03 December 2022Gold breached the $1,800 level on December 1st, but fell back again quite sharply in early U.S. trade a day later before clawing its way back up again to end the week in the high $1,790s. Silver did rather better, although we are wary of its past somewhat erratic price performance. We remain confident on the future price performance for gold and, perhaps less so for silver, but are wary on equities and cryptos due to likely economic headwinds,
01 December 2022The combination of a more dovish statement from Fed Chair Jerome Powell and the latest PCE data release drove gold, silver, equities and bitcoin all higher in the U.S. and globally, with gold breaking through the $1,800 barrier at one time.
27 November 2022With the Thanksgiving holiday, Black Friday and the World Cup diverting attention away from the markets there was a relatively quiet week with most sectors performing mildly positively, perhaps encouraged by the release of the minutes from the November FOMC meeting which were taken as suggesting the Fed might start reducing its aggressive interest rate impositions as soon as December.
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.
14 November 2022Friday's trade saw gold and silver prices advance strongly to highs not seen for a few months, although they were coming down again in Europe at the start of the current week. However we think the signs remain positive for them but we are less confident about any progress in equity and bitcoin prices as inflation remains high and the world seems to be heading into recession,
10 November 2022The U.S. Midterm elections which saw President Biden and the Democrats perform far less badly than anticipated, closely followed by the latest CPI figures which saw inflation come in lower than expected, saw gold, silver, pgms. equities and bitcoin all surge sharply.
04 November 2022The November FOMC meeting is now behind us and in its aftermath the gold price shot up, then crashed, and is now recovering again. In his post-meeting press statement Fed Chair Powell did suggest that the Fed might at some stage be looking at reducing its interest rate raising amounts, but at the same time suggested that ultimate rate increase levels might be higher than many had anticipated. Read what you may into that.
01 November 2022The start of the new month saw a good rise in gold and silver prices perhaps boosted by reports of record Q3 central bank gold accumulations and hopes of signs of a less aggressive approach by the U.S. Fed. emanating from the November U.S. FOMC meeting
29 October 2022Latest Fedwatch Tool predictions see the U.S. Federal Reserve easing off in its aggressive approach to raising interest rates at future FOMC meetings, which has given a boost to equity markets, supported by a strong Q3 GDP estimate, although this may not be all that it seems.
14 October 2022Thursday saw the release of the latest U.S. CPI figures which came in slightly down overall, but a little higher than expected, although core CPI came in significantly higher than the month prior and should have generated some strong warning signals. The CME's Fedwatch Tool moves almost 100% towards predicting a 75 basis point rate increase at the November FOMC meeting yet equities soared and the gold price crashed.
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