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(Kitco News) Investor demand is keeping gold from sliding below $1,900 an ounce, but weak physical demand out of Asia is keeping a lid on the precious metal’s gains, according to Commerzbank. "Gold is continuing to lack support from physical gold demand in Asia. Swiss trade data had revealed last week that gold demand in India and China was still rock bottom in September. This is likely to be confirmed by the World Gold Council this week when it publishes the demand trends for the third quarter on Thursday. This will probably prove to be the weakest quarter this year. Gold is still finding support from investment demand, however, which is presumably preventing the price from sliding," writes […]

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(Kitco News) Gold is likely to trade around the $1,900 level until the U.S. election or a stimulus agreement, according to MKS PAMP Group. "Gold prices continue to fluctuate as investors weighed the better than expected economic data against the stalled U.S. stimulus talks. The metal continues to be centered around $1,900 for the time being, with a general lack of direction and momentum," MKS writes. Investors should be looking at technicals to figure out gold’s next price move, MKS adds. "Over the past few weeks, we have seen a number of attempts at the $1,920-30 region, however it always ends up falling back off. That said support between $1,875-95 has been robust, the metal happily floating in […]

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Gold futures are posting a choppy, two-sided trade on Monday. The market opened sharply lower but then turned slightly higher for the session as traders reassessed the probability of a stimulus deal getting agreed upon by the November 3 presidential election. Given the strength in the U.S. Dollar Index, it appears that there won’t be a fiscal stimulus deal before voters go to the polls. However, new worries over the economic impact of the pandemic are providing some support.

At 15:18 GMT, December Comex gold futures are trading $1906.00, up $0.80 or +0.04%.

Traders are also monitoring the polls ahead of the election. Although Democratic candidate Joe Biden is predicted to win, the numbers may be contested by President Trump. However, if Biden wins then investors expect to see even more stimulus measures in 2021. This should be bullish for gold.

Daily December Comex Gold Daily Swing Chart Technical Analysis The main […]

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Gold Price Forecast Talking Points:

Ahead of this recent digestion, Gold prices were breaking out with aggression, setting a fresh all-time-high in early-August. Are bulls waiting to drive that next break?

The analysis contained in article relies on price action and chart formations . To learn more about price action or chart patterns, check out our DailyFX Education section.

Last week saw Gold prices tease a bullish breakout. But, buyers stepped back before a re-test of the prior October high and, so far, Gold prices have continued in the digestion backdrop that’s become commonplace over the past two months.As looked at last week, Gold prices remain in a falling wedge pattern after the bullish breakout drove through the August open. This isn’t the first time that Gold prices have formed a falling wedge during this recent bullish cycle, as similar scenarios presented itself in Feb-May of last year […]

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2020 Election, Gold Prices, Coronavirus Cases, Election Day – Talking Points

8 DAYS UNTIL THE US PRESIDENTIAL ELECTION

It is almost exactly one week until election day and the polls continue to indicate that Democratic nominee Joe Biden will take the White House. According to RealClearPolitics, the former Vice President is almost 8 points ahead of incumbent President Donald Trump. This figures falls in line with the rough 7-point average Mr. Biden has held for several months apart from a few brief interims of polling convergence. Virus Spike Souring Sentiment

Coronavirus cases around the US and world are dramatically spiking and bringing to light the much-dreaded premonition of a second wave hitting the globe in Autumn. With Congress locked in a bipartisan stalemate, lack of progress in fiscal stimulus negotiations has undermined confidence in economic stabilization and soured risk appetite.Over the past few days, equity markets have plunged while […]

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* Rise in Asian physical demand to further support gold – analyst * Chinese car sales to buoy platinum, palladium – analysts * Interactive graphic tracking global spread of coronavirus: here (Updates prices) By Asha Sistla Oct 26 (Reuters) – Gold edged up on Monday as growing fears over a second COVID-19 wave countered a firmer dollar and a lack of headway on a U.S. stimulus package to combat the economic impact of the pandemic. Spot gold was 0.1% higher at $1,902.06 per ounce by 1221 GMT, regaining some ground after earlier falling to its lowest since Oct. 15, at $1,890.19. U.S. gold futures were flat at $1,904.30. "What’s significant is the fact that yes, we have opened lower, but we’re actually pulling off the lows of the day. There was always this possibility that we were going to get a second (COVID-19) wave, and obviously that is a […]

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Gold managed to attract some dip-buying on Monday and refreshed daily tops in the last hour.

