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Gold wakes from its summer slumber
The gold market is finally starting to shake off its summer doldrums as prices retest critical resistance at $1,830 an ounce.
Aside from the recent flash crash, many analysts have noted that the gold market has been eerily quiet the last few months as investors focus on the red-hot equity markets and prepare for the Federal Reserve to start shifting its monetary policy. Read More
Gold has a path to $1,900 if it can break above $1,830 next week, analysts.
The gold market is holding near session highs but is seeing little reaction as momentum in the service sector falls relatively in line with expectations.
Friday, the Institute for Supply Management (ISM) said its non-manufacturing index showed a reading of 61.7% for August, down from July's reading of 64.1%. According to consensus estimates, economists were forecasting a reading around 61.9%. Read More
Jobs Report is something the Feds will have to factor into their monetary policy
The August job report was released today by the U.S. Labor Department is a game-changer. It clearly shows that the economic recovery, which had been strong, has taken at least one or two steps backward. This is directly due to the onset of the delta variant, which is much more transmissive has now encompassed the globe affecting millions upon millions of lives. Read More
Dollar near one-month low on bets for later Fed taper
The dollar languished near a one-month low versus major peers on Monday, as investors pushed back expectations for when the Federal Reserve will begin tapering its massive stimulus.
The dollar index, which measures the currency against six rivals, edged 0.05% higher to 92.155, after dipping to 91.941 for the first time since Aug. 4 on Friday, when a closely watched U.S. labour report came out much weaker than expected. Read More
'I've never seen anything like this before' - Zimnisky on U.S. diamond demand
With travel curtailed due to the pandemic, consumers are shifting spending to material luxury items, which favors diamonds, said Paul Zimnisky, industry analyst.
On Friday Zimnisky recorded the Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris, and editor Neils Christensen.
"If you look at Signet Jewelers--the largest jewelry company in the U.S.--they've raised sales guidance three times this year. I've never seen anything like this before," said Zimnisky. Listen to the podcast
Gold & Silver Market Analysis for Monday 6th of September
The tapering will start relatively soon, with the U.S. Central banks the most likely to begin reducing the liquidity on the system in the final months of 2021. Despite this, investors’ interest in gold remains at its peak.
On Friday, after the release of the U.S. nonfarm payrolls, the bullion price broke up the key resistance level of $1,820, getting closer to the 10-4-week-high of $1,835. Indeed, U.S. labour data was below expectations, with the immediate decline of the Dollar as a result. Read More
Gold and silver move marginally higher heading into the European open
Gold and silver start the week marginally higher. The yellow metal is trading at $1827/oz while silver has moved to $24.77/oz. In the rest of the commodities complex, copper is down -0.31% and spot WTI has dropped -1.07%. Read More
Kinesis - 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.
