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Gold Breaking Out Amid Loss of Investor Confidence in the Fed
The news headlines this week, along with the rising gold price, is implying investors across the globe have finally accepted that inflation will continue to run hot. Despite the best efforts by central banks to convince them that surging prices of most everything is transitory, December Gold futures are headed for their biggest weekly gain in six months. The gold price has also moved sharply above both its 50-day and 200-day moving averages.
Inflation fears are returning to the fore, with China’s higher-than-expected consumer and producer prices being the latest in a series of red flags about risks to the world economic outlook. Read More
Bitcoin, stocks, gold; One of these will have 'major breakout' - Gareth Soloway updates targets
Bitcoin, stocks, and gold are all poised for major moves, but not all moves will be equal.
Gareth Soloway, chief market strategist at InTheMoneyStocks.com discusses with David Lin, anchor for Kitco News, which of these assets are most likely to breakout to the upside. Read More
Worried about inflation? Don't focus on the Fed
Fiscal policy is going to have a direct impact upon inflation, according to Ronald-Peter Stoeferle.
Stoeferle spoke to Kitco on Friday. He is managing partner at Incrementum AG.
"I think we should focus less on what the central banks are doing, and we should focus more on what fiscal policy is," said Stoeferle. On Monday President Biden signed a $1 trillion infrastructure bill. Read More
Gold shines the brightest when the chips are down
Everyone who has bought anything in the last year knows that inflation is real. However, this week we found out just how bad it is.
Wednesday, the U.S. Consumer Price Index saw an annual rise of 6.2%, the highest level in more than three decades. And while the idea that prices are rising isn’t new, according to some economists and market analysts, the fear is that the U.S. central bank is losing control of inflation.
The Federal Reserve appears to be losing control because there is not much they can do to stop the current price in prices. Inflation is being driven by a global supply crunch. A rate hike will not bring more microchips online or increase the amount of food in the grocery store. Rate hikes certainly won’t bring more oil production online to lower gas prices.
Before you dismiss the growing threat, we are starting to see the economic impact of rising inflation. Read More
Strong bullish sentiment in gold points to higher prices following critical breakout rally
Sentiment in the gold market has turned significantly bullish as the precious metal sees its best weekly gain in six months.
This week gold prices broke their current downtrend. They pushed to a five-month high as inflation fears flooded back into the market after the U.S. Consumer Price Index showed an annual rise of 6.2%, the highest reading in more than 30 years.
"A lot of investors have been waiting for this. Gold did exactly what it was supposed to do, which is protect investors from rising inflation," said Philip Streible, chief market strategist at Blue Line Futures. Read More
The Metals, Money, and Markets Weekly by Mickey Fulp - November 12, 2021
Join The Mercenary Geologist Mickey Fulp and Trevor Hall of Mining Stock Daily every Friday afternoon for a recap of metals, money, and markets. Each episode provides commentary on performances and a look ahead to next week's markets. Listen to the podcast
Gold & Gold Stocks to Test Overhead Resistance
Recent price action in Gold and gold stocks suggests the worst of the correction is over. Gold has broken above initial resistance ($1835/oz), and gold stocks have shown sustained follow-through after registering an extreme oversold condition.
However, Gold has only broken out of a 5-month base, and a confluence of massive resistance is looming at $1900. Technically, on the daily chart, it needs to rally past $1910 to escape the pattern of lower highs. Read More
This gold price level to spark even a bigger rally – analysts
After a solid breakout above $1,850 an ounce, gold could be ready for even bigger gains. But first, the precious metal must breach this level, according to analysts.
Inflation accelerating to three-decade highs in the U.S. has pushed investors towards gold, with the precious metal up nearly 3% on the week and December Comex gold futures last trading at $1,865.90.
"It is all about inflation. The market is starting to embrace the fact that inflation will be longer-lasting. It will take years to fix the supply chain issues due to pandemic, all the stimulus, and tons of pent-up demand," RJO Futures senior market strategist Frank Cholly told Kitco News. Read More
Gold is taking off as inflation is just getting started
The gold market saw its best week since early May as investors were jolted by hotter than inflation pressures after the U.S. Consumer Price Index reported an annual rise of 6.2% in October. This is the most significant jump in inflation in more than 30 years.
Holmes said that governments focused on new environmental initiatives and transitioning to green renewable energy, prices will only go higher.
"[Governments are] creating policies that cut out any oil from Venezuela. You can't propel a ship around the world because it has a higher sulfur content. So a low crude oil gets banned and wipes 25% of all the big ships. Now you've got to replace those, and that's going to cost you tons of dollars and time," he said. "Some of these policies don't think about the big global picture." Read More
Gold's inflation narrative is changing after $40 price rally
It has been another positive week for gold after months of no action. The momentum has taken prices $40 higher on the week as gold breached key resistance levels of $1,835 and $1,850 an ounce. Read More
Silver is the one metal 'that is going to play catch up' - Keith Neumeyer
The strong rally in precious metals was a bit of a surprise for First Majestic Silver (NYSE: AG) CEO Keith Neumeyer.
Neumeyer spoke to Kitco on Friday at the Deutsche Gold Messe show in Frankfurt, Germany.
Two pieces of news last week propelled gold higher: headline inflation rose to 6.2%, and the $1 trillion U.S. infrastructure bill was signed into law. Gold had a solid breakout trading above $1,850 an ounce during the week. Read More
Gold & Silver Market Analysis for Monday 15th November
Kinesis Money Macroeconomic Analysis
After an intense macroeconomic agenda over the past few weeks, the week ahead is expected to be slightly quieter, despite the initial release of jobless claim requests. There is a good chance that there will be a consolidation of recent movements, while any indications of price growth will continue to be strictly followed by the investors.
Indeed, stock trading has slowed down in the last few sessions – albeit moderately – after US prices rose by 6% last month, in line with inflation. This, generated a jump in US treasuries, with the 10-year Treasury yield rising to 1.55%.
On the Forex market, the greenback achieved further gains, climbing above 95, as the EUR/USD pair is still being traded below 1.15.
Kinesis Money Gold Analysis - 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 any other advice.
