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Gold on the defensive as recovery story is too compelling for investors – US Bank Wealth Management
The gold market isn't able to break free of $1,800 an ounce as it is stuck and waiting for a new catalyst, according to one investment strategist.
In a recent interview with Kitco News, Rob Haworth, senior investment strategist at U.S Bank Wealth Management, said that in the near term, he expects gold prices to remain on the defensive as investors on the ongoing economic recovery in the U.S.
"Gold is a market that is looking for its next driver. Until the trend is clear, nobody is going to allocate much capital into the precious metals," Haworth said. Read More
Post-Fed rally or selloff? Gold price watches this comment by Powell – analysts
Federal Reserve's tapering comment, or more precisely the lack thereof, is what matters most to gold price this week, according to analysts.
Markets are zeroing in on the Federal Reserve's interest rate announcement this Wednesday, which will be followed by the central bank Chair Jerome Powell's press conference.
The must-watch comment is the one on tapering. This is what will determine whether gold rallies or sells off after the Fed meeting. And with growing concerns that the U.S. economy will slow in the second half of the year, tapering might no longer be as urgent as it seemed just a few weeks ago. Read More
Minimum global corporate tax is a treaty and requires Congressional approval-Tim Philips
Pushing a global minimum tax rate is a high priority for the Biden Administration as it seeks to raise taxes in the U.S. to fund its social spending programs, said Tim Phillips, President of Americans for Prosperity.
Phillips spoke to Michelle Makori, editor-in-chief of Kitco News at the FreedomFest 2021 in Rapid City, South Dakota. Read More
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good price' - Adrian Day
The current level of national debt in the U.S. cannot sustain a rise in the Fed Funds rate, said Adrian Day, chairman and CEO of Adrian Day Asset Management.
Speaking to Michelle Makori, editor-in-chief of Kitco News on the sidelines of the Freedom Fest 2021 conference, Day said that while the Federal Reserve is “reluctant” to raise rates, it is still ultimately an inevitability, and when that happens, there will be a “crisis.” Read More
Dollar will ‘not lose reserve currency status in my lifetime’ but Bitcoin, cryptos, are a ‘real threat’ - Steve Moore
Mounting national debt and continuous quantitative easing from the U.S. Federal Reserve are fueling concerns that the government is devaluing and debasing the U.S. dollar. Many investors, including billionaire Stanley Druckenmiller, have recently expressed fears that the dollar may lose its de facto global reserve currency status.
Steve Moore, senior economist at FreedomWorks, dismissed this concern. Read More
Gold and silver are mixed leading into the European open
Gold and silver are mixed this morning leading into the European session. The yellow metal finished the session down -0.22% yesterday and is trading below the $1800/oz level this morning.
Silver is just at flat but on Monday's session managed to keep its head above water rising 0.10%. In the rest of the commodities complex, copper has slipped -0.11% after performing well the day before and spot WTI has dropped -0.36%. Read More
Silver price analysis shows the price is in a congested zone
Silver has been living in no man's land for a while now. The price is a massive consolidation on the higher timeframes with a floor of $21.81/oz and a ceiling of $30.35/oz. In fairness, there is a lot of price movement to be had between those levels but we cannot call this a trend. Read More
Gold price at daily highs as U.S. durable goods disappoint in June
Gold was trading at daily highs after the newly released data showed that orders for long-lasting U.S. factory goods were up 0.8% in June versus the expected advance of 2.1%. Read More
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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.
