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Yahoo FinanceGold has been hitting record highs — why there's a bullish case for silver too
Silver bulls point to the industrial use of the metal as one of the catalysts expected to push prices higher.
- Yahoo Finance Video
Gold: 'Fear premium,' institutional dollars needed to fuel rally
Gold (GC=F) has been on a tear driven by geopolitical tensions and the bullion's safe-haven appeal. Citigroup (C) is the latest in a lineup of Wall Street banks to upgrade its forecasts for the precious metal's price. Sprott Asset Management CEO John Ciampaglia and GraniteShares founder and CEO Will Rhind join Market Domination to discuss the primary drivers of gold's rise and future directions for the commodity. On the magnitude of gold's strength, Ciampaglia states gold exited its slumber late last year after the Fed signaled a "pivot" was underway, a positive for gold as it competes with interest-bearing investments. Another key factor, Ciampaglia adds, is buying by central banks seeking to diversify away from US dollars as part of their overall foreign exchange mix. China is the leader in this particular de-dollarization strategy, Ciampaglia says, with Turkey, Singapore, and India following suit. Noting gold's strength amid macro factors, Rhind believes gold could hit $3,000 per ounce if there is further unrest in the Middle East. The GraniteShares founder advises investors to play gold through its ETF for direct price exposure. Gold has unique attributes as a safe-haven asset, Ciampaglia says, balancing against traditional stocks and bonds during times of unrest. Institutional investment in gold is lower at the moment, Ciampaglia adds, but if those dollars begin to enter the market, the commodity could be pushed to "new highs." The other "missing piece" in the gold market, Rhind says, is a "fear premium" that pushed the market to the highs observed in 2020. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This article was written by Gabriel Roy.
- Yahoo Finance Video
Barrick Gold stock falls after missing production estimates
Shares of mining company Barrick Gold (GOLD) are dropping after its production figures fall below estimates, including for a commodity like gold (GC=F) as prices for the precious metal soar. Yahoo Finance monitors the movement in Barrick Gold Corporation's stock. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
