- Higher Gold Prices and Coin Sales Point to Growing Gold Rush Gold soared 3.5% last week after Congress finally reached a deal to raise the debt ceiling -- assuring that the U.S. debt will continue to balloon. But the respite to Washington's budget woes is only temporary, and that has the gold bugs licking their chops. Here's why the next round of budget battles will be good for gold...
Why Gold Prices Fell Yesterday
Gold prices seem to have stabilized today, trading once again above the $1,300 an ounce mark.
This follows a tumble yesterday of more than $40 an ounce to as low as $1,284 an ounce. That price was nearly a two-month low and put the precious metal down 23% in 2013.
At that level, gold was trading more than $50 below its 50-day moving average. To technical analysts, this confirmed the downtrend in the precious metal, bringing about a wave of selling by those who strictly follow the charts.
However, there were factors at play in gold's selloff other than technical selling.To continue reading click here...
- Industry Insiders Discuss Where Gold Prices Are Headed and How to Profit Gold mining's most prestigious event, the Denver Gold Forum, is one of the most accurate barometers of where gold prices are headed. This year's forum just ended, and you may be surprised at what this group thinks gold is going to do next... Read more...
The QE Helps, But Expect Higher Gold Prices Regardless
The U.S. Federal Reserve pixie dust resulted in higher gold prices this week, much as it lifted silver prices and stocks.
Gold buyers reacted enthusiastically to the Fed's announcement on Wednesday that it would not reduce its $85 billion a month bond purchases, known as quantitative easing, or QE for short.
Gold prices leaped the most in 15 months, after the Fed's "no taper" move, to about $1,365 an ounce.To continue reading, please click here
Why Gold Is Going Down Today
Precious metals investors once again are left to wonder why gold is going down today as the metal hits its fourth consecutive day of declines.
In trading Thursday, gold for December delivery finished the session down $33.20, off 2.4%, to $1,333.60 per ounce. Gold prices on Thursday fell more than $30 in a matter of seconds.
The carnage continued today (Friday). Gold slipped to a five-week low on Friday, off roughly $72 an ounce over the week, marking the yellow metal's worst week since June.
The reasons why gold is going down today are partly related to some trading drama that occurred with gold yesterday...Read More...
How Gold, Oil, and Syria Really Mix… Plus "3 Strikes Against Apple"
The markets are very complicated at the moment, which is why now's an ideal time to reach into the Money Morning Mailbag and address your concerns.
The goal here is simple: To provide understandable, actionable, and, of course, profitable answers to your thoughtful and extremely insightful questions.
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Higher Gold Prices in 2014
Gold prices today continue to bounce up and down based on speculative headlines.Read More...
- The "Smart Money" Is Buying Hard-Hit Gold Stocks Now Thanks to the crisis in Syria, gold prices have had a nice run lately. But now, with Wall Street in the middle of another "hate gold" campaign, is it time to buy or sell the yellow metal? This is what some of the world's top investors are doing... Read more... Read More...
Jim Rogers on Why Oil and Gold Are Headed "Much Higher"
Legendary commodity investor Jim Rogers sees some serious problems stemming from the situation in Syria and the end of the Fed's generous flow of money.
In an interview with Reuters on Tuesday, Rogers said "oil and gold will go much, much higher" due to a "market panic."
"I own oil, I own gold, I own things like that and if there is going to be a war, and it sounds like America is desperate to have a war, they're going to go much, much higher," Rogers said. "Stocks are going to go down, some of the markets that I'm sure are already going down, commodities are going to go up. I'm not particularly keen on war, I assure you, but it sounds like they want it."
Rogers continued, "No matter how well the plans are made, strange things happen in war and who knows what unintended consequence will come."
Equities have been hit hard over worries of a war with Syria. The rout started late Monday following comments from U.S. Secretary of State John Kerry that the United States has a moral obligation to act on Syria's chemical weapon attacks. Selling picked up steam Tuesday with the Dow plunging 170 points.Read More...
Gold Price News Today
Today the gold price seems to be taking a break from its recent run-up, but not before briefly pushing past the psychologically important $1,400 level.
Following a 1.8% surge on Friday, gold prices hit $1,407 in trading in Asia early this morning (Monday) and then pulled back to $1,390 before settling at about $1,395 an ounce.Read More...
- Gold Bugs Will Love What This Chart Says About Gold Prices We've been recommending gold shares for months, ever since prices collapsed in April. But if last week’s “gold convergence” wasn’t enough to convince you, yet another catalyst is pushing prices higher. Read more... Read More...