Trump’s America-First policy drives US dollar and bond yields higher, pushing gold prices down 3%, silver prices down 5%
==========

Former President Donald Trump becomes the 47th President of the U.S.; Trump’s America-First policy drives U.S. dollar and bond yields higher; Spot gold prices down 3% at $2,657.60/oz; Silver prices down 5% at $30.95/oz; Ole Hansen from Saxo Bank notes strong dollar rally as main reason for gold struggle; Falling copper prices also impact silver; Hansen suggests selloff could be a buying opportunity; Matthew Jones from Solomon Global sees long-term potential for gold despite short-term pressures; Trump’s tariffs could positively affect precious metals; Concerns over U.S. debt and inflation; Article published by Kitco News.

#Trump #Gold #Silver #UsDollar #BondYields #PreciousMetals #Economy #Inflation #Tariffs #MarketAnalysis

https://www.kitco.com/news/article/2024-11-06/trumps-america-first-policy-drives-us-dollar-and-bond-yields-higher-pushing 

 US dollar softer ahead of election and jobs data
==========

The US dollar weakened against major currencies on Oct 30, 2024, following strong US private payrolls growth in October and a UK budget release. The dollar index fell 0.17% to 104.06 after reaching 104.63 on Oct 29. The US economy grew at an annualized rate of 2.8% in Q3, slightly below the 3% forecast. Marc Chandler from Bannockburn Global Forex noted market adjustments ahead of upcoming jobs data and the Nov 5 election. Uto Shinohara from Mesirow Currency Management indicated a 25-basis-point rate cut is priced in for the Fed's November meeting, with uncertainty for December. Speculation of a Donald Trump victory in the election has influenced market sentiment. The UK budget delivered by Rachel Reeves saw sterling fall initially but stabilize later. The euro rose 0.36% to $1.0857, while the Aussie dollar increased to $0.6577 after hitting a low of $0.6537. The ECB's Joachim Nagel stated inflation victory is near, and the US economy showed solid growth ahead of the election.

#UsDollar #Election #JobsData #Economy #Inflation #UkBudget #Currency #AdpReport #FederalReserve #Trump

https://www.kitco.com/news/off-the-wire/2024-10-30/us-dollar-softer-ahead-election-and-jobs-data 

 Gold prices surging to record highs amid rising U.S. debt and elevated bond yields - Sprott’s Ryan McIntyre
==========

Gold prices have surged to $2,800 an ounce, marking a 35% increase this year; U.S. 10-year bond yields have risen above 4%, reaching a three-month high; Ryan McIntyre of Sprott Inc. attributes rising bond yields to growing U.S. debt, which exceeds $35 trillion; McIntyre warns of potential recession impacts on debt levels; he recommends holding 10% of net worth in physical gold and a 5% allocation in precious metals mining stocks; gold is viewed as a safe-haven asset amid economic uncertainty; McIntyre believes gold has unlimited upside potential despite higher bond yields.

#Gold #UsDebt #BondYields #Investment #Economy #Sprott #RyanMcintyre #PreciousMetals #MarketAnalysis #SafeHaven

https://www.kitco.com/news/article/2024-10-30/gold-prices-surging-record-highs-amid-rising-us-debt-and-elevated-bond 

 US firms point to steady economy but see lower profit margins, Fed says
==========

U.S. economic activity was little changed from September through early October; firms reported a slight uptick in hiring; Federal Reserve expects a 25-basis-point reduction in borrowing costs at the Nov. 6-7 meeting; inflation pressures are moderating; input prices rose faster than selling prices, affecting profit margins; U.S. job gains increased significantly in September, with unemployment at 4.1%; retail sales showed solid growth; businesses remain cautious due to election uncertainty; annual price increases slowed to 2.2% in August; input prices rose moderately, particularly in insurance and healthcare; Fed's Beige Book survey conducted through Oct. 11.

#UsEconomy #FederalReserve #Inflation #JobMarket #EconomicActivity #BeigeBook #InterestRates #RetailSales #ProfitMargins #PresidentialElection

https://www.kitco.com/news/off-the-wire/2024-10-23/us-firms-point-steady-economy-see-lower-profit-margins-fed-says 

 Futures pressured as yields rise; 3M, GM up after results
==========

U.S. stock index futures fell on October 22, 2024, as rising Treasury yields pressured rate-sensitive shares; General Motors (GM.N) rose 2.4% after beating Q3 estimates; 3M (MMM.N) increased 3.5% after raising its profit forecast; Dow E-minis down 169 points (0.39%), S&P 500 E-minis down 30 points (0.51%), Nasdaq 100 E-minis down 128.75 points (0.63%); 10-year Treasury yield rose to 4.222%; traders see 87.5% chance of a 25-basis-point rate cut in November; GE Aerospace (GE.N) fell 4%, Danaher (DHR.N) up 2.9%; over 100 companies reporting earnings this week; estimated S&P 500 Q3 earnings growth at 6.5% excluding Energy sector; Philadelphia Fed President Patrick Harker's remarks expected later.

