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Gold $1,976.27 2.81 (0.14%)
Silver $24.31 -0.01 (-0.03%)
Platinum $924.23 0.70 (0.08%)
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  • Gold prices moved higher in early trading on Friday after a "tepid" employment report.
  • Non-farm payroll numbers missed market expectations by 20,000 jobs.
  • The disappointing employment report may encourage the Federal Reserve to continue interest rate cuts which is bullish for gold.
  • Gold ended the week at $1,507.20/oz. Silver closed at $18.32/oz.

(Gold prices push higher following tepid US jobs data," Kitco, 9/6/19.)


Both individual and institutional investors continue their gold buying spree as a number of analysts are forecasting new record highs for gold.

  • JP Morgan analysts are gold bull market that will send prices above the prior record of $1900 per ounce. "The gold market could be due a major breakout in the coming year as fears escalate the US economy will slide into recession, according to a report by JP Morgan Cazenove. The bank's gold analysts John Bridges and Siddharth Mishra, writing ahead of the Denver Gold Show, scheduled to begin on September 15, said economic conditions may see gold purchases similar in scope to 2008 when the metal's price moved through $1,900 per ounce."
  • The principal analyst and editor of the financial website, commented on the rare phenomenon of both gold and the US Dollar rising and why this is bullish for gold. "The extraordinary rarity of the current circumstance—a volatile but sustained move into both gold and the USD—tells me that something big is going on. And even more striking is that gold is rising much faster than the USD. The gold line is accelerating upward while the USD line is decelerating. If those curves continue, the USD will be falling hard and gold will be hitting new nominal highs within two years.
  • Billionaire investor and CEO of Leagold, Frank Giustra, says gold is moving into an "explosive phase" with gold moving above $1900.  "'I think we're in the third and final phase of the gold market that's started in 2001, and this will be the most explosive phase for gold…' Giustra said that gold would reach 1,900 in the next months and a lot higher, but it depends on a lot of things. "It will be reckless not to have gold in your portfolio."
  • Bloomberg Professional Services told investors that gold is expected to outperform stock prices. "Bullish precious-metals drivers, including Federal Reserve easing, negative real yields and plunging bond yields, emanate from recovering stock-market volatility. The final pillar for gold and silver is a peak dollar. Gold is set for a period of outperformance vs. the stock market, if the last Fed easing cycle is a guide."

U.S. consumers are more fearful about the economy as the U.S.-China trade war continues unabated and recession signals flash brighter.

  • CNBC identified eight "major" indicators that a warning about a pending recession. They include the bond market which "historically a trusty signal of an eventual recession," a slowing economy, reduced corporate profits and gold prices: "Gold prices have soared more than 20% since May when the U.S. and China escalated their tariff fight. Similar to government bonds, gold is known as a safe haven trade in times of economic uncertainty."
  • Former Fed Reserve Chairman Alan Greenspan, believes that the U.S. will soon join other nations who have implemented negative interest rates. "' "You're seeing it pretty much throughout the world. It's only a matter of time before it's more in the United States…' He added that gold prices have been surging recently because people are looking for 'hard' assets they know are going to have value down the road as the population ages."