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Signs Are Silver Bull Market Is Consolidating

Posted on 11 August 2016 by VRS  |  Email |Print

Having hit a target, silver has formed what is believed to be an intermediate top over the past five weeks or so, which it should soon start to descend from, says technical analyst Clive Maund.
On its three-month chart, we can see this presumed topping pattern started with the appearance of a prominent “Gravestone Doji” or “Shooting Star” candlestick early in July, with its negative implications being amplified by its having occurred on very high volume. While moving averages are in bullish alignment, the now yawning gap between the 50-day and 200-day makes a correction likely………………………………………..Full Article: Source

Platinum metals join the precious rally

Posted on 11 August 2016 by VRS  |  Email |Print

Demand from car producers means sector fundamentals are supportive. Implied benchmark borrowing costs dribble ever lower. The 10-year gilt yield fell through 0.55 per cent amid the Bank of England’s fresh largesse.
Meanwhile, the dollar’s latest rally seems to have stalled. This is a good environment for gold. By mid-session on Wednesday, the yellow metal was back above $1,350 an ounce and eyeing the two-year high of $1,375 hit last month. Its rally has energised the whole precious metals sector. Silver is back above $20 an ounce and the platinum group metals are joining in the fun………………………………………..Full Article: Source

Bullish prediction put gold price at US$1,500 by year end

Posted on 10 August 2016 by VRS  |  Email |Print

Despite the global mining industry witnessing three continuous years of slump arising mainly from the plummeting commodity prices, especially gold, latest bullish prediction has it that gold is likely to hit US$1,500 by close of the year.
According to General Secretary of the Mineworkers’ Union, Prince William Ankrah, the upward surge is certainly good news for the industry even though bearish commentary ascribes the recent jump to two factors, namely; the British exit from the EU, and the quantitative easing by the US Federal Reserves, which they posit could be short-lived………………………………………..Full Article: Source

Gartman Still Bullish Despite Lower Gold Price Post-Jobs

Posted on 10 August 2016 by VRS  |  Email |Print

One veteran gold investor remains bullish on the metal, especially in non-U.S. dollar terms, even though gold is still trading lower since jobs data Friday turned sentiment toward the U.S. economy more positive. Dennis Gartman of the popular newsletter The Gartman Letter said the employment data was “demonstrably less strong” than it appeared to be.
“Let’s say this was a strong number, much stronger than people anticipated, but there are some circumstances incumbent in it that reduce that number or reduce the bullishness that most people want to put into it,” he noted………………………………………..Full Article: Source

This is another important step in the modernisation of the gold market

Posted on 10 August 2016 by VRS  |  Email |Print

The London Metal Exchange plans to broaden its scope to take advantage of the lucrative world of precious metal trading through a suite of exchange-traded and centrally-cleared precious metal products.
To be called LMEPrecious, the initiative is a collaboration between the LME and World Gold Council, with support from Goldman Sachs, ICBC Standard Bank, Morgan Stanley, Natixis, OSTC and Societe Generale. LMEprecious will host spot, daily and monthly futures, options and calendar spread contracts for gold and silver. It is likely to include platinum and palladium contracts down the line………………………………………..Full Article: Source

Further weakness seen in Gold in coming days

Posted on 10 August 2016 by VRS  |  Email |Print

Citi Research cautions that gold could fall some more in the coming days after Friday’s stronger-than-forecast U.S. employment report showing 255,000 new jobs in July.
Gold prices fell immediately after the report as the U.S. dollar rose and traders factored in an increased possibility of a Federal Reserve rate hike. In past years, negative moves in gold post payrolls have tended to fade in the days following the data print, as shown by average cumulative returns of 0.5% in the three days following NFP Fridays on which gold returns were negative from 2004 to present, Citi added………………………………………..Full Article: Source

Will Indian gold consumption recover?

