Graniteshares Gold Trust ETF News

Gold has jumped up to a fresh eight-month-high this week and it may not be done yet, as an end to the Russia-Ukraine threat doesn''t yet appear near.

Gold futures fell on Friday to settle below the $1,900 mark, but still gained just over 3% for the week. While "war fears dominate the headlines, I believe the main driving force behind this rally remains rising inflation," said Peter Spina, president and chief executive officer at GoldSeek.com, adding that there may be a $20 "war premium" already built into gold prices. Gold may "swing and pullback" from the $1,900 mark, but "as we have seen for the last weeks, pullbacks get bought and the price reverses higher," said Spina. "The trend is up, and the gold price can quickly continue climbing here to its next technical price target of $1,920." April gold fell $2.20, or 0.1%, to settle at $1,899.80 an ounce after touching a high at $1,905 - the highest intraday level for a most-active contract since June of last year, FactSet data show. For the week, prices were up 3.1%, FactSet data show. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.

Here''s the best way to play the pop in gold prices.

The Fed appears to be willing to take it slow

(Kitco News) - The threat of a potential war in Eastern Europe and fear that central banks won''t be able to contain inflation has pushed gold prices to $1,900 an ounce, an eight-month high. Solid bullish sentiment indicates that price could go higher in the near term.

Gold prices jumped to an eight-month high on Thursday, closing in on the key $1,900 /oz mark.

Gold is coming sharply to the upside as a “safe haven” asset based on the latest US-Russia tensions. Higher inflation is also one of the reasons for higher metals. Technically we see prices are coming up from 1780 in an impulsive fashion after 1854 was broken, but we see gold in a fifth wave now […] The post Gold May Slowdown for a Correction: Elliott Wave Analysis appeared first on Action Forex .

(Kitco News) - Much focus recently has been put on the next month''s Fed meeting with the markets fully pricing in a rate hike. Strategists at Australia''s ANZ bank say that rate hikes may not necessarily mean that gold will fall.

Peter Schiff: The Fed Is Running Out Of Minutes Via SchiffGold.com, The Federal Reserve released the minutes from its January FOMC meeting on Wednesday (Feb. 16). While there was some talk about taking on inflation, it doesn’t appear the central bank is really serious about an inflation fight. In his podcast, Peter Schiff talked about the most recent inflation data and the Fed’s response. He said the central bank is quickly running out of minutes. Gold has rallied to 8-month highs, even with some selling after the situation in Ukraine seemed to deescalate. But as Peter noted, geopolitical tension was not the real driver of this gold rally. It’s the inflation freight train . The underlying trend has nothing to do with that threat. The real threat is inflation. That’s why investors are buying gold. And that’s why they bought the dip on Tuesday, and we rose to new highs on Wednesday, because we got a lot more inflation data.” Specifically, we got the producer price data for January . They doubled expectations, up a full 1%.

Prices to average $1,700 an ounce, says Fitch Solutions

US and European stock futures bounced back on Friday and selling pressure on Asian shares eased after the US Secretary of State agreed to a meeting with Russia''s foreign minister, over Ukraine crisis.

Bitcoin declined towards the $40,000 level while gold rallied towards $1900.

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Gold price remains at the mercy of the geopolitical developments concerning the Russia-Ukraine crisis so far this week. The expectations of an imminen