Gold is holding above $2,000 an ounce, but it’s not making any new significant gains. And silver is down more than 6% in the last five days.
Weaker economic data has reignited recession fears, keeping gold and silver on the sidelines because of lower demand expectations.
Here’s a look at Kitco’s top three stories of the week:
3. Palantir sells all of its gold-bar holdings worth $50 million
https://www.kitco.com/news/2023-05-11/Palantir-sells-all-of-its-gold-bar-holdings-worth-50-million.html
2. Confidence in Fed Chair falls to lowest on record as Jerome Powell attempts to balance inflation fight with banking crisis uncertainty – Gallup poll
https://www.kitco.com/news/2023-05-09/Confidence-in-Fed-Chair-falls-to-lowest-on-record-as-Jerome-Powell-attempts-to-balance-inflation-fight-with-banking-crisis-uncertainty-Gallup-poll.html
Americans’ approval of gold as best long-term investment doubles from last year, says Gallup survey
https://www.kitco.com/news/2023-05-11/Americans-approval-of-gold-as-best-long-term-investment-doubles-from-last-year-says-Gallup-survey.html
1. Gold price should be at $2,200 right now, U.S. dollar is overvalued by 20%, says BCA Research
https://www.kitco.com/news/2023-05-09/Gold-price-should-be-at-2-200-right-now-U-S-dollar-is-overvalued-by-20-says-BCA-Research.html
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36 Comments
I expect gold to be $2200 by the end of 2023 and to continue going up in 2024.
Keep up the good work Anna
With premiums, it is $2200.
It's being purposely held down a bit by the Central Banksters minions.
the eyes tho
Gold is Real Money…..😇
More
Stock market is “pumped up”, banks are falling like dominoes. Obviously savings & treasuries are not ideal, now gold and silver which I have apportioned a sum to buy are sidelined? Should I go ahead or hold on? Happy to discuss.
Gold is being disobedient by not trading where you say it should be trading?
Price is price. Gold is trading exactly where it’s supposed to be at all times.
A rejection from a triple top and gold bulls charge on to the slaughter house, obviously infected by a bug, a gold bug.
Should be trading at a lot more than that.. gitmo for market manipulating bankers
No it should be over 15k. These bankers and NGOs know if it bottoms and never gets below $2,067, everyone will know the dollar hit zero. It did that a long time ago but they don't want people knowing which is why the vastly unallocated paper markets needs to be manipulated until folks are ready for the reset
$3600 5 years
Gaboulova ! The eyes
Fair value is more like 10K if there weren't millions of ounces of non existent gold in the system.
That triple top was one hell of a rejection. I don’t think it’s good news for gold… hope I’m wrong for any gold bugs 🐜 good luck 🍀
Gold is holding at all time high level in Canada/Australia/Japan/EU/UK fiat term…that is all I need to know.
Who cares about some ones research. The world is at its worst monetary crisis most people can remember. Possible nuclear war, depression on the doorstop, world economy shut down with convid and tyranical nonsense from the WEF. $2200 !!!!!!!!!! dream on.
2200 after pacwest goes down!
Palanteer blew it! They will regret selling gold!
Gold is not trading at $2000 – no one is selling at that, no one is buying at that. That's a paper number to trade paper gold for other paper.
Palantir knows gold will crash below $1900 this year when the financial market crashes, best sell now and buy after the crash
her eyes are the rarest of minerals 🧐
Her eyes are oceans where dreams are reflected.
Should be trading at 40,000
$2600 gold in 10 years!!? Really? That is about 30% gain in 10 years…
Gold at $2600 in next 5 to 10 years. Lol. Not at the rate the governments are expanding the currency. More like in the next 12 months.
Gold will hit 3k sooner than you think. Mark my words.
The underlying driver for gold valuations is the anticipated launch of a gold backed crypto currency. Central banks stocking up on gold points in this direction. Watch the trends in purchase of gold by central banks to know where the price will go. Just an intuition.
Anna's English may be getting easier to understand but keep the subtitles.
i haven't seen eyes this blue since Morgan Fairchild
Gold will go up a lot higher than that in the next 5-6 years. Id just like to know silvers true price in an unmanipulated market without being suppressed and trading at a true fair price
so gold is boring and I'm not getting rich right.
"the market is wrong"
You are very smart, excellent reports, and I hope that kitco increases your role.