Gold-Eagle: Gold Forecast: Expecting New Highs and a Powerful Rally into August

Jun 24, 2024

https://www.gold-eagle.com/article/gold-forecast-expecting-new-highs-and-powerful-rally-august Gold, silver, and platinum closed above the prior week’s highs, and I see the potential for cycle lows. Miners gapped through their respective 50-day EMAs on Thursday, and one more strong up-day would establish a bottom. If the June lows are in, as predicted, then we should be starting the next up leg, which could lead to significant price spikes into August. GOLD– Gold is very close to...

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Mining.com: More central banks to increase gold reserves within 12 months, WGC survey finds

Jun 20, 2024

https://www.mining.com/web/more-central-banks-to-increase-gold-reserves-within-12-months-wgc-survey-finds/ Bullion melting furnace. Credit: Polymet Labs Inc. More central banks plan to add to their gold reserves within a year and more of them expect others to do so as well, due to ongoing macroeconomic and political uncertainty despite high prices for the precious metal, the World Gold Council (WGC) said in its annual survey. Demand for gold from central banks has been elevated in the...

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Kitco.com: The world is going to need more gold

Jun 16, 2024

https://kitco.com/news/article/2024-06-14/world-going-need-more-gold   (Kitco News) – Last week, we warned investors that gold’s selloff was an overreaction to misunderstood fundamental news. Blackbox (algorithmic trading) gold traders, who have been relying on Chinese central bank buying, were spooked when data from the People’s Bank of China showed that it didn’t increase its reserves last month, ending an 18-month shopping spree. Gold managed to hold critical support at...

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Mining.com: Copper price hits record above $11,000 on bets that shortage looms

May 21, 2024

https://www.mining.com/web/copper-price-hits-record-above-11000-on-bets-that-shortage-looms/ Bloomberg News | May 20, 2024 | 8:09 am Intelligence Markets China Europe USA Copper  Stock image. Copper surged to its highest-ever level, extending a months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages. Futures on the London Metal Exchange jumped more than 4%, taking copper past $11,000 a ton for the first time,...

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Mining.com: Copper short squeeze in New York is rocking metals markets

May 17, 2024

https://www.mining.com/web/copper-short-squeeze-in-new-york-is-rocking-metals-markets/ Bloomberg News | May 16, 2024 | 7:45 am Intelligence Markets USA Copper  Credit: CME Group A massive dislocation between the prices for copper traded in New York and other commodity exchanges has rocked the global market for the metal and prompted a frantic dash for supplies to ship to the US. The source of the disruption is a short squeeze that has driven up prices on the Comex exchange in...

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Mining.com: Copper price touches $10,000 again as Goldman sees ‘stockout’ risk

May 8, 2024

https://www.mining.com/web/copper-price-touches-10000-again-as-goldman-sees-stockout-risk/ Bloomberg News | May 7, 2024 | 7:09 am Intelligence Markets USA Copper  Stock Image. Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs Group Inc. warned of intensifying supply stress. Metals joined a wider rally in risk assets after soft US jobs data triggered renewed speculation that the Fed will move to lower rates this...

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