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.
17 August 2022The CME's Fedwatch Tool provides an excellent indicator to the thinking behind current U.S,.market activity in all asset classes dependent as they are so much on likely Fed interest rate policy at the forthcoming FOMC meeting although this is still around five weeks away.
15 August 2022The gold price succeeded in closing the past week above $1,800 but was brought back down sharply in early European trade this morning, Likewise silver which hit over $20,80 on Friday. Equities advanced on expectations of a less aggressive approach by the Fed at the next FOMC meeting, but it is early days yet.
08 August 2022Latest SGE gold withdrawal figures put July comfortably ahead of those for the same month in 2021 indicating that Chinese gold demand is picking up nicely despite problems associated with lockdowns resulting from the nation's zero-Covid policies
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