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Gold firmer but loses altitude as USDX bond yields spike up

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Gold firmer but loses altitude as USDX, bond yields spike up

Gold prices are posting modest gains in midday U.S. trading Thursday but the bulls are fading fast after solid early gains have been erased. The precious metals markets are being buffeted today by strong gains in the U.S. dollar index and a big spike up in U.S. Treasury yields. June gold futures were last up $5.70 at $1,874.30 and May Comex silver was last down $0.037 at $22.33 an ounce.

Traders Thursday were still digesting the Federal Reserve move Wednesday afternoon to raise its key interest rate, the Fed funds rate, by 0.5%, which was expected by the marketplace. After some initial exuberance by the marketplace that the Fed was becoming less hawkish on U.S. monetary policy, traders and investors came to their senses and realized nothing has changed: the Fed will have to remain aggressive and hawkish in its fight to tame inflation that is presently still out of control.

The key outside markets today sees Nymex crude oil futures prices down and trading around $107.00 a barrel after trading above $111.00 earlier today. The U.S. dollar index is solidly higher at midday and hit a new 20-year high. The yield on the 10-year U.S. Treasury note is presently fetching 3.082%, which is a 3.5-year high. It’s been quite a while since Treasury bond futures prices were down over 3 full points in a day.

Gold remains on track as Federal Reserve lays out path for 50-bps rate hikes – State Street's Milling-Stanley

Global stock markets were mixed overnight, with European shares mostly up and Asian shares mostly down. U.S. stock indexes are sharply lower at midday and have taken back all of Wednesday’s big gains and then some. The keener risk aversion in the marketplace should keep a floor under the safe-haven metals prices at their present levels.

The Bank of England is at its regular monetary policy meeting raised its interest rate by 0.25%. The BOE raised its annual inflation forecast significantly, to 10.25%. A rate hike was expected but the inflation forecast was a surprise on the upside.

Traders and investors are now awaiting Friday morning’s U.S. employment situation report for April. The key non-farm jobs number in the report is expected to come in at up 400,000, which compares to a rise of 431,000 in the March report.

Technically, June gold futures see a downtrend is place on the daily bar chart. Bears have the overall near-term technical advantage. Bulls' next upside price objective is to produce a close above solid resistance at last week’s high of $1,935.50. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at $1,900.00 and then at today’s high of $1,910.70. First support is seen at Wednesday’s low of $1,861.10 and then at this week’s low of $1,849.70. Wyckoff's Market Rating: 4.0

May silver futures see a steep price downtrend in place on the daily bar chart. The silver bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $24.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the December low of $21.445. First resistance is seen at $23.00 and then at today’s high of $23.245. Next support is seen at Wednesday’s low of $22.135 and then at this week’s low of $22.12. Wyckoff's Market Rating: 2.5.

May N.Y. copper closed down 495 points at 427.90 cents today. Prices closed near the session low today. The copper bears have the firm overall near-term technical advantage. A price downtrend is in place on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 450.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the December low of 411.65 cents. First resistance is seen at Wednesday’s high of 438.55 cents and then at today’s high of 442.00 cents. First support is seen at Wednesday’s low of 424.00 cents and then at this week’s low of 419.00 cents. Wyckoff's Market Rating: 3.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

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HOW TO OPTIMIZE YOUR EMAIL MARKETING CAMPAIGNS

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HOW TO OPTIMIZE YOUR EMAIL MARKETING CAMPAIGNS

 

Since the dawn of social media marketing, it’s been purported that email marketing will cease to be of any value as a marketing strategy. On the contrary, email continues to be one of the most popular digital channels that marketers can use to communicate with customers and subscribers, bringing in significant ROI for businesses worldwide. 

According to Statista, daily email users will climb to 4.6 billion by 2025. Despite the growth and prominence of mobile messengers and chat apps, e-mail is an integral part of everyday online life. Email is a great way to connect with busy clients on the move, eating breakfast, commuting, at work, in bed, or just about anywhere with billions of users per day.

