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Gold price has a chance to break out next week, here's why – analysts
Gold could see a significant rally above the $1,800 an ounce level next week after the release of the Federal Reserve's June monetary policy meeting minutes, analysts told Kitco News.
One of the biggest events to watch next week will be the Federal Reserve's monetary policy meeting minutes. The meeting, which took place in mid-June, triggered a significant selloff in gold.
"Markets are expecting a hawkish tilt, and anything that tells us there is no hawkish tilt is a little bit less than people were pricing in. You can get a big rally in gold," TD Securities head of global strategy Bart Melek told Kitco News. Read More
Digital Dollar is "inevitable", Fedcoin will give government total control
Digital, state-issued currency is the "inevitable" next step of our economic evolution, says Cameron Chell, executive chairman of CurrencyWorks, who concedes it can be a "scary proposition."
Central bank digital currencies, or CBDCs, are currently under development from several major central banks around the world, including the People's Bank of China, the European Central Bank, and the Bank of England.
Recently, the U.S. Federal Reserve announced that it will take measures to ensure that the U.S. will retain a leadership position in the development of CBDCs, although an American digital dollar, or Fedcoin, would still need congressional approval. Read More
Video - Digital Dollar is “inevitable”, Fedcoin will give government total control
After dropping more than 7% in June, gold is trying to rebound. Can the precious metal see $1,800 an ounce breached next week as higher inflation continues to worry industry experts? Here's a look at Kitco's top three stories of the week: Read More
Gold kicks off the week flat leading into the European session
After closing 0.39% higher last week gold kicks of the week flat. Overnight the yellow metal gapped lower to trade at $1767.20 but has since recovered to start the European session at $1786.31/oz. Silver is 0.20% higher at $26.50/oz and had no such problems at the open. In the rest of the commodities complex, copper has moved 1.59% higher and spot WTI hangs high at the lofty level of $75.22/bbl. Read More
Central banks are dipping into the gold market again
Central banks from Serbia to Thailand have been adding to gold holdings and Ghana recently announced plans for purchases. This comes as the threat of accelerating inflation looms and a recovery in global trade provides the firepower to make purchases for diversification.
The Bank of Ghana to implement a Gold Purchase Programme designed to purchase locally-produced gold. Vice President Bawumia said the benefits of having a healthy amount of physical gold in a country's reserves are varied and enormous, including shoring up the value of the local currency. The BoG decision, he indicated, is a "game-changer". Read More
Kinesis - The Revolutionary Gold and Silver Monetary System on the Blockchain.
Kinesis is a revolutionary monetary system, based 1:1 on allocated gold and silver that provides users with a stable store of value. One that rewards you every month, allowing you to send, spend and trade in digital gold and silver. 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.
