Rick Rule: US dollar could lose 75% of purchasing power
Veteran investor Rick Rule says the US dollar could lose 75% of its purchasing power in ten years, making a five-digit gold price plausible. He views gold as wealth insurance.
Gold Market
Tagged: precious metals
Gold breaks $4,300 resistance, eyes $4,500 next target
Gold has broken through the $4,300 resistance level, according to technical analysis in the latest Gold SWOT report. The next major price threshold is now $4,500.
Gold nears $4,400 after weak US retail data hits the dollar
Gold climbed to within striking distance of $4,400 an ounce as weaker US retail sales and consumer sentiment data dragged the dollar lower, making bullion cheaper for overseas buyers.
Why Gold Is Quoted in Troy Ounces
Gold is quoted in troy ounces, a unit of weight with origins in medieval France, not the same as the ounce used for everyday goods.
Gold gains on softer dollar as steady inflation eases rate worries
Gold prices advanced towards a weekly gain on Friday, supported by a weakening US dollar and steady inflation data that cooled expectations of further Fed rate hikes.