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Gold Bulls “Back in Control” as Values Near 6-Year Highs

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By John McDonald As more precious-metals speculators buy up increasingly large amounts of gold, a rally that could take the metal higher than it has been since August 2013 gains steam. Gold values have hovered around $1,400 for several days, but with the Federal Reserve’s interest-rate cut coming in smaller than the markets and investors had hoped and economists warning the Fed is destroying its own credibility along with that of the U.S. dollar, gold is likely to sustain its rise for the duration of 2019, if not longer. As Edward Moya, a senior market analyst at Oanda Corp., said...

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Fed Interest Rate Cuts Could Hurt World Currencies Down the Road

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By John McDonald On Wednesday, July 31, 2019, the Federal Reserve cut interest rates for the first time in a decade in an effort to sustain the country’s longest-running economic expansion ever. Citing “downside risks from weak global growth and trade tensions,” Fed chairman Jerome Powell said he hopes the quarter-point cut will ultimately keep the national economy going strong. Unfortunately, the immediate effects mainly consisted of the S&P 500 falling the most it had fallen in about a month (1.1 percent) and a fair amount of presidential criticism for the already beleaguered chairman. The Cut Could Hurt Global Currency...

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“Strong Undercurrent” for Gold Could Mean $2,000 an Ounce in the Near Future

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By John McDonald Thanks to a vast array of long- and short-term geopolitical factors and economic trends, many precious-metals analysts believe gold could hit $2,000 an ounce in the near future. While most are unwilling to predict exactly when that might happen, the most bullish believe even a relatively short-term extension of trade tensions between China and the United States could send gold through the $2,000 ceiling as U.S. fears over a national recession continue to mount. Some cite momentum that has been building since 2003 for this expectation. “In the last eight to 10 years, we’ve seen a bull...

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