Furthermore, the number of emails sent and received globally has increased since 2017. While roughly 319.6 billion emails were estimated to have been sent and received each day in 2021, this figure is expected to increase to over 376.4 billion daily emails by 2025.

Email Marketing

Email marketing has managed to defy its predicted demise and remain central to digital communication, and continues to grow in acceptance. Notably, email has seen higher click-through rates than social media regarding online advertising.

Past studies and marketing statistics have found that 4.24% of visitors from email marketing will make a purchase compared to only 2.49% of visitors from search engines and 0.59% from social media. 

The email has been around for decades, and the concept of email autoresponders as a strategic marketing tool was invented by the Founder and CEO of Markethive, Thomas Prendergast. He subsequently refined and established the system and the concept of Automated Marketing which we now call Inbound Marketing.

 

Optimize Your Email Campaigns

As the number of emails sent and received each day increases globally, data experts agree that more than 120 business and consumer emails are sent and received by the average person. It would be fair to say not all those emails are read or even opened. 

Given the statistics above, it's crucial to reevaluate your email marketing campaigns periodically and look for ways to make your emails stand out. To capture your recipient’s attention, you need to craft an intriguing subject line, purposeful salutation, and opening sentence.

Almost two-thirds (59%) of B2B marketers say email is the most effective channel, and marketing through email is the most effective tactic. The same group of B2B marketers surveyed claimed there are some dynamic tactics they can take to make their emails even more effective. 

For example, according to Experian, 56% of email marketers who use emojis in their subject lines have a higher open rate. When used in subject lines, emojis stand out and separate your email from the mountains of other emails. 

 

 

Adding emojis to headlines started in 2015 and has become more prevalent in subsequent years. Studies have shown that emotional content can increase the effectiveness of a marketing campaign by as much as 70%. Emojis show a facial expression related to the message conveyed or an icon related to the product or brand.

Emojis help break the language barrier as they generally hold the same meanings. They also create a more visual element and can retain your customer's attention. They can generate urgency or trigger emotions when used in a subject line, particularly for B2C.

Be sure to keep it relevant to your email subject and not overdo the number of emojis. More than two will look spammy and can put people off. You will need to discern what works for your brand and audience. In some cases, emojis might not be the best option. 

Industries considered serious like law, accounting, and B2B may see it as unprofessional. However, your industry shouldn’t dictate what may work for your emails. Many emojis could be suitable, like calculators, clip boards, stop signs or dollar symbols, etc. There are many options to find the right emojis for your company.  

Appboy conducted a poll and found that people enjoy emojis in general. More than 64% like or love emojis, compared to only 6% who dislike them. Consumers are exposed to emojis regularly in their everyday life: 87% use them in their texting and messaging, and 68% receive a message with emojis from friends or family once a day or more.

The good news for marketers is that 39% of participants thought the emoji touch in emails from brands was fun. Although there has been a steady rise in emoji-focused email campaigns, 60% said they received emails from brands only once a month, and 35% have never received an emoji campaign. 

 


Image source Optinmonster

 

Tips For Using Emojis In Your Email Marketing

  • Use sites such as Emojispedia to find emojis. Simply copy and paste the emojis you want to use in your email subject line.
  • Don’t use emojis just for the sake of using them. Make sure the emojis are relevant to your audience.
  • When using emojis, tone and context do matter. Use emojis that complement your message.
  • Ensure your audience responds well to emojis before sending them in emails to all your subscribers. A/B test emails with and without emojis allow the difference in open rate to help you determine what is working.
  • Finally, don’t go overboard. While emojis are fun to use, it’s easy to overdo them. Maybe just reserve them for special occasions.

By using emojis in the correct context, you could create the top email subject lines in your industry. Not only do emojis capture interest, but they can boost your email's response rate, too.

