The fundamental factors which have taken gold pricing from $1460 in March, to within four dollars of $1800 per ounce this week are still present, and they continue to be highly supportive of gold prices. First and foremost, and at the root of other fundamental issues is the global Covid – 19 pandemic which is now in its fourth month. In that short period of time the total number of reported cases globally has swelled to 9,649,299, resulting in the loss of 487,800 souls.
The pandemic resulted in businesses globally shutting down as countries went into a lockdown mode to slow the spread of the... Read more
Gold futures traded to a new yearly high in London last night, when for a brief moment the most active August contract reached $1796.10. This is the highest value gold has attained since 2012.
But that was to be short-lived. Gold prices began to selloff sharply just prior to the open of New York markets. By the time trading reached New York gold futures had traded off of their highs and opened at $1784.40. Even the opening price of gold today in New York was to be short-lived. As of 4:15 PM EST gold futures are currently down by $10 and fixed at $1772 per ounce.
However, the real story... Read more
Gold futures had solid gains today closing above the highest close in 2020. On April 14 of this year gold hit an apex as it reached the highest intraday high for the year when it traded to $1788, and backed off on the close. On that day not only did gold pricing reach the highest intraday price, it also closed at the highest level this year, closing at $1769 per ounce.
Today gold closed near its high of $1786.10. As of 4:15 PM EST gold futures basis the most active August contract is trading up by $18.20 (+1.03%) and is currently fixed at $1784.60. today’s trading range took pricing just $1.... Read more
Gold pricing surged to higher ground today, as renewed concerns about a second wave of the pandemic triggers concerns leading to safe haven demand.
According to the Associated Press and Time magazine, the World Health Organization (WHO) on Sunday, reported “the largest single-day increase in coronavirus cases by its count, at more than 183,000 new cases in the latest 24 hours.” The WHO reported the largest single-day increase in COVID-19 cases by its count, at more than 183,000 new cases in the latest 24 hours.
Time reported that, “The U.S. has the world’s highest number of reported... Read more