The price of gold hit another all-time high Tuesday, defying the notion that returns on the precious metal peak during periods of financial market distress.
U.S. dollar's pullback pushed gold to new highs.
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 are up 22% for the year after reaching new highs. More upside could be on the way, with a confluence of factors providing enough tailwinds to push the precious metal to greater heights.
Jordan Finneseth is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Gold rallied again in the early hours of Tuesday, as the markets continued to focus on the interest rate situation, and of course the central bank buying of the gold market. This is a market that will continue to be bullish form everything I see but might be a bit
Dollar Index drops to 7-month low as Treasury yields dip. Powell's upcoming speech at Jackson Hole may hold key insights on future Fed rate cuts.
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.
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.
The price of gold has risen to a new record high, meaning standard bar of gold is worth $1 million. Spot gold rose above $2,525 this morning, surpassing the previous all-time high from last Friday.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has estimated that current gold prices should mean the Tulu Kapi gold mine development in Ethiopia will generate cashflow equivalent to its expected debt in one year. Harry Adams, executive chairman, said: "At the current all-time high gold price of US$2,500 per ounce, the first full year net cash flow from Tulu Kapi operations is estimated at US$196 million (£154 million).