gold prices

The outlook for gold - both bullion and the SPDR Gold Trust ETF (GLD) - is as bullish as I have seen it in my lifetime . . . .

Gold has now recovered from being negative to close the day higher on three occasions in as many days since Friday . . . .

Arguably Chinese gold demand, which remains high according to almost all accounts, tends to be a stabilising influence on the gold price with the twice-daily Shanghai fixes having their own impact is steadying price rises and falls . . . .

Long after the Americans finish celebrating New Years and begin to renege on resolutions, the Chinese are just getting started. While the Chinese “Spring Festival” has not caught on with the rest of the world, the impact of this Chinese tradition offers average Americans a unique opportunity to benefit here in the USA . . . .

Yesterday, the President’s comments left all the currency traders and the Gold traders scratching their heads. The price of Gold was enjoying a healthy sustained rally after the Treasury Secretary Steve Mnuchin indicated that a weak dollar was in the best interests of our economy . . . .

If gold trading this morning in Europe is anything to go by, gold is headed for US$1,350 an ounce . . . .

Some analysts worry that higher US interest rates are bearish for gold. Because gold has no yield, the higher rates climb, the greater the relative appeal of other assets. But the evidence doesn’t bear this out, says Russ Mould of investment platform AJ Bell in The Daily Telegraph . . . .

The other shoe to drop? The next big move? Up or down? . . . .

Gold prices should see a steady rise in 2018 as inflation picks up and competition from equity markets slows down, according to George Gero, managing director at RBC Wealth Management . . . .

Gold hit its highest in 2-1/2 months on Friday and remained on track for its biggest annual rise since 2010 as a wilting dollar, political tensions and receding concerns over the impact of U.S. interest rate hikes fed into its rally . . . .