#StockMarket #TreasuryYields #CorporateEarnings #GeneralMotors #3m #EconomicOutlook #FederalReserve #Investors #DowJones #S&p500

https://www.kitco.com/news/off-the-wire/2024-10-22/futures-pressured-yields-rise-3m-gm-after-results 

 European and US bonds rapidly diverge as economic wedge widens
==========

As of October 15, 2023, the gap between U.S. and German 10-year bond yields has reached 183 basis points, the widest since July; Simon Blundell from BlackRock predicts further divergence; U.S. jobs growth in September indicates economic strength, while euro area business activity contracted; Goldman Sachs forecasts the yield gap to rise to 200 bps; Germany's economy is expected to contract for a second consecutive year in 2024; France plans to raise taxes and cut spending to reduce its budget deficit; Bank of America doubts the euro zone can sustain 2% interest rates; UBS sees potential growth in Spain and Italy; the OECD expects U.S. growth at 2.6% in 2023, compared to 0.7% in the euro zone.

#Bonds #Economy #InterestRates #Germany #Usa #Ecb #Fed #Inflation #FinancialMarkets #Oecd

https://www.kitco.com/news/off-the-wire/2024-10-15/european-and-us-bonds-rapidly-diverge-economic-wedge-widens 

 LBMA 2024: Three central banks say they see global official gold holdings going higher
==========

Central banks' demand for gold is expected to rise despite recent slowdowns; Enkhjin Atarbaatar (Central Bank of Mongolia), Marek Sestak (Czech National Bank), and Joaquín Tapia (Banco de México) participated in a panel at LBMA 2024; Czech National Bank has purchased 32.8 tonnes of gold since March, holding 44.8 tonnes total (2.4% of reserves); Czech plans to increase holdings to 100 tonnes; Bank of Mongolia holds 4.9 tonnes (8.7% of reserves) and has sold 3.5 tonnes this year; Banco de México holds 120.4 tonnes (4.2% of reserves) and values gold for diversification; geopolitical uncertainty and falling interest rates may boost gold prices; central banks see gold as a potential alternative to the U.S. dollar; challenges include gold market liquidity; Mongolia's reserves are primarily in U.S. dollars, complicating trade.

#Gold #CentralBanks #Lbma #CzechNationalBank #BancoDeMéxico #CentralBankOfMongolia #GeopoliticalUncertainty #ForeignReserves #PreciousMetals #MarketAnalysis

https://www.kitco.com/news/article/2024-10-14/lbma-2024-three-central-banks-say-they-see-global-official-gold-holdings 

 Project 2025 Wants Gold to Rule Again — But Is It Fool’s Gold?
==========

Project 2025, launched in 2023 by the Heritage Foundation, proposes reestablishing the gold standard and eliminating the Federal Reserve; Donald Trump disavows the project despite contributions from former Cabinet members; Chapter 24 advocates for free banking and gold-backed currency as solutions for economic stability; Experts Michael Bordo and John Cochrane criticize free banking as historically unstable; Bordo emphasizes that the gold standard did not ensure price stability; Cochrane argues for government involvement in defining currency value; Project 2025 suggests reforms for the Federal Reserve, including eliminating the dual mandate and setting explicit inflation targets; Critics highlight the impracticality of returning to a gold standard in today's economy.

#Project2025 #GoldStandard #FederalReserve #MonetaryPolicy #FreeBanking #DonaldTrump #HeritageFoundation #EconomicStability #Inflation #FinancialRegulation

https://www.kitco.com/news/article/2024-10-10/project-2025-wants-gold-rule-again-it-fools-gold 

 Gold traders confused among anchored geopolitical tension and US ADP data
==========

Gold prices are retracing from highs due to geopolitical tensions and US economic data; Iran attacked Israel, causing gold prices to soar over 1% yesterday; US ADP data exceeded expectations, impacting gold traders' outlook; traders are uncertain about future price direction due to potential Israeli attacks on Iran; Fed's monetary policy may adjust based on US labor market health; current gold price remains above yesterday's lows despite negative territory today.

