Gold Moving Higher On The Way To $2,000 Per Ounce

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	5 Signs That Gold Will Increasingly Flow To The East
	The reshaping of the world economy and the global (political) order is in full swing. . . .Ronni Stoeferle
	Silver Jumps To Near $23 As Israel-Palestine Conflicts Improve Bullion’s Appeal
	Silver price (XAG/USD) prints a fresh two-week high at $23.00 as the appeal for bullion improves due to deepening Middle East tensions. . . .Sagar Dua
	What’s The Impact Of Geopolitics On Gold?
	Gold has gained more than 3% this week largely attributed to an escalation of geopolitical tensions linked to the Israeli-Palestinian conflict. . . .Johan Palmberg
	Silver Looks Better Than Gold In 2024 According To LBMA Survey
	Although the Federal Reserve is expected to maintain interest rates at restrictive levels through most of 2024, geopolitical uncertainty will continue to . . . .Neils Christensen
	Central Banks A Catalyst For $2,100/oz Gold
	Analysts from Toronto-Dominion Securities (TDS) are out with a research note highlighting how healthy demand for Gold coupled with . . . . Joshua Gibson
	Higher Interest Rates Will Raise Interest Costs on the National Debt
	Both the 10-Year and 30-Year Treasury Rate has increased to over 5%. The increase in those rates, which is the interest rate . . . .Peterson Foundation

I have said numerous times in the past that the Gold price can be very explosive and the past week has proved that. Gold increased over $120 in the past week (a three-month high) in the face of higher interest rates and a strong U.S. Dollar. Many market watchers fear that the war will escalate in the Middle East, and Gold is a traditional hedge against geopolitical uncertainty. Analysts believe that this conflict could easily become a multi-front war in the Middle East. These concerns are driving both Central Banks and investors to become aggressive Gold buyers.

Gold demand is also being driven up by the issue of interest rates and how high interest rates will affect the U.S. National Debt. At the current interest rate, the National Debt could double over the next five years, which would weaken the value of the U.S. Dollar. See article attached (Higher Interest Rates Will Raise Interest Costs on the National Debt).

Physical and futures demand remains strong as Gold trading circles the globe. Gold is very close to breaking the key $2,000 resistance level. When it does break above $2,000, there is no resistance level until it reaches the May 4th, 2023 high of $2,078 per ounce.

On Friday, Gold closed at $1,981 per ounce, up $14 for the day and $120 for the past week.

Today: The markets are awaiting the next moves of the Israeli military and the Federal Reserve. While both of those actions are on hold, we are seeing some short-term profit taking in Gold. Today, Gold traded between $1,969 to $1,983 per ounce, as it tries to establish a firm base before the next rally to $2,000.

During the early part of last week, the Silver price continued to trade above and below the key $23 level in spite of the strength in the Gold price. On Friday, as Gold approached $2,000 per ounce, Silver finally broke out of its trading range and reached $23.75 per ounce. Investor demand for Silver continues to be strong, as premiums on many of the popular Silver investment coins stay at low levels. Silver closed Friday at $23.32 per ounce, up $0.62 for the week.

The Silver-to-Gold ratio remains at 85-to-1, still an excellent investment opportunity.

Today: Silver saw brief trading below $23 this morning in Asian trading. Silver quickly moved back above the $23 support level during European trading. Silver traded today between $22.90 and $23.40 per ounce.

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