We begin with a tip of the cap to mighty JPMorgan Chase, which in recent weeks projected a Gold price (’tis said some several years out toward decade’s end), achieving the 8300 area, and even 6300 this year.
Chinese demand played leading roles in fueling both gold’s recent monster record bull and popular speculative mania into late January. That left gold at its most-extreme overboughtness in 46 years.
Once again, the wild rollercoaster ride of precious metals prices exemplifies the classic dynamic of speculative overheating followed by a healthy correction within a secular bull market.
Ira Epstein discusses the current state of the metals market, highlighting a slight rally in the evening and the geopolitical tensions involving the U.S. and Iran...
Ira Epstein discusses the current state of the metal markets, highlighting declines in gold, silver, and copper, and the recent volatility in copper prices.
Gold still finished the week higher, reclaiming the $5,000 level as cooler U.S. inflation data lifted expectations for Federal Reserve rate cuts and pressured Treasury yields lower.
