clothing and sporting goods as both contracted 4.2% in October.Core sales, which strip out vehicle sales, advanced 0.2% last month versus the expected 0.6% […]

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NEW YORK, Nov. 17, 2020 /PRNewswire/ — Pfizer and BioNTech’s potential vaccine announcement may have knocked gold off of its high horse temporarily, but analysts say the lasting effects of the global health crisis and the timeline for a widely available vaccine will continue to support gold prices. Even if the virus goes away, the economic damage has already been done. Since the beginning of the pandemic, the Fed’s balance sheet has ballooned to over $27 trillion and is expected to continue growing as the virus rages on. The dip in gold prices hasn’t had a detrimental effect on gold stocks, with producer Barrick Gold (TSX:ABX) (NYSE: GOLD ) recently beating earnings per share (EPS) estimates by 48%. In Q3 2020, IAMGOLD Corporation (TSX:IMG) (NYSE: IAG ) experienced a 45% increase in operating cash flow quarter-over-quarter, while Agnico Eagle Mines Ltd. (TSX:AEM) (NYSE: AEM ) increased its dividend by […]

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An employee displays gold bars at a Korea Gold Exchange shop in Seoul Indeed, the global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 55 million on Tuesday, according to data aggregated by Johns Hopkins University , while the death toll rose above 1.3 million. In the past week, the U.S. has averaged 155,442 cases a day, up 82% from the average two weeks ago and cases are rising in 50 states and territories. There are currently a record of 73,014 COVID-19 patients in U.S. hospitals, according to the COVID Tracking Project, topping the previous record of 69,993 set a day ago.

The spread of the virus has limited the downside move for gold, even as a report on Monday confirmed success toward a vaccine to combat the deadly pathogen.

The latest news on Monday from Moderna indicated that its two-shot vaccine candidate so far in late-stage […]

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Representative Image. Gold inched lower on Tuesday as optimism over an effective Covid-19 vaccine offset concerns facing its eventual rollout, a subdued dollar and bets for further monetary support as infections surged in Europe and the United States.

Spot gold fell 0.1 per cent to $1,887.40 per ounce by 1156 GMT, but held in a tight $9 range. US gold futures eased 0.1 per cent to $1,886.20. "Gold is mirroring the reaction of really everybody watching the evolution of the vaccines," and the positive news is clearly keeping a cap on the gold market, said Robin Bhar, an independent analyst.

"But it’s still a long way to go" and long term factors, including likely inflation down the road, continue to be supportive for gold, Bhar added. Also stemming bullion’s downside, the dollar index was down 0.3 per cent. Gold shed as much as 1.3 per cent on Monday after Moderna said […]

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Gold markets did very little during the trading session on Tuesday, sitting around the $1885 level. This is an area that of course will continue to be interesting as we have seen the market bounce around here for the last couple of days. At this point in time, the $1900 level above is resistance and the 50 day EMA sitting there of course adds a bit to that opportunity as well. Because of this, I think it is only a matter of time before we test that area again, but if we break above it then that could be a nice buying opportunity. Gold Price Predictions Video 18.11.20

On the other hand, if we do pull back a bit from here then I think there is plenty of support near the $1850 level, an area that has been crucial for some time, and the beginning of massive support all […]

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( Kitco News ) – Gold and silver futures prices are slightly lower in quiet midday U.S. trading Tuesday. Trader and investor risk appetite is waning as the raging Covid-19 pandemic is taking a steady toll on marketplace psychology. However, such could not energize the gold and silver market bulls today. Nor could a lower U.S. dollar index today. December gold futures were last down $1.80 at $1,886.00 and December Comex silver was last down $0.172 at $24.635 an ounce.

Global stock markets were mixed overnight, while U.S. stock indexes are mixed to lower at midday. The Dow and S&P 500 stock indexes had re U.S. dollar index cord-high closes Monday. However, more and more U.S. states are […]

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This year’s Golden Goggles , slated for Tuesday, November 24th, will be a virtual event this year, but you can still feel a part of the action by bidding on one of the unique items up for auction by the USA Swimming Foundation .

