Silver, Gold Diverge for First Time in Days After Rallying Together By Investing.com



© Reuters.

By Barani Krishnan

Investing.com – Gold came within a few dollars of hitting $1,900 an ounce on Thursday as the yellow metal entered what appeared to be the last lap of gold bugs’ target for a new record high.

Silver, meanwhile, settled down for the first time in four days, diverging the first time this week from its joint rally with gold as the precious metals set continuous price milestones on assurance of stimulus from central banks worldwide to fight the coronavirus.

settled up $24.90, or 1.3%, at $1,890 per ounce. That was the highest since September 2011, when Comex gold hit a record high of $1,911.60.  

settled down 15.60 cents, or 0.7%, at $22.988 per ounce. In Wednesday’s session, it hit $23.345. That was the highest for silver since September 2013, when it got to $24.46 an ounce on Comex.

Gold’s continued rally on Thursday came on the back of the dollar’s drop, as indicated by the , which ties the greenback to a basket of six currencies. Renewed U.S.-China tensions also boosted gold’s safe-haven appeal.

“Gold’s rally is accelerating as the dollar slumps and coronavirus concerns heighten amid intensifying tensions between Beijing and Washington,” said Ed Moya of New York-based OANDA.

“Too many risks to the global outlook means gold might not struggle to capture the psychological $1,900 level this week.  If Asia continues to see steep rises with infections, there will be little hope that the U.S. and Latin America will get the virus under control.”

Gold’s reach toward $1,900 came amid data showing that some 1.4 million Americans filed for first-time unemployment claims last week, as a new wave of coronavirus infections continued to overwhelm the world’s largest economy that just emerged from lockdowns two months ago.

The United States recorded more than 915,000 Covid-19 cases over the past two weeks, more than the number reported for all of June.

Top U.S. pandemics expert Anthony Fauci said earlier this month that the daily case growth could reach 100,000 without proper social- distancing and other safety measures. 

Nearly 4 million Americans have already been infected by the COVID-19 so far, with a death toll reaching above 143,000, according to Johns Hopkins University.  A new model by the University of Washington also predicts 200,000 coronavirus deaths in the United States by Oct. 1, casting further doubts on economic reopening from lockdowns. 

The U.S. economy shrank 5% in the first three months of 2020 for its sharpest decline since the Great Recession of 2008-09, as most of the 50 states in the country went into lockdown to stem the outbreak of the virus. While most businesses have reopened over the past two months, economists still warn of a double-digit recession by the second quarter — meaning job losses could continue.

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold Up Over Prospective U.S. and EU Stimulus Measures By Investing.com



© Reuters.

By Bryan Wong

Investing.com- Gold was up on Tuesday morning in Asia, boosted by the prospect of more stimulus packages from both the U.S. and Europe.

Debate over a further round of economic stimulus measures is currently underway in the U.S. Congress, with some earlier measures expiring at the end of July. Across the pond, European Union ministers finally reached agreement on a EUR750 billion ($857.979 billion) stimulus plan earlier in the day at the EU Summit.

 were up by 0.12% to $1,819.55 by 1:40 AM ET (6:40 AM GMT), remaining above the $,1800 mark. The yellow metal continued its rally from the previous session, where it reached levels not seen since September 2011.

Meanwhile, British drugmaker AstraZeneca (LON:) and Oxford University said on Monday that its COVID-19 vaccine induced an immune response in all study participants that received two doses. Two other candidates, developed by Cansino  (HK:) Biologics alongside China’s military research unit and German biotech BioNTech (NASDAQ:) alongside U.S. drugmaker Pfizer (NYSE:), also reported positive early results on the same day.

But COVID-19 also continues its rampage, with over 14.6 million cases globally as of July 21, according to Johns Hopkins University data.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold up for 6th Week on Virus, Economy and Biden Prospects By Investing.com



© Reuters.