#Gold #Trading #Geopolitics #UsEconomy #AdpData #Iran #Israel #Fed #MonetaryPolicy #MarketAnalysis

https://www.kitco.com/opinion/2024-10-03/gold-traders-confused-among-anchored-geopolitical-tension-and-us-adp-data 

 Gold prices shine bright: Will the momentum continue
==========

Gold prices are up over 28% YTD and 45% YoY; September saw a 4.94% increase; Fed's unexpected jumbo interest rate cut influenced price surge; US NFP data critical for future price direction; potential for another significant rate cut; market volatility expected as traders assess economic indicators.

#Gold #FederalReserve #Nfp #InterestRates #MarketTrends #Investment #PreciousMetals #Trading #Economy #Volatility

https://www.kitco.com/opinion/2024-09-30/gold-prices-shine-bright-will-momentum-continue 

 Gold soars to new heights, but miners are the real opportunity – VanEck portfolio manager
==========

Gold reached record highs for five consecutive days; Imaru Casanova, VanEck portfolio manager, noted significant volatility in August 2024; on August 5, a surprise rate hike from Japan's central bank triggered a global sell-off; TOPIX dropped 12%, the largest since 1987; S&P 500 and Nasdaq also declined; gold closed at $2,524.64 on August 27, up 11% over 10 years; NYSE Arca Gold Miners Index rose 2.44% in August, while MVIS Global Juniors Gold Miners Index increased by only 0.42%; gold stocks underperformed gold bullion; average margins expanded by 8% in August; Scotiabank estimates gold mining equities are at a 23% discount to spot gold; BofA Global Research reported a decline in new gold discoveries; Casanova suggested potential for gold price stability unless western investor interest increases; World Gold Council noted positive fund flows into North American gold ETFs; Casanova concluded that gold mining equities are attractive for recession-proof investments.

#Gold #Mining #Investments #MarketAnalysis #Economy #Volatility #Etfs #Casanova #Vaneck #Scotiabank

https://www.kitco.com/news/article/2024-09-26/gold-soars-new-heights-miners-are-real-opportunity-vaneck-portfolio-manager 

 Futures start week on upbeat note as soft landing optimism lingers
==========

Futures tied to Wall Street's main indexes gained on September 9, 2024, rebounding from losses as investors remained optimistic about soft landing prospects for the U.S. economy ahead of a crucial inflation report. Tesla (TSLA.O) led gains, up 1.7%. Chip stocks AMD (AMD.O) and Marvell Technology (MRVL.O) rose 1% and 1.7%, respectively. The S&P 500 is still 13.4% higher for the year despite recent volatility. Seema Shah, chief global strategist at Principal Asset Management, noted that rate cuts could avoid a downturn but warned of recession fears if conditions worsen. Consumer prices data is due on September 11, expected to show 2.6% yearly inflation. Money markets see a 75% chance of a 25-basis-point rate reduction by the Fed next week. Boeing (BA.N) advanced 4.7% after a tentative agreement with a union, while Dell Technologies (DELL.N) and Palantir (PLTR.N) rose 5.9% and 8%, respectively, ahead of their inclusion in the S&P 500 on September 23.

#Futures #WallStreet #Economy #Inflation #Stocks #Boeing #Tesla #S&p500 #RateCuts #JobData

https://www.kitco.com/news/off-the-wire/2024-09-09/futures-start-week-upbeat-note-soft-landing-optimism-lingers 

 Ignore U.S. dollar volatility and focus on gold in euro terms as prices test April highs - MKS’ Nicky Shiels
==========

Gold is consolidating around record highs above $2,500 an ounce; Nicky Shiels, Head of Research and Metals Strategy at MKS PAMP, emphasizes focusing on gold in euro terms (XAUEUR) as it trades near record highs; XAUEUR is at €2,259.60 an ounce, with critical resistance around €2270-2280; Shiels notes six failed attempts to break above €2270-2280 since April; gold is building a solid base around €2,200; market sentiment is bullish as the Federal Reserve prepares for easing; expectations for a 25-basis-point cut and a potential 50-basis-point cut are influencing gold prices; European Central Bank expected to cut rates in September.

#Gold #Euro #NickyShiels #MksPamp #FederalReserve #Ecb #MarketAnalysis #Commodities #PreciousMetals #Investment

https://www.kitco.com/news/article/2024-09-02/ignore-us-dollar-volatility-and-focus-gold-euro-terms-prices-test-april 

 A correction won’t shift momentum in gold and silver
==========

Gold and silver face selling pressure ahead of Labor Day; gold reached all-time highs above $2,500 an ounce; U.S. dollar index dropped to lowest since mid-July 2023 at 100.50; U.S. dollar index down 5% in two months; Federal Reserve expected to cut rates by 25 basis points with 30% chance of 50 basis points; U.S. economy grew by 3.0% in Q2 2023; inflation data shows subdued consumer prices; next week's employment data crucial for Federal Reserve's easing cycle; long-term uptrend for gold remains despite volatility; geopolitical uncertainty and growing government debt support gold's safe-haven status.

