Gold has long been considered a store of wealth, and the gold price often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset. The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs
Gold reached yet another record high at the end of last week, crossing US$2,500 per ounce for the first time. The yellow metal stayed above that key level until experiencing a pullback on Thursday (August 22), but breached US$2,500 again on Friday (August 23) morning. Gold is seeing support from quickly increasing confidence that the
In a Friday (August 23) speech at the Jackson Hole Economic Symposium, US Federal Reserve Chair Jerome Powell indicated that adjustments to the central bank’s benchmark rate are on the way. “The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend
Gold prices hovered near a record high on Thursday, fueled by anticipation of a potential interest rate cut by the Federal Reserve in September. This follows recent developments that have bolstered expectations of monetary easing. During the Federal Reserve’s July 30-31 meeting, several officials considered the possibility of cutting interest rates, though the central bank
Peter Grandich of Peter Grandich & Co. shared his updated thoughts on the resource sector now that the year is more than halfway through, honing in on gold’s price drivers and path forward in 2024 and beyond. Notably, he sees much higher price levels for the yellow metal in the years to come. “I was
Don Durrett of GoldStockData.com weighed in on the recent market meltdown, saying he sees it as another indicator that the US economy is in trouble and heading toward a recession as the year continues. “I think that we’re going to see kind of like a 2008 scenario where you start seeing big events,” he explained.
Brett Heath, CEO and director of Metalla Royalty & Streaming (TSXV:MTA,NYSEAMERICAN:MTA), believes gold is only at the beginning of its current cycle, with US$2,600 to US$3,000 per ounce potentially in sight this year. “We’ve seen one of the most significant breakouts we’ve ever seen in gold, and there’s very, very few people in this trade,”