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.
Gold has rebounded from $3,260 and is consolidating as it awaits the next direction, while silver remains bullish following a strong correction in the gold-silver ratio.
Gold maintains its uptrend in the early Asian session following overnight gains.
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.
Investors are pouring money into the precious metal, and Diamond District merchants are reaping the benefit.
Gold stocks were in favour on Thursday afternoon, buoyed by a rebound in bullion prices following a sharp midweek pullback. The spot price rose 1.6% to $3,348.10 an ounce, reversing some of Wednesday's losses after gold briefly slipped below $3,300.
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.
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.
Gold prices have been on a tear with the recent trade turmoil driving investors to the safe haven, while competing assets such as the U.S. Treasurys and the dollar have tumbled. J.P. Morgan expects the yellow metal to reach $4,000 by the second quarter of 2026 and an average of $3,675 per ounce by the fourth quarter of 2025.
Gold rose in the early Asian session amid lingering uncertainty over the U.S.-China trade war, which could enhance the safe-haven appeal of the precious metal.
Gold reversed from its $3,500 peak, forming a bearish pattern that suggests potential for further downside toward key support zones and retracement levels.
Jeremy Szafron joins Kitco News as an anchor and producer from Kitco's Vancouver bureau. Jeremy is a seasoned journalist with a diverse background covering entertainment, current affairs and finance.