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What next for silver?
As reported earlier this week silver broke a very important level on the weekly chart (click here). Now looking to the left on the higher timeframes could be an important exercise. There is a key feature on the monthly chart below. The March 2008 high at $21.31/oz is about to be tested and it was also important in July 2016. Now, it seems like these levels are from a long time ago but they were used to good effect. Read More
Silver gets clobbered Gold under pressure
Wednesday silver got hammered and gold was under pressure. None of this was a surprise; we expected this type of action. Silver continues to make lows and gold remains under pressure. Platinum has turned over as well and looks to reverse and test its recent lows.
Just looking at markets, in general, higher interest rates are pressuring the metals and should continue to do so. The bond vigilantes are back and pushing rates higher. It appears they picked the perfect time to go after the FED and their ignorant policies. Read More
Gold prices hold gains as U.S. weekly jobless claims rise for third straight week
The U.S. labor market is losing more momentum as more American workers than expected apply for first-time unemployment benefits for the third consecutive week.
The gold, while off its lows, is seeing little reaction to the disappointing labor market data. Read More
Kinesis introduces ‘Send-to-Email’ payment functionality
We are pleased to introduce the ‘send-to-email’ payment feature, which enables Kinesis users to send digital assets to current and prospective users, with only the email address of the recipient required.
The exciting new functionality allows system participants to transfer digital assets, including Kinesis gold (KAU) and Kinesis silver (KAG), as well as Kinesis Velocity Token (KVT), to friends, family, or business associates outside of the Kinesis Monetary System. Accessible on Kinesis desktop and mobile applications, the ‘send-to-email’ feature provides a streamlined payment option for all Kinesis users. Read More
Gold price jumps $40 as Fed's Powell says the U.S. still 'far from full employment'
The gold market rebounded from six-week lows as Federal Reserve Chair testified that the U.S. is still "far from full employment."
All eyes were on Fed Chair Jerome Powell and U.S. Treasury Secretary Janet Yellen. The duo testified before the House Committee on Financial Services on their agencies' response to the COVID-19 pandemic.
Gold saw quick double-digit gains Thursday morning as bargain hunters stepped in to buy the dip in prices, and the U.S. dollar index fell to daily lows after surging in the previous session. December Comex gold futures were last trading at $1,762.80, up 2.32% or $40 on the day. Read More
Sharp price gains for gold on short-covering, bargain-hunting
Gold and silver prices are solidly up in midday U.S. trading Thursday, on good corrective rebounds after gold hit a six-week low and silver a 14-month low on Tuesday. Short-covering by the shorter-term futures traders was seen today, as well as some bargain hunting after the recent dip. A sell-off in the U.S. stock market today also prompted a bit of safe-haven demand for the metals. December gold futures were last up $36.20 at $1,759.20. December Comex silver was last up $0.51 at $21.995 an ounce. Read More
Silver bounces back after Wednesday’s drop, but market remains challenging
Growing uncertainty surrounding silver's industrial demand is creating some volatility in the marketplace as precious metal sees its fourth month of consecutive losses; however, some analysts see the sharp slide as a buying opportunity.
Wednesday silver prices fell to their lowest level since July 2020, dropping below $22 an ounce. The price has managed to bounce off its recent lows. December silver last traded at $22.175 an ounce, up more than 3% on the day.
According to some analysts, along with rising bond yields and a stronger U.S. dollar, the silver market faces an additional hurdle as political infighting threatens the U.S. government's proposed $3.5 trillion spending package. The political posturing also came as the nation inched closer to running out to money and potentially igniting a global debt crisis. Read More
Gold is a green hedge; it can improve a portfolio's carbon profile - World Gold Council
Gold can play many different roles in an investment portfolio; it is an important diversification tool and hedge against inflation. According to the latest research from the World Gold Council (WGC), gold can improve a portfolio's carbon footprint, too.
In an interview with Kitco News, John Mulligan, climate change lead and market relations at the WGC, said that the latest report on gold's environmental footprint is the culmination of four years of research that has quantified the gold market's carbon footprint and its role it can play in a portfolio where investors recognize the growing importance of Environment and Social Governance (ESG). Read More
Robert Kiyosaki: 'The biggest crash in world history' hits this October
The whole market, including Bitcoin, gold, stocks, is about to face a serious crash in October, said Robert Kiyosaki, best-selling author of “Rich Dad Poor Dad”.
Speaking to Michelle Makori, editor-in-chief of Kitco News, Kiyosaki explained the factors in the economy that have been leading up to this upcoming crash, and highlighted the severity of the market downturn that’s to come.
“It’s going to be the biggest crash in world history. We have never had this much debt pumped up. Debt is the biggest problem of all…the debt to GDP ratio is out of sync. So when it comes down, and it’s going to bring everything down with it, that’s when I’m going to be buying more gold, silver, and Bitcoin,” Kiyosaki said. “The S&P 500 is really the S&P 7 and it’s being held up by Secretary of the Treasury Yellen and [Fed Chair] Powell. There’s no correlation between the economy and what Yellen and Powell are doing.” Read More
National debt crisis possibility, the Fed and dollar weakness result in gains for gold
A multitude of factors resulted in a strong upside move in gold, gaining a little over 2% on the day. Today, Janet Yellen, the Treasury Secretary of the United States, testified before the House Financial Services Committee. During her testimony, she made a dire prediction if the United States cannot meet its debt obligations. This will occur if U.S politicians are unable to pass legislation to raise the debt ceiling. According to the Treasury Secretary, the government would not be able to meet its financial obligations if, by October 18, no legislation is passed to raise the debt limit, which is currently restricted at $28.4 trillion. Read More
Gold and silver are marginally lower heading into the European open
Gold and silver are trading marginally lower heading into the U.S. session. The move lower overnight comes after a decent recovery for the yellow metal on Thursday. Silver also briefly dropped below $22/oz before recovering. Elsewhere in the commodities complex, copper (-0.78%) looks like it could break the consolidation low on the daily chart, and spot WTI is down -0.26% but remains in a good trend. 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.
