Consolidation for gold and silver is timely, given recent unprecedented performance. But is it sensible to lock in some profits?This week, against a background of the BRICS summit in Kazan gold and silver paused, consolidating their recent heady runs. In European trade this morning, spot gold...
Read MoreLast Friday, President Putin ruled out a new BRICS currency for now saying that it is not under consideration, promoting trade settlement in national currencies instead. The idea of a common BRICS gold-backed currency was first mooted over a year ago, with the Russian embassy in...
Read MoreAhead of the BRICS meeting at Kazan, gold soared to $2700+ this morning. Is a new gold backed trading currency discounted? Do you buy the rumour and sell the fact?Gold and silver continued to rise this week, driven by strong demand during Chinese trading hours, backed up by growing...
Read MoreGold and silver are now nicely set up for higher prices in the runup to the BRICS summit in eleven days’ time. But after that, will there be profit-taking and a pull-back consolidation? After a sell-off on Wednesday completing a 10-day consolidation, spot gold saw a resumption of...
Read MoreWill the Sino-Russian partnership introduce gold backing for a trade settlement currency, replacing the dollar? And what would be the consequences for the dollar?The annual BRICS summit in Kazan is rapidly approaching. Among the issues likely to be on the agenda are a proposal to create a new...
Read MoreThe developing conflict between Israel, Iran, and its proxies is escalating and America is being drawn in. Middle Eastern demand for gold over dollars is only just starting to impact bullion markets.Both gold and silver consolidated in a tight range close to all-time highs this week. Spot...
Read MoreStagnating economies together with high government debt loads inevitably create funding crises and debt traps. Nowhere is this problem more destructive than for the fiat dollar.But it’s not just the dollar. Economies in the Eurozone and the UK have insufficient growth to support their...
Read MoreIt has been an excellent week for gold and silver bulls. But is a correction now due, and if so, how deep and for how long? It looks like being severely limited.Gold continued to make new highs this week, today trading below yesterday’s best level of $2685 spot this morning in European trade...
Read MoreUS equity markets seem ripe for a significant pullback, or even a severe bear market, with bond yields unlikely to fall much before rising again. If so, how will it play out for gold?The Fed’s 50 basis point cut in its fund rate was more than expected, other than by optimistic equity bulls....
Read MoreAfter a bullish performance last week which took gold to new highs, will it hold on to them, or is a correction overdue? Read on…This week, gold and silver consolidated recent rises with gold trading at $2608 in early European trade, up $35 on the week after last week’s spectacular rise. And...
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