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Credit crisis, rising inflation creates bullish sentiment in gold as prices hold $1,750
Gold's bounce off a two-month low this week is creating some optimism in the marketplace as both Main Street investors and Wall Street analysts expect to see higher prices next week.
Although there is growing bullish sentiment in the marketplace in the near term, some analysts note that the market still faces fundamental headwinds of rising interest rates, an uptrend in the U.S. dollar, and general apathy among generalist investors.
Christopher Vecchio, senior market strategist at DailyFX.com, said that the ongoing credit issues with Evergrande, and the debt ceiling issues in the U.S. could continue to support prices in the near term. Friday Fitch Ratings said that the U.S.'s AAA sovereign credit rating could be pressured if federal lawmakers didn't address the debt ceiling issue in a timely manner. Read More
The Metals, Money, and Markets Weekly by Mickey Fulp - October 1, 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. We trust you will find our podcast of value and hope it becomes a part of your weekly due diligence and research. May all your trades be to the upside. Listen to the podcast
Kinesis Launches Historic Holder’s Yield
Kinesis Money is proud to announce the Holder’s yield launch, which represents a monumental milestone for the Kinesis Monetary System and the precious metals industry as a whole.
With the highly-anticipated Holder’s yield launch, Kinesis is paying out a debt-free, passive yield on physical precious metals for the first time in the industry.
The launch of the Holder’s yield will see 46.2 kilograms of gold and 6,047 ounces of silver, distributed to Kinesis users, simply for holding their metals with Kinesis, free of charge. The first payment with a value of 2.84 million dollars, at the time of writing, is scheduled to be paid out into users’ accounts on 6th October 2021.
Following the successful roll-out of the Minter’s yield, the Holder’s yield is the second of five yields within the Kinesis Monetary System. The Holder’s yield represents another pivotal moment in Kinesis history, as we continue to forge the path towards a global, fair, and ethical monetary future. Read More
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Expect $30 silver price, then $50 soon after, by 2022 - Steve Penny
Once silver breaches $30, there would be minimal resistance keeping it back from hitting $50, said Steve Penny, publisher of The Silver Chartist report.
Penney told David Lin, anchor for Kitco News, that $50 or even $30 an ounce for silver is unlikely to happen by the end of the year. 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. Read More
Stagflation risk is back and gold price is ready to react - analysts
The stagflation risk is back on the table as the looming energy crisis stirs up old inflation fears. This is good news for gold, which proved this week that there is strong buying interest below the $1,750 an ounce level, according to analysts.
After falling towards $1,720 an ounce mid-week, gold surprised with a quick double-digit recovery to $1,760 on Friday.
The original downward pressure on gold came as markets prepared for the Federal Reserve's tapering in November. This pushed U.S. Treasury yields and the U.S. dollar higher while putting strong downward pressure on gold. Read More
Have you given up on gold? Surprising comeback after a volatile week
It has been a very volatile week for gold. After dropping $30, the precious metal surged back to its very familiar territory of $1,750-$1,760 an ounce.
Soaring U.S. Treasury yields and a higher U.S. dollar were the main obstacles for gold. And despite avoiding a government shutdown in the U.S. this week, there is still the threat of default as the heated debt ceiling debate continues. Here's a look at Kitco's top 3 stories of the week: Read More
Gold and silver trading are mixed ahead of the European open
Gold and silver are trading mixed heading into the European cash open. Gold is -0.13% lower while silver has pushed 0.39% into the black. Looking at the rest of the commodities complex, copper is down -0.33% while spot WTI is -0.34% in the red ahead of OPEC discussions. 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.