Posted on 10 August 2016 by VRS  |  Email |Print

How India will address issues that have roiled the market this year will be the question many will ask at this week’s Indian International Gold Convention in Agra. Several political and economic issues this year threaten the country’s position as one of the two leading gold-consuming nations – the other is China.
Last year, India consumed 668.5 tonnes of jewellery, according to Metals Focus’ annual report, up six percent from 632.2 tonnes in 2014 and 615.7 tonnes in 2013. This compares with 753.4 tonnes in China and overall global consumption of 2,397 tonnes………………………………………..Full Article: Source

Gold Rush Fuels ‘Best Year Ever’ for Precious Metals Funds

Posted on 10 August 2016 by VRS  |  Email |Print

Investors worldwide have poured a total of $51 billion into commodity-focused ETFs and similar investment products, Barclays estimates. The bulk of that total, $28.8 billion, went to precious metals funds. Last summer, the commodities sector was frozen in a half-decade long bear market with few signs of a thaw in the near future.
Now, it’s hot once again, with gold and silver funds set to see record-breaking inflows of cash. “Precious metals, and gold in particular, have been the most favored commodity sector,” according to a recent report from Barclays, which estimated flows into and out of commodity funds worldwide………………………………………..Full Article: Source

Why Silver Prices Could Crash Soon if They Don’t Break Out of This Range

Posted on 10 August 2016 by VRS  |  Email |Print

From Taki Tsaklanos: with silver prices at a critical juncture, we’ll soon get confirmation of whether the metal is in a cyclical bull market or a secular bear market. Silver has acted very strong in 2016. However, silver miners have been the real deal.
We observe some potentially concerning facts when it comes to the metals. First and foremost, the whole world is favoring precious metals, which is, from a sentiment point of view, a red flag. From a chart perspective, we see that silver has reached an incredibly important area right. It is no surprise that three trendlines of secular importance coincide within that area………………………………………..Full Article: Source

The victory for gold bulls is only just beginning

Posted on 09 August 2016 by VRS  |  Email |Print

The expansion of unconventional monetary policy will feed demand. Gold prices have rallied more than 30 per cent since the lift-off in US interest rates in December. A sharp reversal in pricing, sentiment and positioning driven by a myriad macro and micro factors has left the gold bears and bulls as polarised as ever.
The bearish camp, which has featured prominent and respected analysts like Goldman Sachs, tends to have a constructive view on the US dollar, the ability to raise interest rates, normalise global monetary policy, and generally a benign view on the global economy and inflationary risks………………………………………..Full Article: Source

Gartman Still Bullish Despite Lower Gold Price Post-Jobs

Posted on 09 August 2016 by VRS  |  Email |Print

One veteran gold investor remains bullish on the metal, especially in non-U.S. dollar terms, even though gold is still trading lower since jobs data Friday turned sentiment toward the U.S. economy more positive. Dennis Gartman of the popular newsletter The Gartman Letter said the employment data was “demonstrably less strong” than it appeared to be.
“Let’s say this was a strong number, much stronger than people anticipated, but there are some circumstances incumbent in it that reduce that number or reduce the bullishness that most people want to put into it,” he noted………………………………………..Full Article: Source

Gold Back to Futures on London Metal Exchange After Thirty Years

Posted on 09 August 2016 by VRS  |  Email |Print

Three decades after London’s exchange-traded gold contract flopped, it’s coming back. The London Metal Exchange, along with the World Gold Council and a group of banks and trading firms, are starting a new venture called LMEprecious, which will introduce centrally-cleared gold and silver contracts in the first half of next year, and later add platinum and palladium, according to a joint statement.
The LME is moving into gold to capture part of the $5 trillion over-the-counter market in London, the global hub for trading the metal, as regulators push for more regulation over commodities trading and centralized clearing………………………………………..Full Article: Source

