kinesismoneysystem

Other potential outcomes from quantitative tightening by the Federal Reserve The Federal Reserve’s monetary policy composed of aggressive rate hikes in tandem with a balance sheet reduction is intended to achieve price stability through lower inflation. The Federal Reserve is assuming that it can effectively reduce inflation without creating a recession. While this is one possible outcome, at best achieving this goal will be exceedingly difficult, and at worst impossible to accomplish. Russia’s invasion of Ukraine has had a profound…

Gold, silver down as chart-based bears pressing their case Gold and silver prices are lower at midday today, in a choppy, two-sided trading session. The significantly bearish near-term technical postures for both metals are inviting the speculators to play the short sides of the futures markets at present. Gold hit a six-week low and silver a two-year low today. August gold futures were last down $6.80 at $1,810.60. Gold prices are close to key chart support levels ($1,800.00 and $1,792.00)…

Gold, silver bulls squelched by firmer U.S. dollar Gold and silver prices are steady to slightly lower in midday U.S. trading Wednesday. A rally in the U.S. dollar index at mid-week kept the precious metals bulls at bay. August gold futures were last down $1.20 at $1,819.90. July Comex silver futures were last down $0.136 at $20.67 an ounce. The marketplace was closely watching a central bankers’ forum in Portugal that began earlier today. Speakers included Fed Chairman Powell, ECB…

An important bigger-picture perspective on gold Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) – An examination of the monthly continuation chart for nearby Comex gold futures is a classic example of why it’s important to look at the longer-term charts, in order to gain a critical over-the-horizon perspective on where a market has…

Market participant wait for two key reports this week; GDP and PCE Analysts and investors are waiting for two critical government reports due out on Wednesday and Thursday of this week. On Wednesday the Bureau of Economic Analysis (BEA) will release its latest numbers on real GDP which will be followed on Thursday by the PCE for May 2022. Concerns over a potential recession which will either be confirmed or negated by Wednesday’s GDP report. These concerns took both the…

Gold’s price floor has gone up – What this means for Newmont, the world’s largest gold miner – Tom Palmer Tom Palmer, CEO of Newmont, said that gold’s price floor has increased considerably over the past decade, making mining more lucrative as a result. “We think, fundamentally, that the floor for gold has changed,” he said. “You typically have seen it sitting, probably for the last decade, at around $1,200 as a floor. I think the events of the last couple…

Gold holds above a key support level in light of rising interest and yields Gold continues to trade in an extremely narrow range as the precious yellow metal reacts to two opposing forces; rising interest rates and inflation. However, the recent price declines in gold have been shallow and short-lived at best. Most importantly, gold prices have held above a key support level which is Fibonacci based. The data set used for this Fibonacci retracement set contains a long period…

Crypto weekend meltdown: Bitcoin price touches $17k, Ethereum below $900 as renewed selloff sends prices spiraling The crypto space faced another sharp selloff during the weekend as Bitcoin plunged below $18,000 and Ethereum dropped below $900. The overall crypto market cap plummeted to $847 billion, down nearly 10% on the day. Bitcoin touched $17,677, the lowest level since November 2020, and Ethereum fell to a low of $893, the level last seen in January 2021. "Bitcoin appears to be hanging on for dear life…

Gold is doing 'spectacular job' but price drop to $1,800 not ruled out, here's why Gold surprised this week with its resilience and steadiness after an oversized 75-basis-point hike from the Federal Reserve and massive volatility across many markets. But analysts don't see a major rally developing in gold in the short-term, and they are not even ruling out a move back to $1,800. The precious metal's reaction to the Fed's decision to raise rates by 75 basis points —…