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News Bites The US and China are on ‘brink of war’ as gold touches record highs and banking sector troubles intensify

May J, 2023

News Bites The U.S. and China are on 'brink of war' as gold touches record highs and banking sector troubles intensify Gold's price action was defined by major volatility this week. Gold Comex futures tested record highs as the banking sector troubles intensified. Markets also dissected Federal Reserve Chair Jerome Powell's messaging, while Friday's stronger-than-expected U.S. employment report weighed on gold. Here's a look at Kitco's top three stories of the week: 3. Comex gold prices test record highs and…

Gold has found support above 2000 aided by the belief the Fed will pause hikes soon

April J, 2023

Market Hive

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Gold has found support above $2000 aided by the belief the Fed will pause hikes soon Over the last 10 trading days, gold futures have effectively closed above $2000 per ounce. Although on an intraday basis, gold has moved below $2000 on three occasions, gold prices recovered and closed above $2000 on each instance. On April 3, gold futures opened at $1990, traded to a high of $2007 and closed just at $2000 per ounce. On the following day, April…

The Seven stages of overcoming the new hawkish Federal Reserve’s policy and forward guidance

February J, 2023

Market Hive

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The Seven stages of overcoming the new hawkish Federal Reserve's policy and forward guidance Although the Federal Reserve implemented its first interest rate hike approximately one year ago, market participants went through various stages of accepting the new Federal Reserve’s narrative as fact. Oddly there are similarities to the way market participants went through a process of steps before they were able to accept and incorporate the forward guidance of the Federal Reserve. There are similarities between the steps needed…

Changing expectations of the Fed’s forward guidance pressure gold lower

February J, 2023

Market Hive

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Changing expectations of the Fed's forward guidance pressure gold lower The Federal Reserve first spoke about its forward guidance at last year’s Jackson Hole Economic Symposium. Specifically, it was Chairman Powell’s keynote speech that delivered the blow to the American public about its intent to raise rates and keep those elevated rates in place until the Fed hits its 2% inflation target. After the December FOMC meeting the Federal Reserve released its economic projections for 2023 – 2025 including the…

With gold ending the week above 1900 analysts turn their focus to 2000

January J, 2023

Market Hive

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With gold ending the week above $1,900, analysts turn their focus to $2,000 Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023. The gold market is ending the week at a nine-month high as renewed safe-haven demand pushed prices above $1,920…