Silver Prices Could Soar to $22 If This Happens in September

Posted on 09 August 2016 by VRS  |  Email |Print

Since the start of 2016, silver prices have seen a huge rally. Silver is the best-performing precious metal, returning 47% so far this year. That outpaces gold prices, which are up about 26% over the same period. Since the gold/silver ratio was in silver’s favor going back about five months, I told you the ratio would see a correction that would let the silver price outpace the gold price. We saw that happen over the last two weeks.
But the price of silver may have gotten a little ahead of itself relative to gold. I highlighted that idea for you two weeks ago, and silver has seen violent swings since then………………………………………..Full Article: Source

Gold Stocks Are In A Bull Market: How To Make It Work For You

Posted on 08 August 2016 by VRS  |  Email |Print

Gold and gold mining shares have reversed and are showing signs of having entered a sustainable bull cycle. Gold miners will make for excellent medium-term investments, although some companies will outperform. We outline how to pick these outperformers and to profit from them.
Gold is in a bull market. We believe that gold has been in a secular uptrend for most of the 21st century, although it is clear that gold experienced a cyclical decline that began in 2011……………………………………….Full Article: Source

Gold Price Will be ‘Twitchy’ for Next Quarter (Video)

Posted on 08 August 2016 by VRS  |  Email |Print

Randgold Resources Ltd. reported an 8.5 percent drop in second-quarter profit after operational problems at two of its African mines led to a decline in gold output. Net income fell to $49 million from $53.6 million a year earlier, The Jersey, Channel Islands-based company said in a statement on Thursday.
Gold production slid 6.2 percent to 281,494 ounces. Randgold said full-year output will be in the lower half of its 1.25 million to 1.3 million-ounce target range. Production dropped after a milling circuit breakdown at its Tongon mine in Ivory Coast and technical challenges at its Kibali mine in the Democratic Republic of Congo. “We had a difficult quarter,” Chief Executive Officer Mark Bristow discusses with Bloomberg’s Anna Edwards and Manus Cranny on “Countdown.”……………………………………….Full Article: Source

Good US jobs news hits gold price

Posted on 08 August 2016 by VRS  |  Email |Print

Gold prices extended losses on Friday after a better-than-expected jobs report dented safe-haven demand and increased concerns that the Federal Reserve could raise interest rates in coming months.
Gold for December delivery settled down 1.7 per cent at $US1344.40 a troy ounce on the Comex division of the New York Mercantile Exchange, its biggest one-day loss since May 24. The US economy added 255,000 jobs in July, beating economists’ expectations of 179,000 and signalling that the labour market is on strong footing………………………………………..Full Article: Source

Gold price rally sparks $50 billion of commodity investments

Posted on 08 August 2016 by VRS  |  Email |Print

Investors poured just under $51 billion into commodity markets during the first seven months of the year according to new research from UK investment bank Barclays Capital. That was the largest inflows since 2009.
The rise in commodity values combined with the new money invested in the sector saw a $74 billion spike in the value of commodity assets under management since the start of the year. The positive investment flows in 2016 came largely on the back of gold investments with precious metals representing almost $30 billion of total inflows in the first seven months………………………………………..Full Article: Source

Why a brewing global economic storm is turning gold into the perfect trade

Posted on 05 August 2016 by VRS  |  Email |Print

Gold is poised to benefit from a “perfect storm” of fewer viable investment alternatives and bigger risks, according to an industry group that is the sponsor of one of the world’s biggest gold exchange-traded-funds.
Analysts have interpreted weak Japanese government bond demand—such as that seen for a 10-year auction earlier this week—as a sign that investors are losing faith in “unconventional monetary policies,” said the World Gold Council in its August monthly report. “In this environment, we believe investors are using gold to hedge portfolio risk as they add more stocks and low quality bonds to their asset mix,” said the World Gold Council………………………………………..Full Article: Source

Silver Trouncing Gold Signals Bull Market May Continue

Posted on 05 August 2016 by VRS  |  Email |Print

An ounce of gold buys the least amount of silver since 2014, which may signal to some investors that precious metals are set for further gains. In a bull market for precious metals, silver usually outperforms gold, and the reverse tends to be the case in a bear market.
The ratio between the two fell to the lowest in three decades in 2011 when gold climbed to a record. Silver may continue to outperform its sister metal into 2017, according to Georgette Boele, a currency and commodity analyst at ABN Amro Bank NV………………………………………..Full Article: Source

