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(Kitco News) With the U.S. election seven days away, gold traders are now in the wait-and-see mode, says TD Securities. "Participants are also evaluating the potential for a fiscal stimulus deal to be struck in the lame duck session — which hinges on the election results," write TD Securities commodity strategists. A blue wave scenario at the polls is likely to offer support to the gold price in the long-term, the strategists add. "A Blue Wave has driven expectations of a lower dollar, as more stimulus fuels a global reflationary wave, but it has also fueled the bear steepening in the Treasury curve. While we think the Fed will mitigate these risks shortly after the election by extending […]

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Attention in the capital markets is strictly focused on whether investors can count on more stimulus measures before the forthcoming U.S. presidential election. Gold is as steady as she goes pre-election, but with rising coronavirus cases, can it tick higher before voters head to the polls?

Per a Kitco News article , “Investor demand is holding relatively steady, in line with the recent price action, according to the latest trade data from the Commodity Futures Trading Commission (CFTC). Hedge funds remain active investors in the gold market; however, analysts have noted that nobody is making significant bullish or bearish bets ahead of the Nov. 3 U.S. General Election.”

“With a Biden win increasingly being priced in, some may have decided to step aside until after November 3. Not least considering the memory of 2016 when the Trump win helped trigger a 15% correction in the weeks following the election,” said Ole […]

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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 World Bank is not expecting to see major gold price moves in 2021 as the market has seen extraordinary gains this year, according to its latest commodity report.

Gold prices are stuck in a consolidation patter with prices hovering around $1,900 an ounce as the World Bank noted that prices rose 12% in the third quarter, its eighth consecutive quarter of gains.

"Prices are expected to average 27.5% higher in 2020 and remain broadly stable in 2021 as the global economy recovers," the World Bank analysts said in their October commodity report.

The analysts noted that the precious metals market is being driven entirely by investment demand, which has risen to historic levels so far this year. […]

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When a global pandemic shut down the world in March 2020, markets crashed and rocked the U.S. economy. However, with economic uncertainty comes great opportunity for those who can seize upon the moment. And in the goldfields across North America, the opportunity of a lifetime awaited as gold prices spiked to record highs and the price of fuel, a miner’s biggest expense, bottomed out. In this all-new season of Discovery’s #1 Show, Gold Rush, seasoned gold miners are joined by greenhorn miners eager to forge their own destinies and gamble like never before in pursuit of the greatest pay day of their lives.

Gold miners Parker Schnabel, Tony Beets and Rick Ness take massive gambles this season as they face the worst time crunch ever as the gold fields opened two months late because of COVID-19. And joining Gold Rush this season is ex-special forces medic and greenhorn miner Fred […]

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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, the epidemiological situation does not help Trump at all. People believe that he dealt poorly with the epidemic , and now we even have the resurgence in the number of […]

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Gold prices moved higher but the price action continued to form a sideways range. The dollar moved lower along with US treasury yields which appear to have broken down below support near the 50-day moving average. A stronger than expected durable goods orders failed to lift yields which weighed on the greenback and paved the way for higher gold prices.

Trade gold with FXTM Technical analysis

Gold prices moved higher but continue to enjoy a consolidative tone. Gold prices edged above resistance near the 10-day moving average at 1,906, which is now seen as support. Additional support is seen near the October lows at 1,872. Resistance is seen near the 50-day moving average at 1,919. Short-term momentum has whipsawed turning negative as the fast stochastic generated a crossover sell signal on the upper end of the neutral range. Medium-term momentum remains neutral as the MACD histogram prints in the black […]

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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) – Investment demand, in an environment of low interest rates and unending uncertainty and turmoil, remains the singular driving force in the gold market, according to analysts at Refinitiv.

In a report last week, the research firm said that physical gold demand fell by 562 tonnes in the third quarter, down 30% compared to the third quarter of 2019. However, dismal physical demand has had little impact on prices as gold pushed to an all-time high above $2,000 in early August.

Commodity analysts at Refinitiv said that gold prices averaged $1,909 an ounce between July and September, up 27% from the second quarter and up 30% from last year.

Although physical demand is expected to continue to struggle, analysts at […]

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Paypal’s endorsement of bitcoin is another step towards wider corporate acceptance of the cryptocurrency

Dan Kitwood/Getty Images Cryptocurrency bitcoin could start to compete with gold as an alternative currency as millennials start to age, according to a note from JPMorgan analysts.

Payment company Paypal’s decision last week to allow customers to buy and sell bitcoin using their Paypal accounts is “another big step towards corporate support for bitcoin”, the client note from JPMorgan managing director for global market strategy Nikolaos Panigirtzoglou said.

