The moment for gold

July 7, 2016 at 12:12


Gold continues its dream run in 2016 getting boost from global uncertainties post-Brexit. The yellow metal surged to its highest point since March 2014 to touch $1,371.40 an ounce in global markets, thereby registering gains of nearly 30 per cent from the $1060 levels it traded in early January, 2016. Where is gold headed from here? Is it a good time to enter or to add to your hold holding at this price point? Commodity experts believe that gold has enough legs to take it higher and could be a good bet even after the run it has had during the year. In fact, those tracking the metal closely have upped their target and feel that it test $1,500 and ounce levels soon. ...

Silver perspective $22 per oz seen

July 7, 2016 at 12:07


Resource Investing Specialist Peter Krauth expects the price of silver to keep on climbing this year, to more than $22 per ounce. That's another gain of more than 8% from current levels, continuing the strong silver bull of 2016. Krauth cautions that the silver bull may see some short-term volatility, but the investment case for silver prices today is intact. Here, we discuss the volatility and then the fundamentals underlying Krauth's forecast. Silver as a Safe Haven: Brexit and the Aftermath What underlies the silver price forecast? Precious metals are a safe-haven investment and become investor favorites in times of uncertainty. Right now, in the aftermath of ...

Gold in a new phase

July 6, 2016 at 10:10


The price of gold will continue to shoot up in 2016, and has now "entered a new phase" of growth in the post-Brexit world, thanks to a variety of macroeconomic factors. The gold price has increased 24% this year so far. And the risks to the global economy will make it the go-to investment for the rest of 2016, according to UBS strategist Joni Teves in a note circulated to clients on Tuesday. As a result, Teves and her team have increased their annual forecast for gold to an average of $1280 per ounce, compared to $1225 previously. Teves notes that she expects an average gold price for the rest of 2016 of roughly $1340, and in the short-term, gold will likely hi...

Gold Gains on a ‘Perfect Storm’ of Factors

July 6, 2016 at 09:54


Gold jumped to its highest price since March 2014 on Tuesday as investors looked for a safe investment amid continued fallout from the United Kingdom’s vote to leave the European Union. Gold for August delivery settled up 1.5% to $1358.70 a troy ounce on the Comex division of the New York Mercantile Exchange. “We’re seeing people adding to positions,” said Bob Haberkorn, senior market strategist at RJO Futures, adding that buyers are reacting to several factors. While investors remain unsure about the impact of the U.K.’s decision to leave the EU, Mr. Haberkorn said they are also watching comments expected Wednesday from the European Central Bank for signs that t...

China Buyers Drive Silver Prices Higher

July 5, 2016 at 09:00


The price of silver surged to a two-year high on Monday as buyers in China made bold bets in the futures market and scooped up vast volumes of physical metal. Spot silver, the price paid for immediate delivery, rose as much as 6.9% to an intraday peak of $21.132 a troy ounce, its highest value since July 2014, as the Shanghai-traded benchmark futures and physical silver contracts reached their limit. On the Shanghai Futures Exchange, the most actively traded silver futures contract jumped for a fourth straight session on Monday, hitting its 6% daily maximum at opening to reach 4,419 yuan ($663) a kilogram. Monday’s moves were buoyed by investors seeking haven ass...

ISIS begins to circulate own Gold coins

July 4, 2016 at 22:26


Reports coming from Syria and Iraq confirm that ISIS has started issuing its own currency, the “Golden Dinar,” in areas it controls. The currency, which ISIS first unveiled in late 2014, will first be used to trade oil, according to the reports. A thread on a main ISIS forum claimed on Friday that the terror group’s “Finance Ministry” in the Nineveh province, in northern Iraq, organized a meeting two weeks ago with shopkeepers selling gold locally. ISIS announced at that meeting that the group will soon issue its gold currency “in cities like Mosul and Raqqa,” according to users on the terror group’s forum. Others posts on the same platform claimed that the group start...

Global Gold holdings rise 500 tons

July 4, 2016 at 16:07


Global gold holdings have expanded by more than 500 metric tons since bottoming in January in a signal of investors’ rising concern about slowing growth, a Federal Reserve that’s probably on hold and the ructions caused by Britain’s vote to quit the European Union. Assets in bullion-backed exchange-traded funds rose 6.6 tons to 1,959.1 tons on Friday, up from 1,458.1 tons on Jan. 6, according to data . Holdings increased 37 tons last week as investors reacted to the U.K.’s vote, and swelled in five months out of six in the first half. Bullion prices climbed to the highest level in more than two years in June as investors absorbed the implications of the U.K. result,...