Gold Headlines

Gold shines on falling dollar, yields; global stimulus supports shares

Gold scaled a new high on Wednesday as a weaker dollar and falling bond yields burnished its safe-haven appeal, while shares ticked higher as investors turned their focus to stepped-up monetary and fiscal support globally. .. Markets also latched on to comments from the president of Federal Reserve Bank of San Francisco that the U.S. economy will need more support than initially thought, sending long-term Treasury yields into a downward spiral. https://www.reuters.com/article/us…

Britain's banks brace for $22 billion loan losses as outlook darkens

Gold hits record above $2,000/oz on soft dollar, stimulus bets, Silver rises to more than 7-year high

“The drop in the dollar and nominal yields, as speculation remains rife about global growth and any U.S. fiscal package, is what fundamentally drove gold prices higher,” IG Markets analyst Kyle Rodda said. https://www.reuters.com/article/global-precious/precious-gold-hits-record-above-2000-oz-on-soft-dollar-stimulus-bets-idUSL4N2F70NO

Highest-Level U.S. Trip to Taiwan in Decades to Challenge China

Gold spikes to record as BofA predicts $3K price tag

Gold price hits $2,000 for first time on Covid-19 and inflation fears (FT)

"Investors stashed a net $7.4bn of cash into gold-backed ETFs last month, according to data from the World Gold Council — adding to the record $40bn they invested in the first half of the year.  Gold would benefit as bond yields continued to slide and inflation started to materialise, said Jim Luke, a fund manager at Schroders. US 10-year real yields, which take into account inflation, fell to an all-time low of minus 1.02 per cent this month. “We’re in a world where inflation will…

Gold ends above $2,000 for the first time in history (MarketWatch)

“When you’re looking at what [DXY, 10 year real yields] levels we would need to see gold at $2500 per ounce, it is combinations like the DXY at 90 and real rates at minus 2,” said Michael Widmer, metals strategist in comments included in an Aug. 3 research note, citing a July 30 call with clients featuring Widmer and commodity research analyst Francisco Blanch. https://www.marketwatch.com/story/gold-prices-edge-higher-but-march-to-2000-hamstrung-by-rising-dollar-2020-08-04

Dollar rally fizzles as investors eye stimulus talks in Washington

Massive blast sends seismic shock across Beirut, causing thousands of casualties

The Spot Gold Price Breaks $2,000/oz (chart)

The US Dollar Spot Gold Price was quoted for the first time in its history at $2,000+, shortly after 12:18 p.m. Eastern: Watch the Live Gold Price (spot) action here: https://goldseek.com/chart/gold-24-hours