Federal Reserve minutes reveal angst regarding Upside Inflation Risks’

Federal Reserve minutes reveal angst regarding ‘Upside Inflation Risks’ The minutes from the July FOMC meeting were released today. The document indicated that most Federal Reserve officials still believe that high levels of inflation are an ongoing threat and merit additional interest rate hikes. However, there was not an overall unison regarding the path forward in what can be best described as mixed messages amongst Federal Reserve members. One of the primary takeaways was that members were divided over the…

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Gold continues to trade lower following a strong US retail sales report

Gold continues to trade lower following a strong U.S. retail sales report One could expect that the latest government report on retail sales revealing that they increased by 0.7% in July would garner a positive reaction in U.S. equities. However, it had the exact opposite effect taking all three major indices lower. This is because strong economic growth gives the Federal Reserve more latitude to continue to raise rates as they work to bring inflation down to its target of…

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Gold decline continues after last week’s strong weekly price drop

Gold decline continues after last week’s strong weekly price drop Prices of both spot and futures gold declined between 0.30% and 0.40% today, a direct correlation to dollar strength and higher U.S. Treasury yields. The dollar gained 0.35% in trading today taking the index to 103.05. After last week’s dramatic decline in gold, the first trading day of the week is indicating a continuation of the down-trend based on the most recent economic data. Economic strength and continued inflation will…

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Gold futures remain in uptrend with an expected Fed pause

Gold futures remain in uptrend with an expected Fed pause The gold market did not see much of a reaction after CPI inflation cooled slightly more than expected on Thursday, followed by a mildly hotter-than-expected PPI inflation report this morning. U.S. CPI annual inflation rose 3.2%, up from 3% in June, while PPI inflation for July came in at up 0.3% from June. Thursday’s July CPI report was slightly tamer than expected, which solidified notions the Federal Reserve will stand…

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The Gold market is stuck in neutral but there are still plenty of triggers

The Gold market is stuck in neutral but there are still plenty of triggers The gold market is stuck in neutral and could remain there through the rest of the summer as U.S. economic data continues to support the Federal Reserve's monetary policy tightening bias; however, analysts say that near-term weakness could be seen as a buying opportunity as the market waits for a new spark to trigger a broader rally. While the gold market has been fairly resilient, with…

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Bank of Canada finds little reason for Canadians to adopt a CBDC RCMP wants a digital repository for seized crypto

Bank of Canada finds little reason for Canadians to adopt a CBDC, RCMP wants a digital repository for seized crypto An investigation conducted by the Bank of Canada (BoC) has found that the average Canadian sees little reason to adopt a central bank digital currency (CBDC), which could lead to problems with such a product being broadly accepted should the central bank ultimately decide to release a digital loonie. The main focus of the investigation was on the scenario where…

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Gold silver a bit firmer after tame US inflation report

Gold, silver a bit firmer after tame U.S. inflation report Gold and silver prices are slightly higher in choppy, two-sided trading at midday Thursday. The metals are supported by a U.S. consumer price index report that came in a bit tamer than market expectations. However, gains are limited as the U.S. dollar index has pushed well up from its early-session lows and as U.S. Treasury yields have up-ticked slightly. December gold was last up $2.30 at $1,952.60 and September silver…

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Gold silver weaker on more weak China data technical selling

Gold, silver weaker on more weak China data, technical selling Gold and silver prices are down in midday U.S. trading Wednesday, with both metals dropping to four-week lows. The precious metals are pressured by another economic report out of China that suggests less consumer demand for goods and services, which includes metals. Chart-based selling is also featured at mid-week, as the near-term technical postures for gold and silver have turned more bearish. December gold was last down $7.80 at $1,952.10…

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Weak China data sinks gold silver markets

Weak China data sinks gold, silver markets Gold and silver prices are lower in midday U.S. trading Tuesday. The two precious metals were pressured following surprisingly weak import and export data coming out of China overnight. A rally in the U.S. dollar index and weaker crude oil prices also weighed on the metals today. December gold was last down $9.60 at $1,960.50 and September silver was down $0.437 at $22.79. Risk appetite receded following the news that China got some…

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Gold silver down amid rising bond yields hawkish Fed-speak

Gold, silver down amid rising bond yields, hawkish Fed-speak Gold and silver prices are lower in midday U.S. trading Monday, with silver prices sharply down and hitting a four-week low. The precious metals are seeing selling interest on rising U.S. Treasury yields, hawkish comments from a Federal Reserve official, and as the near-term technical postures for both markets have turned slightly bearish. December gold was last down $8.10 at $1,968.00 and September silver was down $0.491 at $23.23. Some hawkish…

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