Going for Gold: Price of Bullion Surges as China and Russia Amass Precious Metal

Posted on 05 August 2016 by VRS  |  Email |Print

China and Russia are steadily accumulating gold as they seek to reduce dependence on the US dollar, financial information website Marketwatch reported. Russia and China’s policy of buying gold has helped the price of the precious metal to reach its highest level for more than two years, according to financial information website Marketwatch.
On August 2 the price of gold future contracts for December delivery closed at $1,372.6 per troy ounce, their highest level since March 2014. “China and Russia, the world’s No. 1 and No. 3 producers, are catching up to the big industrial countries in stocks of bullion in their official reserves,” remarked Marketwatch analyst David Marsh………………………………………..Full Article: Source

‘A perfect storm’ is making gold one of the hottest assets on the planet

Posted on 04 August 2016 by VRS  |  Email |Print

“A perfect storm” in markets has left investors scrambling to add gold to their portfolios for protection, according to the World Gold Council. Investors have another prime and relatively safe choice in the government bonds of developed markets, but that has been compromised by “unconventional monetary policy,” the council said in its market update for August.
The yields on developed-market government bonds have trended lower as demand has risen. Sovereign authorities like the European Central Bank are stoking this demand through their bond purchases, which are pushing down yields………………………………………..Full Article: Source

Gold near 2016 high on haven demand

Posted on 04 August 2016 by VRS  |  Email |Print

Gold prices traded near their highest levels this year on Wednesday as investors sought havens on increasing concerns over global growth. Gold hit a high of $1,367 a troy ounce this week, just shy of its year high of $1,374.71 reached on July 11, before falling back to $1,357.40 late on Wednesday. The precious metal is up 28 per cent this year.
The price of gold has been driven by buying of gold exchange traded funds, which are backed by holdings of the metal. The funds’ holdings of the metal are at their highest level since July 2013, according to data compiled by Bloomberg………………………………………..Full Article: Source

Gold is glittering … and may soar if Trump wins

Posted on 04 August 2016 by VRS  |  Email |Print

Gold prices are up nearly 30% this year. The yellow metal has been shining due to worries about the health of the global economy and continued concerns about the value of paper currencies in a world where interest rates around the world are extremely low - and, in some cases, negative.
Gold often does well when investors are nervous. There’s been an even more ferocious rally in some other precious metals. Silver, for example, is up nearly 50% this year. At times of unease, a physical hunk of metal is something tangible that investors can hold and touch - and help allay some fears about deflation, stagnant economic growth and political uncertainty………………………………………..Full Article: Source

2016 Gold Mining Margins Jump 150%

Posted on 04 August 2016 by VRS  |  Email |Print

Gold Mining shares slipped from 3-year highs as bullion prices stalled near mid-July’s two-year Dollar highs on Wednesday, while Asian stockmarkets closed sharply lower once more but Japanese government bonds steadied from the last 3 days’ sell-off.
Western equities also stabilized as European banking shares rallied. US crude oil held below $40 per barrel. Silver retreated 1% from yesterday’s pop to 1-month highs at $20.78 per ounce. “Gold prices have improved, but gold miners do not yet believe in its longevity,” CNBC quotes analyst Alexander Hacking at US financial services giant Citi………………………………………..Full Article: Source

What’s Next for Silver Prices in 2016 After the Fed’s Latest Fumble

Posted on 04 August 2016 by VRS  |  Email |Print

It wasn’t surprising the U.S. Federal Reserve announced on July 31 it was keeping interest rates unchanged, sending silver prices soaring 3.8% that day. But if you missed out on those gains, don’t panic. Money Morning Resource Specialist Peter Krauth projects silver prices in 2016 will climb even higher.
Today, we’ll share Krauth’s prediction. But first, we wanted to make sure Money Morning readers understand why the Federal Reserve has such a big impact on the price of silver. When the Fed raises interest rates, precious metals like gold and silver are seen as less desirable investments………………………………………..Full Article: Source

