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Gold & Silver Market Analysis for Wednesday 25th of August
Kinesis Macroeconomic Analysis
Is negative news capable of pulling up the financial market? Although it seems like a paradox, it is exactly what we have often seen in the last few months. Fear of Covid-19 and then subsequent waves of fear of its variants forced the Federal Reserve to be extremely dovish.
In the last few days, we heard the rumors about the Federal Reserve's concerns that the spread of Delta Variant could decrease the speed of the economic recovery. These rumors sparked new doubts in regard to an early start of the U.S. Central Bank tapering. Read More
Signs that silver is bottoming out
Silver is quite clearly in a downtrend on the 4-hour chart below. Having said that there are signs that a base formation is starting to develop. The green shaded area at the current consolidation high is now very important for the precious metal.
$24/oz is the area that the price would need to break to get into the next distribution. If there is to be a break there $24.68/oz is also a resistance level the price would have to break to reach the next mean value area. Read More
The gold grind and silver meltdown
The grind in Gold continues, and the inability to break to the upside persists. Gold continues to struggle to break above resistance, with the bulls trying to wish it so. One thing everyone must learn about markets, you can’t hope and wish them higher. Price action is always the determining factor.
Siler continues to be weak, even with the rally the last couple of days. With Silver at 23.71 based on December futures, there is a better chance to see 22 than 25. Remember that can change if the price action suggests a reversal. Until then, selling every rally in Silver is the play. Read More
Gold price has bottomed; Jim Wyckoff on Jackson Hole expectations, next target level
Gold has already seen the bottom this year, and the rebound starting from a few weeks ago will continue its bull run in the intermediate term, said Jim Wyckoff, senior analyst at Kitco News.
"I think we're going to trend sideways to higher probably until the end of the year," Wyckoff told David Lin, anchor for Kitco News. Read More
Gold price under pressure as U.S. durable goods decline but beat expectations in July
Gold was trading below $1,800 an ounce after the newly released data showed that orders for long-lasting U.S. factory goods were down just 0.1% in July versus the expected drop of 0.3%.
Following the release, gold prices continued to trade under pressure, with December Comex gold futures last at $1,795.10, down 0.75% on the day.
The monthly decrease in durable goods orders was $0.4 billion and was largely driven by a decline in transportation-related items. The drop in July comes after two consecutive monthly increases, including the 0.8% advance reported in June. Read More
Kinesis Launches Segregated Facility for Coins and Bars
We are proud to announce the launch of a new segregated storage facility for gold and silver coins and bars, now accessible through the Kinesis Mint. This means that users can now bring their eligible* coins and bars into secure, segregated storage within the Kinesis vaults, through the Exchange Physical for Digital (EPD) process.
The expansion of the existing EPD program to incorporate gold and silver coins and bars, allows collectors worldwide to convert the fine weight of their holdings into Kinesis gold (KAU) and silver (KAG), and access all the benefits of the Kinesis Monetary System.
In a first for the precious metals industry, coin and bar holders are now able to bring real-world value to their collections. With users able to spend their KAU or KAG balance earned from the EPD (coins and bars), providing they maintain a ⅔ balance, at the end of each calendar month. Read More
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Gold price is in 'hibernation,' but it is going 'a lot higher' - Bond King Jeffrey Gundlach
Billionaire "Bond King" Jeffrey Gundlach sees the U.S. dollar on the decline and gold going a lot higher after the precious metal leaves its hibernation mode.
"My number one conviction looking forward a number of years — I'm not talking about the next few months at all, I'm talking about several years — is that the dollar is going to go down," DoubleLine CEO Jeffrey Gundlach told Yahoo Finance. "The dollar going down is another reason why we touched on gold. I think ultimately gold is going to go a lot higher, but it's really in hibernation right now." Read More
Gold, silver back off on profit-taking from recent gains
Gold and silver prices are lower in midday trading Wednesday, but up from session lows, on some routine profit-taking and downside corrections after recent gains. Better risk appetite recently is also a bearish element for the safe-haven metals. October gold futures were last down $16.30 at $1,790.00. September Comex silver was last down $0.104 at $23.79 an ounce. Read More
Commodity hedge against inflation helps boost profits for Canada's largest pension fund
A bet on commodities as an inflation and risk hedge appears to be paying off for Canada's largest pension fund.
Wednesday, Ontario Teachers' Pension Plan Board said that its commodity investments had played an important role in the first half of the year. The pension plan said that in the first six months of 2012, its investment fund saw a return of 3.8%. At the same time, the fund saw a return of more than 13% from 2020. Read More
Gold price drops below $1,800 again; What can break the ceiling? Phil Streible
Gold has fallen below $1,800 an ounce, extending a multi-month decline from June highs. This comes as the price rebounded from August lows of $1,720 an ounce to breach $1,800 earlier this week.
Phil Streible, chief market strategist of Blue Line Futures, told David Lin, anchor, for Kitco News, that economic conditions have not been favorable for a gold price rally; what the metal needs is low growth and high levels of inflation, or stagflation. Read More
Gold gives up recent gains as the Nasdaq and S&P 500 trade to new record highs
Gold prices fell sharply today after yesterday’s attempt to trade and close above both the long-term 200-day and interim term 100-day moving averages. This might have prompted short-term traders to pull profits after Monday’s price surge, which took gold prices back above $1800 per ounce. Read More
Gold price is betting on Powell's patience at Jackson Hole, will he deliver?
All eyes are on the Federal Reserve Chair Jerome Powell's Jackson Hole speech Friday morning, with gold bulls betting on more patience from the central bank when it comes to the highly anticipated tapering announcement.
Investors are still on the fence whether or not Powell might reveal a tapering plan at the Jack Hole Symposium, which is being held virtually this year. However, the release of the more cautious July FOMC meeting minutes has shifted the tapering timeline to the end of the year. Read More
Gold and silver move lower ahead of the European open
Both gold and silver have moved down in the Aisa Pac session. Gold is trading -0.24% in the red while silver has fallen just over half a percent. Looking at the rest of the commodities complex, copper has dropped -0.68% but spot WTI bucked the trend to trade 0.09% higher. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or other advice.
