Gold is holding up above $1900, looking to extend gains into the third straight day on Wednesday, despite the recent broad US dollar strength. Risk-aversion remains in play amid likely imposition of tighter COVID-19 restrictions in Europe’s top economies, as the second-wave tightens its grip.

Also, benefiting the yieldless gold is the sell-off in the US Treasury yields across the curve amid faltering US economic recovery and election anxiety. Fading prospects of US fiscal stimulus also weighs on the investors’ sentiment.

How is gold positioned technically? Gold: Key resistances and supports

The Technical Confluences Indicator shows that the yellow metal is trying hard to overcome powerful resistance at $1909.40, which is the convergence of the SMA200 four-hour and Fibonacci 61.8% one-week.Acceptance above the latter will revive the bullish momentum, with the next major resistance seen at $1919, where the Fibonacci 38.2% one-week is placed.Further north, the bulls will test the $1923 […]

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Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! ( Kitco News ) – Gold prices are holding sharp losses, have hit a four-week low and are trading near the daily lows in late-morning action Wednesday. Strong gains in the U.S. dollar index on this day are pressuring the precious metals. December gold futures have seen a bearish downside “breakout” from the recent sideways trading range on the daily bar chart, to produce some technical damage. A move in prices below solid chart support at the September low of $1,851.00 would give the bears more power to suggest a new leg down in prices in the near term. Indeed, the line in the sand for the gold market bulls to now defend is that price level. […]

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Gold is falling alongside stocks as the market mood sours. Rising coronavirus cases in Europe and the US is weighing on the mood, as well as uncertainty about the elections. The chances of a "blue wave" – a massive Democratic victory – that would ensure massive stimulus seems less certain as investors get nervous ahead of the vote.

See Gold Price Analysis: XAU/USD has three ways go in response to the 2020 Presidential Elections

In the meantime, how are technicals looking for XAU/USD? Bears seem to have the upper hand.

The Technical Confluences Indicator is showing that significant resistance awaits gold at $ 1,904 , which is the convergence of the Bollinger Band 4h-Middle, the BB one-day Middle, the Simple Moving Average 10-1h, the SMA 5-4h, and the Fibonacci 38.2% one-month.An even stronger cap awaits XAU/USD at $ 1,909 , which is the meeting point of the Fibonacci 23.6% one-day and […]

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Bitcoin has proven itself to be a risk asset, not a safe haven, with “considerable” potential upside, according to a Friday note from JPMorgan’s Global Quantitative and Derivatives Strategy team obtained by CoinDesk.

Writing to clients in “Flows & Liquidity,” one of JPMorgan’s flagship publications, the authors said that characterizing bitcoin as a “risk” asset rather than a “safe” asset is “more appropriate” based on the leading cryptocurrency’s increased positive correlation with the Standard & Poor’s 500 Index since March.

Bitcoin’s function as a risk asset is “likely more of a reflection of a need for an ‘alternative’ currency rather than a need for a ‘safe’ asset or ‘hedge’.”

“To some extent, this is also true with gold,” the authors add, although the yellow metal’s volatility is notably lower than bitcoin’s.How investors currently perceive bitcoin’s value implies that it could “compete more intensely” with gold as an “alternative” currency over the coming […]

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EXCLUSIVE: Rick Ness was eager to search for gold, even during a global pandemic .

While the coronavirus shut down the world in March and rocked the U.S. economy, gold prices spiked to record highs. And the price of fuel, the biggest expense for a gold miner, bottomed out. That’s why Ness was ready to hit the road in hopes of finding millions of dollars in gold.

The new season of “Gold Rush,” recognized as Discovery’s most-watched series, focuses on how COVID-19 impacted the gold mining industry and how several miners were eager to seek fortune in the wilderness. However, the time crunch and the natural elements would be one of many challenges these crewmen and women had to endure. Ness spoke to Fox News about filming “Gold Rush” during a pandemic, dealing with quarantine and what kept him going during tough times.

