Precious Metals Gold Silver Copper
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Gold Silver Intraday Technical Analysis Forecasts January 17 2020
Intraday gold silver forecasts are updated at the begining of the European market day.
Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
Gold Hits Multi-Year Highs
January 07 2020 - Gold Stocks Investing: Gold Price Nears 6-Year High On Iran Tensions By Investors Business Daily
The spot gold price jumped more than 1% Friday on escalating Iran tensions, clearing $1,550 an ounce, before easing off its highs. A dovish Fed and escalating China trade war fueled a gold price surge through much of 2019, sparking gold stocks and interest in gold investing. Yet, even before a U.S. drone strike killed Iranian Quds Force commander Qasem Soleimani, the price of gold had remained resilient since the U.S. and China reached a trade deal to peel back tariffs and the Fed stopped cutting interest rates.
The price of gold is now just below the six-year high hit around the time President Donald Trump and Chinese President Xi Jinping exchanged their last round of tariffs on Sept. 1.
What has been behind the persistent strength? The recent softening of the U.S. dollar against international currencies has bucked up the dollar value of gold. The Fed, after three quarter-point rate cuts in 2019, may be done. But interest-rate hikes are off the table for 2020 as the Fed aims to boost inflation above its 2% target. Policymakers now think too little inflation, not too much, is the overriding concern. If they're right, real interest rates, the biggest factor influencing gold prices, can remain supportive even as the global economy improves.
But what if the Fed is making a mistake, and inflation has a resurgence? Well, that also might work out pretty well for gold investors. Institutional investors like gold as a hedge against inflation and uncertain times. After all, gold has proved its ability to hold value over centuries.Likewise, if the U.S.-Iran conflict proves disruptive to international oil markets and the global economy, the price of gold could gather steam.
So does investing in gold make sense for individual investors now? Here are some key things to consider when deciding when, whether and how to invest in gold, either via gold stocks — such as Kirkland Lake Gold (KL), Barrick Gold (GOLD) and Newmont Goldcorp (NEM) — or gold ETFs.
Also, don't forget about silver miners such as Pan American Silver (PAAS), with silver outperforming gold in recent months.
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