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.

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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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David Gray/Agence France-Presse/Getty Images Gold futures flipped between small gains and losses Monday, struggling to find haven-related buying support as global equities fell in response to rising COVID-19 cases in the U.S. and Europe.

A stronger U.S. dollar, meanwhile, was seen capping gains for the yellow metal.

Gold for December delivery GOLD was up $2.80, or 0.1%, at $1,908 an ounce on Comex, while December silver SIZ0 was off 26 cents, or 1.1%, at $24.415 an ounce.

“The great gold consolidation continues, with price holding up relatively well this morning and clinging onto support, despite broader market sentiment turning negative and the dollar making decent gains,” said Craig Erlam, senior market analyst at Oanda, in a note. “This hasn’t been the best combination for gold prices this year but they are showing some resilience in early trade.”U.S. stock-index futures pointed to a lower start for Wall Street on Monday, with pressure attributed […]

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Stevie Nicks 24 Karat Gold The Concert EXCLUSIVE: Following its global cinema release last week, event music doc Stevie Nicks 24 Karat Gold The Concert is heading to premium VOD as distributor Trafalgar Releasing looks to employ new release strategies in the pandemic era.

The film will be available to rent online from October 29 at 9am PT at a premium $19.99 price point until November 5 at 11.59 PT via the official website. Audiences will have 48 hours to watch after purchase. The move follows similar PVOD endeavors undertaken by studios during the pandemic such as Universal with Trolls World Tour.

This marks the first such VOD release for event cinema specialist Trafalgar, which has to date relied heavily on theatrical in its business model. The company reduced its output while cinemas were disrupted by the pandemic and is now looking to take its ‘event’ style of releasing into […]

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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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