kinesis money system

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…

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…

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…

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…

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…

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…

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…

Analysts more bullish on gold following lower job growth, higher wage inflation The gold market rallied following a weaker-than-expected U.S. jobs report for July, which included downward revisions for May and June and strong wage growth, sending spot gold prices from $1931 to an intraday high of $1946.79 The latest Kitco News Weekly Gold Survey showed that the loss of momentum for the U.S. labor market, even as inflation pressures remain in place, had most market analysts bullish or neutral…

CPI could be a make-or-break moment for gold next week as prices look for direction The gold market is back in no-man's land as the price is pushed and pulled between rising bond yields and continued economic uncertainty. According to some analysts, next week's inflation data could be a "make or break" moment for the precious metal as it struggles to find direction. Gold's neutral outlook comes as prices look to end the week holding critical near-term support levels but…

Gold prices remain stuck in neutral as U.S. economy created 187K jobs in July, wages increase The gold market is trying to hold critical resistance levels as the U.S. labor market loses momentum in July, even as inflation pressures remain in place. U.S. nonfarm payrolls rose by 187,000 last month, according to the Bureau of Labor Statistics. The monthly figure was below the market consensus estimates of 205,000. However, the report also noted that the U.S. unemployment rate saw a…