Gold took a big tumble on Friday, closing down 5.9 percent at $1,639.80 an ounce. It was gold’s worst one-day percentage loss since June 2006 as investors sold metals to raise cash. Where do you think gold’s headed next? Visit our Facebook page at www.facebook.com/mfglobal, “like us” and cast your vote in our new weekly [...]
Gold has fallen back from its all-time highs, trading down $31 an ounce at $1,784 in mid-morning action. According to CFTC data released Friday, September 16, speculators were exiting bullish precious metals positions across the board, and gold’s price has reflected this turn. Gold is down about 3.5 percent for the month of September. Our [...]
Gold futures are lower in early trade, down more than $20 an ounce, as the U.S. dollar strengthened. Our Senior Market Strategist Phil Streible said gold could head to $1,800 in the near-term as investors are taking profits after the metal’s recent run, and other assets, including stocks, are selling off. He said he’s still [...]
Gold surged more than $53 to above $1,700 an ounce today in the wake of the S&P U.S. credit downgrade. MF Global Senior Market Strategist Phil Streible says he thinks within the next six months, gold could hit $1,830 as debt issues intensify in both the U.S. and Europe. Hear more from Phil in this [...]
Right at the final August 2 default deadline, Congress passed legislation to increase the $14.3 billion U.S. debt ceiling and called for spending cuts of $2.1 trillion over a decade. After the news of the Senate vote about mid-day, stock indexes and energy began to sell off, but gold held strong gains. The August COMEX [...]
The MF Global Research team provides its outlook for the markets in June in its “Monthly Makets Monitor.” The report covers interest rate products, commodities, foreign exchange, money market conditions, and U.S. and European equities. Some of the report’s highlights are below. Read the full June reprt from MF Global. If you’d like to see more [...]
Senior Market Strategist Phil Streible breaks down what Japan’s earthquake means for gold prices in the short-term. He said the reason gold isn’t seeing a big safe haven bid could be because Japan is selling precious metals to raise cash. View his interview on TheStreet.com.
Our Senior Market Strategist Phil Streible said there is “no doubt” gold will move up to its previous high of $1,434 hit in December, but if tensions in the Middle East ease and/or U.S. economic reports cause the dollar to rally, gold could sell off in the short-term as investors move to other assets. Hear [...]
Our Senior Market Strategist Phil Streible appeared on TheStreet tv and shared his thoughts on how global inflationary trends can cause investors to flock to precious metals.
Gold is struggling this morning despite the unrest in Egypt, which would seem to support a safe-haven bid. In an interview with thestreet.com, Lind-Waldock Senior Market Strategist Phil Streible discusses what’s influencing gold right now and what might drive prices back toward new highs.