The online auction opened yesterday, Monday, November 16th, and will close at noon Eastern on Wednesday, November 25th. All proceeds support the USA Swimming Foundation ‘s mission to save lives and build champions, so you really can’t go wrong trying to snag some of the swag that covers an array of interests and budgets.

To help you decide, here are my top 5 Golden Goggles Online Auction picks.

#1 Ryan Murphy Autographed Fan Package Bid at time of publishing – $125There are few swimmers more red hot at the moment than backstroker Ryan Murphy , with the Olympic gold medalist’s LA Current racing its way into the […]

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REUTERS/Ilya Naymushin Gold prices will break out of a tight trading range in 2021 as inflation worries stoke demand, Goldman Sachs analysts said in a note.

The bank holds a $2,300-per-ounce price target for the precious metal, implying a 22% rally from current levels over the next 12 months.

Though gold typically falls when long-term interest rates rise, the financial crisis disrupted the pattern and saw gold rise through 2012 as investors feared for strong inflation.

Goldman expects a similar trend to materialize next year as recovery from the coronavirus recession fuels higher price growth. Goldman Sachs expects gold to break out of its narrow trading range and soar through 2021 as the coronavirus recession gives way to higher inflation.Bullion has hovered around $1,900 per ounce after its summer rally to record highs fizzled out in August. US election uncertainty fueled a brief rally, but […]

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Philip Cheung for The New York Times

The sharp rise in gold prices this year has affected more than just investors looking for safer places than the stock market to stash their money.

Designers of demi-fine jewelry — the popular category designed for casual wear, and priced to encourage just modestly guilty shopping — are struggling with the increased cost , as are the retailers that carry their brands.

On Jan. 1, gold was priced at slightly less than $1,550 an ounce; by Oct. 1, it was hovering at $1,900 for the same amount. And prices have continued to fluctuate, including in the wake of the American presidential election. The change has been driven, as it often is during uneasy times, by the perceived security of investing in gold.“It does make a huge difference and we have to be incredibly conscious about it,” said Zoë Chicco, the founder and designer of her […]

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Picture used for illustrative purpose. File Gulf Today Report

Gold prices fell on Tuesday due to the market being hopeful after the announcement of a second COVID-19 vaccine.

Spot gold eased 0.1% to $1,886.17 per ounce by 0623 GMT, while US gold futures were down 0.2% at $1,884.50.

Gold fell as much as 1.3% after Moderna announced its coronavirus vaccine being 94.5% effective.Han Tan, FXTM market analyst said the prospect of a COVID-19 vaccine easing demand for gold. READ MORE European, Asian shares jump as China and Japan data gain momentum "The optimism over a COVID-19 vaccine is dampening demand for the precious metal," said FXTM market analyst Han Tan.He added that a stimulus fuelled US economy could advance gold but the availability of vaccine may boost the dollar thereby easing gold to sub -$1,850 levels.However, gold has increased by more than 24% this year due to the global stimulus injected […]

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Location map for new Lynnda Strip drill holes, Mother Lode Project, East Bullfrog Mining District, Nevada Lynnda Strip cross-section (4086940N) Lynnda Strip vein/stockwork zones: Upper Vein in hole ML20-169CT Lynnda Strip vein/stockwork zones, Lower Vein in hole ML20-167CT (red circle is visible gold) assays pending VANCOUVER, British Columbia, Nov. 17, 2020 (GLOBE NEWSWIRE) — Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, NASDAQ: KOR) announces it has received additional results from its new Lynnda Strip discovery east and west of the previously announced discovery hole ML20-168 (NR20-17: 106.7m @ 0.71g/t gold & 48.8m @ 0.90 g/t gold). The new oxide, vein intersections are within broad zones of lower-grade disseminated mineralization highlighted by an Upper Zone vein in hole ML20-170 (42.7m @ 2.06 g/t gold including 12.2m @ 4.88 g/t gold) and a Lower Zone vein in hole ML20-166 (33.5m @ 1.63 g/t gold including 7.6m @ 3.96 […]

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Normally, gold mining is a tough business…

First, you’ve got to find a deposit. Then you have to build a mine – something that’s labor- and capital-intensive. Then you’ve got to run the whole project to get the metal out of the ground.

