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Gold & Silver Market Analysis for Monday 23rd of August
The gold price is holding steady, while investors are awaiting the Jackson Hole Symposium.
Gold started the new week in fractional green, with the price continuing to play with the resistance area of $1,785 – 1,790.
Investors are focused on the Jackson Hole Economic Policy Symposium – an annual central banking conference to foster open discussion about policy matters – which is taking place on the 27th of August and is expected to be the main market driver for the week. The Federal Reserve Bank of Kansas City announced on Friday that the conference will be held online, differently than originally planned. This suggests that the current Covid-19 variants are of great concern to the US central bank. Read More
Gold, silver rally on bullish outside mkts, notions of still-easy Fed
Gold and silver prices are solidly higher in midday U.S. trading Monday. The key outside markets are fully favoring the precious metals bulls to start the trading week—a weaker U.S. dollar index and sharply higher crude oil prices. The precious metals are also getting a bid early this week on growing ideas the Federal Reserve will not be able to start tightening its monetary policy as soon as many had reckoned just a few weeks ago. October gold futures were last up $23.00 at $1,804.80 and September Comex silver was last up $0.553 at $23.665 an ounce. Read More
These countries bought, and sold, the most gold last year; Jeff Christian explains
Jeff Christian, managing partner of the CPM Group, discusses with David Lin, anchor for Kitco News, the countries whose central banks netted the largest changes in gold reserves this past year. Read More
Hedge funds exit their bearish bets ahead of Jackson Hole
According to some analysts, the gold market could have a solid floor around $1,700 an ounce as the latest trade data from the Commodity Futures Trading Commission showed that the precious metals flash crash provided some investors the opportunity to cover their bearish bets and buy at a discount.
Commodity analysts at Société Générale noted that short-covered in the gold market was the eighth highest on record going back to June 2006.
"Mixed US economic data supported gold spot prices," the analysts said in a report Monday. Read More
Gold spikes above $1,800 on weaker dollar, sentiment favoring the Fed to back-peddle tapering timeline
A combination of factors resulted in gold spiking strongly higher today, breaking above the key psychological level of $1800 per ounce. Dollar weakness was a strong component contributing roughly 1/3 of today’s strong gains.
A disappointing U.S. Manufacturing Purchasing Managers Index magnified the concern that the Delta variant of Covid-19 has slowed down the economic recovery in the United States. And that these concerns over the rising infection rate due to the variant could dramatically cause the Federal Reserve to step back on their timeline to begin to taper their monthly asset purchases of $120 billion of U.S. Treasuries and MBS (mortgage-backed securities). Read More
Inflation, water shortage, health care; How to play top investment themes? Briton Hill
One of the top investment themes during Biden’s presidency is rising inflation, said Briton Hill, president of Weber Global Management.
In addition, investors should also eye health care and droughts appearing around the world, Hill said. Read More
Gold and silver trade flat heading into the European open
After a decent session yesterday, in which gold rose 1.36% the yellow metal is flat this morning leading into the European open. Silver is trading 0.09% higher overnight at $23.60/oz but has a resistance level at $23.78/oz to contend with. In the rest of the commodities complex copper (0.10%) and spot WTI (0.77%) are both trading higher. Read More
Ep. 45 Live from the Vault:
Gold & the U.S. Inflation Time Bomb - Feat. Marc Faber AKA Dr. Doom
In this special edition of Live from the Vault, Andrew Maguire is joined by renowned economist and author of the Gloom, Boom & Doom report, Marc Faber AKA Dr. Doom.
Both the precious metals expert and economist offer their take on gold and silver within today’s economic landscape, and Marc Faber shares the percentage of precious metals that will make up his portfolio for the rest of his life.
With a track record of foreseeing economic disaster, Marc Faber takes us on a deep dive into the inflationary impact of endless US money printing. The life-long investor also offers an intriguing overview of the current state of the stock market and reveals the areas where he believes today’s greatest investment opportunities reside.
The opinions expressed in this video of Andrew Maguire and any guest, do not purport to reflect the official policy or position of Kinesis.
Disclaimer: These articles & videos are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or other advice.
