The gold price is up another 2% since my last update on May 1st, trading today at $1736/oz USD. Analysts are making bullish predictions for the price almost daily and the ETF inflows have been net positive for the last 20 trading sessions.
It came almost out of nowhere, a black swan event that engulfed the world. As everyone from citizens to governments scrambled to deal with COVID-19, the gold industry was impacted in unprecedented ways as well.
Written by Mark Yaxley, General Manager, Strategic Wealth Preservation. These have become regular weekly updates, which we will continue delivering to you until the precious metal market begins to settle back into normality. Please enjoy these nuggets of information until then. Price Action Gold closed last week at $1484/oz. A week later, the yellow metal…
I was stupefied at what I was reading. A Bloomberg article earlier this month reported that JP Morgan and Citibank were significantly reducing their gold positions or closing them out entirely.
As precious metals investors know all too well, gold and silver prices haven’t moved much for the past 5+ years. And along with that stagnant price environment has come low volatility.