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
03 August 2022The gold price surged back to the $1,800 level, which it achieved very briefly in intra-day trade before falling back again in reaction to Nancy Pelosi's Taiwan visit and fears of China's reaction. This was less severe than feared and gold and silver fell back quite substantially to earlier levels based on the Fed's perceived likely moves at September's FOMC meeting in the light of latest inflation data.
01 August 2022The Fed's preferred inflation measure, the Personal Consumption Expenditure (PCE) index has come in well above expectations and is at its highest level for 40 years indicating that inflation is still running high in the U.S. and recession is almost certainly with us despite denials from President Biden and Fed chair Powell. Current equity and bitcoin strength looks increasingly suspect.
31 July 2022The latest World Gold Council Gold Demand Trends report shows a year on year fall in Q2 gold demand but an overall rise for H1 compared with a year earlier. It also estimates new mined gold output is still rising, albeit slowly.
28 July 2022The immediate aftermath of this week's FOMC meeting saw the US dollar index fall and gold, silver, equities and bitcoin all rise sharply. Reaction today was a little more muted. It will be interesting to see what happens when US markets open
25 July 2022With Russia and China now dominant suppliers of strategic metals, minerals and technological products to the U,S, and Europe, countries are desperately trying to disentangle themselves from such reliances, thereby contributing to rising inflation. This, coupled with fears of conflict escalation in Europe and Asia, should help keep the gold price positive as a safe haven.
22 July 2022Wednesday saw gold and silver prices fall to their lowest levels in around two years from which they have both rebounded in the past couple of days. Equities and bitcoin have both also improved despite continuing high inflation and the likelihood of global recession, Where do they all go from here?
20 July 2022Equities and bitcoin have been making gains on the latest market data while precious metals have mostly remained in the doldrums. The silly season seems to be with us and we may have to wait until after the U.S. Labor Day for markets to find their true direction.
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