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Silver, gold, palladium, or Bitcoin? This is Randy Smallwood's top pick
While industrial metals will continue to be in higher demand as the world shifts into a green energy paradigm, one metal stands above the others for Wheaton Precious Metals' CEO, Randy Smallwood.
"It is truly the metal of the future," Smallwood told Michelle Makori at the Denver Gold Forum, referring to silver.
Smallwood praised silver's industrial applications and noted the importance of using silver for storing and transporting energy. Read More
Gold prices near session lows, can't catch a bid following mixed flash PMI data
The gold market is trading just off session lows, unable to find any bullish traction following mixed preliminary sentiment in the U.S. manufacturing and service sectors.
Thursday, IHS Markit said its flash U.S. manufacturing Purchasing Managers Index for September fell to reading of 60.5, down from the August reading of 61.1. However, the drop in in line with economist expectations.
Meanwhile, the report noted weak momentum growth in the service sector as its PMI fell to a reading of 54.4, down from August’s reading of 55.1. Economists were expecting to see an unchanged reading. Read More
Gold sees sharp losses amid better risk appetite late this week
Gold and silver prices are solidly lower in midday U.S. trading Thursday. There is a keener risk appetite in the marketplace—as seen by a big rebound in the U.S. stock market after Monday’s steep losses--and that’s bearish for the safe-haven metals. October gold futures were last down $27.80 at $1,748.90. December Comex silver was last down $0.207 at $22.70 an ounce. Read More
'Possible storm' ahead - China warns local officials of potential Evergrande collapse
China warned local officials to prepare for a potential storm if the property giant Evergrande collapses, according to a report by The Wall Street Journal.
This move signals that China might not be willing to bail out the world's most indebted real estate developer, Evergrande, the WSJ report cited people familiar with the matter as saying.
The officials noted they are being asked to get "ready for the possible storm," including all the potential economic and social consequences that could come along if Evergrande fails to meet its financial obligations. Read More
No support for gold; base metals and oil look better - USBWM's Haworth
The gold market faces a challenging environment as rising real interest rates and a stronger U.S. dollar will act as significant headwinds for the rest of the year, according to one market strategist.
In an interview with Kitco News, Rob Haworth, a senior investment strategist at U.S Bank Wealth Management, said that while gold remains an important component in a portfolio, he is paying more attention to stronger cyclical commodities like base metal and oil. He added that the supply constraints and growing demand look attractive in the current economic environment.
Haworth added that he expects gold prices to struggle as the Federal Reserve looks to shift its monetary policy and potentially taper its monthly bond purchase before the end of the year. Read More
Investors need to stop focusing on monetary policy, diversify risky portfolios with gold - State Street Global Advisors
Although gold prices are testing an important support level, the market appears to be taking a hawkish shift from the Federal Reserve in stride, indicating that further downside in the price could be limited, according to one market strategist.
In a telephone interview with Kitco News, George Milling Stanley, chief gold strategist at State Street Global Advisors, said he sees the recent price action following the Federal Reserve Monetary policy statement as positive. Read More
$3,000 gold is this cycle's peak, and it's coming, here's why - David Garofalo
Gold peaked in 1981 when it reached $850 an ounce in nominal terms, but adjusted for inflation, that would equal $3,000 in real terms today.
$3,000 is this cycle’s coming peak, David Garofalo, CEO of Gold Royalty Corp. told David Lin, anchor for Kitco News. Read More
Bullish risk-on market sentiment a more hawkish Fed take gold lower prices
It was like a one-two punch taking gold pricing dramatically lower. The first punch occurred yesterday as the Federal Reserve concluded its September FOMC meeting in which revealed a more hawkish demeanor. They penciled in the potential for one rate hike in 2022, which was absent from the last interest rate projection or dot plot.
As expected, they did not announce a date on which tapering would begin nor the rate at which they would taper their monthly asset purchases. However, many analysts correctly predicted that there would not be a concrete announcement of a taper timeline and start date until November, with the earliest starting date December of this year or the first quarter of next year. Read More
Gold and silver move higher ahead of the European open
Gold and silver have both moved higher this morning leading into the European open. Gold is trading at $1755/oz recovering 0.71% of Thursday's 1.43% decline and silver is trading at $22.70/oz. Elsewhere in the commodities complex, copper has moved half a percent higher and spot WTI is 0.30% in the black. Read More
JPM pay a $15.7 million fine in spoofing scandal
U.S. investment banking giant JPMorgan has agreed to pay $15.7 million to settle a spoofing lawsuit, according to Reuters. The settlement announced late Wednesday night stemmed from sprawling U.S. government investigations into illegal trading in futures and precious metals markets, known as spoofing.
Spoofing is a form of market manipulation in which a trader places one or more highly visible orders but has no intention of keeping them. 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
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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.