 

Why Are Engaging Email Introductions Important?

Now that we’ve caught the recipient's attention with a fetching and novel subject line, a robust email introduction encourages your reader to continue scanning the body of your message. 

The best emails have an engaging greeting and opening sentence that secures the recipient’s interest and buy-in. Ideally, a captivating introduction ultimately leads readers to take action. 

A thoughtful email opening sentence is helpful when asking recipients to:  

  • Click on a link
  • Respond to a question
  • Participate in a survey
  • Provide additional clarity
  • Review a document or other information
  • Provide business-related support
  • RSVP

A compelling opener sets the tone for your message, and it can also entice recipients to spend more of their time with the message and help your email sidestep the terrible “trash bin.”

 

Six Strong Ways To Start An Email

Below is a list of email greetings and opening sentences that keep recipients and their time a priority.

Appropriate Salutations

1. Dear %%Name%%
This email greeting is an appropriate salutation for formal email correspondence. It’s typically used in cover letters, official business letters, and other communication when you want to convey respect for the recipient. Personalization can improve open rates by up to 26%

Although honorifics like “Mr.” and “Mrs.” were once accepted, they risk misgendering or erroneously assuming the reader’s marital status. So, just use either first name or full name to be on the safe side.

2. Hi or Hello
As far as email greetings go, an informal “Hi” followed by a comma is acceptable in most work-related messages. If a slightly more formal tone is preferred, consider the salutation “Hello.” 

Although this is considered an informal greeting, it also conveys a straightforward and friendly tone.

3. Greeting A Group Of People
When writing an email message to two or more people, you have a few options. “Hi everyone,” “Hi team,” or “Hi %%department name%% team” are informal yet professional ways to greet a group of people.

They also avoid gender-specific addresses to a group, like “Hi guys,” “Hi ladies,” or “Gentlemen,” which might not accurately describe the recipients.

Engaging Email Opening Sentences

4. I hope your week is going well, or I hope you had a lovely weekend
These are effective email opening sentences because they acknowledge your reader first and help build rapport with a colleague you already know or with whom you want to develop a friendly working relationship. 

5. I’m reaching out about . . . 
Beginning an email with “I’m reaching out about . . . ” is polite and direct and clarifies the purpose of the email. With hundreds of email correspondences transmitted in a single business day, this approach shows you’re being conscientious about the recipient’s time by getting straight to the point.

Stating your intent also avoids miscommunication or confusion about what you need from the reader. 

6. Thanks for . . . 
Expressing gratitude is another way to put the reader first. If the email you’re writing is in response to an email or action by the recipient, acknowledging that at the start builds on workplace companionship.

 

Six Ways Not To Begin An Email

The salutations and opening sentences below carry a stiff tone and, in some cases, suggest a careless approach. If your goal is to come across as genuine and thoughtful, it’s best to avoid these phrases. 

Salutations To Avoid

1. To whom it may concern
Although “To whom it may concern” seems like a professional salutation, it’s impersonal and overused. It suggests that you didn’t care to confirm who your recipient is or whether your message pertains to them.
This also applies to the email greeting, “Dear Sir or Madam.” In this case, the gender-binary greeting is dated and could be considered noninclusive.

2. Hi %%Misspelled Name%%
Confirm that you've used the correct spelling when using the recipient’s name in an email salutation. Typos happen, but misspelling a person’s name sends a red flag that you didn’t write your message with care or attention to detail. 

3. Dear %%ENTER NAME HERE%%
Misspelling a recipient’s name in an email greeting should be avoided, as should another salutation blunder: entirely forgetting to enter their name into a prewritten template.

Using an email template without any personalization in the hope of captivating your reader will likely be ineffective. If you must use a templated message for efficiency, always double-check that you’ve changed any placeholders in the salutation with the recipient’s correctly spelled name. 

