Gold Headlines

Gold notches back-to-back gain after brief dip in the wake of a fall in weekly U.S. jobless claims

“In these uncertain times, we expect gold prices to be volatile,” said Will Cai, partner and head of Wilshire Phoenix Funds. “A pullback this week is not unexpected and even hoped for by some as profit taking, price retracement and consolidation potentially set the stage for further upside,” he told MarketWatch. https://www.marketwatch.com/story/gold-prices-skid-lower-as-weekly-jobless-claims-fall-below-1-million-2020-08-13

Trump says UAE and Israel to normalize relations in deal that pauses West Bank annexations

Gold jumps on dollar slide, slow U.S. labor market recovery

The Selloff

I hadn’t planned on writing about the very sharp selloff that started yesterday (Tuesday) in gold and silver, but can’t imagine anything more on investors’ minds – mine included. No amount of prior mental foresight fully prepares most for the type of selloff underway – no declarations of an overbought technical condition, warnings of increase price volatility or of big shorts’ being backed into a corner and not giving up without a fight. Here, I would bow to that noted philosopher, Mike Tyson, …

Gold Rush (CNA TV / Singapore)

A $2 Trillion Credit Boom Leaves America’s Smaller Firms Behind

BOJ compensates for negative interest rates "offering banks hundreds of millions"

In China, fears of financial Iron Curtain as U.S. tensions rise

Gold climbs as weaker dollar bolsters appeal, long-term outlook positive (Reuters)

* Gold in consolidation mode, long-term outlook positive -analyst * Silver up over 1%, recovering from two-week low hit on Wednesday * Fed officials warn of muted U.S. growth until virus is contained https://www.reuters.com/article/global-precious/precious-gold-climbs-as-weaker-dollar-bolsters-appeal-idUSL4N2FF0D3

North Korea’s Office 39 Diverts Electricity to Gold Production