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QCP Capital crypto market update – June 08, 2020 Friday's incredibly positive US Non-Farm Payrolls number has led to the largest divergence between Gold and S&P 500 prices since the March lows (Orange line & Red line respectively in the chart below) – with Gold lower and Equities higher. The big question for us is which will BTC follow? Or will it get stuck in the cross-current? Since end-April, BTC (Beige line) has tracked Gold much closer than it has…

Gold price has room to move lower after market rocked by Friday’s employment data – analysts The gold market is seeing some stability at the start of the new trading week as prices try to recover from Friday's roughly 3% selloff. August gold futures last traded at $1,689.50 an ounce, up 0.39% on the day. The precious metal took a significant hit Friday. It saw a substantial break below critical support at $1,700 an ounce after employment data showed that…

Gold continues to trade lower as U.S. Labor Department releases May jobs report This week the two important jobs reports were released. Both reports had a profound and bullish impact on U.S. equities, and had the exact opposite effect on the safe haven asset gold, taking prices dramatically lower. On Wednesday ADP released their report which indicated that private sector employment decreased by 2,760,000 individuals in the month of May. While that number might be considered high when compared to…

Gold and silver rates today tumbles in Bangalore, Hyderabad, Kerala, Vizag Gold HIGHLIGHTS Gold and Silver rates in India fell today following the sharp losses of the previous session. Gold and silver rates today 05 June 2020: Gold and Silver rates in India fell today following the sharp losses of the previous session. On MCX, August gold futures fell 0.18% to Rs. 47,510 per 10 gram after tumbling in the previous session. Tracking gold, silver rates also edged lower. On…

PRECIOUS-Gold slips 2% as recovery hopes bolster risk appetite * Gold hits lowest level since May 7 * Private payrolls drop by 2.76 mln in May vs 9 mln forecast Gold fell more than 2% on Wednesday as risk sentiment improved on hopes of a faster recovery from a coronavirus-driven economic slump, with investors largely overlooking civil unrest in the United States. Spot gold fell 1.6 % to $1,699.37 per ounce by 1:05 p.m. EDT (1705 GMT), having earlier hit…

'We expect a considerable drop in gold prices', says ABN Amro Gold positioning remains very crowded, according to ABM Amro, which is why the Dutch bank is not recommending re-entering long gold positions at the moment. “We continue to think that positions are too crowded and that prices are too high to recommend re-entering longs,” ABN Amro precious metals analyst Georgette Boele wrote in a report last week. The bank is projecting a major drop in gold prices within the…

Gold investors are going to have some fun as prices run to $5,000 this decade – Incrementum AG Gold is embarking on a broad-based, decade-long bull market, and it’s not a matter of if prices hit all-time highs but when it hits all-time highs, said one of the authors behind the annual In Gold We Trust report. In an interview with Kitco News, Ronald-Peter Stoeferle, fund manager at Incrementum AG, said that a new monetary policy regime of low interest…