- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Top Stories This Week: Gold Breaks US$1,900, Russia/Ukraine Turmoil Continues
Gold briefly passed the US$1,900 per ounce level this week for the first time since mid-2021 as market watchers kept their eyes glued to the Russia/Ukraine situation.
Top Stories This Week: Gold Breaks US$1,900, Russia/Ukraine Turmoil Continuesyoutu.be
The gold price rose this week, breaking through the US$1,900 per ounce mark on Thursday (February 17).
After starting the five day period around US$1,850, the yellow metal rose to just below US$1,880 on Monday (February 14); it dipped back down to the US$1,850 level the next day before beginning a fairly steady ascent.
Gold remained just below US$1,900 at the time of this writing on Friday (February 18) afternoon.
Experts have identified a slew of factors that are moving the gold price right now, but perhaps the most obvious is tensions between Russia and Ukraine. The situation is developing quickly, but it's clear gold is benefiting from its safe-haven status — it's no secret that market participants tend to turn to precious metals during times of turmoil.
I heard from Jeffrey Christian of CPM Group this week, who said he expects to see continued volatility and uncertainty, not only in gold, but in the larger financial markets as well.
When asked what approach investors should take, he said while it's possible to trade gold price fluctuations, everyone needs to consider their own goals and limitations — a long-term approach is better for many people, and given the issues beyond Russia and Ukraine, it's probably a good idea to own more gold than less right now.
"There are a host of other issues, all of which sort of say you probably want to own more gold rather than less gold right now" — Jeffrey Christian, CPM Group
With this week's gold price move in mind, we asked our Twitter followers a simple question: What will the precious metal do next — go up, go down or consolidate? By the time the poll closed, most respondents said they think it will keep rising, with consolidation being the second most popular choice.
We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource and follow me @Charlotte_McL to share your thoughts!
While geopolitical tensions can cause gold price spikes, it's worth noting that they are often just that — relatively short-lived jumps. I also heard recently from Andy Schectman of Miles Franklin, who shared his thoughts on other underlying factors that should push the yellow metal higher in the long run.
Andy has major concerns about inflation and the US Federal Reserve's path forward; he believes the central bank will raise interest rates a little in an effort to tame inflation, but will then go back to lower rates and stimulus.
"They have chosen an inflationary path over austerity, over the tough decisions. And I have a really hard time believing that they will blow up the economy by letting rates rise" — Andy Schectman, Miles Franklin
Andy sees gold as a source of protection, but thinks silver is a generational opportunity. He referred to the white metal as the "most undervalued asset on the planet" due to growing demand and a lackluster supply picture, and warned investors that it's becoming more and more challenging to source.
His concluding advice? Look at precious metals as wealth and start to de-dollarize.
"There's no place safe to hide with the exception of precious metals in my opinion. So look at it as wealth, not as an investment, and start to de-dollarize" — Andy Schectman, Miles Franklin
Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
- Silver Outlook 2022: Supply/Demand Trends Could Catalyze Price ... ›
- Gold Outlook 2022: Consolidation a Launching Pad for Price Rise ... ›
- Gold Outlook 2022: Consolidation a Launching Pad for Price Rise | INN ›
The Beginner’s Guide to Investing in Gold(Part I, The Basics)
Ready to invest in gold? Our beginner's guide makes it simple to get started.
Download your investing guide today.
Learn About Exciting Investing Opportunities in the Gold Sector
Your Newsletter Preferences
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Learn about our editorial policies.