GoldCore Precious Metals Update

Gold
Gold is continuing its positive momentum and hit a 7 week high of $958.40/oz earlier this morning. If it continues this positive run, all time highs are likely to be challenged when it can break through, and stay above, a major resistance of $966/oz. Any correction is expected to be short lived as continuing dollar weakness and a higher oil prices add to the positive fundamentals of gold. Gold’s strength is all the more remarkable given the fact that the western consumer world has been a massive seller of gold in recent months (very significant scrap jewellery sales) and yet despite this very large increase in supply gold remains near record highs (nominally). Gold’s traditionally weak period is the summer months, when market participants take holidays and physical demand slows, is coming to an end in the coming weeks and the end of the summer doldrums should see gold target the $1,000/oz mark once again.

Silver
Silver broke through the $14.00 level and went as high as $14.08. A sustained hold above $14/oz would be a positive sign for silver and could see it quickly challenge $15/oz.

Platinum group metals
Platinum closed last month at $1,206/oz and promptly fell below $1,200/oz for the whole of July. It pushed through $1,200/oz last night and briefly touched $1,209/oz before settling at $1,204/oz. Palladium seems to have stalled slightly at $256/oz and rhodium is $15,10/oz/$1,610/oz.

Mark OByrne

Also on news-goldcore-com

Videos

What we can Learn from the International Gold Market

Jim Rogers Interview 2022

US CPI Data Release Update

Blog posts

Brace Yourself for the Impact

Fed’s message this week – higher rates, lower economic growth, higher unemployment. The Fed hiked interest rates by 75 basis points for the third straight meeting and the statement said that the committee anticipates further increases. The Summary of Economic Projections (SEP) showed that the median projection is for a further 1.25% increase by yearend. […]

READ MORE

What we can Learn from the International Gold Market

Today’s guest on GoldCore TV thinks it’s very likely that in the next ten years we will be moving onto a new gold standard. It is of course, not uncommon for gold market commentators to say something along these lines. But Jan Nieuwenhuijs is a gold analyst, who is bringing the chat around gold demand […]

READ MORE

Jim Rogers Interview 2022

We last spoke to Jim Rogers way back in January. He told us then that we were set to see the ‘worst bear market’ in his ‘lifetime’.  Since then, a lot has changed. Russia has invaded Ukraine, inflation has gone on a tear, Europe is facing a major energy crisis and the US has been […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

What we can Learn from the International Gold Market

Jim Rogers Interview 2022

US CPI Data Release Update

Blog posts

Brace Yourself for the Impact

Fed’s message this week – higher rates, lower economic growth, higher unemployment. The Fed hiked interest rates by 75 basis points for the third straight meeting and the statement said that the committee anticipates further increases. The Summary of Economic Projections (SEP) showed that the median projection is for a further 1.25% increase by yearend. […]

READ MORE

What we can Learn from the International Gold Market

Today’s guest on GoldCore TV thinks it’s very likely that in the next ten years we will be moving onto a new gold standard. It is of course, not uncommon for gold market commentators to say something along these lines. But Jan Nieuwenhuijs is a gold analyst, who is bringing the chat around gold demand […]

READ MORE

Jim Rogers Interview 2022

We last spoke to Jim Rogers way back in January. He told us then that we were set to see the ‘worst bear market’ in his ‘lifetime’.  Since then, a lot has changed. Russia has invaded Ukraine, inflation has gone on a tear, Europe is facing a major energy crisis and the US has been […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE