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Gold/copper/oil/silver: A March silver-squeeze recommendation
What a great way to start November with Equities making new all-time highs, the U.S. creating more jobs than expected, and the dreaded Fed meeting behind us. It appears on the surface that the Fed was much more accommodative than anticipated, considering when Bernake tapered, Equities fell 5% that week. Gold futures are back at $1815 and need to clear two more three-star major resistance levels 1825-1829***, 1836*** before clearing the way for another potential run back to 1900+. Gold bulls will need to watch the 10-Year yield, which fell to the lowest level since September 27 at 1.451%. Any rally in the 10-Year yield can disrupt this recovery by steepening the yield curve, and the "Big Banks" will target Gold and Silver again. Read More
The Metals, Money, and Markets Weekly by Mickey Fulp - November 5, 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. You can listen to the weekly wrap exclusively at Kitco.com.
Are we on course for a full-blown recession by 2023?
The Federal Reserve announced it will be winding down its bond-buying program later this month. The process will involve a $15 billion monthly reduction from the current $120 billion a month the Fed is buying currently. "The bull market is going to crack eventually because the consecutive monthly tapering is going to hurt the markets the most," Alasdair Macleod, Head of Research at Goldmoney, emphasized. Read More
Sentiment in gold improves as wage inflation picks up
Rising inflation pressures and central banks that are in no hurry to raise interest rates are boosting sentiment in the gold market as prices look to end the week above $1,800 an ounce.
Although analysts see room for gold prices to move higher, a few still note that the market faces significant overhead resistance. For gold to regain its luster and attract new momentum, prices have to ultimately push above $1,835 an ounce, according to some analysts. Read More
A delayed reaction to the statements of the Federal Reserve, the European Central Bank, and the Bank of England takes gold above $1800
Beginning on Thursday, October 28, when the European Central Bank held a press conference following their meeting that took place a few days earlier, which was followed by statements by both the Federal Reserve and the Bank of England this week unveiled a unified consensus in regards to their current monetary policies. All three major central banks committed to not raising interest rates and maintaining their collective extremely accommodative monetary policy. Read More
Central banks 'are stuck between a rock and hard place'
Precious metals look good due to the central banks finding themselves stuck "between a rock and hard place," said Gwen Preston, who runs the Resource Maven.
On Friday Preston recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris. Listen to the podcast
Gold's not going down without a fight
It has been a frustrating couple of months for gold investors as the precious metal has been unable to attract any sustainable momentum. However, it looks like the tide is turning as rising inflation makes the precious metal an attractive, undervalued hedge.
Gold prices are looking to close Friday near an eight-week high above $1,800 an ounce. This is the first time since late September that the precious metal has ended the week above what has been a solid resistance point.
The rally in gold comes after the U.S. Labor Department said that 531,000 jobs were created in October, solidly beating expectations. However, according to some analysts, markets appear to be focusing on wage inflation. Read More
Gold price jumps nearly $25, is this the start of a breakout?
With the Federal Reserve's tapering and new employment data out of the way, the gold market is finally moving.
Gold jumped $25 on Friday as markets started to anticipate a more patient Federal Reserve going forward. December Comex gold futures were last at $1,818.60, up 1.40% on the day.
Despite kicking off tapering this month, Federal Reserve Chair Jerome Powell acknowledged uncertainty around inflation while stressing it is too soon to start raining rates. Read More
End of bull market? Labor market is heating up, brace for higher wages, inflation - Jim Awad
Nonfarm payrolls grew at 531,000 in October, more than the consensus estimate of 450,000. The unemployment rate has fallen to 4.6%, down from 4.8% the previous month.
Jim Awad, managing director of Clearstead Advisors said that a recovering labor market is a sign of higher wages to come, which in turn will cause higher inflation and higher interest rates. Read More
Gold breaks out, will it 'steal the show' in 2022?
It's been a very busy data week for the markets. The Federal Reserve announced tapering of its asset purchases and the U.S. economy added more than 500,000 jobs in October.
Gold is finally starting to react — surging $25 on Friday and rising well above the $1,800 an ounce level. Markets now seem to be pricing in a more patient Federal Reserve going forward. Read More
Ep.51 Live from the Vault:
India, US, and Major Bank Join Physical Silver Race
This week, Andrew Maguire reveals that India, the US, and a major bank are all stockpiling physical silver at levels not seen since March 2020, in the lead-up to silver’s memorable rally.
With the BIS up to their usual tricks around Options Expiry, the precious metals expert explains recent volatility and gives a short-term forecast for the fortnight ahead.
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Gold and silver move higher heading into the European open
Gold and silver are heading into the European open higher. Gold has now consolidated above the psychological $1800/oz level with a strong move on Sunday night. Elsewhere in the commodities complex, copper is 0.23% higher and spot WTI is 1% in the black. 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.
