Gold and Silver Industry & Investing News
Today’s gold and silver market news, curated from the best of GoldSilver's team and around the web. Everything precious metals investors need to know including updates on big price swings, macro analysis, and breaking stories. Check back often or subscribe to get the highlights in your inbox. Monitor live spot prices on our charts page.
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Profit-Taking Halts Gold's Ascent, Geopolitical Tensions Provide Support
After reaching an all-time high of $2,758.37 per ounce on Wednesday, gold experienced a modest decline on Friday due to profit-taking. The precious metal's price fell 0.4% to $2,724.50 per ounce, though its downward movement was limited by persistent geopolitical concerns and the approaching U.S. presidential election.
READ MOREGold Retreats From Peaks But Maintains Bullish Momentum
Gold prices dipped slightly on Friday but remained near record highs as uncertainty surrounding the upcoming U.S. presidential election and escalating tensions in the Middle East fueled safe-haven demand. Despite pressure from a stronger dollar and higher Treasury yields, gold was on track for its third consecutive week of gains, with spot gold rising about 0.2% for the week after hitting a record high of $2,758.53 an ounce.
READ MORETechnical Signals vs. Market Momentum: Analyzing Gold and Silver's Recent Rally
Gold and silver prices have reached record and 12-year highs respectively in October 2024, defying traditional market dynamics by rallying despite a stronger US dollar and higher interest rates. While technical sell signals emerged on Wednesday, the article questions their reliability given the precious metals' recent strong performance and suggests potential trading strategies based on key support and resistance levels.
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"The Obstacle Is the Way" – Mike Maloney & Robert Helms on OPPORTUNITY
In this exclusive interview from the Limitless Expo, Mike Maloney and Robert Helms, host of The Real Estate Guys, dive deep into the mindset ....
READ MOREOil Market Navigates Choppy Waters of Global Conflicts and Political Change
Global oil markets experienced modest fluctuations on Thursday as traders grappled with ongoing geopolitical uncertainties in the Middle East and Eastern Europe. The upcoming U.S. presidential election added another layer of complexity to the market outlook. While oil prices have rebounded slightly this week, they remain volatile due to conflicting factors such as potential supply disruptions and concerns about economic growth and demand. Analysts suggest that these opposing forces may prevent a clear price direction in the near term.
READ MOREElection Outcome Could Swing Bitcoin Price by $40K, Says Crypto Expert
Travis Kling, founder of Ikigai Asset Management, predicts Bitcoin's price could reach $80,000 after the upcoming election. He sees the current market as hedging between these outcomes. Kling also discusses the rise of memecoins as a response to the lack of real use cases for many altcoins, and notes Wall Street's growing involvement in crypto through ETFs and options.
READ MORETensions Drive Gold Higher; Palladium Skyrockets on Sanction Fears
Gold prices strengthened on Thursday due to ongoing geopolitical risks and upcoming U.S. elections, while palladium surged 8% to a 10-month high following reports of potential sanctions on Russian exports. The precious metals market remains volatile, with gold hitting record highs and gaining over 33% this year as investors seek safe-haven assets amid global uncertainties and expectations of monetary policy easing by major central banks.
READ MOREGold's Bull Run Expected to Extend into 2025
Gold prices are expected to continue their upward trajectory into 2025, driven by central bank purchases and increased inflows into gold-backed exchange-traded funds (ETFs). Despite being in overbought territory, analysts predict gold will remain strong due to geopolitical tensions, robust demand from China, and anticipated interest rate cuts by the Federal Reserve. Major banks like Goldman Sachs and JP Morgan forecast gold prices to reach around $2,900 per ounce by 2025, citing factors such as a weakening labor market and gold's role as a hedge against various risks.
READ MOREBuffett Indicator Surpasses 200% for First Time
The Buffett Indicator, which measures the ratio of total U.S. stock market value to GDP, has reached an unprecedented high of over 200% in 2024. This level, surpassing previous peaks during the dot-com bubble and financial crisis, suggests significant overvaluation in the stock market. While some experts argue that the indicator may be skewed due to changes in the global economy and corporate structures, many still view it as a warning sign for potential market corrections. Investors are advised to exercise caution, as Warren Buffett himself once stated that levels approaching 200% are "playing with fire."
READ MORESilver Hits 12-Year Peak -- Gold Breaks $2,700
Gold prices have recently surged past the $2,700 mark. Meanwhile, silver has also reached a 12-year high, benefiting from similar market conditions and investor interest in safe assets. Despite facing resistance from higher US yields, gold's appeal as a safe-haven asset remains strong due to ongoing uncertainty in the US economic outlook.