MIKE ROWE TO PREMIERE ‘DIRTY JOBS: ROWE’D TRIP’ […]

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Representative Image. Credit: Reuters Photo Gold prices were little changed on Wednesday, staying above the $1,900-mark, as uncertainties about US elections and surging global Covid-19 cases countered pressure from a firmer dollar and fading hopes of an immediate US stimulus package.

Spot gold was steady as $1,906.15 per ounce by 0329 GMT. US gold futures were down 0.3% at $1,907.10.

"Investors need a reason to buy more gold and the reason to buy gold will come from a policy signal," said Stephen Innes, chief global market strategist at Axi.

"With the virus raging all over, we are going to get stimulus at some point… This is also probably leaning towards more central bank intervention because the economic hit is going to be quite significant," he added.The pandemic has prompted unprecedented money printing and low-interest rates globally, putting gold on track for its best year in a decade given its appeal as a […]

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Gold prices slipped in early trade in the domestic futures market on October 28 tracking trends of the international markets.

Gold prices eased in international markets after the dollar gained some strength against its peers as the hopes of US stimulus weakened after the US President said a deal is possible after the November election.

Trump on Tuesday said a coronavirus economic relief deal would likely come after the November 3 election, with the White House unable to bridge differences with fellow Republicans in the US Senate as well as congressional Democrats.

However, concerns over rising cases of coronavirus and lacklustre equity markets saved gold from witnessing a strong selloff.In the US and Europe, coronavirus cases have been rapidly rising and reports suggest that France is prepared for a fresh lockdown as new daily confirmed coronavirus cases hit the highest ever.Markets will look ahead to a televised address on Wednesday evening by […]

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Summary

We investigate several correlations of gold with a variety of parameters.

Copper, the dollar, and the 10-year rates are all connected to the gold market.

We summarize the balance of probabilities for gold, the dollar, and the 10-year bond rate going forward.In this piece, we investigate several correlations of gold with a variety of parameters, including copper, the dollar, inflation, and the 10-year rates. Copper Copper correlates: Strongly positive with the 10-year rate Positively with gold Negatively with the dollar Copper has been rising throughout the recovery and is likely to continue moving higher. This implies gold and the 10-year rate are likely to go higher and the dollar is likely to move lower. Pring Inflation Index Gold has a positive correlation with the Pring Inflation index, but on occasion, the correlation spikes negative. Half the negative spikes were followed by rallies in gold and half by drops in the gold […]

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This Dhanteras buy gold at price as low as Re 1 –Check out BharatPe's digital gold service New Delhi: This Dhanteras, purchasing gold can be started as low as Re 1. Merchant payment platform BharatPe in association with Safegold, has introduced digital gold product on its platform for merchants.

Merchants will get an entire gamut of financial products with the launch of digital gold on BharatPe.

Minimum investment limit

BharatPe Gold merchant can start investment for as low as Re 1. The choice of payment is either via BharatPe balance or UPI. BharatPe has said that in the near future, it will be adding credit and debit cards as payment options. What is Safegold? Safegold is a digital platform allowing customers to buy, sell and take delivery of 24k physical gold, at low ticket sizes. The services are available around the clock. SafeGold has appointed IDBI Trusteeship Services to protect […]

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LONDON, Oct. 28, 2020 /PRNewswire/ — By the end of next year, Australia is expected to become the #1 country in gold production, knocking China from the pedestal during today’s gold bull market. It’s been home to some of the biggest gold bonanzas in the world, like the Mount Morgan mine which has produced over 8 million ounces of gold to date. Mentioned in today’s commentary includes: Teck Resources (NYSE: TECK ), Wheaton Precious Metals Corp . (NYSE: WPM ), First Majestic Silver (NYSE: AG ), Turquoise Hill Resources (NYSE: TRQ ), Endeavor Silver (NYSE: EXK ).