Gold Price Is Now On Its Way To All-Time Highs

Posted on 03 August 2016 by VRS  |  Email |Print

During the 70s bull market, gold went from $35 to $195 in the first phase. That was a 458% increase. The first phase of the current bull market took gold from $252 to $1920, which made for a 661% increase.
At first glance, it would appear that the current bull market outperformed the 70s one. However, it only took about five years (1970 to 1975) to get the 458% increase, compared to the roughly ten years and five months it took to get the 661% increase. If the performance of the current bull market actually matched that of the 70s, then prices should have risen about 1000%. ……………………………………….Full Article: Source

Gold price jumps to highest since March 2014

Posted on 03 August 2016 by VRS  |  Email |Print

On Tuesday, gold made the most of a weaker US dollar and expectations of an extended period of ultra-loose monetary policy in the US and negative interest rates around the globe, jumping the highest since March 2014.
Gold futures in New York for delivery in December, the most active contract, added over 1% to a midday high of $1,374.20. The December contract hit an intra-day high of $1,384.40 a month ago, but on a closing-level basis for the most active contract, gold settled at a near two-and-half year high on Monday according to FactSet data. Year to date the metal has gained 29.6% or more than $310 an ounce………………………………………..Full Article: Source

Surprising Drivers Of Gold: How To Position Yourself

Posted on 03 August 2016 by VRS  |  Email |Print

Brexit has had an unexpected impact on the stock market. The FOMC market was essentially a win-win for gold. On a risk-adjusted basis, long GDX and short GLD makes sense.
The number of factors impacting the movement of gold - as represented by the SPDR Gold Trust ETF - is often too numerous to count. Furthermore, the impact of the most important factors on the price of gold change rapidly, in terms of both importance and, on occasion, in terms of direction………………………………………..Full Article: Source

Platinum, Palladium May be New Focus in Precious Metals Rally

Posted on 03 August 2016 by VRS  |  Email |Print

Gold prices have rallied sharply this year, but it may be time for other precious metals to shine. According to some analysts, platinum and palladium are starting to look more attractive to funds hoping to ride the precious metal rally this year.
The two metals recently closed out their best months in years. Platinum for October delivery rose 12% to $1,150.60 last month, its largest monthly percentage increase since January 2012. Palladium for September delivery rose or 19% to $709.75 for its highest monthly percentage increase since February 2008………………………………………..Full Article: Source

Trump as President Means Gold’s Going Higher, Mint Forecasts

Posted on 02 August 2016 by VRS  |  Email |Print

A Donald Trump victory in the U.S. presidential election in November would probably lift gold prices, according to the mint that refines almost all the bullion output from one of the world’s biggest producers.
“If someone like Donald Trump does get himself elected, it will stimulate some fear within the economy as to where things are going,” Richard Hayes, chief executive officer of the Perth Mint, said in a Bloomberg TV interview. “Trump is very much a protectionist, he is very much for almost ‘Fortress America’.”……………………………………….Full Article: Source

Gold price rally ‘set to continue’

Posted on 02 August 2016 by VRS  |  Email |Print

The rally in gold prices is expected to continue as global uncertainty and volatility persists while economic growth remains weak, former International Monetary Fund deputy head John Lipsky says. In the face of a global outlook based on negative risks and pockets of problems, Australia’s financial system is still rated as one of the most resilient in the world, Mr Lipsky says.
“The happy news for the gold miners is that in the near term the uncertainty is not a bad thing for the gold price,” Mr Lipsky told the Diggers and Dealers Mining conference in Kalgoorlie on Monday………………………………………..Full Article: Source