Opening Sentences To Avoid

4. Can you do me a favor?
When you don’t know the recipient and email them for the first time, an opening sentence like “Can you do me a favor?” can feel abrupt and has a self-serving tone. 

Instead, consider an email opening sentence that concisely explains the problem you’re hoping to solve with their assistance, like “I’m reaching out about . . . ”

5. I know you’re busy, but . . . 
This email introduction, at best, assumes the reader’s time is precious. At worst, it suggests that you’re aware of that fact, but you deserve their attention nonetheless. 

Regardless of your relationship with the reader, avoid this introductory sentence and briefly explain why you’re messaging them.

6. Let me introduce myself
This email opener is typically used for email recipients for the first time. Beginning an email with “Let me introduce myself” is like narrating your introduction, and it sounds declarative but wastes time. Instead, cut to the chase. 

Additional tips for an engaging email introduction

  • Know your audience. The email salutation and opening sentence for your message should reflect your relationship with the audience. Consider whether you’re writing for a client, a professional acquaintance, or a close colleague. 
  • Make your purpose clear. When the purpose of your email is unclear, it can leave the reader confused or frustrated. To avoid missing this critical factor, try incorporating the intention of your email into the opening sentence.

It’s essential to realize what you need to do to get the attention of your customers when their inboxes are already saturated with messages. Take the time to think about improving your email marketing strategy to ensure your emails rise above the clutter.

Markethive – The Holistic Approach

Email marketing is the undisputed leader in terms of ROI. From a marketing perspective, the statistics on reach and engagement show email open rates are generally 20-30%, unlike the organic reach on Facebook at only 2-6%. (i.e., the number of your fans who see your posts in their Newsfeed)

Likewise, click-through rates (CTR) from email are generally in the 3% range, while CTR on LinkedIn is in the 0.6% range. However, email marketing is not in competition with social media, nor are they separate entities. Combined, they offer a more holistic approach and provide a seamless experience for customers. 

Markethive offers a comprehensive, inclusive platform integrating a social interface, remote broadcasting to other social media and digital sites, and inbound marketing mechanisms that bring brands and customers together. 

Email delivery is a top priority at Markethive and a powerful aspect of our inbound marketing system. It has earned the reputation of producing an emailing system that delivers your messages to 97% of your recipients’ accounts with 100% delivery to their INBOX.

The Markethive email autoresponder system is free when you join Markethive and is built for beginners through to Entrepreneurs and Business Owners at any level. There are no limitations on the amount or size of your list of subscribers and no upcharges. 

Email reaches your customers one-on-one, and the social aspect of Markethive is ideal for driving customers as communities. Markethive has paired them together for the most effective and dynamic marketing strategy.

 

What’s Coming To Markethive? 

The current email autoresponder in Markethive sends a series of emails out linearly. Segments are sequenced to be delivered every day, alternate day, or whatever day you choose when configuring your email campaign. 

The great news is that we have an alternative new email system being developed, consisting of more in-depth programming that will make the delivery of your emails more dynamic and intuitive. The program will identify what emails were opened and send out the following email aligned with the first email. 

The recipient's actions within that email will determine which type of email will subsequently be delivered to them. If the email is not opened, it will not follow up with a second email. So the system will fork off the original email depending on any given outcome. 

The report on your email delivery will have more concise data displaying how many overall emails went out, how many were delivered, how many were opened, and how many bounced back as rejected due to errors in the address or full inbox issues. 

The whole purpose behind this is not to spam people or hit them with messages they don’t want but to produce quality material that helps educate people and those looking for answers to their particular problems through systems like this.  By using these methods, you establish authority, and the credibility that your sphere of influence you create will appreciate what you are doing.

You will be able to keep using Markethive’s original autoresponder; you will now just have a choice.

For all the latest updates on what’s happening in Markethive, come to our weekly meetings on Sundays at 10 am Mountain time. The link to the meeting room is in the Markethive calendar. 

