kinesis money system

Gold price could 'easily' regain $2k next week as more debt ceiling troubles ahead – analysts Even though gold is wrapping up the week down $30 — its worst performance since February — the Friday afternoon rebound keeps the bullish gold trend alive. The gold market recovered after Federal Reserve Chair Jerome Powell said rates might not have to rise as much due to tighter credit conditions after the banking sector turmoil. "The financial stability tools helped to calm conditions…

Gold rallies to daily high on short covering, Powell remarks Gold prices have pushed to double-digit gains in late-morning trading Friday. Short covering by the shorter-term futures traders, after the recent solid price losses, is featured. Also, the yellow metal rallied as Federal Reserve Chairman Jerome Powell said in a panel discussion that developments in the banking sector may mean interest rates may not need to rise as much to meet the Fed’s policy goals. However, other comments Powell made…

Strong decline in gold as economic data moves the Feds policy more hawkish A virtual pivot of market sentiment in gold as the precious yellow metal has a deep price decline this week. On Tuesday, May 16 gold futures basis the most active June contract opened at approximately $2020 per ounce. Today gold futures traded to a low of $1954.40. The nearly $70 drop resulting from selling pressure on Tuesday and today is significant in that it has created strong…

Gold slumps as Fed confirms its resolute stance on lowering inflation In the span of just under two weeks, from Thursday, May 4 to Wednesday, May 17 we have seen gold drop substantially and concurrently the dollar gained substantially. Gold traded to a high of $2085 on March 4 and today traded to a low of $1978 resulting in a drop of $107 in just under two weeks. This is a net decline of 5.26% per ounce. When we look…

Gold, silver prices down on demand worries, bearish outside markets Gold and silver prices are solidly lower near midday Tuesday. Weaker economic data coming out of China has prompted increased concerns about consumer and commercial demand for precious metals. Meantime, bearish outside market forces on this day are working against the metals markets—firmer U.S. dollar index, weaker crude oil and rising U.S. Treasury yields. June gold hit a two-week low today and was last down $20.20 at $2,002.40. July silver…

Debt ceiling negotiations will resume on Tuesday which supports gold prices A second debt limit meeting between President Joe Biden and Senate majority leader McCarthy and other top congressional leaders will be held tomorrow, Tuesday, May 16. The divide between both sides was too wide for any progress to result from their first meeting. Staff on both sides negotiated through back channels to find common ground and potential compromises over the weekend. The probability that tomorrow’s talks will yield any…

More than a quarter of Americans now view gold as the best long-term investment Gold is holding above $2,000 an ounce, but it's not making any new significant gains. And silver is down more than 6% in the last five days. Weaker economic data has reignited recession fears, keeping gold and silver on the sidelines because of lower demand expectations.   Here's a look at Kitco's top three stories of the week: 3. Palantir sells all of its gold-bar holdings…

Biden and McCarthy locked in disagreement postponing negotiations The Washington standoff over raising the debt ceiling has raised economic concerns on a global basis. A nonpartisan congressional report cited a "significant risk” of a historic default within the first two weeks of June. A report by the U.S. Congressional Budget Office confirmed statements by Treasury Secretary Janet Yellen warning that a government default could come as early as June 1. The debt limit meeting between President Joe Biden and top…

Gold, silver hit by heightened recession worries Gold prices are lower and silver prices sharply lower in midday U.S. dealings Thursday. Some fresh banking jitters and weaker U.S. economic data today have rekindled concerns about an economic recession being on the horizon. Gold and silver market bulls are somewhat frustrated their metals are not performing better due to safe-haven demand amid the keener marketplace uncertainty. However, at least on this day it appears metals traders are more focused on the…

Gold, silver sell off on profit taking; US PPI now in focus Gold and silver prices are lower at midday Wednesday and have erased the modest gains seen in the immediate aftermath of a U.S. inflation report that was close to market expectations. Profit taking from the speculative futures traders is featured in both markets. June gold was last down $11.00 at $2,031.90 and July silver was down $0.343 at $25.555. The U.S. data point of the week saw the…