20 November 2022Gold and silver both slipped back from earlier strong gains towards the end of the past week, despite a fall in the dollar index. There was a distinctly bearish forecast for precious metals going forwards from Metals Focus for 2023, but the consultancy still reckoned gold at least would continue to play a role in investment portfolios as other asset classes would perform even worse.
06 November 2022After an extremely volatile few days price-wise following last week's FOMC meeting, gold and silver prices both ended the week appreciably higher and there was a possibly unjustified late surge in equity valuations and bitcoin too despite the global economy seemingly headed into a period of recession,
21 October 2022September's Swiss gold import and export figures show a continuation of flows from West to East with China, India and Turkey dominating and confirming recent reports on Bloomberg of resultant high premiums in some Asian markets.
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.....
25 September 2022
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.
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.
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.
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