See you there and God Bless You 

 

 

Tim Moseley

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Gold sees modest rally following mildly dovish FOMC statement

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Gold sees modest rally following mildly dovish FOMC statement

Gold prices are steady to firmer in early afternoon U.S. dealings Wednesday, supported by the conclusion of the U.S. central bank meeting this afternoon that was deemed just a bit dovish. Gold prices were modestly down just prior to the FOMC statement's release. June gold futures were last up $1.50 at $1,871.80 and May Comex silver was last down $0.136 at $22.46 an ounce.

The just-released data point of the week, the U.S. Federal Reserve Open Market Committee (FOMC) meeting statement, saw the Fed raise the key U.S. interest rate, the Fed funds rate, by 0.5%. The Fed funds range is now 0.75% to 1.0%. The rate hike is the first 0.5% increase in 22 years and comes amid the highest U.S. inflation levels in 40 years. The statement said the Fed will continue to raise interest rates as appropriate. The FOMC statement said that starting June 1 the Fed will begin to reduce its balance sheet of securities by $95 billion per month. The Fed also said the Russia-Ukraine war, rising Covid cases in China and supply chain bottlenecks are the main causes for rising inflation. The marketplace's initial read on the statement is a bit dovish on U.S. monetary policy. Others might argue that the statement was just less hawkish than previous recent remarks from Federal Reserve officials. As of this writing, traders were awaiting Fed Chairman Jerome Powell's press conference.

A Barron's headline this morning read: "The Fed's big hikes won't fight inflation from soaring oil prices." The article argues that central banks can only control the demand side of the economic equation by raising interest rates — not the supply side.

Commodities at risk of reversing massive gains with 'wild run' similar to 2008, gold price to take on $2k – Bloomberg Intelligence

Global stock markets were mostly lower overnight. U.S. stock indexes are higher in early-afternoon trading. The European Union has proposed a phased-in ban on Russian crude oil imports and that has crude oil prices sharply higher at mid-week. The key outside markets today sees Nymex crude oil futures prices are trading around $107.30 a barrel. Meantime, the U.S. dollar index is a bit weaker in early afternoon trading. The yield on the 10-year U.S. Treasury note is presently fetching 2.981%. The 10-year yield early this week briefly hit a 3.5-year high just above 3%.

Technically, June gold futures see a three-week-old price downtrend in place on the daily bar chart. Bears have the overall near-term technical advantage. Bulls' next upside price objective is to produce a close above solid resistance at last week's high of $1,935.50. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at $1,883.00 and then at $1,900.00. First support is seen at this week's low of $1,849.70 and then at $1,835.00. Wyckoff's Market Rating: 4.0

May silver futures see a steep price downtrend in place on the daily bar chart. The silver bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $24.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the December low of $21.445. First resistance is seen at this week's high of $22.83 and then at $23.00. Next support is seen at this week's low of $22.12 and then at $22.00. Wyckoff's Market Rating: 2.5.

May N.Y. copper closed up 540 points at 432.50 cents today. Prices closed near the session high today. The copper bears have the firm overall near-term technical advantage. A price downtrend is in place on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 450.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the December low of 411.65 cents. First resistance is seen at Tuesday's high of 434.40 cents and then at this week's high of 438.55 cents. First support is seen at today's low of 424.00 cents and then at this week's low of 419.00 cents. Wyckoff's Market Rating: 3.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

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Foods for people with uptight nerves

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Best foods for people with uptight nerves

In today's wild times few people remain calm and perfectly balanced.
We are being attacked on all sides by unfavorable news and often also conflicting information and it is difficult to focus on the daily balance in our lives.
Each of us has some bad habits. If you are annoyed that you will jump up  because of every stupidity, or on the contrary, you tend to sadness and crying (yes,that is about us, ladies..:-), try to work with your nature. Surprisingly, it also goes from the inside, ie by adjusting what you eat.
Are you a choleric who is not far from quarrels, or rather a melancholy bundle of nerves? You probably know your nature and you already know a little how to control yourself. But if you are under long-term pressure, your art of self-control can fall apart quickly.

