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Gold keeps winning.
This week kicks off with more bullish forecasts on the yellow metal. We also have some international news from India, and some breaking new from the gold refinery industry you may want to check out.
Let’s dig in!
Commentary
Interest in Silver and Gold Still High Despite Future Exchange Take-Downs
Last week, gold and silver prices were taken down sharply on the futures exchanges. However, investors are still eager to purchase these “safe haven” metals. So far, they have seen their precious metals advance…gold and silver are proving to be a resilient pair despite efforts to crash their prices, but they seem to have hit a ceiling of $1810 for gold and $19.50 for silver, failing to stay above those prices for any length of time. Lawrie Williams thinks it won’t be long before these price levels are breached significantly.
SEE WHAT EVENT IS COMING THAT COULD TRIGGER SUSTAINABLE NEW HIGHS FOR GOLD AND SILVER
Latest News
Gold Surge Puts Miners on Long Winning Streak
The yellow metal rally we are seeing now has put miners on track for their longest winning streak in more than a year as investors are still flocking to safe havens as COVID-19 continues to bring a lot of uncertainty to the economy. A gauge of companies that produce gold are set to gain for the sixth straight week. This is the longest stretch of gains since June 2019, according to the index tracking senior gold miners.
SEE WHAT BARRICK GOLD CORP. HAD TO SAY ABOUT GOLD PRICES
Commentary
Notoriously Conservative Gold Forecaster Extremely Bullish on Gold
Vancouver Island-based Martin Murenbeeld and his team of analysts have proven to be one of the most accurate forecasters of the gold prices over recent years. He’s known to be very conservative when it comes to gold, and Murenbeeld is considered to be a cautious bull—but he’s worth listening to, because when you compare his gold forecasts to many ultra bulls out there who are fixated on rapid upward moves in gold prices, Murenbeeld’s tempered bullish predictions have shown to be a lot closer to gold’s real price performance to date. What Murenbeeld and this team at Murenbeeld & Co. do is propose three different gold price scenarios, apply a… READ MORE
International
India Drops Gold Imports By 94% in April-June
India has reduced their gold and silver imports to help narrow the country’s trade deficit, difference between imports and exports, to USD 912 billion during Q2 2020. India is the world’s largest gold importer, primarily to meet their high demand for gold jewelry. Due to narrowing of trade deficit, India recorded a current account surplus of… READ MORE
Interview
James Turk Says Gold on the Verge of a Breakout That Will Spike Prices
There is one major hurdle for gold—that’s what James Turk wants you to know. In this interview with King World News, Turk explains why everything is looking great for precious metals. He says the price of gold will spike to $1900 soon. SEE HIS INTERVIEW HERE
Latest News
Gold Refiners Face Scrutiny Over Sourcing
Sourcing questions are arising again in the gold industry. A report from Global Witness alleges one of the world’s largest gold refiners has done business with a supplier that bought conflict metal originating in Sudan. This has brought on many advocacy groups to urge the London Bullion Market Association (LBMA) to better monitor producers. Gold is one of four conflict minerals that American listed companies from Tiffany & Co. to Apple Inc. must trace and report on to the US Securities and Exchange Commission. Suppliers are coming under pressure to show they have… READ MORE
Thanks,
Gold Silver Central
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