03 October 2022Gold, silver and the pgms all made good gains as the week began in nervy markets following President Putin;s speech annexing four Ukraine provinces as integral parts of Russia with all the implications that might have on military conflicts on these. The Bank of England's rescue move on the pound and the UK economy, and the latest PCE index data also had their effects on the markets.
28 September 2022The gold price is still showing signs of weakness in the face of U.S. dollar strength in international currency markets, but there is a sense that the U.S. Fed may shortly have to slow its aggressive interest rate raising moves in order to protect the U.S. economy from a recessionary meltdown.
27 September 2022The gold price may well be declining in U.S. dollars, but not so in many other currencies where perhaps undue dollar strength means the gold price has actually been increasing - and a good example is the UK where the gold price has risen 13% year to date, It has risen by a similar amount in the Japanese Yen and 9% in the Euro. It's an ill wind.....
23 September 2022We have now had rate increase decisions from the U.S. Fed and the Bank of England - respectively of 3/4% and 1/2% - and the markets and currencies have reacted accordingly. It looks like the major economies are certainly headed for, if not already in, recession, and markets are reacting accordingly. The dollar is surging and even precious metals prices are suffering.
14 September 2022The latest Consumer Price Index Figures for August came in higher than expected both year-on-year and month-on-month and prompted a re-assessment of likely Fed interest rate moves at this month's FOMC meeting in a week's time. Now a 1% rate rise is considered a possibility,
11 September 2022Despite the Fedwatch Tool moving ever more strongly in favour of a 75 basis point rate rise at this month's FOMC meeting - now less than 2 weeks away - equities and bitcoin made good gains in value over the past few days when logic tells us they should have moved in the opposite direction as higher rate rises make recession more likely.
08 September 2022The CME's Fedwatch Tool has been moving strongly in favour of the likelihood of an aggressive Fed interest rate rise at the forthcoming FOMC meeting in jus under 2 weeks time.
08 September 2022The latest gold withdrawal figures for August from the Shanghai Gold Exchange suggest that Chinese gold consumption continues to rise year on year, but still remains well below its earlier peaks, but it could be making up for any shortfall in domestic production by buying Russian gold.
05 September 2022The latest figures for June quarter Australian gold output from specialist Melbourne-based consultancy Surbiton Associates puts the 3-month figure at 83 tonnes bringing the annual total to 317 tonnes, putting Australia in third place globally for annual gold production behind China and Russia
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