Kitco Newsn

The technical set-up for gold is quite strong at the moment and even though prices won’t break above $1,350 in the short-term, next year traders could see multi-year highs of $1,480, according to Westpac global head of market strategy Robert Rennie.

Things are looking up for gold after the Federal Reserve “capitulated” amid stock market volatility, said Adrian Day Asset Management CEO Adrian Day.

One successful approach to structuring a mining business is being “ambivalent” to gold price moves, said B2Gold CEO Clive Johnson.

(Kitco News) – Not only do central banks want more gold but some of them want to hold it in their own vaults.

(Kitco News) – During his second day of testimony to Congress, Federal Reserve Chair Jerome Powell said that the central bank is formalizing a plan that would stop the rundown of its balance sheet later this year.

Gold and silver prices are moderately lower in early-afternoon U.S. trading Thursday.

(Kitco News) – According to international media reports, Uzbekistan expects to increase its gold reserves to 430 tonnes between 2020 and 2024 as the country looks to develop its domestic gold deposits.

Gold prices have lost their modest early gains in late-morning action Thursday. The yellow metal faded as the U.S. dollar index moved slightly higher on the day and is trading near its session high.

Analysts at BMO Capital Markets say sentiment toward metals in general appears “surprisingly positive.” BMO this week held a major annual conference that always draws investors and chief executives of many of the major mining companies.

Barrick Gold Corp. (NYSE: GOLD; TSX: ABX) is continuing to tout the synergies as a major benefit to its proposal earlier this week to acquire Newmont Mining Corp. (NYSE: NEM) in an all-stock deal.