Well, after today’s move I would say that there’s a distinct possibility we might see gold spot price at over $3,000 per ounce by the end of the year!
Besides World tensions affecting the price of gold, tomorrow might be the first of a series of Federal Reserve interest rate cuts. It may turn out that interest rate cuts drive down the value of the dollar and thereby increase the value of gold. (more…)
The spot gold price dropped around $74.50 per ounce today, April 22nd, 2024.
This represents a decrease of roughly 1.66% compared to yesterday’s price. This huge one day price drop is really surprising when one considers that gold remains one of the best investments so far in 2024! (more…)
Yes, if you’ve been reading my past post you know that it was just a few days ago, in my prior post I said that gold had said a new record high price, that was at that time $2,349.10.
gold bar
Well today, gold said another new high price, and is now at $2,367.20 it was up $16.20 on today’s session.
Many people have been wondering why gold is all of a sudden on a major move up. Well, for anybody keeping up with the latest news, the reason should be quite clear. It seems gold always moves up in times of crisis, economic instability and naturally a falling dollar. Today, unfortunately we’re seeing all of these occur, and these are the reasons that gold is gone to new highs. (more…)
The consensus on the value of gold is a bit mixed right now (March 30th, 2024).
As of yesterday, March 28th, 2024, the spot price of gold was around $2,234.10 per troy ounce. (more…)
Lackluster performance of gold price
With all the chaos in the world today you would expect the spot gold price to be way up. Considering that some people believe we’re the closest we’ve ever been to World War III, personally I would think we would be experiencing $3,000 Plus on the spot gold price!
But, what do I know I’m just an Arizona weekend gold prospector?
Many central banks all around the world own gold. In fact, since the late 90s, central banks around the world have been net buyers of gold.
That wasn’t true before that. Coincidentally, that is also when the gold price bottomed ended that long bear market and began a massive, epic bull-market leading into a bubble in the late 2000s. (more…)
Bloomberg recently published a piece called, ‘The Gold Market’s Great Migration Sends Bullion Rushing East.’
The article notes that China has imported 160 TONS of gold since April, India has added 80 tons, Turkey 62, and the list goes on. Is the U.S. — or other Western nations — selling gold to China? And if so, why wouldn’t we be buying it, instead? (more…)
On the markets today the gold price plunged do a two year low! Gosh, it was just March of this year that gold spiked up the over $2,000 an ounce, and yet, today is closed at a new two-year ago below $1,700 per ounce!
Fantastic interview! Love the quote “Mr Powell has to feel like a porcupine in a balloon factory”.
The conflict in Eastern Europe is likely to be protracted, and energy prices will respond by rallying even higher from current levels, said Pierre Lassonde, chairman emeritus of Franco-Nevada and CEO of Firelight Investments.
“I think that Mr. Putin calculated that this was going to be an easy, quick win for him, to just roll into Ukraine and essentially put Humpty Dumpty back together, which was what he was trying to do. His plans are not turning out exactly as he had wished. With the Germans now changing tack and saying, we’re going to provide military help, that has changed the possible outcome of this war quite dramatically. The longer it lasts, the more profound the impact is going to be, particularly on the energy market. If this goes on for two, three weeks, a month, I think you’re looking at $200 oil,” Lassonde told Michelle Makori, editor-in-chief of Kitco News on the sidelines of the BMO Global Metals & Mining Conference. (more…)
Russian invasion creates extreme volatility for gold and silver prices.
Gold prices today witnessed a volatile roller coaster with a tremendous price swing of almost $100 over the last 18 hours of trading. (more…)
