Gold has been in a bear market for well over a year now. Over the last two years, the price of gold has fallen from close to $1,800 per ounce to under $1,200. I Know First is able to predict how the price of gold will change over a future time period using a state-of-the-art predictive algorithm.
How does the current Gold and Silver market compare to past bear markets?
Gold mining shares down 41% in 3 months.
Gold drops 12.54% in 3 months.
Silver plunges 22.93% in 3 months.
Zijin Mining, the leading Chinese gold producer, is betting on lower gold prices for the end of 2014 and is already planning on how to counter them.
Understanding the true value of gold has always been a difficult task to achieve. Here are 7 key factors that can help you understand gold prices better.
This week’s Kitco News gold survey has shown mixed feelings for the direction of gold prices. Geopolitical risks and unexpected good economic data seem to be currently the two main points that help participants pick the direction.
Last Tuesday Former U.S. Representative Ron Paul said that gold “could go to infinity”.Yet, gold prices going up don’t necessarily mean that profits will do the same.
As Gold prices fall for a second week straight on strong U.S. economic data, Hedge Funds are still increasing their positions on gold, as concerns over the tension between Russia and Ukraine grow.
Gold fell to its lowest level since June 18th last Thursday on the NYMEX. Many analysts expect gold prices to drop further by the end of 2014 even though gold is currently up by more than 8% for the year.
Following strong technical performance and geopolitical worries, gold prices are expected to rise according to the weekly Kitco News Gold Survey.
According to research done by Bank of America Merill Lynch, America has surpassed both Saudi Arabia and Russia in the production of crude oil and liquids separated from natural gas in the last six months.
Platinum has neared a 10-month high on Tuesday, as platinum for October delivery (the most actively traded contract) closed at $US1,515.00 for a troy ounce on the NYMEX
Gold Posts first back-to-back quarterly gains since 2011
In 2011, gold prices touched $2000. However, since then the precious metal’s value has not fared well, falling 24% in 2013. Gold fell below $1,300 on Tuesday as the market focused on the U.S. Federal Reserve’s policy meeting and expectations for strong U.S. data although losses were limited due to demand for safe haven assets amidst increasing tensions between Ukraine and Russia, who is accused by the West of leading a separatist revolt in Eastern Ukraine after the country annexed Crimea in March.
