Turkish demonstrators stand near a barricade made with barbed wires and tree branches during a protest in a bid to block construction work of a goldmine project in an ecologically pristine area in the Black Sea region, on Feb. 17, 2016, in the northern Turkish city of Artvin. Photo by YASIN AKGUL/AFP via Getty Images). The economic uncertainties sparked by the COVID-19 pandemic have led to the global rise of gold as a financial safe haven. In Turkey, where the demand for gold has been traditionally high, the gold rush has reached jaw-dropping levels, fueled also by the nosedive of the Turkish lira.

Amid rising gold prices, gold-mining companies are eager to expand their activities in Turkey, and the ruling Justice and Development (AKP) is ready to grant them new favors — although the environmental damage caused by the industry has given rise to one the country’s most vigorous environmentalist […]

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The continuing growth in demand from gold Exchange Trade Products helped gold reach record levels in the three months to September, offsetting a sharp slide in consumption and higher stocks from rising scrap availability and weakening demand from central banks.

The three months to September saw a major shift in the gold market, according to the latest outlook and market summary from Refinitiv (formerly part of Reuters).

Central bank purchases fell, moving to being net sellers for the first time in nearly a decade. Refinitiv estimated their net sales at just under 13 tonnes for the for the third quarter. That is forecast to continue into 2021.

That easing in buying from one of the most reliable sources of demand compounded a sharp slide in global consumption (especially from many consumers made nervy by COVID-19) thanks to the huge rise in gold prices in the quarter to record levels above $US2,000 […]

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An employee arranges one kilogram gold bars for a photograph at the YLG Bullion International headquarters in Bangkok, Thailand, on Jan. 13, 2016.

Dario Pignatelli | Bloomberg | Getty Images

Gold prices gained in early Asia trade on Tuesday, supported by a weaker dollar and concerns stemming from the surging coronavirus spread globally and its economic fallout. Fundamentals

Spot gold rose 0.3% to $1,907.77 per ounce by 0116 GMT.U.S. gold futures were up 0.2% at $1,909.20.The dollar index slipped 0.1% against a basket of currencies, making gold cheaper for holders of other currencies.The United States, Russia, France and many other countries are setting records for coronavirus infections as a tidal wave of cases washes over parts of the Northern Hemisphere, forcing some countries to impose new curbs.U.S. House of Representatives Speaker Nancy Pelosi is hopeful that congressional Democrats and the Trump administration can reach agreement on the coronavirus relief bill before […]

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Gold prices have stalled after their recent advance: Pic: Kelly’s Heroes with Clint Eastwood share

US election uncertainty saps momentum from gold market

‘Gold price action has stalled’ despite polls showing a lead for Joe Biden

ASX gold stocks guide : Everything you need to know The price of gold was hovering around $US1,900 per ounce ($2,665/oz) Tuesday as investor nervousness around the outcome of the November 3 US presidential election took some momentum out of the market.“Even though polls continue to indicate a Biden victory and a Democratic Senate, gold price action has stalled, despite this election scenario posing the greatest upside risk for the metal,” Standard Chartered precious metals analyst Suki Cooper told Kitco news.Several drivers of recent record gold prices – negative real interest rates, expectations of a weaker US dollar and governmental economic stimulus spending – continue to support higher gold prices, Cooper added.Physical gold […]

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BRW Staking Announcement Figure1_Claims BRW Staking Announcement Figure2_Geology (1) MONTREAL, Oct. 27, 2020 (GLOBE NEWSWIRE) — Brunswick Exploration Inc. (“ BRW ” or the “ Co mpany ”) is pleased to announce that is has acquired a district-scale gold-silver property, totaling 37,260 hectares (372.6 sq. km), in southern New Brunswick, collectively known as the Fundy Gold Project (“ Fundy Gold ” or the “ Project ”). The newly acquired terrain is located West of the City of Saint John and covers 40 kilometres of strike length of the Fundy Shear Zone, a regional, deep-rooted, sparsely-explored Appalachian fault system. The Fundy Gold Project includes new outstanding discoveries made in 2020 by prospector Rob Murray and 24 historical, gold-silver, polymetallic and base metal mineral occurrences. Concurrent to the staking, BRW has entered into an option agreement with Mr. Murray, through Geosearcher Inc., that includes the 2020 discoveries; see Figure 1 and […]

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Gold is not going down without a fight on the short-term time frames.

