x
Image Source: Unsplash
Capital Economics looks for silver prices to drop 5% to $21.50 before year-end
The global green energy transformation won't be enough to support silver prices through the rest of the year and in 2022, according to the latest research from Capital Economics.
In a report published Thursday, Kieran Tompkins, assistant economist at the U.K.-based research firm, said they are taking a dim view of silver as they expect demand to weaken through next year. In an updated forecast, Capital Economics expects silver prices to end the year at around $21.50. For 2022 the firm expects prices to fall to $21.
With its current forecast, Capital Economics is expecting silver prices to drop more than 5% before the end of the year. December silver prices last traded at $22.725 an ounce, up nearly 1% on the day. Read More
European Gold ETF lead outflows in September - WGC
For most of the year, gold's lackluster performance has been driven by outflows in North American-based gold-backed exchange-traded funds; however, the latest data from the World Gold Council (WGC) shows growing weakness in European-based assets.
In a report published Thursday, the WGC said that the global gold-backed ETFs saw outflows of 15.2 tonnes last month. Total holdings now stand at 3,592 tonnes, its lowest level since April.
The outflows in ETFs helped push gold prices down 4% last month. The market continues to struggle to find consistent bullish momentum as prices hold support above $1,750 an ounce. December gold futures last traded at $1,758.80 an ounce, down 0.17% on the day. Read More
Kinesis Launches Historic Holder’s Yield
.jpg)
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
Gold a bit weaker as traders await U.S. jobs report
Gold prices are slightly down in midday U.S. trading Thursday. A rally in the U.S. stock market and rising bond yields on this day were negatives for the metals markets. The yellow metal is also pausing ahead of key U.S. economic data out Friday morning. December gold futures were last down $2.30 at $1,759.40. December Comex silver was last up $0.128 at $22.66 an ounce. Read More
Miners drive Australian shares to one-week high
Australian shares were set on Friday for their first weekly gain in five as markets rose further to hit a one-week high, led by heavyweight miners on the back of strong commodity prices. Read More
U.S. Senate approves temporary lift of debt ceiling, averts default
The U.S. Senate approved legislation on Thursday to temporarily raise the federal government's $28.4 trillion debt limit and avoid the risk of a historic default this month but put off until early December a decision on a longer-lasting remedy.
The Senate voted 50-48 to pass the bill following weeks of partisan fighting. Earlier, 11 Republicans voted in favor of a procedural vote allowing the bill to proceed.
The Senate-passed bill now goes to the House of Representatives, which needs to approve it before President Joe Biden can sign it into law. The House will hold a vote on the bill on Tuesday, according to the office of the No. 2 House Democrat, Steny Hoyer. Read More
Gold price headed to $5,500 in the long term as central banks won't be able to exit unorthodox monetary policies - Jefferies
The Federal Reserve's potential plan to reduce its monthly bond purchase by the end of the year continues to weigh on the gold market as prices remain tethered to support around $1,750 an ounce. However, one investment firm continues to see gold prices pushing thousands of dollars higher in the long term.
In a report published Tuesday, investment bank Jefferies Group said that gold and Bitcoin remain essential hedges as the threat of stagflation – an environment of low growth and higher inflation – continues to grow.
Although the market continues to struggle in the near term, analysts at Jefferies said that their long-term forecast remains in place for gold prices to push to $5,500 an ounce. Read More
Ground control to Chairman Powell
Ground control to Chairman Powell - Commencing countdown, engines on - Commencing countdown, engines on - Check ignition and may God’s love be with you David Bowie
A soft countdown of the initiation of tapering the Federal Reserve’s $120 billion monthly expenditure has begun. The Federal Reserve began dramatically infusing liquidity and money into the capital markets beginning in 2020. The initial effect was to temper or slowed down the rate at which the recession was expanding and morphed into a technique used to aid in the economic recovery that was a direct result of the economic hardship caused by the recession. Read More
Gold and silver are mixed leading into the European open
Gold and silver are trading mixed this morning leading into the European open. The yellow metal is 0.16% higher at $1759/oz while silver is down -0.45% at $22.47/oz. Elsewhere in commodities markets, copper is 0.21% higher and spot WTI has moved another 0.74% into 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 other advice.
