kinesismoneysystem

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…

Gold price to keep trading at historically high levels as markets monitor debt ceiling debate and credit conditions – analysts Concerns about credit conditions and the debt ceiling debate will keep gold prices at historically elevated levels for the next few months, according to analysts. The gold market retreated Friday as the banking fears subsided and the U.S. April employment report came in better than expected. The U.S. unemployment rate fell back to a 53-year low of 3.4%, while the…

Gold gains traction as Fed hints at a pause after raising rates ¼% The Federal Reserve concluded this month's FOMC meeting and as expected the Fed raised its terminal rate by ¼%. This takes the Fed benchmark rate to between 5% and 5 ¼%. Most importantly, after 10 consecutive rate hikes the Fed signaled that they may finally enact a pause of further rate increases at the next FOMC meeting in June. This would allow the Federal Reserve to assess…

Gold surges as concerns of banking crisis and the debt-ceiling crisis re-emerge With the FOMC meeting to conclude tomorrow the Federal Reserve will most likely announce a ¼% rate hike and attention has shifted away from the Fed as market participants focus on other potential calamities within the financial markets. Genuine angst regarding the debt ceiling and concern about the re-emergence of the banking crisis has weighed heavily on the minds of market participants. These concerns are so significant that…