Chocolate wins
A lot of people when stressed take chocolate. You can really feel better after eating it, but choose well. A pile of sugar is more of a fuel for stress, only chocolate with a high proportion (at least 70%) of cocoa can strengthen nerves. It contains anandamide which increases resistance to stress, can improve mood, memory and sleep. It is also a stress-beater thanks to calcium and magnesium, and caffeine and theobromine also stimulate the mood. All these substances then help to produce serotonin, the hormone of happiness.

The tea calms down (- ask the Englishmen about their favourite cup of tea)
Black or green teas contain tein, which has caffeine-like stimulant effects in coffee. At the same time, they contain antioxidants that can relieve tension in the body. That's why the samurai indulged in a tea ritual before the fight. If you are exposed to extreme stress, anxiety or depression, tea will help you regain mental stability. Researchers are even studying the effects of green tea antioxidants in treating post-traumatic stress disorder.

Quality fats drive away depression
Necessary for your functioning both physically and mentally are omega 3 and 6 fatty acids, which the body cannot create on its own and needs to obtain from food. Foods rich in omega 3 mainly include fish such as salmon, tuna or mackerel. But you can also find them in walnuts, flax and chia seeds or in whole milk.

Nuts get rid of aggression
You can add seeds and nuts to the breakfast porridge, smoothie, homemade pastries and salad. They represent a cocktail of nutrients: omega 3 fatty acids, potassium, magnesium or zinc. Almonds, pistachios and pumpkin seeds are guaranteed to help you improve your mood. If you know that you have a busy day ahead of you, mix this mixture as a healthy snack. For example, it contains L-tryptophan, which helps against bad moods and mild aggression.

Dark green vegetables beat long-term stress
Arugula, spinach, chard, but also dandelion leaves contain high amounts of vitamins and minerals, which contribute to the heart and immunity. However, dark green leafy vegetables also benefit people with depression or under the influence of long-term stress, thanks to folic acid.

Chilli will drive away autumn spleen
If spleen falls on you from the gray autumn days, include chilli in your diet. It warms up, supports metabolism and immunity, but it is also a recipe for happiness. This is due to capsaicin, which promotes the production of the fortune hormones serotonin and endorphin. Bet on other thermogenic foods such as garlic or cinnamon.

Dried fruits for better sleep
Cherries, blueberries or figs will also help to relax and calm. It doesn't matter if you don't get fresh fruit, the dried fruit also retains nutrients. It supplements potassium, calcium, magnesium and prized antioxidants, which also help you sleep better.

* * * * *

And what say Czechs about their experience ?

      Home made noodles with poppy seed mixed with sugar,richly greased
         Bread with lard,onion or garlic
            and first of all – for good sleep – beer (hops is also included in tablets sold for sleep support)

 

                         Wishing you strong nerves and good sleep

                                                                                        Margaret

 

Tim Moseley

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Gold silver see tepid short covering after recent losses

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Gold, silver see tepid short covering after recent losses

Gold and silver prices are firmer in midday U.S. Trading Tuesday. Short covering by the shorter-term futures traders was feature today after both metals hit 2.5-month lows on Monday. The bulls are trying to stop the bleeding in down-trending markets that have been punished by a strong U.S. dollar and rising bond yields. June gold futures were last up $7.50 at $1,871.10 and May Comex silver was last up $0.101 at $22.65 an ounce.

The economic data point of the week in the U.S. Federal Reserve Open Market Committee (FOMC) meeting that began Tuesday morning and ends Wednesday afternoon with a statement. It's widely believed the Fed will raise the key U.S. interest rate by 0.5%, amid the highest inflation levels in 40 years. The monthly U.S. jobs report is also due out Friday morning.

