We Change Our Gold Performance Chart for the First Time Since 2008

Gold has doubled the S&P 500 and silver has doubled the Dow during a time of rising rates – yet the news this Wednesday morning still says gold is up “on speculation the Fed will begin interest rate cuts in September.

Recapping Why Gold Will Break $2,500 in 2024

As I head off to Freedom Fest, I thought I would update my 10 reasons why gold will top $2,500, first published here in April (Week 1).

Report on the Markets in the First Half of 2024

Precious metals had a spectacular first half of the year. Gold is well on its way to our predicted price of $2,500 by the end of 2024, and silver has already reached our $30 target, surpassing all stock indexes

Gold is Staying Above $2,300

Gold is Staying Above $2,300 as we approach the midpoint of 2024, so it is still within shouting distance of mine and Steve Forbes’ prediction of $2,400 to $2,500 gold for the calendar year “and even higher if the ‘wrong team’ wins the November election.”

We Won Another Numismatic Literary Award – For This Newsletter!

Another reason why it pays for customers to deal with our companies is they receive our free award-winning Metals Market Report each month. It also appears weekly on the homepage of our website. This report has won numerous awards over the years and most recently was awarded first place at the 2024 Press Club of Southeast Texas Awards Banquet for our newsletter titled, “Gold Rising and Poised for More Gains,” based on our October 2023 collaborative meeting with Steve Forbes. We both called for $2,400 to $2,500 gold in 2024, “and even higher if the ‘wrong guys’ win the election,” a prediction made when gold was $1,960 an ounce.

Friday Brought Us Yet Another Silly Excuse to Sell Gold Based on “Good News”

To speculators and market amateurs, Friday might be termed a “bloodbath” for the metals but that isn’t reality and gold’s short-term drop was just a reaction to sensationalized headlines based on an over-hyped jobs report and profit-taking. Gold has since started to recover this week.

Gold and Silver Still Affected by Profit-taking but Making Steady Upward Progress

As mentioned this past week, silver ran laps around gold and stocks in May and now that we have the complete monthly figures for the month, silver tailed off in the past week but still kept its commanding lead for the month (up nearly 15%) and year-to-date (up 27%).

Silver and Gold Making More Market Moves

Silver rose strongly over the Memorial Day weekend, up nearly $2 per ounce on the futures market, from $30.33 on Friday, May 24 to $32.24 (+6.3%) on Tuesday, May 28.

Gold Sets New High ($2,444) and Silver Reaches 11-Year High at $31.80

– Plus Copper (at $5), All Driving Up the Cost of the Three Olympic Medals 

An important note, is that global gold physically-backed gold exchange-traded funds, or ETFs, saw net inflows of more than $1 billion over the past week, the largest weekly inflow since October 2023, according to the World Gold Council.

Central Banks Continue Their Record Gold Buying Spree

The world’s central banks opened 2024 with the most gold buying in any opening quarter in history!