1. Gold prices are sharply up in midday U.S. trading Thursday, near the daily highs, and are closing in on the recent record highs. Silver prices are modestly higher. More technical buying is featured in both metals, amid bullish charts. June gold was last up $27.10 at $2,239.90. May silver was last up $0.198 at…
1. The gold market remains under pressure but continues to hold support above $2,150 an ounce even as the U.S. housing sector shows some signs of stabilization as construction of new homes picks up. However, gold surged above $2,200 an ounce this week for the first time as investors grew more confident about the Federal…
Recently, an eminent gold adviser whom I know and have a high regard for, stated that holders of precious metals would be well-served by keeping their metals in a remote location, saying, “distance equals security.” (He lives in the US and recommends storage in New Zealand, as it’s as far away from him as possible.)
1. Gold’s new high signals global central banks are likely accumulating the precious metal to diversify away from the dollar, as persistently large fiscal deficits threaten to erode its real value and lead to more inflation. Gold’s move has been broad as well as pronounced with the precious metal making 50-year highs versus three-quarters of…
1. The gold market is seeing solid follow-through buying activity following last week’s record closing price. The precious metal has pushed above $2,150 an ounce, and according to one market analyst, it has room to run. In an interview Jess Felder, founder of the Felder Report, he said he has been looking for gold to…
The Sandcastle – An article by: Jeff Thomas.
1. People invest in gold for many different reasons. Many do so out of concern over economic, monetary, or political uncertainty. Others seek a hedge against inflation, a way to protect and preserve the real purchasing power of their savings. There are also those who simply seek some peace of mind, a dependable insurance asset,…
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