The technical set-up still favours bearish traders and supports prospects for a further decline.

Attempted move up might confront stiff resistance and remain capped near the $1918-19 zone.

Gold reversed an early dip to the $1891 region, or seven-day lows and refreshed daily tops during the mid-European session, albeit lacked any strong follow-through.The goodish intraday rebound back above the $1900 mark stalled near 200-hour SMA. The mentioned barrier also coincides with a one-month-old ascending trend-line support breakpoint, which should now act as a key pivotal point for intraday traders.Meanwhile, technical indicators on the 1-hourly chart have again started moving into the positive territory and support prospects for a further move up. However, oscillators on 4-hourly/daily charts maintained their bearish bias and favour bears.Hence, any subsequent positive move beyond the $1905-06 […]

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Gold has made its way back above the $1,900 level, attempting to recover. Earlier, it dropped as Democrats and Republicans blamed each other for "moving the goal posts" on fiscal stimulus talks. The precious metal continues having a robust correlation with speculation about a multi-trillion relief package from Washington.

Election uncertainty is also weighing on markets, but having a more muted impact on XAU/USD.

How is gold positioned on the charts?

The Technical Confluences Indicator is showing that XAU/USD is capped under $ 1.909 , which is the convergence of the Fibonacci 61.8% one-week and the Bollinger Band 4h-Middle. As the graphic below shows, it is the most robust level.Looking up, the next target is $ 1,923 , which is a juncture of lines including the Pivot Point one-day Resistance 2, the 50-day Simple Moving Average, and the PP one-week R1.Some support awaits at $ 1,891 , which is the confluence of […]

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The trends for gold and silver are likely to remain in positive on Friday and the yellow metal is expected to end the weak in the green, Anuj Gupta, Deputy Vice President, Commodity and Currency Research at Angel Broking. The technical analyst, however, has a few tips for the investors and traders to maximise their gains or avert losses.

Gupta revealed the strategy to trade on the intraday basis. Know what he recommended today.

Intraday strategy for MCX Gold traders: At 4 pm, the December Gold Futures were trading around Rs 50,910 per 10 gm on the MCX, almost 0.3 per cent from the Thursday closing price.

Gupta suggests buying in Gold futures on dips. He said that the levels for buying could be around Rs 50,700. He puts the stop loss at Rs 50,400 while the target price at Rs 51200.The Delhi spot gold price was Rs 50,800 per 10 […]

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Told you once, told you 98% of the time…

ROLL BACK to Tuesday, 4th May 1999, says Adrian Ash at BullionVault.

The US stock market has risen 10-fold over the previous 2 decades…

…and stocks now keep setting fresh all-time highs as the "information super highway" sees investors large and small bet big on anything with "dot com" in its name or prospectus.Gold in contrast is flirting with fresh 2-decade lows, losing two-thirds of its US Dollar value from the inflation-crisis top at $850 per ounce of January 1980.So asks the headline on columnist Floyd Norris’ view of the metal as central banks across the world sell off ever-more of their bullion reserves."The process of removing the glitter from gold has been a gradual but inexorable one," Norris writes."Gold’s reputation as a store of value has eroded…Much of the world is now quite happy to accept the idea that […]

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Gold bullion on a chart The gold price has shone in the pandemic, and trades 27% higher than a year ago. Yet I’d be wary of investing in the precious metal today. After hitting an all-time high of around $2,084 an ounce in August, gold has slipped to around $1,900. If we get a working Covid-19 vaccine and find a way out of the current malaise, it could fall further.

There’s another reason why I’m wary. There are no dividends or interest when you buy gold. By contrast, the FTSE 100 and FTSE 250 are full of stocks that pay dividends, even if many have suspended payouts this year. The following two shares give exposure to the gold price too.

