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What we are seeing is that all markets are basically in a coma; equities are creeping to new highs while precious metals remain weak. Gold had a nice finish last week, but as we can see this morning, the critical level of $1,785 December Gold is being rejected. There is no reason to expect that […]
I think that the talk of tapering would in fact be supportive of the dollar, that would put some pressure on gold,” Wagner told David Lin, anchor for Kitco News. …Read the full story
8 ‘flash crash’ and bounced back above its June lows, the yellow metal’s renewed sense of swagger hasn’t been mimicked by its precious metals peers. And with the bearish underperformance often a precursor to profound medium-term drawdowns, the precious metals are behaving like its 2012-2013. On top of that, with the shape of gold’s recent […]
Biden signed an Executive Order setting an ambitious new target to make half of all new vehicles sold in 2030 zero-emissions vehicles, including battery-electric, plug-in hybrid electric, or fuel cell electric vehicles. “These demand additions imply a risk that the market value of lithium could rise from $6B at present to $36B by 2030. “Given […]
“There is no top price for Bitcoin because there is no bottom for fiat money” said Max Keiser, Host of The Keiser Report. “If you are going to price Bitcoin and fiat money, the price is infinity, because fiat money has no bottom, while Bitcoin has no ceiling. “Everything that came after Bitcoin is essentially […]
With these transactions completed, the company is well positioned, with $70 million in cash and no debt, to advance the projects within our portfolio to achieve our goal of building a mid-tier gold producer,” stated CEO Ewan Downie. i-80 Gold is a Nevada-focused mining company with a goal of achieving mid-tier gold producer status. …Read […]
Labor Department said that 943,000 jobs were created in July, handily beating consensus expectations of 870,000 jobs. “I think we’re seeing traders in markets that closed before the carnage was clear on Friday now take action,” said Independent Speculator’s Lobo Tiggre in an email to Kitco Sunday evening. …Read the full story
The Canadian bank was targeting $1,730 an ounce as they were expecting the precious metal to break below support at $1,750 an ounce. In turn, the strong jobs data helped catalyze significant liquidations as the Fed’s dual focus on inflation and jobs places additional attention on employment data, with global markets attempting to gauge the […]
The Canadian bank was targeting $1,730 an ounce as they were expecting the precious metal to break below support at $1,750 an ounce. In turn, the strong jobs data helped catalyze significant liquidations as the Fed’s dual focus on inflation and jobs places additional attention on employment data, with global markets attempting to gauge the […]
Sentiment was shaken by a sudden dive in gold as a break of $1,750 triggered stop loss sales taking it as low as $1,684 an ounce. However, the pace of tapering was still up in the air and would decide when an actual rate hike came, he said. …Read the full story
– India’s gold imports for the month of July more than doubled in comparison to the year-earlier to their highest level in three months. …Read the full story
nonfarm payrolls rose by 943,000 in July, according to the Bureau of Labor Statistics. “These measures are down considerably from their highs at the end of the February-April 2020 recession. “With many states set to see the unemployment benefit top-ups expire in early September, healthy job gains should continue ahead, in line with elevated job […]
labor market as many analysts and economists see it as a critical factor in the Federal Reserve ‘s monetary policy decision. The selling pressure comes after prices tested resistance at the 200-day and 50-day moving averages for the fourth time since mid-July. December gold futures last traded at $1,806.10 down 0.%46 on the day. …Read […]
Bond yields in New York ‘s afternoon session dropped to a session low of 1.16%, which in turn has pushed spot gold prices to $1,815.40 an ounce, roughly unchanged on the day. According to consensus reports, economists are expecting that 895,000 jobs were created in July. “Technically, gold prices may be forming a ‘Double Top […]
– Inflation pressures continue to rise, which has pushed real interest rates deep into negative territory. In a report published Thursday, analysts at Degussa explained that the market ‘s lackluster performance is partly because central banks have successfully convinced consumers that higher prices are just temporary. Degussa also warned that central banks are being a […]
