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Middle East Unrest To Push Gold, Bitcoin Higher – Gerald Celente

Kitco News

As uncertainty brews in the Middle East, with the latest political shakeup in Saudi Arabia and Lebanon continuing to make headlines, one market watcher says the trend seems to be heading towards a “war of bombs.” “Should the war of words escalate to a war of bombs, oil prices will pierce the $100-per-barrel mark in a matter of weeks, equity markets will decline and investors seeking safe-haven assets will drive up both gold and cryptocurrency prices,” says Gerald Celente, Publisher of The Trends Journal. Tensions between Saudi and Iran are escalating, which has pushed oil prices out of its range and to a two-year high. “While the media keeps its focusing on escalating tensions between the US and North Korea, our focus is on the Middle East…” he adds.

By Sarah Benali of Kitco News; sbenali@kitco.com

 

Don't Blame Bitcoin For Gold's Woes - ETF Securities

Wednesday November 8, 2017 09:28

Although the online search “buy bitcoin” has surpassed “buy gold,” one investment firm says it’s a mistake to think that the digital currency is responsible for the recent lackluster performance in the yellow metal. Maxwell Gold, director of investment strategy at ETF Securities, says that bitcoin’s performance is only a small part of a much larger picture. “This substitution between gold and Bitcoin demand, while possible in small amounts, is likely a spurious correlation. The more likely culprit for slowing retail investment in gold are strong equity returns year to date,” he says.

By Neils Christensen of Kitco News; nchristensen@kitco.com

 

ETF Securities: Silver Could See Strong Demand From Driverless Cars

Wednesday November 8, 2017 09:28

The growing desire to create autonomous vehicles could lead to a bright future for silver, according to Maxwell Gold, director of investment strategy at ETF Securities. “Silver is a great conductor of electricity and used in countless electronics and electrical components,” he says. “The more technology and automation applied to the future vehicle fleets may see a commensurate increase and usage of silver in aggregate with these systems.” While silver is seen as a monetary metal, nearly one-half of demand comes from the industrial sector. In an environment of stronger global growth, ETF Securities sees slightly more potential for silver than gold.

By Neils Christensen of Kitco News; nchristensen@kitco.com

 

FXTM: Gold Needs Catalyst To Break Out Of Current Range

Wednesday November 8, 2017 09:09

Gold is testing the top of its range as a result of a slightly weaker U.S. dollar but more is needed to drive prices out of the current range, says Lukman Otunuga, chief market strategist at FXTM.From a technical standpoint, the yellow metal still remains somewhat bearish on the daily charts, as there have been consistently lower lows and lower highs,” he says. “$1,280 remains an important resistance level and a failure of prices to close above that level may trigger a decline back towards $1,267 and $1,260.”

By Neils Christensen of Kitco News; nchristensen@kitco.com

 

BBH: U.S. Dollar Weaker On Tax-Reform Uncertainty

Wednesday November 8, 2017 09:09

The U.S. dollar is seeing broad-based weakness as investors doubt whether Congress will be able to pass tax cuts and reforms, say currency strategists at Brown Brothers Harriman. They note that the greenback is suffering after reports circulated that the Senate wants to delay corporate tax cuts until 2019. “We have always warned that nothing is written in stone, but the stark differences shaping up in the two versions suggests a very difficult period of negotiating ahead,” he said. The analysts add that the important Democratic victories in Virginia, New York City and New Jersey could add further uncertainty to tax reform. “The [election losses] will likely lead some Republican candidates up for re-election in 2018 to be more concerned about the impact of their votes on tax reform.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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