Wall Street and Main Street majorities expect gold to break $3,400/oz next week with key inflation and consumer data on the docket
The latest Kitco News Weekly Gold Survey showed industry experts firmly back in bullish territory, while retail traders maintained their renewed bullish bias on gold’s near-term prospects.
Read moreNext week’s CPI, PPI, retail sales, and consumer sentiment could cement rate cuts and boost gold
(Kitco News) – While this week was a lean one for economic data, precious metals traders still had plenty of market-moving events – the unscheduled kind. Gold prices were already trading in positive territory when news broke on Thursday afternoon that some gold bar imports from Switzerland would be subject to trade tariffs – with Switzerland’s recently announced 39% tariff rate among the highest the Trump administration has imposed.
Read moreChina’s central bank adds 2 tonnes of gold to reserves in July, but FX holdings fall $25 billion
(Kitco News) – China’s central bank added to its gold reserves once again in July, but its overall foreign exchange holdings fell as the USD strengthened, according to official data released on Wednesday.
Read more‘A gold tax masquerading as a customs ruling’ – Experts react to shock U.S. gold tariffs
(Kitco News) – The global gold market is reeling at the implications of yesterday’s shocking revelation that the United States has imposed import tariffs on gold bars from Switzerland.
Read moreGold price up amid uncertainty regarding U.S. tariffs on bullion
(Kitco News) – Gold prices are higher but well down from overnight highs that saw December gold hit a three-month peak, amid reports the U.S. is putting levies on gold bars.
Read moreBitcoin August 8 daily chart alert – Bulls having a good week
(Kitco News) – Friday, August 8—August bitcoin futures prices are weaker in early U.S. trading Friday, on a mild downside correction from gains scored Wednesday and Thursday.
Read moreGold Market Analysis for August 8 – Key Intra-day Price Entry Levels for Active Traders
(Kitco News) – This 5-minute bar chart for Comex gold futures can be a valuable analytical and trading tool for the active intra-day gold futures trader/market watcher.
Read moreShock U.S. tariffs on Swiss gold bars send gold price rocketing through $3,400/oz
(Kitco News)- The United States has imposed import tariffs on gold bars from Switzerland, the Financial Times reported late Thursday afternoon. According to a letter from Customs Border Protection dated July 31st, 1 kilogram and 100 ounce gold bar…
Read moreIs revaluation of central bank gold reserves the answer? Federal Reserve economist analyzes five cases and their impacts
(Kitco News) – The track record of revaluing gold reserves to address monetary or fiscal challenges is mixed, with the countries that needed it the most seeing the least sustained impact while the countries that used it most judiciously didn’t need it at all, according to new research by Colin Weiss, principal economist for global financial flows at the Federal Reserve.
Read moreStretched traders will pay the price when volatility returns with a vengeance – LPL Financial’s Kerr
(Kitco News) – Volatility across major asset classes is unusually low, and investors and traders who stretched their positions during this period of calm could pay a heavy price when it inevitably returns, according to Kristian Kerr, head of macro strategy at LPL Financial.Kerr noted that while financial market volatility is commonly seen as a broad measure of risk, its role has evolved in recent years.
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