#Gold #Silver #UsDollar #FederalReserve #Inflation #Economy #MarketAnalysis #PreciousMetals #Investment #GeopoliticalUncertainty

https://www.kitco.com/news/article/2024-08-30/correction-wont-shift-momentum-gold-and-silver 

 Silver price could fall to $28.60 before making another run at $30 – Analysts
==========

Silver price may drop to $28.60 before attempting to reach $30; David Scutt from City Index warns against betting heavily on silver's rise due to ongoing resistance; silver has been correlated with copper futures; recent economic data could impact silver's performance; silver closed lower on Wednesday and continued downtrend on Friday, dropping below $29; potential short trade targets include $28.77, $28.046, and $27.269; Mohemati from TradingView suggests silver is completing a correction wave, with potential for bullish movement in the coming weeks.

#Silver #PricePrediction #MarketAnalysis #DavidScutt #Mohemati #CityIndex #Tradingview #ElliottWave #Bullish #Bearish

https://www.kitco.com/news/article/2024-08-30/silver-price-could-fall-2860-making-another-run-30-analysts 

 Gold prices boosted by interest rate optimism, lower USD and Treasury yields, silver will follow after Fed cuts – Heraeus
==========

Gold prices are rising due to expected Fed rate cuts, U.S. dollar weakness, and falling Treasury yields; gold reached an all-time high of $2,531/oz mid-week; managed money investors hold a net long position of 22 million ounces as of August 16; two-year Treasury yields are below 4% compared to a Federal Funds Rate of 5.5%; gold is currently trading at $2,517.77, up 0.22%; silver demand remains strong with Perth Mint sales rebounding in July, but year-to-date sales are down 47% at 5.55 million ounces; silver prices are expected to rise as interest rates fall; spot silver reached $30.192 per ounce before trading at $29.848, up 0.06%; the article is authored by Ernest Hoffman.

#Gold #Silver #InterestRates #TreasuryYields #MarketAnalysis #Heraeus #PreciousMetals #Investment #Economy #Bullion

https://www.kitco.com/news/article/2024-08-26/gold-prices-boosted-interest-rate-optimism-lower-usd-and-treasury-yields 

 Another week, another record high for gold
==========

Gold is trading above $2,500, nearing record highs; analysts indicate further rally potential as the Federal Reserve begins a new easing cycle; Fed minutes from July show support for potential rate cuts; Powell confirms policy adjustments are needed; markets anticipate a 36.5% chance of a 50-basis-point rate cut in September; Consumer Stress Legal Index rose 5.8 points in July to 67.6, highest since November 2020; U.S. dollar index at a yearly low below 101 points; silver prices above $29 an ounce, outperforming gold; Samsung developing solid-state batteries incorporating silver, with mass production planned with Toyota by 2027.

#Gold #Silver #FederalReserve #Economy #ConsumerStressIndex #Samsung #Batteries #PreciousMetals #MarketAnalysis #Investing

https://www.kitco.com/news/article/2024-08-23/another-week-another-record-high-gold 

 C$ gives back some recent gains after weak domestic data
==========

The Canadian dollar edged lower against the U.S. dollar after weak domestic data showed a decline in wholesale trade and home sales. Canadian wholesale trade fell by 0.6% month-over-month in June, after declining by 1.2% in May. Separate data showed Canadian home sales falling 0.7% in July from June. The Bank of Canada has expressed concerns about too much slack in the economy. The U.S. dollar rose against major currencies after positive U.S. economic data eased fears of a recession. Canadian government bond yields moved higher, tracking U.S. Treasuries. The 10-year yield was up 5 basis points at 3.073%. Canada's economy could benefit from a U.S. soft landing. Canada sends about 75% of its exports to the United States, including oil. U.S. crude oil futures settled 1.5% higher at $78.16 a barrel.

