The gold market continues to see a lot of buying pressures, as we are looking for the market to continue to react to the Federal Reserve cutting rates, central banks buying gold, and of course a lot of geopolitical concerns.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
There are not many things in markets you can say with confidence, but here is one: investors have rediscovered their appetite for gold. According to Goldman Sachs, the yellow metal has broken out of its summer trading range and surged 14% since late August, hitting about $3,865 an ounce and clocking a 47% gain so far this year.
ACG Metals Ltd (LSE:ACG, OTC:ACGAF) has agreed new royalty terms at its Gediktepe mine in Turkey as it prepares to switch production from gold to copper. The London-based miner said the amendments, struck with partner EMX Royalty Corporation, would lower costs in the short term and improve cash flow during the transition.
Spot silver prices moved above the $47.50 level as rally continued.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
The U.S. federal government shut down one minute into October, bringing with it uncertainty about jobs and the economy.
S&P 500 at 5,700? Bitcoin at $80,000?
The timing of the U.S. government shutdown is critical as key jobs data will be delayed by the shutdown. Amid the uncertainty, risk assets lost ground, while gold continued its bumper rally.
"The world of real estate is changing from what I'd call the 'visible' to the 'invisible,'" said Kishore Moorjani, CEO of CapitaLand Investment's alternatives and private funds team. Data center demand has surged in recent years, largely driven by the explosion in AI workloads.
Gold's special quality as an all-purpose, antianxiety asset for investors is evident in its performance. The metal is up 43% this year alone, compared with 14% for the S&P 500.
Gold has been one of the investing stories of the year amid rising economic uncertainty for U.S. investors. Whether for tariff, stagflation, or concentration risk, gold has gained interest as a defensive play.