Trump or Clinton are “positive for gold” and prices could rise to between $1,700 and $1,900 per ounce by year end according to Canadian gold mining magnate Rob McEwen. Gold “is a currency that doesn’t have a liability attached to it,”McEwen said Tuesday in an interview with Bloomberg at a gold conference in Colorado Springs.
Central banks have got the economy and markets covered. They know what they’re doing. Their theories are backed up by decades of academic research and expert advice ...
He thinks that gold is “underrepresented in many portfolios as the only money and store of value that has stood the test of time.” He added that at current prices gold is “undervalued.”
You make it sound like JPMorgan is the whole story? Butler: They are, and the best part of that is that they want much higher prices for silver one of these days.
It’s been estimated that the total worldwide value of such contracts equals 150 times the amount of gold in existence in the world ... Uh-oh ... This is why it’s imperative that you purchase only physical, allocated gold.
Gold consolidated after the gains of last week when gold rose 0.25% from $1324/oz to $1328.80/oz. Indeed, it was gold’s second consecutive weekly higher close which is bullish from a technical perspective. Markets being sentiment and momentum driven this could mean the recent correction is over as technical driven traders are likely to take signal from this and go long gold.
As some of you may know, in a previous life I wrote a lot about gold and silver. I took the perspective of someone who was new and curious to the precious metals. I wanted to know more than just how the Fed announcements affected the prices, why demand and supply weren’t enough to predict movements and why history didn’t seem to have taught us any lessons.
“Given the backdrop of one of the most uncertain macroeconomic, systemic, geopolitical and monetary outlooks both the U.S. and the world have ever seen, we are likely to see gold do well in its traditionally seasonal strong period...”
Silver surged 3.5% yesterday rising 65 cents and closing at $20.04/oz and gold rose by 2% or by $23 to close at $1,348.80/oz after poor economic data in the U.S. underlined deepening concerns about the economic and indeed the monetary outlook.
The debacle involving Deutsche Bank's failure to deliver physical gold from the Xetra-Gold exchange traded commodity (ETC) continued on Friday after a press release from Deutsche Bank.
If you can't take delivery of physical gold, you don't own gold. If you cannot hold your gold, you don't own your gold. Possession remains 9/10s of the law.
Paper, digital and financial proxies for gold are not real gold. Hence the importance of owning coins and bars either in one’s possession or in allocated and segregated storage in the safest vaults in the world.
