All indications are that the geopolitical tensions will continue to support gold at this juncture, with the breakdown in the U.S. dollar adding even more ammo to the run.
More Quotes from Peter Spina:
Uncertainty on future FOMC interest-rate hikes, with a strong bias of at least another quarter-point increase at the next meeting, gave the U.S. dollar a lift after the FOMC decision Tuesday afternoon.Peter Spina
Gold continues to perform very well, despite calls from industry analysts that a correction is due at these levels. In fact, gold does not appear to want to correct just yet and is looking to run to 600.
Peter Spina
News that the German government has deserted plans to invest proceeds from gold sales into a special fund assigned for research and education has given a boost to a weak gold market.
Peter Spina
The launch of the silver ETF is expected to draw large investment money into the silver markets, which would most indisputably take silver prices much higher.
Peter Spina
Gold Fields had a stellar second-quarter earnings release Thursday, with a combination of a strong Rand gold price, slightly lower production costs and an increase in production to 1.04 million ounces (from 993,000).
Peter Spina
We are undergoing a healthy bull market consolidation, with the likelihood there may be more pain to the downside.
Peter Spina
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