Gold dollar spot price around $1,350/oz adds to physical buying pain: sources

Posted on 02 August 2016 by VRS  |  Email |Print

The spot dollar gold price found renewed support Monday, following weaker than expected US second-quarter GDP data released late Friday, adding further pressure to the already dismal physical buying conditions in key consumer hubs including India.
Second quarter US GDP disappointed Friday, rising just 1.2% against expectations of a 2.5% gain. “By now it must seem like a familiar storyline. Just at a time when evidence was building that the US economy was in a position for the Fed to again contemplate rate hikes, some weak domestic data or a global event quite quickly scuttle those plans,” ANZ bank said Monday………………………………………..Full Article: Source

Why China and Russia are buying so much gold

Posted on 02 August 2016 by VRS  |  Email |Print

The good news for gold enthusiasts is that China and Russia, the world’s No. 1 and No. 3 producers, are catching up to the big industrial countries in stocks of bullion in their official reserves.
The bad news is that, on present “steady-as-she goes” monthly gold accruals, it will take China and Russia — No. 6 and 7 in the world ranking of global gold reserves — about six years to draw level with the fourth- and fifth-placed countries, France and Italy………………………………………..Full Article: Source

Gold’s M&A spree builds as bullion rally boosts values

Posted on 02 August 2016 by VRS  |  Email |Print

A $US50 billion ($S65 billion) gold-industry deals spree is extending into its third year, even as a surging bullion price makes sealing transactions and valuing mines more difficult. Gold has regained its lustre as investors seek havens from volatile markets and weak interest rates.
While the metal is up about a quarter this year, the value of mergers and acquisitions has soared. The average paid in 133 transactions in the three months to June was $US64 an ounce of gold equivalent in the ground, up from $US36 in the first quarter of 2016, as buyers factor in better long-term price expectations, according to Bloomberg Intelligence………………………………………..Full Article: Source

Palladium Tops Precious Metals Gains as China Car Sales Advance

Posted on 02 August 2016 by VRS  |  Email |Print

Palladium is leaving other precious metals in the dust. The commodity used in pollution-control devises for gasoline-fueled vehicles climbed to the highest since October on Monday. It has jumped 20 percent this quarter, almost seven times the pace of gains for gold. Palladium is benefiting from improving car sales in China and signs of resilience in the U.S. economy, Citigroup Inc. analysts wrote in a report Monday.
Traders aren’t the only ones taking notice. Hedge funds and other large speculators boosted their net-long positions on palladium by 38 percent to 15,281 contracts in futures and options in the week ended July 26, the highest since June 2015, government data released three days later showed………………………………………..Full Article: Source

Platinum, palladium prices are exploding

Posted on 02 August 2016 by VRS  |  Email |Print

While most industrial metals and minerals have enjoyed a good week and month, including unlikely candidates such as thermal coal and iron ore, precious metals is still where the action is. After underperforming gold in 2016, platinum has now overtaken the yellow metal with a year to date advance of a shade under 34%.
A chunk of those gains came just the last week with the spot price climbing 6%. The precious metal was up 12.7% in July and started August with a bang to exchange hand $1,162 an ounce in early afternoon trade on Monday, making it the best monthly performance since 2012………………………………………..Full Article: Source

Gold all set to rise further

Posted on 01 August 2016 by VRS  |  Email |Print

Brexit shockwaves apart, the US too is not in a sweet spot. Moreover gold is backed by strong fundamentals. It looks like gold may stay in the limelight for more time. There is still room for investors to make some money. Its strong fundamentals and the negative news from global economy should help.
Just about when it seemed like the EU was getting better, Brexit has thrown new challenges. In December last year, when the Federal Reserve effected the first rate hike, the US appeared solid, but now, with barely 1.2 per cent growth in GDP in the second quarter, there are doubts over its prospects too. Last week, gold prices rallied to $1351, up 2.16 per cent for the week. The metal’s year-to-date returns stand at 27 per cent………………………………………..Full Article: Source