The broader bias remains in the hands of the bears.

Gold is under pressure on the weekly and daily chart , but the 4-hour time frame is proving problematic to the bearish case.

The following illustrates the bearish bias in a top-down analysis: Weekly chart There is an opportunity on the weekly chart to trade the next downside extension following the latest correction. Daily chart The daily chart shows that the price has already broken trendline support which is now expected to act as a counter trend line resistance.A break below the 21-day moving average would add more conviction to the bearish case. 4-hour chart However, the bearish outlook has not been an easy ride so far on the 4-hour time frame.The yellow metal remains coiled in a tight range.The price action has been unfavourable […]

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( Kitco News ) – The gold market continues to tread water around $1,900 an ounce even as the U.S. sees some slowing momentum in the housing sector.

Tuesday, the Commerce Department said that U.S. September housing starts rose by nearly 2% to a seasonally adjusted annual rate of 1.415 million units.

However, the data missed expectations as consensus forecasts compiled by most news organizations called for starts to be around 1.457 million units. August tally was revised to 1.388 million units.Gold is seeing little reaction to the latest housing sector data. December gold futures last traded at $1,906.50 an ounce, down 0.24% on the day.Meanwhile, the Commerce Department said the tally of building permits – important as an […]

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Gold prices moved sideways edging slightly higher closing up approximately 0.25% for the week. This came as the dollar moved lower and Treasury yields took a break from their recent climb. A stronger than expected US Markit PMI index failed to further lift treasury yields. Germany’s manufacturing PMI rose to 58.0 from 56.4, which was better than expected.

Trade gold with FXTM Technical analysis

Gold prices consolidated remaining below resistance near the 10-day moving average at 1,906. Support is seen near the October lows at 1,872. Short-term momentum has whipsawed and turned positive after recently turning negative as the fast stochastic generated a crossover buy signal on the upper end of the neutral range. Medium-term momentum remains neutral to positive as the MACD histogram prints in the black with an upward sloping trajectory that points to a slow trend higher. US Composite PMI Rises More than expected

The US Flash […]

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Multiple Prospects on License Alteration Map and High Grade Gold Occurrences Magnetic Map Highlights Structural Corridors with Coincident Magnetic Low Anomalies Section (A) 3D Magnetics – Looking NW Oblique HALIFAX, Nova Scotia, Oct. 26, 2020 (GLOBE NEWSWIRE) — Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) (“ Erdene ” or the “ Company ”) is pleased to provide exploration results for its Dark Horse gold prospect, as part of the first phase of its 18,000-metre Khundii Gold District drill program. To date, the Company has received assay results for approximately 3,600 metres of the 10,000 metres drilled in the first phase.

Highlights 1 : Eleven hole, 1,574-metre reconnaissance diamond drill program completed at 100% owned Dark Horse prospect, discovered in Q4 2019, 3.5 kilometres north of the Bayan Khundii Gold Deposit

High-grade gold intersected in two holes at shallow depths, less than 30 metres vertically from surface:
○ AAD-48 – returned […]

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Strengths The best performing precious metal for the week was platinum, up 4.64 percent on perhaps sentiment that demand should pick up with more hydrogen research and production. Gold edged up on Friday as the U.S. dollar weakened on German data showing factories recovering solidly. The yellow metal finished the week positive after a steep drop last week.

Gold exports to the U.K. from Switzerland hit a one-year high in September, according to data from the Swiss customs authority. Bloomberg reports bullion bars are being sent to London vaults to meet requirements for physically backed ETFs.

Russia’s largest gold producer, Polyus PJSC, announced its Skuhoi Log deposit in Siberia holds the world’s biggest gold reserves, according to a new audit. Data shows the deposit has 40 million ounces of proven reserves with an average gold content of 2.3 grams per ton.

