Click here to get this article in PDF
Gold futures struck brand-new record highs of $1,974.90 an ounce this week after breaching the 2011 high of $1,920 an ounce. Experts stay really favorable on gold, saying that $2,000 an ounce cost is just around the bend.
Silver additionally had a stellar week, increasing to $26.275 an ounce and hitting seven-year highs.
Some cost pullbacks are not being dismissed but any type of significant decreases are expected to be purchased.
Below's where Kitco's elderly expert Jim Wyckoff sees gold heading later this year: Sept. 1: $1,915.00 (regular disadvantage adjustment in an uptrend forecasted); Nov. 1: $2,085.00; Jan. 1: $2,257.00.
The main motorists for gold this week have actually been weak U.S. dollar as well as money misusage concerns in light of all the cash printing taking place across the globe.
Goldman Sachs also released a warning today, stating that the U.S. buck remains in danger of losing its status as the globe's get currency. "Gold is the money of last hope, specifically in an environment like the current one where governments are lowering their fiat currencies as well as pressing genuine interest rates to all-time lows," Goldman said.
__________________________________________________________________.
Kitco Information is the globe's # 1 source of metals market details. Our video clips feature meetings with famous market figures to bring you market-affecting insights, with the goal helpful individuals make educated investment decisions.
Subscribe to our channel to keep up to date on the most recent insights moving the steels markets.
For even more breaking information, browse through.
Follow us on social media sites:.
Facebook -.
Twitter -.
Google+:.
StockTwits -.
Real-time gold rate and charts:.
Live silver rate as well as graphes:.
Don't forget to register for Kitco Information' Weekly Roundup– comes out every Friday to recap the hottest stories & videos of the week:.
Sign up with the discussion @ The Kitco Forums and belong to the premier online community for rare-earth elements investors:.
Please note: Video clips are not trading guidance and also the sights expressed may not reflect those of Kitco Metals Inc
.
U.S. dollar in danger? Gold’s all-time high rally and more — Weekly rundown
Gold futures hit new record highs of $1,974.90 an ounce this week after breaching the 2011 high of $1,920 an ounce. Analysts remain very bullish on gold, saying that $2,000 an ounce price tag is just around the corner.
Silver also had a stellar week, rising to $26.275 an ounce and hitting seven-year highs.
Some price pullbacks are not being ruled out but any major drops are expected to be bought.
Here’s where Kitco’s senior analyst Jim Wyckoff sees gold heading later this year: Sept. 1: $1,915.00 (normal downside correction in an uptrend projected); Nov. 1: $2,085.00; Jan. 1: $2,257.00
The main drivers for gold this week have been weaker U.S. dollar and currency debasement fears in light of all the money printing happening across the world.
Goldman Sachs even issued a warning this week, stating that the U.S. dollar is in danger of losing its status as the world’s reserve currency. “Gold is the currency of last resort, particularly in an environment like the current one where governments are debasing their fiat currencies and pushing real interest rates to all-time lows,” Goldman said.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter - https://twitter.com/kitconewsnow
Google+: https://plus.google.com/u/0/116266490328854474588
StockTwits - https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