Gold’s $50 Billion M&A Spree Builds as Rally Boosts Values

Posted on 01 August 2016 by VRS  |  Email |Print

A $50 billion gold-industry deals spree is extending into its third year, even as a surging bullion price makes sealing transactions and valuing mines more difficult. Gold has regained its luster as investors seek havens from volatile markets and weak interest rates. While the metal is up about a quarter this year, the value of mergers and acquisitions has soared.
The average paid in 133 transactions in the three months to June was $64 an ounce of gold equivalent in the ground, up from $36 in the first quarter of 2016, as buyers factor in better long-term price expectations, according to Bloomberg Intelligence………………………………………..Full Article: Source

2015’s most accurate gold price forecaster turns huge bull

Posted on 01 August 2016 by VRS  |  Email |Print

Since the global financial crisis the relationship between interest rate expectations and the gold price has only become tighter and these factors have created a bullish environment for gold and is the main reason many analysts are upping their forecasts for the metal.
The winner of the 2015 London Bullion Market Association long running forecasting competition, Bernard Dahdah of French investment bank Natixis, got it exactly right last year with a forecast of an average $1,160 gold price in 2015………………………………………..Full Article: Source

Gold Bull Market or just a Bear Market Rally?

Posted on 01 August 2016 by VRS  |  Email |Print

While many are touting a new bull market in Gold, and Silver for that matter, history suggests otherwise. When we look back at the history of commodity prices for the past two centuries we observe generally short bull markets followed by longer bear markets. Since Gold was fixed for most of this period a chart going that far back would be of little use.
Notice for over 200 years commodities remained in a trading range. Demand drove prices up, then oversupply brought prices right back down. This all changed when the US went off the Gold standard in 1971. Commodity prices soared, along with Gold, and the bull/bear cycles became more uniform………………………………………..Full Article: Source

Go for Gold, or Not Really Sold?

Posted on 01 August 2016 by VRS  |  Email |Print

For some readers, gold is a necessary piece of the puzzle; for others, it’s no better than iron pyrite. Gold’s shimmer has been bright this year. The price of gold has jumped 26% for the year to date through July 28, and the typical fund in the equity precious metals Morningstar Category is up 109% over the same period.
And investors have channeled more than $660 million into precious metals funds in the first half of 2016 (through June 30). We recently asked Morningstar readers whether they had an allocation to gold in their portfolio, and if so, why. On the flip side, we also wanted to hear from those who had no interest in gold. If readers claimed they wouldn’t touch it with a 10-foot pole, we wanted to know why not………………………………………..Full Article: Source

HSBC Positive On Silver Going Into 2017

Posted on 01 August 2016 by VRS  |  Email |Print

Silver is expected to stay “well-bid” in the second half of 2016, according to an HSBC Global Commodities report. Looking at supply and demand economics, one side of the equation is anticipated to remain consistent while the other is expected to rise. The positive HSBC comments come over three months after BAML made similar comments on the silver price breakout being real.
After taking a breather much of July, muting the performance of momentum models that had been long silver and gold, the metal has recently been on a continuation pattern and the trend is once again moving higher………………………………………..Full Article: Source

Trump And Other Reasons This Gold Bull Market Has Room To Run Higher

Posted on 29 July 2016 by VRS  |  Email |Print

Looking more Las Vegas casino than Oval Office, the stage on which Donald Trump delivered his nomination acceptance speech last week was all gold, from the stairs to the podium, completely befitting of his showman-like style.
Whether you support or oppose Trump, it’s time to face reality. This is really happening, and we should all brace ourselves for what will surely be one of America’s messiest, ugliest general election seasons………………………………………..Full Article: Source

How Donald Trump Changed My Mind About Gold

Posted on 29 July 2016 by VRS  |  Email |Print

If you poke around on the internet, you’ll find a lot of people who have criticized me for being a “gold hater.” Here are two different pieces that took me just a few seconds to find. There are plenty of tweets out there saying the same thing.
These people have been basically right. Over the years, I’ve said a lot of bad stuff about gold — how it’s a lousy currency, how it’s just a rock that shouldn’t have any value, how love of it is primitive and irrational, how it has no justifiable basis in the economy. But I’m changing my mind, and it’s all due to Donald Trump………………………………………..Full Article: Source

