Kitco News
(Kitco News) – Gold prices began to rise as Federal Reserve Chair Jerome Powell took the stage following the central bank’s decision to keep rates steady on Wednesday.
The post Powell triggers small gold price rally after Fed keeps rates unchanged appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Gold and silver prices are still trading not far from unchanged in late U.S. futures trading Wednesday.
The post Gold, silver hold near steady following as-expected FOMC statement appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Gold prices were unmoved after the Federal Reserve kept interest rates steady while reaffirming its commitment to higher inflation.
The post Gold prices steady as Fed keeps rates unchanged appeared first on WorldSilverNews.
Gold Core
Ira Epstein – Precious Metals Video
Dr. Copper down hard, silver following too. Gold to Silver ratio showing that silver is not keeping up with gold prices. Ratio nearing 90 ounces of silver to 1 ounce of gold. Lower highs, lower lows, silver not trending. Copper prices could get a bounce, highly oversold. Platinum fighting 18 day moving averages of closes but trending lower, with bias down. Palladium lost its bullish embedded reading, it often leads to a pullback to its 18-d.m.a. Momentum lost, has to rebuild.
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Heraeus/Precious Metals Forecast/January 2020
“[S]entiment is strongly bullish with speculative futures positions on NYMEX reaching a record high net long and the gold price reaching its most overbought level since 2010. A great deal of political uncertainty is already priced in, so if the situation settles down then the gold price will most likely pull back. The gold price is expected to trade in a range between $1,700/oz and $1,400/oz.”
USAGOLD note: This report also covers Heraeus’ expectations for silver, platinum, palladium and the more exotic precious metals – rhodium, ruthenium and iridium. Heraeus is a global precious refiner located in Germany.
Bloomberg/Ranjeetha Pakiam/1-28-2020
“’Even if the coronavirus situation improves, there are good reasons to expect continued inflows into gold,’ said Nicholas Frappell, global general manager at Sydney-based ABC Bullion. Other factors remain, including the Fed’s growing balance sheet, low real rates, and a reluctance to ‘normalize’ policy at the Fed, the Bank of Japan and European Central Bank, he said.”
USAGOLD note: In other words “business as usual” for the central banks is good for gold . . .
Chart courtesy of Gold Charts R Us
