Today's Gold and Silver News - September 2nd

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Gold price is finding its feet and ready to run higher - Aberdeen Standard Investments

The gold market continues to see lackluster demand even as the price holds support above $1,800 an ounce. However, one market strategist said that sentiment could start to shift to the bullish side once again before the end of the month.

In an interview with Kitco News, Robert Minter, director of investment strategy at Aberdeen Standard Investments, said that it will soon be clear that the ongoing COVID-19 pandemic and the growing threat of the Delta Variant will continue to weigh on the U.S. labor market, which is a critical element to the Federal Reserve's plan to reduce its monthly bond purchases. Read More

Gold weaker, silver firmer in choppy late-summer trading

Gold prices are slightly lower and silver solidly higher in midday U.S. trading Wednesday. Metals traders are seeking the next significant fundamental input, which will likely be Friday morning's U.S. jobs report. October gold futures were last down $1.40 at $1,814.40. December Comex silver was last up $0.249 at $24.255 an ounce. Read More

Silver unlikely to track gold again, may "never go back as money", here's why - Lobo Tiggre

Even if the world enters into another gold standard, silver, which has historically been used as money, may not retain that role in the future.

“Even if global finance adopts a new gold standard in the future, silver may never go back into circulation as money,” Tiggre wrote in a recent research report.

Speaking to David Lin, anchor for Kitco News, Tiggre said that blockchain technology is now able to fulfill much of the role that silver has historically played, which is to represent fractions of the value of an ounce of gold. Read More

'Critical safety and operational problems' - Centerra Gold faults Kumtor's new managers

Centerra Gold (TSE:CG) said there is evidence that the Kumtor open pit gold mine is filled with too much water, which could prove hazardous.

In the spring Centerra, Gold's Kumtor Mine was taken over by the Kyrgyz government authorities, which now administers it.

Centerra found recent photos of the mine which show water pooling at the bottom of the open pit. Read More

Gold remains above key and critical short-term support but it is the release of Friday’s jobs report that will shape the future direction of gold

Gold pricing has remained fairly stable and continues to trade above $1800 per ounce. The clear break in gold occurred on Friday after Federal Reserve Chairman Jerome Powell spoke at the virtual Economic Symposium.

Last Friday’s dynamic surge in gold took the precious yellow metal from its opening price of $1795 top close at approximately $1820. This single-day move took gold pricing above its 100 and 200-day moving averages. During the same period, gold’s 100-day moving average crossed above the longer-term 200-day moving average. Read More

Gold and silver move marginally higher ahead of the European open

Both gold and silver have moved marginally higher ahead of the European open this morning. The yellow metal is 0.08% higher while silver is 0.20% in the black. Looking at the rest of the commodities complex, copper and spot WTI has risen 0.23%. Read More

Kinesis roadmap

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.

The Kinesis roadmap displays important milestones and significant stages of development in chronological order.

Q1

 US Physical Kinesis VISA card and banking programs launch

 Merchant services for debit card deposits

 Kinesis Exchange upgrade

 Crypto deposit and withdrawal enhancements

 KYC identity verification upgrade

 KEM launch – the Kinesis Emerald token launched in partnership with Seabury Asset Management. 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.