MAJOR GOLD MARKET INDICATOR SHIFT: TROUBLE FOR FUTURE SUPPLY

One of the major gold market indicators experienced a major shift in 2017.  If we look at this gold indicator over the past several years, this recent trend reversal suggests something has fundamentally changed in the gold market… and in a BIG WAY. According to the World Gold Council, global gold scrap supply declined significantly during the first half of 2017 even though the price of gold increased.  Global gold scrap supply plunged to 563 metric tons (mt) in the first half of 2017 compared...
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His Gold Calls Have Been Quite Accurate; Now He’s Calling The Bottom

(Kitco News) - It seems the best way for investors to make money in the gold market lately is by being on the bearish side, but according to one analyst with a strong track-record, this trend could change. “Gold dropped 5 weeks in a row after my May 29th bearish call. All indicators tell me that a trend reversal is imminent,” noted Lejun James Shao, founder of www.myIRAs.net, in a Seeking Alpha post Wednesday. So far this year, Shao’s gold calls have been “quite accurate,” as he put it. ...
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Gold: Where To After Fed Rate Hike?

The gold price weakened after the Federal Reserve raised interest rates by 25 basis points, but some analysts still see the possibility of a push above $1,300 an ounce. The precious metal was trading around $1,261 an ounce in late Asian trading on Thursday after fetching roughly $1,275 an ounce before the Fed lifted rates for the third time in six months. ILLUSTRATION: BLOOMBERG NEWS While the U.S. central bank stuck with its forecast for one more rate hike this year, Standard Cha...
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The stars are starting to align for gold bulls

I’ve been following gold pretty closely since I first proclaimed, ‘it’s time to get greedy in the gold market,’ when the precious metal fell below $1,100 a couple of years ago. Since then it appears to me that gold has been trying to form a bottom. One major technical obstacle, however, has stood in its way and that was the downtrend line that dates back to the 2011 top. This week that downtrend line was broken. 31 May Jesse Felder @jessefelder Hello again... pic.twitter.co...
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Gold Solidly Up, at 3.5-Mo. High, On Safe-Haven Demand, Weaker USDX

Kitco News (Kitco News) - Gold prices are posting good gains and have notched a 3.5-mongh high in early U.S. trading Thursday. Silver prices also hit a 3.5-month high. Buy stops in both futures markets have been triggered by today’s push in prices above the previous for-the-move highs. There continues to be a steady flow of safe-haven demand for gold from traders and investor worldwide. The U.S. dollar index is also slightly lower Thursday, following recent gains, and that’s a positive daily el...
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Gold Sees Modest Pullback On Profit Taking, Firmer U.S. Dollar

Gold prices were ending the U.S. day session weaker Thursday, on a corrective pullback from recent gains that saw prices Wednesday hit a nearly three-month high. Some profit taking from the shorter-term futures traders was featured. Also, a higher U.S. dollar index on this day worked against the precious metals markets bulls. April Comex gold was last down $5.40 an ounce at $1,234.10. March Comex silver was last down $0.01 at $17.70 an ounce. It’s been a quieter week for world economic data r...
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Trump Is Bullish For Gold, Not Bearish — The Market Got It Right The First Time

During the presidential campaign, I frequently commented that the candidacies of Bernie Sanders and Donald Trump were making the price of gold rise substantially. Both are populists--Sanders, a left-wing populist, and Trump, of course, a right-wing populist--and both represented a great deal of political uncertainty. Either of them would have represented a big departure from the established order. And in this case, I take political uncertainty to mean uncertainty about taxation, uncertainty a...
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Investors are snapping up gold. Here’s why

Gold, the yellow metal Wall Street normally flocks to in tough economic times, is shining bright at a three-month high, despite record stock prices and improving economies around the globe. So what’s spooking investors enough to push gold up in price five of the past six weeks and up the first three days this week on its way to a Wednesday close of $1,237.60? Here’s a short checklist: Economic policy uncertainty in the U.S. under President Trump. Political anxiety surrounding the populist ...
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Here’s what could drive gold higher in 2017

“May you live in interesting times” is an old Chinese proverb. While it may sound like a blessing, the saying is actually a subtle curse, something you might wish upon an adversary. The implication is that “interesting times” are chaotic and painful. 2017 is shaping up to be very interesting. Since the victory of Donald Trump in the U.S. presidential elections in November, global stock markets have surged higher, with the S&P 500 up about 8 percent since the U.S. election and 2.6 percent ...
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Gold Hovers Just Below 2.5-Mo. High, As Bulls Maintaining Some Power

Kitco News ,  CONTRIBUTOR Gold prices are trading near steady levels in early U.S. dealings, and are just below the 2.5-month high hit on Monday. A strong U.S. dollar on this day is keeping the precious metals bulls somewhat subdued. Still, the near-term chart postures for gold and silver markets have significantly improved recently, which have the bulls feeling more comfortable than they have been in months. April Comex gold was last up $0.20 an ounce at $1,232.30. March Comex silver was last ...
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