Gold Silver High Alert – Be Cautious @ Higher Level – Neal Bhai
Gold slipped from a record as U.S. stocks rose on positive economic data and the dollar climbed.
Gold Silver High Alert – Be Cautious @ Higher Level – Neal Bhai
Gold slipped from a record as U.S. stocks rose on positive economic data and the dollar climbed.
Gold Prices Above $1972 Next Ultimate Target $2020—$2050 – Neal Bhai
Gold rates have broken a series of records over the past few weeks amid rising COVID-19 cases around the globe and worsening ties between the world’s two largest economies.
While the rally appeared to pause, analysts who say gold is overvalued aren’t expecting a substantial decline. A correction probably will be measured, thanks to the weak dollar and chronic turmoil in the global economy, BNP Paribas SA said.
This set-up is now beginning to ease and while gold remains above $1,900 last Friday’s high and Monday and Tuesday’s low prints the outlook remains positive.
Bullion is best known as a time-honored haven from inflation, but there’s more to its appeal, and plenty of conflicting forces at work that can excite commentators and investors.
The U.S. dollar’s reign as the world’s reserve currency is coming under threat, as evinced by the recent surge in gold prices, according to Goldman Sachs Group Inc.
he gold market made its historic move Sunday evening during the Asian trading session. First gold spot hit its all-time high above $1,920 and then August futures quickly followed suit. August gold last traded at $1,922.70 an ounce, up more than 1% on the day.