By Barani Krishnan

Investing.com – Gold coasted to a sixth-straight winning week on Friday as a new spike in the coronavirus, uncertainty for the global economy, and prospects of a Joe Biden victory in the U.S. presidential election continued to lure investors toward the safe-haven.

for August delivery on Comex settled up $9.70, or 0.5%, at $1,810 per ounce.  

, the real-time indicator of bullion prices, rose by $14, or 0.8%, to $1,811.17. 

For the week, Comex gold rose 0.5% while bullion gained 0.7%.

Gold prices have gained roughly $130 an ounce, or 8%, since the week ended May 31, rallying back-to-back for six weeks now.

“Gold prices are steadily rising as investors start to raise their stimulus expectations on coronavirus second wave fears,” said Ed Moya, senior markets strategist at New York-based OANDA.

The United States shattered its daily record for coronavirus infections, prompting some states to impose partial lockdowns, while the number of global cases crossed 13.89 million.

A sharp rise in stimulus packages globally to shield economies from the fallout of the coronavirus pandemic has driven safe-haven gold prices 19.3% higher so far this year.

U.S. lawmakers return to Washington on Monday to discuss potential new coronavirus aid programs, while investors also eyed a meeting of EU leaders in Brussels about a proposed stimulus to kick-start their Covid-hit economies.

Covid-19 aside, election risk was also factoring in for U.S.-based investors in gold as polls increasingly show former Vice President Joe Biden leading President Donald Trump in the run-up to the November 3 election, said Moya.

“Wall Street can’t ignore the polls anymore and (has) start(ed) to price in the risk of a Biden Presidency,” he added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



‘Gold Guys are Being Phased Out’ By Cointelegraph



Rich Dad Poor Dad Author: ‘Gold Guys are Being Phased Out’

Robert Kiyosaki, author of “Rich Dad Poor Dad,” says that investments in real estate and gold may not be the future of finance as cryptocurrency comes into focus.

In a July 8 interview with bull Anthony Pompliano, AKA Pomp, on Kiyosaki’s radio show, the author said traditional investments like gold and real estate would come second to crypto.

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold Down Amid Strong Dollar, But Capped By Growing COVID-19 Fears By Investing.com



© Reuters.

By Bryan Wong

Investing.com- Gold retreated on Tuesday morning in Asia, with a strong dollar on Tuesday pulling traction away from the yellow metal.

were down by 0.85% to $1,798.65, by 1:12 AM ET (6:12 AM GMT), continuing to stay above the $1,800 mark.

However, losses were capped by the worsening COVID-19 situation globally. COVID-19 cases surpassed the 13 million mark as of July 14, according to Johns Hopkins University data.

Cases continued to surge in the U.S., with California announcing on Monday that it is rolling back the state’s reopening plans. State Governor Gavin Newsom halted operations for restaurants, wineries, movie theaters, zoos, card rooms, and bars statewide, hampering hopes of economic recovery.

Growing tensions between the United States and China also capped the retreat. U.S. Secretary of State Michael Pompeo said on Monday that China’s claims to offshore resources throughout the South China Sea are unlawful.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold Above $1,800 for 3rd Day as U.S. Virus Fears Hit Home Again  By Investing.com




By Barani Krishnan

Investing.com – Gold prices stayed above $1,800 per ounce for a third straight session on Monday as the new wave of coronavirus cases across the world kept up the bid for safe havens.

“Gold should continue to rise higher as the record increases in Covid-19 cases worldwide will likely force U.S. and European leaders into strongly signaling more fiscal stimulus is coming,” said Ed Moya, an analyst at New York-based OANDA.

“If the days of the are numbered, gold prices should have little difficulty in making that run to record high territory before year end,” Moya added, noting that the $840 billion EU recovery fund plan and over $1 trillion in disbursement by the Trump administration should further aid the stimulus trade in gold.

for August delivery on Comex settled up $12.20, or 0.7%, at $1,814.10 per ounce. The contract hit $1,829.80 on Wednesday, its highest since September 2011, when it scaled to a record $1,911.60.

was up $4.33, or 0.2%, at $1,803.63 by 3:45 PM ET (19:45 GMT). The real-time indicator of bullion prices scaled $1,809.22 earlier on Thursday, a peak since September 2011, when it hit a record high of $1,920.85.

