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Gold prices needs to clear $1,834 - Credit Suisse
Strategists at Credit Suisse have noted that gold remains entrenched in its range, but could be capped at its July/August highs at $1832/34.
However, the Swiss investment bank also notes, a break below $1775 would lead to further falls.
On the topside, any break above $1834 would clear the way for a deeper recovery, the analysts said. Read More
Gold, silver down on technical selling, upbeat U.S. report
Gold and silver prices are lower in midday U.S. trading Wednesday. Some technical selling pressure from the shorter-term futures traders is featured today, as the chart postures for both gold and silver have deteriorated just recently. The metals bulls need a fresh fundamental spark to ignite their enthusiasm. October gold futures were last down $12.80 at $1,792.20. December Comex silver was last down $0.12 at $23.765 an ounce. Read More
Gold fails to hold the key psychological level of $1,800
After yesterday's moderate upside move taking gold above $1,800, technical selling pressure resulted in gold breaking back below $1,800. Yesterday the Bureau of Labor Statistics released its inflationary report for August, indicating that the CPI (Consumer Price Index) increased by 0.3% last month. August’s rise in inflationary pressures came in under estimates by economists polled by the Wall Street Journal, who were expecting an increase of 0.4%. The Bureau of Labor Statistics report indicated that inflationary pressures are still prevalent and remain at an elevated level taking the CPI index to 5.3% over the last 12 months. Read More
Fed will never taper because consequences will be ‘catastrophic’ – E.B. Tucker
When will the Fed taper? Never, says E.B. Tucker, director of Metalla Royalty and author of "Why Gold, Why Now?"
"Now the debate is why will they stop [quantitative easing]? They'll never stop. It's never going to stop," Tucker told David Lin, anchor for Kitco News. Read More
Gold & Silver Market Analysis for Wednesday 15th of September
Kinesis Money – Macroeconomic Analysis
The U.S. inflation data missed the expectations. Indeed, the core Consumer Price increased by merely 0.1% over the past month, while forecasts were prognosticating a more significant rise of +0.3%.
It is clear that these last figures are reducing the pressure on the Federal Reserve for hastened tapering (the process for reducing liquidity).
The Federal Reserve’s Open Market Committee will meet on September 21-22. However, the chances for the announcement of the beginning of the process during this month’s meeting decreased significantly. Most investors are now expecting the tapering to be announced during the following summit, at the beginning of November.
In other words, the Federal Reserve is expected to be more cautious in scaling back pandemic-era bond purchases, in order to continuously sustain the recovery of the economy. Read More
Gold and silver move lower ahead of the European open
Gold and silver are both trading lower ahead of the European open. Gold has once again dipped through $1800/oz to trade at $1785/oz. In the rest of the commodities complex, copper is also struggling and down -1.59% but spot WTI is flat after a few decent sessions. Read More
The Perth Mint sets a new sales record
The Perth Mint has reported a record 2020-21 financial year with an underlying pre-tax profit of $56 million on turnover of $26.35 billion. This is a record for The Perth Mint’s 122-year history and cements the East Perth institution as one of Western Australia’s largest exporters of gold and silver.
Australian Mines and Petroleum Minister Bill Johnston stated “This is an outstanding result delivered by The Perth Mint and a credit to the more than 500 staff who have cemented the organization’s status as a global leader in precious metals. Read More
Gold and Siver digitized on the blockchain.
Kinesis is a revolutionary monetary system operating on the blockchain, based 1:1 on allocated gold and silver, providing users with a stable store of value. One that rewards you every month, allowing you to send, spend and trade in digital gold and silver. 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.
