Gold price sees two-sided trade after widely expected Fed rate cut
(Kitco News) – Gold prices have traded both sides of unchanged in afternoon U.S. dealings Wednesday, following a U.S. central bank interest rate reduction that was widely expected by the marketplace.
Read moreThe Fed should actually raise rates to counter economic and political damage, but it won’t – Barchart’s Newsom
(Kitco News) – The Federal Reserve should disregard the President’s wishes and market expectations and hike rates at today’s meeting – tamping down inflation while pushing back on political interference – but it will most likely succumb to both and deliver a 25-basis-point cut, according to Darin Newsom, senior market analyst at Barchart.com.
Read moreGold always rallies when the Fed cuts rates in a stubborn inflationary environment – Bank of America
(Kitco News) – Even with some selling pressure, the gold market has managed to stand its ground, with prices remaining near recent all-time highs and within striking distance of $3,700 an ounce.
Read moreChina’s gold market saw ETF liquidations and low futures volumes in August as stocks surged, but jewelry sales and imports rebounded – World Gold Council
(Kitco News) – China’s gold market saw liquidations in physical stocks and ETFs and declining futures volumes as investors booked bullion profits to rotate into surging stocks, but a rebound in jewelry demand and an uptick in imports combined with the ongoing price rally bode well for investment demand, according to Ray Jia, Research Head, China at the World Gold Council (WGC).
Read moreNext crisis won’t be like 2008, it will be a ‘loss of confidence in the US government’ – Peter Schiff
(Kitco News) – As gold surged to a new record and silver hit a 14-year high Tuesday, economist Peter Schiff warned that the Federal Reserve is on the verge of making its “biggest error yet,” a move he believes will accelerate a crisis of confidence in …
Read moreGold market recovering against Canadian dollar after BoC cuts interest rates to 2.50%
(Kitco News) – The gold market continues to experience technical profit-taking against the Canadian dollar, even as the Bank of Canada cuts interest rates and shows less concern about inflation.
Read moreSocGen takes 10% maximum gold position ahead of new Fed easing cycle
(Kitco News) – One major investment bank is looking to increase its exposure to gold as a protective hedge, as the Federal Reserve prepares to restart its easing cycle even while inflation pressures remain elevated.
Read moreSpot gold rises to $3,673/oz after U.S. housing starts fall -8.5% in August
(Kitco News) – Gold prices are rising this morning after the latest data showed the U.S. housing market declining more than expected last month.Housing starts fell -8.5% in August to a seasonally adjusted annual rate of 1.307 million units, the Commerce Department announced on Wednesday. The data was far worse than expected as economists looked for a decrease of -3.4% to 1.370 million units. July’s number was revised to 1.429 million units.
Read moreProfit-taking price pressure on precious metals as U.S. rate cut looms
(Kitco News) – Gold and silver prices are solidly lower in early U.S. trading Wednesday, on profit taking from the shorter-term futures traders after gold hit a record high and silver a 14-year high on Tuesday.
Read moreBitcoin September 17 daily chart alert – Price pokes to 3-week high
(Kitco News) – Wednesday, September 17–September bitcoin futures prices are a bit weaker in early U.S. trading Wednesday, after poking to a three-week high overnight.
Read more