Gold is holding above $2,000 an ounce, but it’s not making any new significant gains. And silver is down more than 6% in the last five days.
Weaker economic data has reignited recession fears, keeping gold and silver on the sidelines because of lower demand expectations.
Here’s a look at Kitco’s top three stories of the week:
3. Palantir sells all of its gold-bar holdings worth $50 million
2. Confidence in Fed Chair falls to lowest on record as Jerome Powell attempts to balance inflation fight with banking crisis uncertainty – Gallup poll
Americans’ approval of gold as best long-term investment doubles from last year, says Gallup survey
1. Gold price should be at $2,200 right now, U.S. dollar is overvalued by 20%, says BCA Research
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.
Read the full article from here