All indications are that the geopolitical tensions will continue to support gold at this juncture, with the breakdown in the U.S. dollar adding even more ammo to the run. |
As Iran returns as a focal point for investors, aided by talk of Chinese increase in gold holdings, [that] should keep a flame under gold this week. |
As is so often the case in the precious metals, corrections tend to be vicious and quick. With the major move higher over the past several sessions, the gold market is working off some of the excesses. |
Equities remain ready to run even higher if the metals allow them to. Otherwise a correction is due. |
For the short-term, we expect silver to add onto gains in the coming sessions and possibly spike much higher before we find the next large liquidation and correction. |
Gold continues to perform very well, despite calls from industry analysts that a correction is due at these levels. In fact, gold does not appear to want to correct just yet and is looking to run to $600. |
Gold Fields had a stellar second-quarter earnings release Thursday, with a combination of a strong Rand gold price, slightly lower production costs and an increase in production to 1.04 million ounces (from 993,000). |
Gold is testing the waters around $600. |
Gold moved closer to the $600 level. |
Gold, silver and platinum started the week off on positive footing with continued excitement in the silver markets regarding the proposed silver ETF in the United States. |
HUI is indicating a further move higher now looking to target the 330-340 level. |
Iran continues to provoke conflict and the gold price is reflecting that sense of uneasiness. Iran knows they have leverage here, especially with oil above $70 and the U.S. dollar becoming ever so vulnerable. |
It is just a matter of time before we have another leg down in the U.S. dollar and this will just add to the luster of gold and silver. |
It's difficult to see how much investment demand will be caused by this yet, but due to the lack of silver investment products ... this should attract some good interest. |
Metal equities took a thrashing and it appears there may be more weakness in the short term here. |