#CanadianDollar #DomesticData #WholesaleTrade #HomeSales #BankOfCanada #UsDollar #UsEconomicData #CanadianGovernmentBondYields #UsTreasuries #Canada'sEconomy #UsCrudeOilFutures

https://www.kitco.com/news/off-the-wire/2024-08-15/c-gives-back-some-recent-gains-after-weak-domestic-data 

 Gold pares gains as dollar, bond yields climb after strong US data
==========

Gold prices pared gains as the dollar and Treasury yields rose after stronger-than-expected U.S. economic data that could influence the size of interest rate cuts from the Federal Reserve. Spot gold was up 0.3% at $2,454.40 per ounce, as of 1:46 p.m. EDT (1746 GMT), after rising as much as 0.9% earlier in the session. U.S. gold futures settled 0.5% higher at $2,492.40. U.S. retail sales increased 1.0% last month after a downwardly revised 0.2% drop in June, the Commerce Department's Census Bureau said. Following the U.S. data, the dollar rose 0.5% against its rivals, making gold more expensive for other currency holders, while benchmark 10-year Treasury yields also jumped. Meanwhile, two Fed officials on Thursday lined up behind the possibility of an interest rate cut at the U.S. central bank's policy meeting next month, reversing their previous skepticism about lowering borrowing costs too soon. Spot silver gained 2.6% to $28.30 per ounce. Platinum jumped 3.8% to $954.65 and palladium rose 0.5% to $940.04.

#Gold #Dollar #TreasuryYields #UsEconomicData #FederalReserve

https://www.kitco.com/news/off-the-wire/2024-08-15/gold-pares-gains-dollar-bond-yields-climb-after-strong-us-data 

 Gold, silver rally despite bearish outside mkts, solid U.S. data
==========

Gold and silver prices are up in midday U.S. trading Thursday, ignoring bearish outside markets and strong U.S. data. December gold is up $16.60 at $2,496.30. September silver is up $1.186 at $28.525. The U.S. retail sales report for July came in at up 1.0% from June, much stronger than the expected 0.3% rise. Gold and silver markets saw safe-haven demand due to U.S. government warnings of a potential military attack on Israel by Iran or its proxies. Nymex crude oil prices are firmer, trading around $78.50 a barrel. The benchmark 10-year U.S. Treasury note is fetching around 3.85%. December gold bulls have the solid overall near-term technical advantage. December gold's next upside price objective is a close above solid resistance at the contract high of $2,537.70. September silver futures bears have the overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at the August high of $29.355. The next downside price objective for the bears is closing prices below solid support at $26.00. Gold and silver rally amid bullish outside markets.



https://www.kitco.com/news/article/2024-08-15/gold-silver-rally-despite-bearish-outside-mkts-solid-us-data 

 US junk debt investors cautious of leveraged loans as economy slows
==========

Investors in US junk debt are cautious about leveraged loans as the economy slows; Borrowers pulled back on leveraged loan deals last week following disappointing jobs data; Only six leveraged loans worth $3.3 billion were sold last week, well below the weekly average this year; JetBlue Airways sold a $750 million loan deal; Leveraged loan funds reported $3.1 billion in outflows last week, the most since March 2020; The Morningstar LSTA US Leveraged Loan Index fell 0.55% on Aug. 5, the worst daily performance since March 2023; Some opportunistic transactions were put on hold due to market volatility; There may be a pickup in primary issuance in both the loan and high yield markets; Investor demand for new loan deals has exceeded net loan supply by at least $130 billion this year; A potential economic slowdown and aggressive Fed rate cuts could impact leveraged borrowers' refinancing or new loan plans.

#UsJunkDebt #LeveragedLoans #Economy #Investors #LoanDeals #MarketVolatility #PrimaryIssuance #HighYieldMarket #EconomicSlowdown #FedRateCuts

https://www.kitco.com/news/off-the-wire/2024-08-14/us-junk-debt-investors-cautious-leveraged-loans-economy-slows 

 This contagion market event could trigger an emergency Fed rate cut – Danielle DiMartino Booth
==========

Danielle DiMartino Booth, CEO and chief strategist of QI Research, warns that if there is a contagion in other markets, the Federal Reserve will be forced to play catch-up and make an emergency rate cut. She believes the Fed will have to go for a 50 basis point cut by September 18. However, an emergency rate cut could confirm investors' worst fears and may not be justified by a minor meltdown in the U.S. stock market. The Fed would be prompted to issue an emergency rate cut if there is contagion into the credit markets and credit starts drying up. DiMartino Booth believes the U.S. economy is already in a recession. She also analyzes gold and Bitcoin in this environment.