Record high U.S. Covid-19 cases in a day have cast doubts over the pace of economic reopenings from lockdowns, as well as the resumption of school in the fall season. Coronavirus deaths in the United States have started to slowly rise too, following the surge in new caseloads from the middle of June. 

In California, one of the new U.S. epicenters in the outbreak, Governor Gavin Newsom shut down all indoor activities, including restaurants, bars and movie theaters in the state on Monday, after the number of deaths related to coronavirus passed 7,000. California is the number one hub for the U.S. tech sector. Newsom’s decision cut a streak of record highs enjoyed in recent weeks by Wall Street’s tech-heavy , sending the barometer down 2%, its biggest drop in nearly three weeks.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold Streaks On for 5th Week as Stimulus, Virus Worries Come to Fore By Investing.com



© Reuters.

By Barani Krishnan

Investing.com – Gold prices fell a notch Friday but that didn’t stop the yellow metal from cruising to a fifth straight weekly gain, boosted by U.S. stimulus measures to deal with the coronavirus pandemic and surging new global infections. 

for August delivery on Comex settled down $1.90, or 0.1%, at $1,801.90 per ounce. The contract hit $1,829.80 on Wednesday, its highest since September 2011, when it scaled to a record $1,911.60.  1,787.60

was down $3.72, or 0.2%, at $1,799.83 by 3:45 PM ET (19:45 GMT). The real-time indicator of bullion prices scaled $1,809.22 earlier on Thursday, a peak since September 2011, when it hit a record high of $1,920.85.

For the week, August gold rose 0.8% while bullion gained 1.4%.

“Gold’s short-term outlook remains very bullish as tensions will likely increase next week between the world’s two largest economies, investors brace for large layoff announcements as banks kick off earnings season, and the COVID-19 spread in US and Latin America still do not show any signs of plateauing,” said Ed Moya, analyst at New York’s OANDA.

Record high daily U.S. coronavirus infections have cast doubts over the pace of economic reopenings from lockdowns, as well as the resumption of school in the fall.

Latin America and the Caribbean have become “a hot spot” for the COVID-19 pandemic, with several countries now having one of the highest per capita infection rates and absolute number of cases in the world, U.N. Secretary-General Antonio Guterres said. A 9.1% contraction in GDP was expected this year in the region, which would be the “largest in a century,” said a video and briefing report by the U.N. chief.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Record Number of U.S. COVID-19 Cases Boost Gold By Investing.com



© Reuters.

By Gina Lee

Investing.com – Gold was up on Friday morning in Asia, with investors turning to the safe-haven after the U.S. saw a record number of daily COVID-19 cases.

The U.S. reported over 60,000 cases on Thursday, with Texas, Florida and California among the states with record numbers of new cases.

were up by 0.15% at $1,806.50 by 12:29 AM ET (5:29 AM GMT), ending the week above the $1,800 mark.

Meanwhile, COVID-19 continues its global rampage, with over 12.2 million cases and 550,000 deaths globally as of July 10, according to Johns Hopkins University.

The numbers further dampened investor hopes of an economic recovery from the virus, which was compounded with some cities forced to reimpose lockdown measures. Hong Kong tightened social distancing measures on Thursdays, following Beijing and Melbourne, to curb a fresh outbreak of the virus in the city

The prospect of further stimulus measures from central banks continues to give the yellow metal a boost.

“These stimulus (measures) are not going away very soon. If we see the global supply chain, it has been massively disrupted and that disruption adds to inflation as well,” Ryan McKay, commodity strategist at TD Securities, told CNBC.

With $2 trillion worth of existing stimulus measures due to expire at the end of July, investors will be looking for the U.S. Federal Reserve’s next move.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold Storms to 9-year Highs as Safe-Havens Spike on Virus Fears  By Investing.com



© Reuters.