READ MOREGeopolitical Risks Propel Gold to Unprecedented Peaks
Gold prices has once again surged to new record highs, driven by geopolitical tensions in the Middle East and uncertainty surrounding the upcoming U.S. presidential election. The metal reached $2,758.49 on Wednesday, reflecting investors' flight to safety amidst fears of escalating conflicts between Israel and Iran and a tight election race in the U.S. This bullish sentiment has also impacted other precious metals, with silver nearing $35 an ounce for the first time since 2012. Despite pressure from rising U.S. government bond yields, gold's appeal remains strong due to its safe-haven status and expectations of further price increases in the coming months.
READ MOREPaul Tudor Jones: Bitcoin and Gold Key to Navigating Inflation
Billionaire investor Paul Tudor Jones advocates for Bitcoin, gold, and commodities as hedges against inflation in a recent CNBC interview. He predicts inevitable inflation due to current economic conditions and recommends a diversified portfolio including these assets along with Nasdaq stocks, while advising against fixed-income investments. Jones suggests that inflation could be a potential solution to current financial challenges, drawing parallels with Japan's monetary policy.
READ MOREInvestors Flock to Gold as U.S. Election and Middle East Risks Loom
Gold prices have reached record highs as investors seek safe-haven assets amid growing uncertainty surrounding the upcoming U.S. presidential election and ongoing tensions in the Middle East. This surge in gold prices is occurring despite a strong dollar and rising Treasury yields, which typically dampen gold's appeal. Meanwhile, global stocks are experiencing a slight decline as investors remain cautious about making significant moves before the election.
READ MOREElection and Fed Loom as Treasury Hedging Costs Climb
The cost of hedging against potential losses in U.S. Treasuries has surged to its highest point in 2024, driven by traders' anticipation of significant upcoming events, such as payroll data releases, the U.S. election, and the Federal Reserve's policy announcement. These events could exacerbate market losses, with traders expecting a further rise in yields. The bond market's reaction is influenced by a robust U.S. economy, reducing expectations for Federal Reserve rate cuts and increasing concerns about a potential Republican government, which might lead to faster growth and inflation. In the options market, there is a notable preference for puts protecting against higher yields, reflecting a bearish sentiment as seen in recent trades targeting increased 10-year yields.
READ MORESilver Set for Major Rally: James Turk Predicts $50+ Price in Days or Weeks
James Turk, a well-known analyst in the precious metals market, has predicted that silver prices could exceed $50 within days or weeks, rather than months. This forecast comes as gold continues to reach record highs, suggesting that silver is poised for a significant rally. Turk notes that the current lack of excitement around gold's performance typically indicates that the bull market has further room to grow, and he draws historical parallels to previous bull markets to support his outlook for silver's imminent surge.
READ MOREIMF Cuts Growth Outlook, Flags Rising Global Economic Risks
The International Monetary Fund has reduced its global growth forecast for next year to 3.2%, citing increasing risks from wars and trade protectionism. While crediting central banks for managing inflation without causing recessions, the IMF warns of growing uncertainties in the global economy, including geopolitical risks and potential trade disruptions. The fund emphasizes that current growth levels are insufficient to address poverty reduction and climate change challenges.
READ MOREPaul Tudor Jones Bets on Bitcoin and Gold as Inflation Shields
Renowned investor Paul Tudor Jones is preparing for potential inflation by diversifying his portfolio. He's invested in Bitcoin, gold, and commodities, which he believes are undervalued. Jones also notes that younger investors often use Nasdaq stocks as inflation hedges. His strategy appears to be influenced by the possibility of a Trump victory in the upcoming election.
READ MOREEconomic Strength Rattles Bond Investors' Rate Cut Expectations
Bond traders are once again facing challenges as they reassess their expectations for Federal Reserve interest rate cuts. The bond market is experiencing a selloff due to strong economic data, inflation concerns, and potential political changes. This has led to rising yields across global bond markets and increased volatility. The situation highlights the ongoing struggle between bond traders' expectations and the Federal Reserve's actual policy decisions.
READ MOREGold Prices Soar: A Wake-Up Call for Western Financial Policymakers
Gold's remarkable ascent has captured global attention, with prices reaching unprecedented heights amid geopolitical tensions and economic uncertainties. The precious metal's value has surged by nearly 40% over the past year, defying traditional correlations with interest rates, inflation, and dollar strength. This persistent upward trend reflects a growing interest in alternatives to the dollar-based financial system, particularly among central banks seeking to diversify their reserves. The steady rise in gold prices, despite volatile global events, suggests a deeper shift in the international monetary landscape that warrants closer scrutiny from Western nations.
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Why the 60/40 Portfolio Won't Save Investors This Time | Mike Maloney & Alan Hibbard
In this insightful discussion, we explore the shifting dynamics of the traditional 60/40 portfolio (60% stocks, 40% bonds) and why it may no longer...
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