Gold Market News

May 23, 2018

Gold prices higher after release of Fed minutes. Stocks falter as Trump raises trade doubts. Gold last traded at $1,293 an ounce. Silver at $16.47 an ounce.

Gold Production In 30 Years: ‘Supply Will Struggle To Expand,’ Require Higher Prices — WGC - Kitco--5.22.18
The global gold supply "will struggle to expand" over the next 30 years, according to the World Gold Council. While gold supply falls, demand is expected to grow, requiring higher prices for the yellow metal.

This Is Not 'A New Dollar Bull Market': Gold To Outperform Against Other Currencies - ICBC- Kitco--5.21.18
The recent U.S. dollar rally is not a sign of a new bull market, says ICBC Standard Bank, and added that gold is still expected to outperform against other currencies.

3 reasons the gold slump may be over- Business Insider--5.21.18
Gold prices may have hit a floor and may not fall any further thanks to three key reasons. Demand in India and China, the falling dollar and inflation expectations may all contribute to rising gold prices.

International Demand Bullish For Gold - Seeking Alpha--5.17.18
Gold should soon find itself pushed higher as Goldcorp Chairman Ian Telfer stated that all of the major deposits of gold in the world have been discovered. If he is correct, this would be positive for gold prices going forward.

‘We Found It All’: Goldcorp Says Mining Reached ‘Peak Gold’; Prices To Hit $1,600- Kitco--5.16.18
All major gold deposits have already been found, said Goldcorp chairman, adding that mining production can only go downhill from here. In the long run, the dwindling production will boost gold prices.

China Gold Demand Off To Hot Start- Zero Hedge--5.16.18
Investors are anticipating a continued demand for gold for the fifth year in a row, driven by geopolitical uncertainties. China has been actively accumulating gold and is expected to continue to do so.

Turkish Gold Imports Triple As The Central Bank Diversifies Out Of Dollars- Seeking Alpha--5.16.18
Turkish gold imports surged thanks to a sharp increase in investment demand. Turkish gold holdings has reached a new record high of 565 metric tons last year as the government decided to replace a significant amount of its dollar reserves with gold.

John Paulson and Ray Dalio Stay Loyal to Gold - Bloomberg--5.15.18
Billionaire hedge fund managers John Paulson and Ray Dalio keep their faith in gold even amid rising interest rates. Gold has advanced 1.7 percent in Q1 of 2018 as the dollar weakened for a fifth straight quarter.

Why Falling Gold Prices Aren’t Bothering This Mining CEO- Kitco--5.15.18
One mining CEO was unfazed by gold's price drop. Kenneth Berry, CEO of Vertex Mining Corp, sees gold's price drop as a buying opportunity for investors.

Gold's Time To Shine As Dollar Loses Its Luster - Analysts- Kitco--5.11.18
Now that momentum in the greenback is starting to weaken, analysts say that gold has an opportunity to push back to the top end of its trading range.

Gold Is Ready For Takeoff - Seeking Alpha--5.11.18
The market is sending clear signals that precious metals are on the way to reaching a range of $1,385 to $1,484. The dollar is topping out and a falling dollar is going to precipitate a very bullish signal for commodities in general.

Chinese Gold Demand Off To A Hot Start In 2018- Zero Hedge--5.10.18
Gold has been under pressure from a stronger U.S. dollar which makes this an ideal entry point in anticipation of a late summer rally before Diwali and the Indian wedding season. Demand from China for the remainder of the year also looks promising.

Gold Prices See Brief Pop Following Disappointing U.S. Inflation Data- Kitco--5.10.18
Gold prices jump as U.S. inflation pressures remain muted. According to a new report, the U.S. Consumer Price Index rose 0.2% in April, weaker than what economists had forecast.

Iran's Gold Demand Set for Spurt Before Trump Sanctions Bite- Bloomberg--5.9.18
Iran's gold demand will probably be "strong" for a while as U.S. sanctions start to take effect. Initially, people will likely try to convert whatever they have into dollars or gold, says one expert.