Gold price sees best week in 6 months


Gold rose more than $70 this week after finally cracking the psychologically important $1,800 an ounce level. Gold hit a 10-week high on much weaker-than-expected U.S. employment data, a lower U.S. dollar, and a retreat in U.S. Treasury yields. Here’s a look at Kitco’s top three stories.

3. After hitting the $1,800 level, analysts were busy speculating what’s next for gold. Many say there is momentum for higher prices, with growing inflation fears triggering risk-off trade into gold.

“With all the stimulus that is expected to come through, I can see why this narrative of more debt and higher inflation will continue to drive gold prices higher,” said Robin Bhar, an independent market analyst.

2. Bank of America said that the metal’s unprecedented run to 10-year highs of above $10,000 per tonne is just the start of a much larger move higher.

The bank is not ruling out copper hitting $20,000 a tonne as the market deals with significant supply crunch and growing demand. “If our expectation of increased supply in secondary material is wrong, inventories could deplete within the next three years, giving rise to even more violent price swings that could take the red metal above $20,000 per tonne,” Bank of America said.

1. Legendary investor Sam Zell bought gold after spending his career asking: ‘why would you want to own the metal?’

The 79-year-old American billionaire said he was pushed into buying gold due to concerns about fiat currency. “It has no income. It has costs to store, and yet when you see the debasement of the currency, you say, ‘what am I going to hold onto?'” Zell told Bloomberg.

The U.S. is not the only country that is printing too much money. And one of the natural reactions is to buy gold, he added.
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

Subscribe to our channel to stay up to date on the latest insights moving the metals markets.

For more breaking news, visit

Follow us on social media:
Facebook –
Twitter –
StockTwits –

Live gold price and charts:
Live silver price and charts:

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week:

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors:

Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.

The Many Ways to Take Advantage of Silver Pricing

People talk a lot about investing in silver, but they don’t necessarily talk about the many, many ways that you can invest in silver. After all, they talk about it like the only way to get in on the silver market is to go out and to purchase all the loose silver you can, or to…

How Exactly Silver Works As an Investment

Many people are interested in investing in silver, but don’t really know how it works. After all, the main form of investing that most of us who are interested in such things learns is investing in the stock market. The stock market works basically according to…

Taking Advantage of the Upcoming Silver Price Breakthrough

Silver is one of those investments where you can’t really go wrong. It’s very easy to lose a ton of money in the stock market, even if you know exactly what you’re doing. The same holds true of the real estate market, or many other commodities markets out there…

The Unconventional Investment Method of Buying and Selling Silver

These days it’s pretty common to hear about all sorts of somewhat alternative or unconventional methods of investing. This makes a lot of sense, considering that fact that the two biggest forms of investment in recent history (the stock market and the real estate…

Does Silver Still Make a Good Investment?

There has been a lot of talk lately about investing in silver. This should come as no surprise to anyone who has any sense of how investing works, how the stock market works, and how the price of precious metals works in relation to the above. In general…

A Step by Step Guide to Investing in Silver

If you are interested in buying silver as an investment, but you haven’t invested in silver ever before, than it can be more than a little intimidating to try and figure out the best way to gain entry into the market. After all, most people looking to get started in this…

The Two Main Ways to Invest in Silver Bullion

Lots of people want to invest in silver these days, and with good reason! It can be hard to watch as your stocks and real estate investments have swung around violently, bottoming out and slowly rising before crashing again, over the last couple of years. It’s natural that…

Can You Make a Ton of Money Investing in Silver?

Lots of people these days are interested in investing their money outside of the stock market. After all, the markets have taken enormous dives not once, but twice, in the last decade alone- and people who were invested heavily prior to the first crash in 2001 are…

Investing in Silver Without All the Hype and Confusion

It can be hard to read about investing these days without hearing about investing in precious metals like gold and silver. Investing in silver, especially, seems like a somewhat esoteric process that doesn’t necessarily make a lot of sense to everyone who…

Gold Bullion Coins – A Wise Investment Purchase

For anyone who has one eye on the investment markets, it is impossible not to notice just what an important role gold bullion coins have to play. There are obviously all sorts of gold commodities which can be invested in but it tends to be coins that the savviest of investors turn to. Gold bullion coins are not only an incredibly worthwhile venture from a return on investment perspective – they are also highly visually appealing and collectible in their own right.

You May Also Like