The key outside markets today sees Nymex crude oil futures prices lower and trading around $103.00 a barrel. The U.S. dollar index is weaker in early trading. The yield on the 10-year U.S. Treasury note is presently fetching 2.954%. The 10-year yield early this week hit a 3.5-year high just above 3%. The yield on the benchmark German 10-year bond (bund) rose above 1% for the first time since 2015.

Global stock markets were mostly higher overnight. U.S. stock indexes are mixed at midday. The Nasdaq and S&P stock indexes are near their 12-month lows scored Monday. A brief "flash crash" occurred in European stock markets Monday, reportedly on an erroneous trade entered by a Citigroup in Sweden.

Paul Tudor Jones: 'Capital preservation is the most important thing' right now

In other, the Euro zone producer price index for March was up 5.3% from February and up 36.8%, year-on-year. The mammoth rise was mostly due to soaring energy costs, but still, excluding energy the PPI was up 13.6%, year-on-year.

Australia's central bank overnight raised its key interest rates by 0.25%–the first rate hike by the Reserve Bank of Australia in a decade.

Technically, June gold futures See a price downtrend still in place on the daily bar chart. Bears have the overall near-term technical advantage. Bulls' next upside price objective is to produce a close above solid resistance at last week's high of $1,935.50. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at today's high of $1,878.40 and then at $1,883.00. First support is seen at today's low of $1,849.70 and then at $1,835.00. Wyckoff's Market Rating: 4.0

May silver futures see a steep price downtrend in place on the daily bar chart. The silver bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $24.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the December low of $21.445. First resistance is seen at Monday's high of $22.83 and then at $23.00. Next support is seen at today's low of $22.475 and then at this week's low of $22.12. Wyckoff's Market Rating: 2.5.

May N.Y. copper closed up 70 points at 426.25 cents today. Prices closed nearer the session low today. Prices Monday hit a 4.5-month low. The copper bears have the solid overall near-term technical advantage. A price downtrend is in place on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 450.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the December low of 411.65 cents. First resistance is seen at today's high of 434.40 cents and then at this week's high of 438.55 cents. First support is seen at this week's low of 419.00 cents and then at 415.00 cents. Wyckoff's Market Rating: 3.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

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Putin signed retaliatory sanctions

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Putin has signed a regulation on retaliatory sanctions

(fresh news from today 3rd May 2022)

Russian President Vladimir Putin has signed a regulation imposing retaliatory sanctions in response to "hostile action by some countries and international organizations," TASS reports. It is not yet clear who the sanctions will apply to. The Russian government is to draw up a list of sanctioned persons within ten days.
A number of countries and organizations, including the United States and the European Union, have adopted a series of sanctions against Russia after Moscow launched a war in Ukraine at the end of February.
The decision on retaliatory sanctions was taken "in connection with hostile acts contrary to international law by the United States and other countries and international organizations that join them," TASS was quoted as saying.

Although the Russian government does not yet have a list of sanctioned persons, the document enters into force as of Tuesday 3rd May 2022.
The European Union has so far approved five packages of unprecedented economic sanctions targeting, among other things, Russian banks, transport, industry or the export of important products and raw materials, including coal. A possible energy embargo is currently being discussed. Sanctions similar to the European bloc have also been imposed by the US or Britain.

 

 

                Thanks for reading

                                                     Margaret

Tim Moseley

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Gold silver smacked by strong USDX rising bond yields technical selling

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Gold, silver smacked by strong USDX, rising bond yields, technical selling

Gold and silver prices are sharply lower in midday U.S. Trading Monday, with both scoring 2.5-month lows. The precious metals are getting hit early this week by the bearish outside market forces of a strong U.S. dollar index that is near a 20-year high, higher U.S. Treasury yields and chart-based selling pressure as the near-term technical have eroded significantly the past two weeks. June gold futures were last down $42.50 at $1,869.40 and May Comex silver was last down $0.42 at $22.62 an ounce.