#FederalReserve #RateCut #Contagion #StockMarket #CreditMarkets #Recession #Gold #Bitcoin

https://www.kitco.com/news/article/2024-08-13/contagion-market-event-could-trigger-emergency-fed-rate-cut-danielle 

 Yen dips, markets stabilise ahead of US inflation data
==========

The yen fell against the dollar on Monday in calmer currency market trading after volatile moves last week; investors are pricing 100 basis points of Fed cuts by year-end; the dollar was trading at 147.55 yen, up 0.7%; markets, in particular Japan's, were rocked last week by an unwinding of the hugely popular yen carry trade; Scotiabank has bought a minority stake in U.S. regional lender KeyCorp in an all-stock deal worth $2.8 billion; the S&P 500 ended higher on Friday and was little changed for the week after clawing back from Monday's steep dive; Australia’s high court has rejected a green group’s request to appeal a judgment dismissing review proceedings on the climate change effects of coal emissions for Whitehaven Coal's Narrabri Stage 3 project

#Yen #Dollar #FedRateCuts #CarryTrade #Scotiabank #Keycorp #S&p500 #WhitehavenCoal

https://www.kitco.com/news/off-the-wire/2024-08-12/yen-dips-markets-stabilise-ahead-us-inflation-data 

 Price gains for gold, silver as U.S. inflation data on
==========

Gold and silver prices are higher in early U.S. trading Monday; December gold was last up $9.00 at $2,482.40 and September silver was up $0.407 at $27.995. The U.S. data points of the week are the July producer price index on Tuesday and the consumer price index for July on Wednesday. Asian and European stock indexes were mixed but mostly firmer overnight. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. The key outside markets today see the U.S. dollar index slightly up. Nymex crude oil prices are up and are trading around $77.75 a barrel. A DowJones Newswire headline today reads: “Oil edges higher as markets brace for Iran retaliation.” Technically, December gold bulls have the firm overall near-term technical advantage. September silver futures bears have the overall near-term technical advantage.



https://www.kitco.com/news/article/2024-08-12/price-gains-gold-silver-us-inflation-data 

 Gold price slightly up on late-week pause
==========

Gold prices are slightly higher and silver slightly lower in early U.S. trading Friday. Traders are waiting for the next significant fundamental event to drive daily price action, which could be a geopolitical development over the weekend or U.S. inflation data next week. The U.S. stock market today could also impact the gold and silver markets. December gold is up $2.50 at $2,465.80, and September silver is down $0.046 at $27.56. Asian and European stock indexes were mixed but mostly firmer overnight. U.S. stock indexes are pointed toward slightly lower openings. China's inflation data shows a rise in the consumer price index and a decline in the producer price index. Concerns remain about a flare-up in Middle East military action. The U.S. dollar index is near steady, crude oil prices are up, and the 10-year U.S. Treasury note is fetching 3.967%. No major U.S. economic data is due out Friday. Technically, December gold bulls have the firm overall near-term technical advantage, while September silver futures bears have the overall near-term technical advantage.

#Gold #Silver #Trading #StockMarket #Inflation #Geopolitics

https://www.kitco.com/news/article/2024-08-09/gold-price-slightly-late-week-pause 

 Gold near session highs as U.S. weekly jobless claims drop to 233k
==========

Gold prices are near session highs as U.S. weekly jobless claims drop to 233k, lower than expectations of 240k claims; Spot gold last traded at $2,410.38 per ounce, up nearly 1.16% on the day; Four-week moving average for new claims rose to 240,750; Continuing jobless claims were at 1.875 million; Ernest Hoffman is a Crypto and Market Reporter for Kitco News



https://www.kitco.com/news/article/2024-08-08/gold-near-session-highs-us-weekly-jobless-claims-drop-233k 

 Gold Struggles to Break Losing Streak Amid Economic Uncertainty and Global Tensions
==========

Gold prices continue to decline, extending a losing streak of five consecutive days; Gold's most active December contract settles at $2,423, marking a daily decline of $8.60 or 0.35%; Recent volatility in the gold market follows a concerning U.S. employment report revealing an unexpected jump in the unemployment rate to 4.3%, triggering the "Sahm Rule" recession indicator; Analysts maintain a bullish long-term outlook for gold, citing concerns about U.S. economic weakness and a favorable U.S. Real Rate outlook; Geopolitical tensions worldwide, including anti-immigration riots in England, potential crisis escalation in the Middle East, and the ongoing conflict in Ukraine, reinforce gold's role as a safe-haven asset; Gold reaches an intraday high of $2,522 on August 2 before succumbing to selling pressure; Gold's performance will likely remain tied to developments in labor markets, inflation data, and geopolitical events; Short-term volatility persists, but economic uncertainties and global tensions suggest gold will resume its upward momentum; Gold market experiences a fourth consecutive day of decline in August.

