Gold has surged 35% this year, driven by geopolitical conflicts, Federal Reserve actions, and strong central bank demand amidst U.S. political uncertainties. Meanwhile, the U.S. economy grew at 2.8% in Q3, lower than expected, while consumer confidence rose significantly. Job openings fell, reflecting a cooling labor market, and concerns over electric vehicle sales persist.
Gold and silver prices are sharply higher in early U.S. trading Friday, following another downbeat economic report that falls squarely in the camp of the monetary policy doves, who want the Federal Reserve to lower interest rates sooner rather than later.
1. Stocks rebounded after their worst week since April. The megacap space rallied, with the Nasdaq 100 up 1.5%. Despite the recent slump that had some on Wall Street bracing for a summer correction, respondents to a survey expect earnings to reinvigorate the S&P 500. Sky-high valuations and seasonal weakness have incited some pullback warnings,…
Gold and silver prices are lower in early U.S. trading Monday, on some routine profit-taking from the shorter-term futures traders after recent good price advances
Based on historical trends and regular seasonal performance, precious metals may be significantly underpriced going into the second half of the year,
Along with gold’s safe-haven appeal, analysts warn investors to watch Asia’s insatiable appetite for the precious metal.
Gold went on a run late last week, setting an all-time record high last Friday and breaking the $2,100 level for a brief time in overseas trading Sunday night.
Investors are seeking out buying opportunities from temporary price dips to add more physical precious metals into their portfolios.
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