Gold prices may hit fresh all-time highs this year as the low interest rate market environment drives demand, says Jan van Eck.
Frank believes we are in a secular bull market and highlighted gold’s positive track record: “Since the year 2000, gold has been up 80 percent of the time.”
Gold prices went on a rollercoaster ride on Wednesday, sinking below the $1,900/oz mark earlier in the session before overturning those losses later.
By 11:30 a.m. EDT, spot gold rebounded from an intraday low of $1,866.40/oz and advanced 1.4% to $1,938.42/oz. US gold futures were up 0.2% to $1,950.90/oz in New York.
Gold’s headline-setting rally over recent weeks has been engulfed by volatility as investors reassess the merits of one of the hottest pandemic-driven trades of the year.
US Gold (NASDAQ: USAU) is adding a new exploration project to its portfolio through its acquisition of Northern Panther Resource Corporation, which holds the Challis gold project in Idaho.
US Gold is currently focused on developing the advanced-stage Copper King project in Wyoming and the Keystone project in the Cortez Gold Trend of Nevada.
Under the terms of the merger agreement, US Gold has issued 581,053 restricted common shares to shareholders of Northern Panther as well as 106,894 shares of newly created preferred stock, each potentially convertible into 10 common shares of US Gold.
Gold and silver got pummeled on Tuesday. The price of gold dropped more than 5%, falling far below the $2,000 level. It was the worst single-day rout in seven years. Gold continued to fall in Asian trading Wednesday morning and briefly dropped below $1,900 before clawing back later in the session. Silver also had a […]
Gold rebounded Wednesday, extending a series of wild swings that saw the metal hit a record on Friday before plunging to below $1,900 an ounce.After surging about 30% this year, gold’s rally came to a sudden halt as U.S. bond yields rose. Bullion had been one of the best-performing commodities…
Central Banks Add More Gold in June BY SCHIFFGOLD for Schiff Gold Central banks added another net 18.1 tons of gold to their reserves in June, according to the latest data from the World Gold Council. The net total was pulled…
New video on the pullback from Mike Maloney: As Mike had mentioned in recent updates, he was hoping that gold and silver would go through a correction. That sure happened today, so what does it mean? Is this it? Will we go lower? Just what is going on? Join Mike for his take on this historic day in the metals markets.