Platinum, palladium chase down gold’s stellar showing

Posted on 29 July 2016 by VRS  |  Email |Print

The lesser known precious metals have had a stellar month, catching up with gold. Platinum has eclipsed gold’s performance this year and palladium is close to doing so, after demand from the car industry and investor appetite sent the two precious metals on a blistering rally this month.
Palladium is set for its best monthly performance in over eight years, leaving it just shy of the 26 per cent rise in gold this year. Platinum and palladium, which are used in auto catalysts, are trading at their highest levels in more than a year………………………………………..Full Article: Source

Platinum takes limelight from gold with best month in four years

Posted on 29 July 2016 by VRS  |  Email |Print

A surprise rally in gold and silver caught the eyes of investors in the first half of the year. Now, platinum and palladium are shining brighter. Platinum is up 12% in July, putting prices on track for the best month since 2012. Palladium is even better, jumping 17%, the most since 2008. By comparison, gold added less than 2% in July as it lost momentum after gains in the first half.
The two lesser-known precious metals, used in devices that control toxic car emissions, are benefiting from better auto sales in China, concern over labour in South Africa and loose monetary policy from central banks around the world………………………………………..Full Article: Source

Does Citigroup See Brightness in the Gold Market?

Posted on 29 July 2016 by VRS  |  Email |Print

Further to its outlook on gold, Citibank is analyzing potential rate hikes by the Federal Reserve over a period of time to get clues on gold’s direction. The fluctuations in the US dollar are also being considered in the bank’s study of gold prices.
In the bank’s research report, it has listed three possible scenarios: In its “base-case” scenario, the bank points out a 65% chance that gold’s price will be $1,325 per ounce in 3Q16 and $1,280 in 4Q16. It has considered only one rate hike before the year’s end. The weakness of the dollar and the restoration of depressed Asian demand could also provide a helping hand to gold………………………………………..Full Article: Source

Here’s Why You Should Own Both Gold and Silver Right Now, Despite Pullback

Posted on 29 July 2016 by VRS  |  Email |Print

Under normal circumstances, when an investment is up double digits in just seven months, it’s a good time to sell. But with gold and silver, up 24% and 41%, respectively, so far this year, this may just be the beginning of a much bigger rally.
Of course, with that big of a jump in a short period of time, either one might be due for a pullback (more on that later). But even if the price of either falls, it will likely just be a short-term consolidation. Both gold and silver still have a long way to run. As we’ve previously explained, it’s not unreasonable to think gold prices could rise by as much as 500%. And, historically, when gold climbs, silver climbs even higher………………………………………..Full Article: Source

BNP Paribas Raises Gold-Price Forecast But Sees New Downtrend

Posted on 28 July 2016 by VRS  |  Email |Print

There is at least one more bear in the woods as analysts at BNP Paribas increase their gold -price forecast for 2016 but look for the price to trend lower through the rest of the year and 2017.
In an email response to Kitco News regarding the bank’s new forecast released late last week, Harry Tchilinguirian, global head of commodity markets strategy, said the strong performance during the first half of the year forced them to raise their base prices for 2016 and 2017, but “the path of least resistance is lower and not higher.”……………………………………….Full Article: Source

Gold Moves Higher After Fed Statement

Posted on 28 July 2016 by VRS  |  Email |Print

Investors who stepped to sidelines ahead of central bank meeting will likely jump back in, strategist says. Gold prices traded higher Wednesday after the Federal Reserve left interest rates unchanged but hinted at the possibility of an increase in the coming months.
Gold for December delivery was recently up 0.9% at $1,339.50 a troy ounce on the Comex division of the New York Mercantile Exchange in electronic trading. Prices settled up 0.5% at $1,334.50, but traded as low as $1,323 after the Fed statement was released………………………………………..Full Article: Source

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