#Gold #EconomicUncertainty #GlobalTensions #Volatility #UnemploymentRate #SahmRule #UsEconomy #GeopoliticalTensions #SafehavenAsset

https://www.kitco.com/opinion/2024-08-07/gold-struggles-break-losing-streak-amid-economic-uncertainty-and-global-tensions 

 U.S. Dollar Is 'the Biggest Asset Bubble,' All Roads Lead to More Money Printing - Mark Moss
==========

Mark Moss, Host of 'The Mark Moss Show' and Partner of the Bitcoin Opportunity Fund, warns that the U.S. dollar is the biggest asset bubble; Moss explains that a recession in the U.S. will lead to more money printing, liquidity injections, and inflation; The U.S. is running on a debt-based monetary system, with the national debt surpassing $35 trillion; Moss points out that individuals do not really own anything in a debt-based monetary system; Moss states that the state of the U.S. dollar is the biggest issue for investors, as it continues to lose its purchasing power; Moss predicts that if former President Donald Trump wins the election, Bitcoin could reach $400k by the end of 2025; The U.S. national debt has surpassed $35 trillion, strengthening the case for investors to hold Bitcoin and gold; Elon Musk warns that America is going bankrupt as 76% of June tax receipts went to interest on debt

#UsDollar #AssetBubble #MoneyPrinting #Inflation #Recession #LiquidityInjections #DebtbasedMonetarySystem #NationalDebt #Bitcoin #Gold

https://www.kitco.com/news/article/2024-08-07/us-dollar-biggest-asset-bubble-all-roads-lead-more-money-printing-mark-moss 

 The Labor Market Shock: Implications for the Economy and Federal Reserve Policy
==========

The July non-farm payroll report revealed a significant weakening in the labor market, with only 114,000 new jobs added in July, far below economists' forecasts; The unemployment rate jumped to 4.3%, its highest level since October 2021, surpassing the anticipated 4.1%; The unexpected deterioration in employment data has heightened recession fears; U.S. equities experienced substantial declines across major indices, with the Dow Jones Industrial Average falling 1.5%, the S&P 500 and NASDAQ Composite suffering losses of 1.84% and 2.43%, respectively; The U.S. dollar declined by 1.08%, its steepest daily drop since November 14, 2023; The gold market experienced heightened volatility in response to these developments; The probability of a more aggressive 50 basis point rate cut by the Federal Reserve in September surged from 22% to 71.5%; The Federal Reserve faces a delicate balancing act in addressing the economic slowdown while being mindful of still-elevated inflation levels.

#LaborMarket #Economy #FederalReserve #Unemployment #Recession #Equities #Dollar #GoldMarket #RateCut

https://www.kitco.com/opinion/2024-08-02/labor-market-shock-implications-economy-and-federal-reserve-policy 

 Commodities fall, stocks nervy ahead of Fed, BOJ rate decisions
==========

Oil hits lowest since early June; concern about economic outlook dents commodities; bonds, currencies, and stocks trade cautiously ahead of central bank decisions and major corporate earnings reports; Brent crude futures fall to $79.34 a barrel; copper and iron ore prices fall; zinc and aluminium slip to multi-month lows; U.S. stock futures rise 0.2%; MSCI All-World index flat; London's FTSE 100 worst-performing index; German economy unexpectedly contracts in Q2; German 10-year Bund yields steady; Japanese government bond yields edge lower; U.S. Treasury yields ease; markets price almost no chance of U.S. rate cut this week; markets price 60% chance of 10-basis-point rate hike by Bank of Japan; dollar and yen drift; euro edges up to $1.0833; Microsoft and AMD to report earnings; preliminary CPI data due in Germany and Spain; Australian inflation data to be released on Wednesday; Bank of England priced for roughly even chance of rate cut at policy meeting on Thursday; gold prices edge higher as investors await Fed's commentary on monetary policy and U.S. economic data; pound holds steady against dollar ahead of Bank of England's interest rate decision

#Commodities #Stocks #CentralBankDecisions #Oil #Copper #IronOre #BrentCrude #MsciAllworldIndex #Ftse100 #GermanEconomy #German10yearBundYields #JapaneseGovernmentBondYields #UsTreasuryYields #UsRateCut #BankOfJapan #Dollar #Yen #Euro #Microsoft #Amd #CpiData #AustralianInflationData #BankOfEngland #GoldPrices #Pound

https://www.kitco.com/news/off-the-wire/2024-07-30/commodities-fall-stocks-nervy-ahead-fed-boj-rate-decisions 