Gold and dividends? That’s what can be achieved investing in gold mining stocks, but with an extra layer of risk. It not only brings exposure to gold price movements, but the […]

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Including 15 Metres of 2.26 g/t Gold and 16.6 g/t Silver (2.48 Au-eq) from 21 Metres

Vancouver, British Columbia–(Newsfile Corp. – October 26, 2020) – Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the" Company "or" Chakana "), is pleased to provide drill results from four additional holes completed at the Paloma East target at the expanded Soledad Project in Ancash, Peru. These results are part of the Phase 3 drill program, a fully funded 15,000 metre drill program that started August 15, 2020. Phase 3 is testing a tight cluster of high-grade, gold-enriched tourmaline breccia pipe targets within the high-priority Paloma area and will then continue onto the Huancarama breccia complex (Fig. 1). Drilling is currently underway at Paloma West where eleven holes have been completed thus far.

Significant mineralized intervals from these four holes at Paloma East include: DDH # Az Dip From –
To (m) Core […]

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Gold in wait-and-see mode ahead of US election; bears eye 1,900 [Video]

Gold completed another indecisive week , maintaining a horizontal trajectory within the 1,848-1,930 area as the final countdown to the US election nears an end, the stimulus confusion remains intact, and vaccine hopes rise. Gold sellers are dominating

Gold sellers are dominating. Last 3 months selling on rallies was dominant strategy for positional intraday traders. Occasional longs are possible only with the strict timeframes such as 15m.

W H4 and 78.6 are making a confuence close to the previous top. 1919-1922 is the POC zone where we might expect sellers to react. If the market gets higher above 1934 then sellers will be in trouble. I expect rejections off 1911-13 zone and 1919-22 zone. Targets are 1892 and 1882. Read More… Have you noticed gold rises in a risk on market? This short article is to point out […]

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A total of 85 core holes (approximately 23,400 meters) were drilled as part of the 2020 Drill Program. Barrick Gold Corporation (“Barrick”) (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (TSX , NYSE American: NG), is pleased to announce the successful completion of its 2020 85 – hole drilling program totaling approximately 23,400 meters . The holes were drilled in both the ACMA and Lewis deposit areas of the Donlin Gold project. Assay results for the first 25 holes (representing 30% of the length drilled) have been received to date, of which nine were previously released to the market on August 6.

Assay results show higher grades over thinner intervals compared to those predicted by previous modelling, particularly in sedimentary rocks.

The Donlin Gold team is wrapping-up site activities with the drill core being logged, cut, sampled, and shipped to assay laboratories. Site activities are now completed.

[…]

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( Kitco News ) – Gold has rebounded leading into the US open but there are some key resistance levels the yellow metal has to take out before looking bullish again. Leading into the last week before the US election it is understandable things are slightly sideways. Gold has been oscillating around the $1900 per ounce market for a few sessions and today has been no different. Leading into the EU session the price of gold was weaker as there was a few bearish news stories from over the weekend to digest. Now the futures price has recovered and gold is trading just above flat. The bulls need to take out the $1916 resistance to have a […]

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( Kitco News ) – Gold futures prices are a bit lower in early U.S. trading Monday. The precious metals continue to trade in an inverse fashion with the daily movements of the U.S. dollar index, which is higher today. Losses in the yellow metal are limited to start the trading week, as U.S. and global stock markets see some selling pressure. December gold futures were last down $0.90 at $1,904.30 and December Comex silver was last down $0.365 at $24.31 an ounce.

Global stock markets were mostly down overnight. U.S. stock indexes are set to open the New York day session lower. Trader and investor attitudes are more downbeat to start the trading week, as the Covid-19 […]

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An employee shows two bars of gold produced by state-owned diversified mining company PT Aneka Tambang (Antam). (kompas.com/Garry Andrew Lotulung) State-owned miner PT Aneka Tambang (Antam) has set its sights on acquiring the lucrative Wabu Block gold mine in Papua to replenish the company’s dwindling gold reserves.