Weaknesses The worst performing precious metal for […]

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Stock image “Gold is facing a bit of a headwind from the recent slight rise in real yields,” Nicholas Frappell, global general manager at Sydney-based ABC Bullion, said in a Bloomberg interview .

“Some investors are optimistic over the prospects for US growth. Others are seeing positioning ahead of a Democratic win and assuming that the fiscal consequences will drive bond prices lower and yields higher,” he added.

“Gold has been trapped between $1,930 and $1,880. It is waiting to take cues from the election and there’s this resurgence of the pandemic,” Phillip Streible, chief market strategist at Blue Line Futures in Chicago, told Reuters .

The number of covid-19 cases in the US continues to spike with no signs of letting up. Over the past seven days, the country reported an average of about 68,767 new cases every day, the highest seven-day average recorded since the onset of the pandemic, an […]

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Some interesting and eyebrow-raising developments are in the making for the bull case in gold. Some developments are very short-term and some are longer-term structural developments.A large short-term catalyst for gold prices is the prospect of a contested election outcome that drags on for several weeks. There are multiple views being cast about by high-profile investing gurus as to what this scenario may look like.The most notable opinion rendered was that of global veteran investor Mark Mobius. Mobius is hailed by Bloomberg as one of the 50 most influential investors in 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) Gold is continuing to take its cues from the U.S. dollar as analysts focus more on the fiscal stimulus prospects rather than the election itself, according to Standard Chartered.

Even though the macro environment remains very supportive of higher gold prices, the precious metal is stuck at the $1,900 an ounce level, said Standard Chartered precious metals analyst Suki Cooper.

“Gold prices continue to oscillate around USD 1,900/oz, between the 50-day and 100-day moving averages, but continue to take their cues from macro drivers, predominantly the USD rather than real rates,” Cooper wrote on Friday. “We expect this to remain the case leading up to the U.S. presidential election.”

The amount of attention being given to stimulus seems to be […]

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Gold prices crumble below counter-trendline resistance despite bullish fundamentals.

Global coronavirus spread, US elections and stimulus uncertainty all in the mix.

The price of gold has been testing the bearish commitments above the $1,900 psychological level following a brief spell below it, printing a low of $1,891.50.

US election and stimulus news is dictating the flows in and out of the precious metal and has kept it coiled in a tight range of prior sessions.However, despite the bullish fundamentals, the price has been chipping away at lower lows below trendline resistance. Global stocks pressured on covid headlines European stocks ended the day sharply lower and the negative sentiment has fed through to Wall Street setting the Dow for its worst day in more than seven weeks.The major indexes are down Dow 2.7%, S&P 2.1%, Nasdaq 1.75%.New infections have touched record levels in both Europe and the United States […]

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Gold prices moved sideways despite a selloff in riskier assets, as stocks headed south on fears of continued COVID-19 spread. The dollar moved higher as risk aversion took hold. Treasury yields took a break from their recent climb, declining as riskier assets dropped. A weaker than expected September New Home Sales report weighed on yields, allowing gold prices to remain buoyed. Gold implied volatility which measures how much options traders believe the price will move remains elevated at 21% well off the highs seen in March near 55, but well off the average in 2019 which was closer to 13%.

Trade gold with FXTM Technical analysis

Gold prices consolidated for the second consecutive trading session below resistance near the 10-day moving average at 1,904. Support is seen near the October lows at 1,872. Short-term momentum has whipsawed and turned positive after recently turning negative as the fast stochastic generated a […]

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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 is in need of a new catalyst as prices continue to consolidate around $1,900 an ounce. With the U.S. election in the home stretch, many investors are hoping a fiscal stimulus package would be the spark to ignite a new rally.

In a telephone interview with Kitco News Friday, Christopher Vecchio, senior currency strategist at IG Group, said that if investors are looking for more stimulus aid then they should be paying close attention to the Senate election race because this is what will drive new government money into the economy.