By Barani Krishnan

Investing.com – Gold stormed past $1,800 for the third time in a week on Wednesday as bulls seized on the precious metal’s upward momentum to drive its prices to new nine-year highs.

Also aiding gold were safe-haven bids as data showed the United States had added a million Covid-19 cases in just a month, while countries spared of the worst of the pandemic earlier, like Sweden, now showed surging death rates.

“Gold is roaring higher as a number of uncertainties to the outlook persist and as the dollar slides,” said Ed Moya at New York-based online trading platform OANDA.

“The Fed has acknowledged that corporate bond buying could slow if market conditions improve further. But the intensifying wave of the virus in the U.S. will likely see that not happen anytime soon,” Moya said, reinforcing expectations that the central bank’s support for the American economy and markets will continue, weighing on the and boosting gold.

for August delivery on Comex settled up $10.70, or 0.6%, at $1,820.60. It earlier hit $1,829.65, its highest since September 2011, when it scaled to a record $1,911.60.

was up $14.12, or 0.8%, at $1,809.28 by 3:58 PM ET (19:58 GMT). The real-time indicator of bullion prices scaled $1,791.78 earlier in the day, a peak since the record high of $1,920.85 achieved by bullion in September 2011.

Gold was also supported by data showing that it took the United States just 28 days later to reach another million cases of the Covid-19 that brought the total case to over 3 million.

The virus itself is experiencing a new wave in the United States, with some 40,000 new infections being reported daily. Top U.S. pandemics expert Anthony Fauci warned recently that the daily case growth could reach 100,000 without proper social-distancing and other safety measures. 

A new model by the University of Washington, meanwhile, predicts 200,000 U.S. coronavirus deaths in the United States by Oct. 1, casting further doubts on economic reopening from lockdowns. 

In Sweden, the pandemic is now being blamed for 5,420 deaths, after the country decided to go light on social distancing in a reverse strategy to fight the virus. As a result, by per million people, Sweden has suffered 40% more deaths than the United States, 12 times more than Norway, seven times more than Finland and six times more than Denmark.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Gold Shoots Past $1,800 Again as New Covid-19 Wave Hits Markets  By Investing.com



© Reuters.

By Barani Krishnan

Investing.com – Gold settled above $1,800 for the second time in a week on Tuesday as a wave of new coronavirus infections in the United States and the world pushed more investors to seek protection with the safe haven, amid a slide in global equity markets.

“Gold seems poised to make a run for the $1,850 level as economic uncertainty is here to stay, as too many virus hotspots are re-emerging globally,” said Ed Moya, senior markets strategist at OANDA in New York.  

“The stimulus trade component for gold also got some positive developments after the White House told Congress the next stimulus package needs to be done by the first week in August,” Moya said, referring to the new round of financial aid for ordinary Americans that Wall Street hopes will boost consumer spending.

for August delivery on Comex settled up $16.40, or 0.9%, at $1,809.90. It marked the second settlement above $1,800 for Comex’s benchmark gold futures contract, after it broke above that level on June 30, for the first time in nearly nine years.

was up $12.80, or 0.7%, at $1,796.99 by 3:58 PM ET (19:58 GMT). The real-time indicator of bullion prices scaled $1,789.48 last week, a peak since the record high of $1,920.85 achieved by bullion since its September 2011.

Stock prices fell across the world on Tuesday, with Wall Street’s Dow closing down 1.5%, as investors reacted grimly to the rising global toll of Covid-19, led by news that Brazilian President Jair Bolsonaro, who had downplayed the virus for months, had tested positive now.

The United States itself has been reporting some 40,000 new cases of coronavirus daily and the country’s top pandemics expert Anthony Fauci said recently this could grow to 100,000 daily without proper social-distancing and other safety measures. 

Data shows that some 3 million Americans have been infected by the virus so far, with a death toll exceeding 133,000.  A new model by the University of Washington also predicts 200,000 coronavirus deaths in the United States by Oct. 1, casting further doubts on economic reopening from lockdowns. 

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.