Have Gold prices bottomed or could they still go lower? [Video]

Phil Carr The Gold & Silver Club

Gold prices have made a flying start to December, surging back above $1,800.

Gold prices pulled back in November on positive COVID-19 vaccine news. This ultimately presented savvy traders with a series of very attractive opportunities to "buy back into gold at heavy discount" heading into December.

Whilst gold prices trended lower, the biggest beneficiary of the COVID-19 vaccine optimism was the industrial metals such as Platinum and Copper, which both posted their best-ever month, so far this year. Platinum prices have been on a tear throughout November – climbing over 14%, whilst Copper prices hit eight year highs.

As we head into the final month of 2020 – it goes without saying – the commodity bull-run is back on!

Any potential vaccine might kill the virus, but not the vast mountains of debt and economic damage caused by the coronavirus pandemic. Central banks are expected to maintain ultra-loose monetary policies, which inadvertently will lead to higher inflation and currency debasement throughout 2021 and beyond.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

Author

Phil Carr

The Gold & Silver Club

Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.

GBP/USD appears well offered near 1.3160

GBP/USD builds on Tuesday’s losses, although it now manages to pick up some pace and bounce off earlier multi-month troughs near 1.3140. The Greenback’s solid performance and continued political turmoil in the UK are keeping Cable under persistent pressure, with little sign of a meaningful recovery.

EUR/USD softens to near 1.1350 as Fed hike bets rise ahead of PCE inflation data

The EUR/USD pair declines to around 1.1355 during the early Asian trading hours on Thursday. The Euro weakens to its lowest level since June 2025 against the US Dollar as traders increase their bets on US interest rate hikes later this year. The US May Personal Consumption Expenditures inflation data will be the highlight on Thursday.

Gold struggles near YTD lows on hawkish Fed bets, bullish USD ahead of US PCE

Gold is seen consolidating around $4,000 during the Asian session on Thursday as bears pause following the overnight slump to the lowest level since November 2025. Despite easing inflationary concerns amid falling oil prices, elevated Fed rate-hike bets help the US Dollar preserve its recent strong gains to the highest level since May 2025. This might continue to undermine the non-yielding bullion as the focus shifts to the release of the US PCE Price Index.

Strategy MSTR shares drop to two-year low as Bitcoin dip below $60K

The common shares of Strategy fell below $100 on Wednesday for the first time since March 2024, extending losses as Bitcoin's prolonged decline continues to weigh on investor perceptions of the company's leveraged crypto strategy. The company's MSTR stock closed trading at $94, reflecting a 9.3% decline.

US-Iran talks: The next 60 days will decide where Oil prices go next

Oil markets received some encouraging news after weeks of rising tensions in the Middle East. But let’s not get ahead of ourselves: we’re far from victory, and markets just seem to have priced out the worst-case scenario. The US and Iran have reportedly made "substantive progress" in talks in Switzerland and agreed on a framework for working toward a broader deal within 60 days.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.