 Stocks bounce after heavy sell-off as US inflation cools
==========

European shares and US stock futures rebounded on Friday after a week of global equity sell-off; US inflation cooled slightly to 2.5% year-on-year in June; S&P 500 futures were up 0.72% after a 1.9% drop for the week; Nasdaq futures rose 1% after a 7% slump in the past two weeks; Europe's STOXX 600 index rose 0.58% after a 2.7% loss last week; Investors have snapped up smaller companies and ditched popular AI plays; German DAX index rose 0.46% and Britain's FTSE 100 rose 1%; Japan's Nikkei fell 0.53% and Hong Kong's Hang Seng edged up 0.1%; US 10-year Treasury yields dipped slightly to 4.221%; Japanese yen slipped from a 12-week high against the dollar; Dollar was up 0.3% against the yen at 154.39; Oil prices slipped with Brent crude down 0.67% at $81.82 a barrel.

#Stocks #Selloff #Inflation #Equities #Us #Europe #Nasdaq #Stoxx600 #Dax #Ftse100 #Nikkei #HangSeng #TreasuryYields #Yen #Dollar #OilPrices

https://www.kitco.com/news/off-the-wire/2024-07-26/stocks-bounce-after-heavy-sell-us-inflation-cools 

 The U.S. Economy demonstrates unexpected strength in Q2 2024
==========

The Bureau of Economic Analysis (BEA) released its advance estimate of second-quarter GDP growth, revealing unexpected strength in the U.S. economy with a growth rate of 2.8%, surpassing economists' predictions of 2%. The report highlighted contributions from both the services and goods sectors, driving consumer spending upward. The stronger-than-anticipated economic performance may lead to a reconsideration of the Federal Reserve's timeline for normalizing interest rates. As a result, the gold market experienced a sell-off, with the most active August gold contract declining by 1.42%. Attention now shifts to the upcoming Personal Consumption Expenditures (PCE) inflation index for June, which is expected to show a slight increase in the monthly core PCE but a modest decrease in inflation on an annual basis. The report holds significance as it is the Federal Reserve's preferred measure of inflation. If core inflation continues to cool, it could provide bullish tailwinds for gold prices.

#UsEconomy #GdpGrowth #FederalReserve #GoldMarket #Inflation

https://www.kitco.com/opinion/2024-07-25/us-economy-demonstrates-unexpected-strength-q2-2024 

 US economic growth regains steam in second quarter; inflation slows
==========

The US economy grew at a faster-than-expected rate of 2.8% in the second quarter, with inflation subsiding. This has maintained expectations of a September interest rate cut from the Federal Reserve. The economy grew at a 1.4% rate in the first quarter. The personal consumption expenditures (PCE) price index, excluding food and energy, increased at a 2.9% rate, down from 3.7% in the first quarter. The Federal Reserve has maintained its benchmark interest rate at 5.25%-5.50% for the past year and is expected to cut rates three times this year, starting in September. Despite solid economic growth, there are concerns about a slowing labor market, low saving rates, slowing state and local government revenues, and the impact of new tariffs.

#UsEconomy #EconomicGrowth #Inflation #FederalReserve #InterestRates

https://www.kitco.com/news/off-the-wire/2024-07-25/us-economic-growth-regains-steam-second-quarter-inflation-slows 

 Falling commodity stocks drag TSX to two-week lows
==========

Canada's main stock index, the S&P/TSX composite index, fell to its lowest level in two weeks on July 25. The decline was led by precious metal miners as gold and silver prices weakened. Gold prices touched a two-week low after data showed the US economy expanded faster than expected and inflation slowed in the second quarter. Silver prices also skidded, while copper dipped below $9,000 per metric ton for the first time since April. The US gross domestic product (GDP) grew faster than expected in the second quarter, but inflation subsided, leaving intact expectations for a September rate cut by the Federal Reserve. The Bank of Canada (BoC) lowered its interest rates by 25 basis points on July 24 and indicated chances of more cuts if inflation continues to ease. Loblaw Companies dropped 1.5% after missing estimates for second-quarter revenue, while Mullen Group jumped 8% after beating earnings estimates. The US economy grew faster than expected in the second quarter amid solid gains in consumer spending and business investment, but inflation pressures subsided, leaving intact expectations of a September interest rate cut from the Federal Reserve. Gold prices slipped to their lowest in over two weeks on July 25 as profit-taking kicked in after gold's recent rally, while traders awaited US economic data that could offer more cues on when the central bank will cut interest rates.

#StockMarket #CommodityStocks #Gold #Silver #EconomicData #InterestRates #FederalReserve #BankOfCanada #LoblawCompanies #MullenGroup

https://www.kitco.com/news/off-the-wire/2024-07-25/falling-commodity-stocks-drag-tsx-two-week-lows