Antam is already drafting a work plan for the gold-rich block in Intan Jaya regency, as the miner waits for its parent company, state-owned mining holding MIND ID, to hand over the block, according to the company.

MIND ID’s president director had previously confirmed the handover plan on Sept 29. The holding company estimates the block to contain 8.6 million ounces of gold resources.

“This will, of course, be a new hope for Antam,” Antam corporate secretary Kunto Hendrapawoko told The Jakarta Post on FridayAntam’s takeover of the Wabu Block is expected to further consolidate the company’s gold business, which contributes over 60 percent of […]

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LONDON, Oct. 26, 2020 /PRNewswire/ — Australia’s first New South Wales Gold Rush took place over 120 years ago. Back then, prospectors wielded nothing more than pickaxes. Now, a second Gold Rush is on, with a mad rush to this territory with gold explorers wielding the latest technology. Mentioned in today’s commentary includes: IAMGOLD Corporation (NYSE: IAG ), Newmont Corporation (NYSE: NEM ), Yamana Gold Inc. (NYSE: AUY ), Pan American Silver Corp. (NASDAQ: PAAS ), Kinross Gold Corporation (NYSE: KGC ).

Huge mining names have now gathered. And a sea of junior explorers is attempting to storm the venue. But one stands out: Sentinel Resources Corp . ( SNL ; SNLRF ) . It has 8 massive gold projects covering nearly 95,000 hectares which contains nearly 200 historic, high-grade Gold-Rush-era mines and showings.

Sentinel Resources Corp. is already up over 3X (and rising) likely because it’s sitting on an incredibly […]

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A one kilo Swiss gold bar and US dollars gold coins are pictured in Paris on February 20, 2020.

JOEL SAGET| AFP via Getty Images

Gold prices eased to an over one-week low on Monday in early Asia trade as the dollar firmed and talks over the new U.S. coronavirus aid package showed no signs of progress. Fundamentals

Spot gold fell 0.1% to $1,899.41 per ounce by 0053 GMT, after hitting $1,890.19, its lowest since Oct. 15.U.S. gold futures were down 0.2% at $1,900.The dollar index was up 0.1% against a basket of currencies.U.S. House Speaker Nancy Pelosi said on Sunday the Trump administration was reviewing the latest plan for more COVID-19 relief over the weekend and that she expected a response on Monday, adding that she was still optimistic a deal could be reached.U.S. reported 79,852 new infections on Saturday, close to the previous day’s record of 84,244 new cases. […]

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Gold prices have fallen off their highs, cooling down as fiscal stimulus talks have yet to reach the final line. While both Republicans and Democrats are reporting progress, time is running out toward the elections and it is unclear if lawmakers would opt to pass legislation during the "lame duck" period.

The precious metal was rising on hopes for a multi-trillion dollar injection of funds from the federal government. Moreover, the market mood dampened after US security authorities said that Iran and Russia obtained voter registration files and are threatening people ahead of Election Day. Concerns about foreign interference may contribute to a contested election and no new stimulus.

How is XAU/USD positioned after these developments?

The Technical Confluences Indicator is showing that gold has robust support at $ 1,909 , which is the convergence of the Simple Moving Average 200-1h and the SAM 5-one-day.Below this critical line, an additional cushion awaits […]

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Gold futures finished marginally lower and consolidated in a tight range for a third week with investors held hostage by the lack of movement toward a fresh government fiscal stimulus plan. The price action was choppy with gold rising along with hopes for a deal falling when those hopes were dashed.

It wasn’t the actual stimulus headlines that drove the price action, but what they did to the U.S. Dollar. When stimulus was on the dollar weakened, driving up foreign demand for the dollar-denominated commodity. When both sides nearly walked away from negotiations, the greenback rose, pressuring gold prices.

Last week, December Comex gold settled at $1905.20, down $1.20 or -0.6%.

Gold is viewed as a hedge against inflation and currency debasement spurred by stimulus measures. Stimulus Update It doesn’t make sense to retrace the stimulus headlines from last week. All one has to know is that they changed nearly every day […]

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