Archive

Investors wait for tomorrow’s CPI inflation report for April Traders and investors are waiting for the release tomorrow of the Consumer Price Index inflation report that will be released right before New York markets open. The CPI will probably be one of the most important economic reports to be released by the government this month. Not only will the CPI be an integral component that will shape and influence market sentiment of individual investors, but it will also help to…

Cash is the king as financial market melt-down continues taking gold lower The selling pressure continued as U.S. equities continued in their dramatic decline. On March 28, the S&P 500 hit an intra-week high of 4635. What followed was five consecutive weeks of dramatically lower values. If today’s selling pressure indicates the week ahead, we could certainly witness U.S. equities declining over the last six consecutive weeks. In this short period, the S&P 500 has lost almost 14% in value…

Here's why gold is 'the most confusing' commodity right now The latest comments from the Federal Reserve triggered a massive selloff across all risk assets. But why is gold still below the $1,900 level? Here's a look at Kitco's top three stories of the week: 3. Gold and bitcoin jump as Fed's Powell takes 75bps hike off the table in June 2. Bitcoin price plummets, gold gives up gains and stocks plunge in post-Fed trading 1. Gold is 'the most…

Is the Fed facing a credibility problem and why is gold price the 'punching bag'? Extreme volatility in the marketplace in reaction to the latest policy shift by the Federal Reserve has many risk-on assets in a downward spiral, but why is gold — a safe-haven asset — once again 'the punching bag'? Gold failed to hold above the $1,900 an ounce level this week as markets had a very erratic reaction to the Fed raising rate by half-a-point Wednesday…

Reversals across many markets, while gold remained resilient This week the Federal Reserve addressed revisions to its current monetary policy in its attempt to reduce the current levels of inflation to an acceptable target. The statement released after the FOMC meeting, coupled with Chairman Powell’s press conference, resulted in extreme volatility in many financial sectors. Market participants witnessed one of the strongest knee-jerk reactions and complete market sentiment reversal over 24 hours. The initial market sentiment was extremely short-lived as…

Gold firmer but loses altitude as USDX, bond yields spike up Gold prices are posting modest gains in midday U.S. trading Thursday but the bulls are fading fast after solid early gains have been erased. The precious metals markets are being buffeted today by strong gains in the U.S. dollar index and a big spike up in U.S. Treasury yields. June gold futures were last up $5.70 at $1,874.30 and May Comex silver was last down $0.037 at $22.33 an…

Gold, silver see tepid short covering after recent losses Gold and silver prices are firmer in midday U.S. Trading Tuesday. Short covering by the shorter-term futures traders was feature today after both metals hit 2.5-month lows on Monday. The bulls are trying to stop the bleeding in down-trending markets that have been punished by a strong U.S. dollar and rising bond yields. June gold futures were last up $7.50 at $1,871.10 and May Comex silver was last up $0.101 at…

Gold, silver smacked by strong USDX, rising bond yields, technical selling Gold and silver prices are sharply lower in midday U.S. Trading Monday, with both scoring 2.5-month lows. The precious metals are getting hit early this week by the bearish outside market forces of a strong U.S. dollar index that is near a 20-year high, higher U.S. Treasury yields and chart-based selling pressure as the near-term technical have eroded significantly the past two weeks. June gold futures were last down…

A massive destruction of wealth is coming, this is what the Fed is 'engineering' – Alfonso Peccatiello Attempting to slow down the economy and subdue inflation, the Federal Reserve has already raised interest rates by 25 basis points and is expected to raise rates by 50 basis points at each of its next two meetings in May and June. "Right now, the wealth effect still dominates the way we engineer economic growth to make sure the balance sheets of consumers…