Gold Market News
Gold prices climb as central banks show increased willingness to cut interest rates. Stocks higher on hopes of easier Fed policy later this year. Gold last traded at $2,345 an ounce. Silver at $28.32 an ounce.
May 9, 2024
U.S. Millionaire Says Gold Prices ‘Will Go Very High’ - Watcher.Guru--5.9.24
Millionaire and veteran investor Jim Rogers is predicting that gold prices "will go very high" next. The commodity is attracting buying pressure from retail investors, institutional funds, and central banks of developing countries. 
People in Korea are buying gold from vending machines and convenience stores amid 2024's frenzy for the precious metal - Markets Insider--5.8.24
Korea's convenience stores and vending machines are selling gold, with younger people flocking to buy. Appetite for gold has surged as the metal touches record highs in 2024.
Gold’s uptrend remains intact, but prices face short-term resistance - Analysts - Kitco--5.6.24
Analysts are looking at the dollar and technical indicators to gauge the likely direction of gold prices. According to one expert, the technical picture shows that gold is still very much in an uptrend.
China Is Buying Gold Like There’s No Tomorrow - The New York Times--5.5.24
As gold prices surge to their highest prices ever, Chinese consumers have flocked to gold as their confidence in traditional investments like real estate or stocks has faltered. The country's central bank has also been steadily adding to its gold reserves, while whittling away at its holdings of U.S. debt.
Gold prices see post-Fed pullback but uptrends remain intact – FXStreet’s Monfort - Kitco--5.2.24
According to one expert, spot gold "has fulfilled the minimum requirement for completing its bearish Measured Move price pattern" which indicates that prices could be ready to move higher and that gold's medium and long-term price trend is pointing higher.
World Gold Council: Record Q1 Gold Price Driven by Demand Growth - Investing News Network--5.2.24
The World Gold Council has released its latest gold demand trends report which highlights several notable trends in gold during the first quarter of 2024. The report forecasts a positive outlook for the gold sector in 2024, driven by central banks and retail investment.
Goldman Sachs says gold’s bullish momentum remains even if the Fed maintains restrictive rates - Kitco--5.1.24
Gold prices have held critical support above $2,300 as markets look for the Fed to signal it will maintain its restrictive monetary status longer than expected. Despite recent selling pressure, Goldman Sachs is doubling down on its recent bullish call, saying that gold can maintain its bullish momentum even if the Fed delays its easing cycle.
Chinese Have "Grabbed Gold By The Throat" As Capital Flight Accelerates- Zero Hedge--4.24.24
The gold price rally is seeing support from unrelenting Chinese demand as retail shoppers, fund investors, futures traders and even the central bank look to bullion as a store of value in uncertain times.
Gold prices have another 29% upside as China's central bank continues its buying spree, famed economist says - Yahoo! Finance--4.23.24
According to one expert, gold prices are set to continue their record bull run to $3,000 per ounce. One of the main reasons for gold's price rise is the buying spree from China's central bank. The Fed's upcoming easing cycle should also give gold prices a boost.
Gold is ‘good money’ as a hedge against inflation and default risks, says billionaire investor Ray Dalio - Kitco--4.22.24
Billionaire investor Ray Dalio is raising doubts about the health of the U.S. dollar. In a recent interview, Dalio said he was holding gold as a hedge against a potential debt crisis and higher inflation. In his latest post, he said that gold is one of just a few examples of "good money" in the world.