Sufficient corporate backing for bitcoin would help “facilitate and enhance over time millennials’ usage of bitcoin as an ‘alternative’ currency”, the note said.Older investors still look to gold as an alternative currency, whereas younger investors prefer bitcoin. Both gold and bitcoin exchange-traded funds have experienced strong inflows this year as young and old investors alike see the case for an alternative currency, Panigirtzoglou wrote.As millennials age, bitcoin could become […]

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Mining Stocks Likely To Endure 20% – 40% Plunge

Since June 2019 (the past 16 months), 8 gold and silver companies that have enjoyed triple-digit gains have been featured in these pages. Among them, one company has even rallied over 1,000% — companies that we’ve been following for 3-4 years have seen 600% and 700% appreciations, while others have been up-listed to the NYSE. Truly, in the past 16 months, we could do no wrong.

Those who were brave enough to look the devil in the eye in March and April and capitalize on the panic – when TV screens the world over were broadcasting people dropping dead on the streets of China – have been able to enjoy generationally-high returns in just 6-8 months — buying the crash was, as it always is, the best opportunity to make sensational returns.

Key lessons in the importance of trading […]

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Comex gold futures moved higher on Tuesday, boosted by a weaker U.S. Dollar and concerns over a second surge in coronavirus cases, although the volume and the trading range were so tight, it was hard to tell if we were witnessing actual buying or just short-covering.

At 20:46 GMT, December Comex gold is trading $1909.00, up $3.30 or +0.17%.

The narrow trading range was also caused by investors shifting their focus on next week’s U.S. presidential election. Democratic challenger Joe Biden leads President Donald Trump in national polls but the race is much tighter in battleground states that determine the election outcome.

The consensus among traders is that a win by Biden will mean massive stimulus on coronavirus relief and infrastructure spending. This should weaken the U.S. Dollar and drive gold prices higher. Longer-term, the market is expected to be well-supported by accommodative central banks.Daily December Comex Gold Daily Swing Chart Technical […]

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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 ) – Consumer prices may be showing muted inflation pressures as the world continues to feels the effects of the COVID-19 pandemic but a major inflation threat is looming on the horizon according to one chief economist. Thorsten Polleit, chief economist at Degussa In a telephone interview with Kitco News, Thorsten Polleit, chief economist at Degussa, said that instead of focusing on consumer inflation, investors need to pay more attention to the growing money supply as this is what is going to general higher inflation for years to come.

Polleit’s comments come as governments and central banks around the world continue to flood capital into financial markets to support the beleaguer global economy. In a […]

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Warren Buffett’s aversion to gold has been well documented. Over the last few decades, he has steered Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B) away from any direct or indirect investments in gold. In 2011, he explained to CNBC’s Squawk Box talk program that “gold is a way of going long on fear”.

This is what The Oracle of Omaha actually said during the talk show program: Basically gold is a way of going long on fear, and it’s been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in the year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money. But the gold itself doesn’t produce anything. Buffett then made a shocking move

In August 2020, Buffett shocked the investing […]

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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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LONDON, Oct. 27, 2020 /PRNewswire/ — The biggest banks in the world are eyeing gold prices of around $3,000 in just over a year. Former Citigroup billionaire Thomas Kaplan predicts $5,000 gold . And even without those predictions, the gold rush is on. Miners are stampeding this single gold rush territory that’s already produced over 40 million ounces of gold. And still has an estimated 68 million+ ounces in the ground, ripe for the taking. Mentioned in today’s commentary includes: Barrick Gold Corporation (NYSE: GOLD ), Franco-Nevada Corporation (NYSE: FNV ), Royal Gold, Inc. (NASDAQ: RGLD ), Eldorado Gold Corporation (NYSE: EGO ), Seabridge Gold Inc. (NYSE: SA ).

Three miners have already descended on the territory, and their success has by now reduced the upside. But the fourth miner in the stampede has seen its shares surge 600%, perhaps because it’s surrounded by major success stories, and there’s a […]

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Getty Images Gold futures early Tuesday were holding steady with U.S. equities seen recovering partially from Monday’s rout, partly caused by worries that rising coronavirus cases globally are resulting in renewed restrictions on business and consumer activity.

Some commodity experts attributed the buoyancy for gold and other precious metals in recent days to the prospects of uncertainty around the 2020 presidential election set for Nov. 3. Expectations that the U.S. may further increase its fiscal deficits, if the elections in America lead to a sweeping victory for Democrats, are viewed as a potential longer-term boost for gold and silver prices.

“The precious metals are pausing ahead of what is arguably the most important event of the trading year—the U.S. elections in one week,” wrote Jim Wyckoff, analyst at Kitco.com.

“Many markets could pause until after the election results are in. Many traders will want to step away from the markets, or take […]

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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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