Now, Sentinel Resources Corp. ( SNL ) ( SNLRF ) has brought together a team with over 90 years of combined experience to tap this historic region again in the ultimate low-risk, high-reward opportunity. Armed with valuable data on historic mines that some world-class geologists believe is worth over $30 million, Sentinel just […]

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( Kitco News ) – Gold and silver futures prices are solidly lower in early U.S. trading Wednesday. The precious metals are again being pressured by a stronger U.S. dollar index on this day. Much to the consternation of the bulls, the safe-haven metals can’t catch a bid at mid-week despite the keener risk aversion in the marketplace. Once again the shorter-term gold futures traders are paying more attention to the daily movements of the U.S. dollar index. December gold futures were last down $21.50 at $1,890.20 and December Comex silver was last down $0.62 at $23.97 an ounce.

Global stock markets were mixed but mostly lower overnight. U.S. stock indexes are set to open the New York […]

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Trump and Biden debated for the second and last time in this campaign. So, who will win, and why gold is likely to be the biggest winner of them all?

President Donald Trump and Democratic challenger Joe Biden met for the second and the last debate before the elections. Thankfully, this time things were less chaotic and with far fewer interruptions and insults. Perhaps Trump has acknowledged that his aggressive behavior was a liability and decided to change his approach – especially since this was his final opportunity to alter the presidential campaign dynamics.

However, it might be too late now. According to both nation-wide and state-by-state polls, and market bets, Biden is still in a significant lead (as the chart below shows). Moreover, because of the postal voting, many votes are already locked in, as a record 47 million Americans have already cast their ballots. In addition to the above, […]

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An Argor-Heraeus SA branded two hundred and fifty gram gold bar, center, sits in this arranged photograph at Solar Capital Gold Zrt. in Budapest, Hungary.

Akos Stiller | Bloomberg | Getty Images

Gold prices were little changed on Wednesday, staying above the $1,900-mark, as uncertainties about U.S. elections and surging global Covid-19 cases countered pressure from a firmer dollar and fading hopes of an immediate U.S. stimulus package.

Spot gold was steady as $1,906.15 per ounce by 0329 GMT. U.S. gold futures were down 0.3% at $1,907.10.“Investors need a reason to buy more gold and the reason to buy gold will come from a policy signal,” said Stephen Innes, chief global market strategist at Axi.“With the virus raging all over, we are going to get stimulus at some point … This is also probably leaning towards more central bank intervention because the economic hit is going to be quite significant,” he […]

Click here to view original web page at www.cnbc.com

In light of preliminary figures for Gold futures markets from CME Group, open interest reversed three pullbacks in a row and went up by around 4.7K contracts on Tuesday. In the same line, volume extended the downtrend for the third consecutive session, this time by nearly 10.3K contracts. Gold meets initial hurdle at $1,920/oz

Prices of gold extends the upbeat momentum so far this week. Tuesday’s positive price action was in tandem with rising open interest, leaving the door open for the continuation of this move in the very near-term. That said, the 55-day SMA at $1,922 emerges as the initial interim hurdle. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your […]

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Summary

Barrick Gold reported Q3 production figures on Oct. 15 and will release Q3 results on Thursday, Nov. 5.

Barrick produced more gold in Q3 and earnings will benefit from a 10.3% rise in gold prices and a 17.9% rise in copper prices.

Barrick will likely report strong earnings and cash flow, and a drop in its net debt to $1 billion, with the potential for a dividend raise.Here’s what to expect from Barrick’s upcoming earnings report, a look at its valuation, and where the stock may be headed. Looking for more investing ideas like this one? Get them exclusively at The Gold Bull Portfolio. Get started today » Barrick Gold: What To Expect In Q3 YCharts Barrick Gold’s ( GOLD ) shares have been outperforming its peers year to date, returning 43.46% compared to a 30.70% gain in the VanEck gold miners index ( GDX ) and a 25.25% increase in […]

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Shutterstock Curioso.Photography Close Authorship Aerial view of Amazon River. For decades, the Yaigojé Apaporis Indigenous People in Colombia’s lower Apaporis River Basin worked to get their traditional lands formally recognized by the government and secured from outside threats. Initially protected as the Yaigojé Apaporis Reserve, it also was declared an Indigenous territory in 1988.

