Gold Market News

Gold prices pull back on easing lockdown measures. Stocks higher on recovery hope and vaccine news. Gold last traded at $1,706 an ounce. Silver at $17.61 an ounce.

May 26, 2020

You Can’t Just Print More Gold- Forbes--5.26.20
The U.S. government and Federal Reserve can't keep pumping this much money into the financial system and not trigger rapid inflation. There's only one thing that can't be printed, and that's gold.

Citi sees gold price grinding to $2,000 by 2021- Kitco--5.26.20
Bullish sentiment for gold continues to build as another U.S. bank jumps on the all-time-highs bandwagon. In a report published last week, Citi said that they see gold prices pushing to $2,000 an ounce in the medium term.

Wells Fargo sees gold prices ending 2020 between $1,800 and $1,900- Kitco--5.21.20
Wells Fargo has raised its gold forecat and now has a year-end price target between $1,800 to $1,900 an ounce. One expect cites further economic uncertainty and growing inflation threats as support for the yellow metal.

You should have enough gold to preserve your wealth for 24 months - Wealth Research Group- Kitco--5.20.20
An expert from the Wealth Research Group see gold as a store of wealth in the face of growing global recession fears. They believe people should have enough gold to cover their living costs for two years.

The stock market may get cut in half, but this ‘most undervalued’ asset is about to surge, billionaire investor says - Market Watch--5.6.20
Hedge-fund billionaire Paul Singer says stocks may drop at least 50% and its time to load up on gold. According to Singer, gold is "one of the most undervalued" assets available.

Barrick CEO says there’s rising demand for gold as a ‘self-funded insurance policy’ in a global crisis- CNBC--5.6.20
Gold is seen as a bellwether for economic uncertainty. As the Fed cuts rates and global uncertainty reigns, there has been a spike in demand for the metal.

Gold has ‘growing potential’ to break $1,800 an ounce, says UBS- CNBC--5.4.20
There is "growing potential" for the price of gold to break $1,800 per ounce, according to an expert at UBS. So far this year, gold is up 12% and is expected to continue higher as investor interest continues to grow.

Gold Price Will Shatter 2020 Highs Thanks to Smart Money: Analyst- CCN--5.4.20
Analysts are predicting gold to hit an all-time high against the U.S. dollar either this year or next year. Gold's price will depend on how deep and serious the coronavirus recession is in the U.S.

Gold's coronavirus rally has room to run, and it could jump 5% in the coming weeks, UBS said- Markets Insider--4.29.20
Gold prices have further room to run and could run to at least $1,800 per ounce in the coming weeks, according to some UBS strategists. Gold has rallied 15% since mid-March as investors seek safe-haven assets during the economic turmoil caused by coronavirus.

Gold Surges To New All Time Record Highs in Euros, Pounds and Most Currencies- 4.28.20
Gold prices have surged to all-time highs in euros and pounds due to concerns about the outlook for both the U.K. and E.U. economies. Gold prices also rose to a seven-year high in dollars before pulling back on profit-taking.

‘The Fed can’t print gold:’ Bank of America sees bullion price surge to $3,000 as paper money crumbles - RT--4.22.20
Analysts are getting more bullish on gold. According to Bank of America, the metal is heading 78 percent higher, to hit $3,000 an ounce in 18 months. The Bank says the U.S. Federal Reserve has provided enough momentum to propel investment demand and prices higher.

Gold prices settle at 1-week high as BofA forecasts the metal will surge to $3,000 - Market Watch--4.22.20
Gold settled at its highest level in a week as nagging concerns about the global economy supported a rise in the precious metal. Dollar weakness and lingering concerns over the global economy fueled a flight to safety, says one analyst.

Why people consider gold to be a ‘safe haven’ in crises like the coronavirus- CNBC--4.20.20
Investors' fear levels are pretty high right now and its uncertain when the world will recover. In such times of uncertainty, gold is touted as a "safe haven" for those looking to shelter from volatile investments.

Gold prices end higher, recapture level above $1,700 as oil prices plunge - Market Watch--4.20.20
Gold prices saw a jump on Monday, reclaiming the $1,700 level as crude oil prices tumbled. Investors are also bracing for expected weak data from quarterly results from corporations.