"If Biden wins, but Republicans maintain hold of the Senate, then it will be difficult to pass new stimulus measures," he said. "The Senate […]

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Plan geology map of the Sandman Project area with known prospects and targets labelled Regional location map of Sandman Project Cross section of the Silica Ridge deposit showing geology and mineralized envelopes Cross section of the Southeast Pediment deposit showing geology and mineralized envelopes Cross section through the North Hill occurrence showing geology, gold mineral envelopes and drilling (black lines) Existing 43-101 Sandman Gold Resource Estimate from 20071 VANCOUVER, British Columbia, Oct. 26, 2020 (GLOBE NEWSWIRE) — Gold Bull Resources Corp. (TSX-V: GBRC) (“ Gold Bull ” or the “ Company ”) is pleased to provide an update of the Sandman Gold Acquisition Project. As announced on October 12, 2020, the Company has executed a Purchase and Sales Agreement to acquire 100% of the asset (“Sandman” or the “Project”) for USD $4 million in cash.

HIGHLIGHTS: •

Sandman is considered prospective for two styles of gold mineralisation:

• […]

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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) With the U.S. election just one week away, volatility is rocking the financial markets, except for the gold sector, in which investors remain very cautious ahead of the big event.

There are four main scenarios investors are preparing for come election day — a Democratic sweep, a Trump win, a split Congress, or a contested election.

All of the above are likely to trigger higher gold prices in the long-term, but one might set off an "explosive" rally while others are likely to lead to a "slow grind higher," according to Pepperstone head of research Chris Weston.

"Longer-term, all roads lead to higher gold prices," Weston told Kitco News on Friday. Blue wave The most explosive scenario for gold would […]

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Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today . A team of analysts at J.P. Morgan’s Global Markets Strategy group are touting Bitcoin’s emergence as an alternative to gold among Millennials, suggesting a “doubling or tripling” in the price of the cryptocurrency if current trends continue. The prediction, which came in a research note published on Friday, is remarkable given the bank’s one-time skepticism towards Bitcoin, which included CEO Jamie Dimon calling it a “fraud” in 2017 and saying he would fire anyone trading it for being “stupid.”

J.P. Morgan’s recent bullish stance is driven in part by PayPal’s recent decision to offer Bitcoin to its customers, and Square’s recent decision to add $50 million of the cryptocurrency to its balance sheet. Another major factor for its position, though, is the demographic trend in which younger […]

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Gold Price Analysis: XAU/USD flat around $1,900 approaching the tip of a triangle pattern

Gold’s futures have remained moving directionless within a tight range, both sides of $1,900 on Monday. The precious metal is approaching the tip of a triangle pattern that has been shaping over the last four weeks

Bullion prices have been trading within a $10 range, between $1,898 and $1,908 on a risk-off session, with the USD outperforming its main peers on growing concerns about the global increase of COVID-19 cases. Gold & Silver price forecast – U.S Presidential Election prep

Gold found support on Monday, above the key psychological level of $1,900 as a spike in new infections weighed on risk sentiment among investors as cases touched record levels in the United States .U.S. stocks decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus […]

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While traders look for reasons to buy gold and silver , there is no reason to step in here. The precious metals remain in downtrends, with a higher probability of breaking to the downside until proven otherwise.

What I find interesting is marketing campaigns continue to tell us how high the metals are going. However, we know for sure that eventually, gold, silver and platinum will reverse and trend higher. Trying to guess when without price action and proof that becomes a fool’s game of hope.

Traders must learn that trading is never based on hope or false promises, but price action and trend. Add to that, when those who sell promises and hope are playing on the emotions of traders. Hope is a losing proposition when it comes to trading; price and trend will guide you.

Recording: Hedge your Portfolio: On Saturday we had a webinar on Hedging your Portfolio. […]

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The gold futures contract gained 0.03% on Friday, as it continued to trade within a consolidation following bouncing off $1,900 price level again. In September the market was retracing its rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance. Then gold has bounced from the support level marked by mid-August local low of around $1,875, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% higher this morning, as it remains within a mentioned consolidation after bouncing off $1,900 level. What about the other precious metals? Silver lost 0.14% on Friday and today it is 1.3% lower. Platinum gained 2.57% and today it is 1.8% lower. Palladium gained 0.11% on Friday and today it is 0.8% lower. So precious metals are lower this morning , as they further extend their consolidation.

Friday’s U.S. Flash […]

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