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Marking 50 Years: the Fall of the Bretton Woods Agreement
50 Years Without a Gold Standard: fiat currency post-Bretton Woods Agreement, as discussed in Rickards’ book: “The New Case for Gold”
Yesterday, Sunday, August 15th, marked a significant time stamp in the history books, as 50 years since the fall of the Bretton Woods Agreement and gold-backed US currency.
The Agreement of 1944 was the beginning of a foreign exchange system that promoted economic growth on an international scale, forged as a safe-guard against the devaluation of the dollar (USD). Perhaps more importantly, the resulting social cohesion among independent states after WWII was vital for stabilising market volatility on a wider scale.
However, this came with the caveat that all participating countries would peg the respective value of their currencies to the dollar. Read More
Gold & Silver Market Analysis for Monday 6th of September
Kinesis Gold Analysis
The tapering will start relatively soon, with the U.S. Central banks 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-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
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. 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. Listen to the podcast
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
India's gold imports rocket higher
India's gold imports have jumped compared to the previous year and they are at the highest rate in 5 months. This is due to a buying season and the nation emerging from the COVID-19 pandemic according to a Reuters report.
India imported 121 tonnes of gold in August, compared to 63 tonnes a year earlier, (anonymous government source). This translates to August imports of $6.7 billion from $3.7 billion a year ago This could be to fill inventories ahead of the festive season. There has also been a discount for the physical buyers as local gold futures fell to 45,662 rupees per 10 grams on 10th August, the lowest in four months. Read More
Gold price analysis on the weekly chart
On the weekly chart, it seems easy to see why gold is stuck in a strong consolidation zone. It is best to pick up this timeframe at month-end and as August just closed the downside rejections seem evident. Another key consideration has to be the lack of volume over the last 5-6 weeks there seemed to be no real conviction in any of the downside moves. Read More
Gold and silver head into the European open marginally lower
Gold and silver have both moved marginally lower heading into the European cash open. Gold looks like it is rejecting the top of the consolidation area on the daily chart near £1833/oz and silver has stalled just ahead of $25/oz. In the rest of the commodities complex, copper is -0.87% lower but spot WTI bucked the trend to jump 0.73% higher. Read More
Learn & Earn: Lesson 3 - What is KAU and KAG
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.
In this lesson, we explore digital gold and silver. Learn how you can become your own central bank. From how the underlying bullion is allocated, through to purchasing and creating these digital units of physical gold and silver.
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.