But in 2007, Cosigo Resources, a Canadian mining company, requested from the government a gold mining concession within the Yaigojé Apaporis Reserve. The Yaigojé Apaporis were alarmed, but unlike other Indigenous groups around the world, they had some legal options. Laws in Colombia recognize Indigenous peoples’ right of consultation, although not consent. They also provide Indigenous communities with the right of first refusal, meaning they are first offered the mineral rights before the government can grant a mining concession to a third party. And while national laws allow mining on Indigenous lands, it is not permitted […]

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Gold is trading really close to its 2011 all-time high. This is obviously a critical level for the future of gold prices.

Historically gold in US dollars often clears significant all-time highs only some time after significant currencies like the Euro and British pound.

This is mainly due to US dollar behaviour during times of significant risk aversion, like we’ve had this year and 2008, for example.

The following charts comparing gold in USD, in GBP and in Euro shows just that: Gold in USD only surpassed its significant March 2008 high about a year after gold in GBP and Euro did it. We have a similar setup where gold in GBP and Euro already hit their 2012 high around August 2019.Both GBP gold and Euro gold are sitting comfortably above their 2012 high. History strongly suggests that USD gold will follow and get comfortably above the 2012 high real soon.The US […]

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GOLD BARS traded in London ticked higher in quiet trade Tuesday, holding in a tight $10 range above $1900 per ounce as world stock markets extended yesterday’s US plunge as the Covid pandemic’s second wave worsened ahead of next week’s US presidential election.

US tech-stock index the Nasdaq struggled to rally from Monday’s 2.0% drop, led by German-based SAP (Nasdaq: SAP) plunging over 20% after it slashed 2020’s earnings outlook on falling sales amid the global virus crisis.

The EuroStoxx 600 index meantime slipped to trade 5.0% below the peak first reached in June, halving the spring’s Covid Crash.

Wholesale gold bars priced in Euros have added €100 per ounce since then, trading at €1611 in London on Tuesday. "Gold is continuing to lack support from physical gold demand in Asia," says Germany’s Commerzbank in a note. "Swiss trade data had revealed last week that gold demand in India and China was […]

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* Palladium to test $2,600/oz by mid-2021 -UBS * Interactive graphic tracking global spread of coronavirus: here (Updates prices) By Eileen Soreng Oct 27 (Reuters) – Gold prices rose on Tuesday as a weaker dollar and a fresh wave of coronavirus infections threatened to further slow down a global economic recovery from the COVID-19 pandemic, bolstering bullion’s safe-haven appeal. Spot gold was 0.1% higher at $1,903.16 per ounce by 0801 GMT. U.S. gold futures were steady at $1,906.50. "The resurgence of COVID-19 is leading to a broader risk-off sentiment in global markets and this is supportive of safe-haven assets," said Harshal Barot, senior research consultant for South Asia at Metals Focus. "Investors are clearly not bearish on gold at the moment… Long-term investors continue to hold gold amid the broader uncertainty, be it the U.S. elections or the pandemic," Barot added. Many countries, including the United States, Russia and […]

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( Kitco News ) – Gold is still moving sideways into the US session. The histogram on the right-hand side of the chart shows the amount of volume that has been traded at what price and now a large peak is being formed near $1905.9 per ounce. As suggested yesterday the price is now finding resistance at the bottom of the flag type structure. There was not a significant test of the purple resistance line but if the bulls are to take control of this market it would need to be broken. On the downside, the next support remains at the blue line near $1885 per ounce. Silver is also struggling at the area where most contracts […]

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LINGMAN LAKE TARGET MAP TORONTO, Oct. 27, 2020 (GLOBE NEWSWIRE) — Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce a significant update to its gold assay results from its Exploration program. The update details the relationship of the areas sampled from its Exploration program conducted in September, 2020, as reported in a press release dated October 21, 2020. “Given the known relationship of the Lingman Lake Mine gold zones to the north granite-volcanic contact, our exploration strategy was simple, stake this contact regardless and then explore later. We are excited that the results of this past summers field program have proved the significance of this contact. We now have target areas dispersed along 20.2 kilometers of strike length. With these results, we at Signature are confident that the potential for significant discoveries are extremely high with further exploration. Those areas […]

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