04 September 2022The Moscow Times reports on Russian gold shipments to China, but in amounts so small that it raises the question as to their accuracy given Russia's needs to finance its Ukraine war and China's perceived desire to build its own gold reserves.
03 September 2022Gold and silver prices fell quite sharply during the past week before making something of a recovery on Friday. Equities fell back quite heavily too and bitcoin was down - all in a continuing reaction to Jay Powell's Jackson Hole presentation. he U.S. economy looks to be heading for recession which the Fed may well be using as another weapon in its efforts to bring inflation under control,
01 September 2022While the gold price has slipped in U.S. dollar terms over the past month, it has not done so in many other currencies which have also fallen in terms of their dollar parities.
29 August 2022The gold price may have looked weak in recent weeks, but in comparison with equities and bitcoin it has been doing extremely well. We compare gold's performance year to date with these other two asset classes which both look vulnerable to further sharp falls as we seem to be heading for a global recession.
27 August 2022A flurry of activity towards the end of the week with some key data releases and, most importantly Fed chair Jerome Powell's Jackson Hole speech, saw some dramatic market falls, particularly for equities and bitcoin. Precious metals fell back too, but not to nearly the same extent.
25 August 2022Gold is mostly moving positively so far today as markets are moving towards assuming a more aggressive approach by the Fed on interest rates at September's FOMC meeting. Fedwatch tool odds are currently moving in favour of a 75 basis point increase.
24 August 2022The CME's daily updated Fedwatch Tool is a great guide to U.S. market sentiment and its daily volatility. The Tool predicts the market's view on the likely size of the Fed's rate increase imposition at the next FOMC meeting, which in turn is a great window on the perceived view of the state of the U.S. economy, but it, like the markets themselves, can be extremely volatile day-to-day.
23 August 2022July's Swiss gold export figures were much higher than for the previous three months and show that China returned, after a gap of several months, to being the top recipient that month, replacing India which dropped to fourth.
22 August 2022Another month has passed without Russia making any announcement on any changes to its gold reserve position. The conclusion is that this information is being suppressed because of the ongoing war in Ukraine and that Russia may well be using its gold to help finance this.
21 August 2022The gold price dipped sharply this past week after making good gains in the week previous. A strong dollar and fears of an aggressive Fed contributed. This coming week will see this year's Jackson Hole Economic Symposium take place, which could generate some price movements as could some other data.
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