After all that work, you get to sell the gold. But you don’t get to decide the price of your product. The market sets it, so you’re a "price taker."

If gold prices fall, tough luck. You get what you get.So the business involves lots of fixed costs, combined with a variable sales price. For investors, that means one thing: Gold miners give you massive amounts of leverage to the price of gold…Yesterday, I explained why gold prices could soar dramatically from here. And given that backdrop, it means gold miners could easily soar triple digits.Let me explain…When gold prices fall, gold miners can become worthless fast. But when […]

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Gold (XAU/USD) Analysis, Price and Chart

The latest upbeat vaccine news from Moderna has reinforced last week’s risk-on drive, boosting riskier and weighing on safe-haven alternatives. Monday’s risk move was not as sharp as last week’s strong momentum drive but it did underpin riskier assets at current levels and should continue to do so over the short-term. This positive vaccine news is now starting to drive the growth narrative and this can be seen in the US Treasury market with bond yields edging higher despite the central bank’s ongoing bond-buying program. The Fed currently buys USD80 billion a month of US Treasuries and USD40 billion a month of mortgage-backed securities. While the Fed will be keeping an eye on US Treasury yields, the 10-year, currently offered around 0.915%, maybe allowed to drift higher to 1.00% to steepen the yield curve slightly as growth prospects increase.

The chart is now dominated […]

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As investors start to reorder their ETF rosters for 2021, they have to be looking at gold and wondering whether the precious metal can sustain its rally. If inflation remains a concern, then exposure to gold through ETFs like the VanEck Merk Gold Trust (OUNZ) will be key.

OUNZ has obviously been the beneficiary of a gold run this year and the numbers show. The fund is up 22% according to Yahoo Finance performance figures.

OUNZ seeks to provide investors with an opportunity to invest in gold through the shares and be able to take delivery of physical gold in exchange for those shares. The Trust’s secondary objective is for the shares to reflect the performance of the price of gold less the expenses of the Trust’s operations.

Each share represents a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets consist principally of gold held on the Trust’s […]

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Gold is rising for the second straight day on Friday.

Strong support at $1,850 remains intact following Monday’s drop.

Several moving averages reinforce resistance area near $1,900.

Following Monday’s sharp decline, the XAU/USD pair fluctuated in a relatively tight range and struggled to make a decisive move in either direction. However, the pair broke above its consolidation channel on Friday and rose to a four-day high of $1,896.90. Gold technical outlook The Relative Strength Index (RSI) on the daily chart is currently testing 50, suggesting that the near-term bearish outlook is turning neutral on the back of Friday’s rebound. However, a cluster of key moving averages above the price shows that buyers may remain reluctant to commit to an extended climb.Both the 50-day and the 100-day SMAs are currently located near $1,900 psychological level, forming a critical resistance in that area. Only a daily close above […]

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( Kitco News ) – Gold and silver futures prices are posting solid gains at midday Tuesday, but still have a way to go to reclaim Monday’s strong losses that produced some near-term chart damage. The precious metals bulls are now working to stabilize their markets and made some progress today. December gold futures were last up $27.80 at $1,882.30 and December Comex silver was last up $0.839 at $24.54 an ounce.

The gold market Monday saw strong losses that were the worst in seven years and pushed prices to 3.5-month lows. Gold market bulls on Tuesday were possibly focusing more on the economic impact of record-setting monetary stimulus measures that have been enacted by central banks over […]

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