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2015: A Very Good Year for Gold

After some three years of disappointment, 2015 promises to be a good year for gold investors. While the near-term price outlook remains uncertain, I feel fairly confident that gold will be considerably higher at this time next year – and on its way to new historic highs in the years ahead. A number of factors, some interrelated, will drive gold higher. ...

Gold: Any Day Now . . .

Any day now, gold could find itself in a sustainable long-term uptrend – or not. What remains true is that near-term gold-price prospects remain uncertain with the continuing possibility of sizeable price moves in either – or even both – directions. What also remains true is the high probability that the yellow metal’s price will be considerably higher at this time next year – with a sustainable long-term upswing already underway. ...

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A Brief Note on Swiss Gold Referendum

In a national referendum planned for later this month, Swiss voters will be deciding whether or not the country’s central bank should begin buying more gold. Switzerland already owns some 1040 tons (about 33 million ounces), placing it in the top ten holders of central bank gold reserves behind the United States (with 8,133.5 tons), Germany (with 3,387.1 tons), the IMF (with 2,814 tons), Italy (2,451.8 tons), France (2,435.4 tons), China (with undisclosed holdings), and Russia (with over 1,100 tons). The so-called “Save Our Swiss Gold” proposal, if supported by more than 50 percent of ...

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Gold: Short-Term Risk vs. Long-Term Opportunity

Autumn has been a cruel season for gold investors. In contrast to some anticipated seasonal bump up, the yellow metal’s price has been driven lower by bearish technical indicators and excessive negative sentiment among a small number of large-scale institutional speculators – bullion banks, hedge funds, program traders and the like – trading mostly in futures and over-the-counter “paper” markets for very short-term gains while remaining indifferent to the metal's long-term bullish fundamentals. Despite this dismal performance and continuing bearishness among many traders, gold should still ...

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Is NOW a Good Time to Own Gold?

As a business economist and gold-market analyst, I am frequently asked about the economic outlook and investment-market prospects.  Most of all, clients and friends ask “Is now a good time to OWN gold?” My answer is always the same: NOW is always a good time to own gold. Importantly, we own the metal because, over time, its inclusion in a typical savings and investment portfolio provides a variety of benefits: ...

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GOLD: Balancing on a Knife Edge

It’s time to fess up:  Over the past week or two, I’ve been reluctant to say much about gold’s short-term price prospects.  Now, it seems to me that prices are set up for a big move . . . but in what direction?  That is the question. Gold markets can no longer count on rising geopolitical risk to gin up prices.  Lately, gold has largely ignored the myriad of risks that occupy the daily headlines.  Significant events attract some brief attention and a short-lived bump in safe-haven demand for a day or a week with briefly spurting higher before giving up any gains. If geopolitical events ...

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India: Propitious Times for Gold Ahead

We are soon entering a propitious period for gold in the annual calendar.  Historically, prices have moved higher as gold traders and buyers returned from their summer holidays. In reality it has been the approaching Indian holiday, wedding, and agricultural harvest seasons that have boosted gold demand and supported higher prices in world markets as summer draws to a close.With discouraging import duties and other anti-gold trade barriers still in place, it remains to be seen this year whether or not India will provide its usual seasonal boost to gold demand and prices in the world market ...

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GOLD Explained: A Brief Note on Recent Market Action

Gold's failure to sustain its recent price gains, gains achieved over the past few weeks, triggered a wave of computer-generated technical selling on Monday morning that, in minutes, knocked gold prices back down to psychologically important technical support levels just above $1300 an ounce. I do not subscribe to any of the various conspiracy theories to explain gold's latest tumble, even though the recent news and gold-market fundamentals suggest the yellow metal should be moving higher. (For more on this bullish view, see "Gold: Now is the Time," NicholsOnGold, July 2, 2014.) The ...

Gold: Now is the Time

I’m frequently asked, “Is now a good time to own gold?”  I’m no “gold bug” but I am super-bullish on gold’s long-term prospects.  I believe now is an excellent time to invest in gold . . . and I advocate investors hold five-to-ten percent (and for some, sometimes more) of their investment assets in physical gold. Importantly, gold’s inclusion in a typical investment portfolio provides a variety of benefits – portfolio appreciation, diversification, reduced portfolio volatility, risk reduction, inflation protection, and more.  And, one does not have to expect some economic or political ...

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India Spicing Up the Gold Market

Readers of NicholsOnGold know we have long been of the view that robust Indian gold consumption in the years ahead would be an important pillar supporting significantly higher prices in the world marketplace. But since mid-2013, the Indian government’s anti-gold policies have put this scenario on a temporary hold as buyers within India have been reluctant to incur the high cost of the government’s punitive anti-gold policies. ...