Why geopolitical events are not a good reason to buy gold

2020-01-06

Gold’s haven appeal amid mounting U.S.-Iran tensions and uncertainty in the Middle East could turn sour following the precious metal’s recent price rally to near seven year highs. “The geopolitical instability is adding fuel to the fire,” said Maria Smirnova, senior portfolio manager at Sprott Asset Management, following a sharpRead More →

Gold holds above $1,500 ahead of this week’s Fed meeting

2019-10-28

Gold futures edged lower Monday but held above the psychologically important level of $1,500 an ounce as traders await this week’s Federal Reserve policy meeting. Gold for December delivery GCZ19, -0.33%  on Comex fell $4.30, or 0.3%, to $1,501 an ounce, while December silver SIZ19, -0.06%  edged 1.9 cents higher,Read More →

Gold scores a pop from historic oil outage

2019-09-16

Gold futures headed solidly higher on Monday after an attack on Saudi Arabian oil production sent oil prices skyrocketing and investors turning to haven assets, including bonds and precious metals. December gold GCZ19, +0.66%  on Comex gained $9.70, or 0.7%, to $1,509.20 an ounce, after registering on Friday a weeklyRead More →

Gold’s big drop is just the beginning of a longer slide

2019-09-06

Gold’s short-term direction is down, according to contrarian analysis. This forecast has nothing to do with Thursday’s big drop in bullion’s price. It instead traces to the gold timers’ recent jump onto the bullish bandwagon. From a contrarian perspective, of course, that means that the path of least resistance overRead More →

Gold under pressure for a second straight session

2019-08-29

Gold prices headed lower for a second straight session Thursday, pulling back from the more-than-six year highs seen earlier this week, as China calmed some fears over trade tensions, prompting gains in the stock market and dulling haven demand for the yellow metal. Geopolitical worries were soothed after a spokesmanRead More →

Gold prices retreat ahead of Fed minutes

2019-08-21

Gold futures pulled back on Thursday, ahead of the release of minutes of the Federal Reserve’s policy setting meeting on July 30-31 meeting which could provide further clues on the direction of monetary policy. Gold for December delivery GCZ19, -0.19%  was off $3.60, or 0.2%, at $1,512.10 an ounce, afterRead More →