The economic data point of the week in the U.S. Federal Reserve Open Market Committee (FOMC) meeting that begins Tuesday morning and ends Wednesday afternoon with a statement. It’s widely believed the Fed will raise the key U.S. interest rate by 0.5%, amid the highest inflation levels in 40 years. The monthly U.S. jobs report is also due out Friday morning.

The key outside markets today sees Nymex crude oil futures prices slightly lower and trading around $104.50 a barrel. The U.S. dollar index is solidly higher today and not far below last week’s 20-year high. The yield on the 10-year U.S. Treasury note is presently fetching 2.99%–the highest in nearly 3.5 years.

Global stock markets were mostly lower overnight. Markets in China and Hong Kong were closed for a holiday. U.S. stock indexes are mixed at midday. The U.S. stock indexes are trying to recover from April’s losses, which were the worst since the beginning of the pandemic.

Gold is an 'ideal' asset right now but why isn't the price higher? Fidelity weighs in

Three major elements in the marketplace remain static but still prompting risk aversion among traders and investors: the Russia-Ukraine war, the Covid outbreak in China and problematic inflation around the globe.

China’s strict lockdowns to curb Covid-19 cases are taking a toll on the world’s second-largest economy and further disrupting global supply chains. China President Xi Jinping is under pressure to deliver on pledges to support economic growth. China’s manufacturing and services purchasing managers indexes (PMI)in April plunged to their worst levels since February of 2020.

Technically, June gold futures prices hit a 2.5-month low today. A price downtrend is in place on the daily bar chart. Bears have the overall near-term technical advantage and gained more power today. Bulls' next upside price objective is to produce a close above solid resistance at last week’s high of $1,935.50. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at $1,883.00 and then at $1,900.00. First support is seen at today’s low of $1,853.40 and then at $1,800.00. Wyckoff's Market Rating: 4.0

May silver futures prices hit nearly three-month low today. A steep price downtrend is in place on the daily bar chart. The silver bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $24.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the December low of $21.445. First resistance is seen at today’s high of $22.83 and then at $23.00. Next support is seen at today’s low of $22.12 and then at $22.00. Wyckoff's Market Rating: 2.5.

May N.Y. copper closed down 1,415 points at 425.35 cents today. Prices closed nearer the session low today and hit a 4.5-month low. The copper bears have the solid overall near-term technical advantage. A price downtrend is in place on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 450.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the December low of 411.65 cents. First resistance is seen at 430.00 cents and then at today’s high of 438.55 cents. First support is seen at today’s low of 419.00 cents and then at 415.00 cents. Wyckoff's Market Rating: 3.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

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Bitcoin Is A Liquid Alternative To Cash’ Says Elon Musk’s Tesla

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Bitcoin Is ‘A Liquid Alternative To Cash’ Says Elon Musk’s Tesla

by Shawn Amick 

 

In a recent SEC filing, Tesla explained bitcoin’s liquidity use case while outlining its “long-term potential.”

  • In a recent SEC filing, Tesla doubled-down on its bitcoin investment as “a liquid alternative to cash” thesis.
  • Tesla experienced a rocky path from buying bitcoin, to accepting it as payment, and later removing it as a payment method over environmental concerns.
  • Tesla also recently entered the bitcoin mining space.

In a recent U.S. Securities and Exchange Commission (SEC) filing, Tesla Inc. reiterated its pro-Bitcoin position stating that bitcoin has “long-term potential” and is “a liquid alternative to cash.”

The filing also confirmed that the electric car maker did not sell any of its bitcoin holdings since the quarter prior.

During the first quarter of 2021, Tesla invested an aggregate of $1.5 billion in bitcoin, per an SEC filing at the time. Within that filing, Tesla provided information explaining how the investment would “provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.”

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Tesla also stated its intentions to accept bitcoin as a means of payment for goods and services in the future in the Q1 2021 filing. News of the investment spread across all forms of media and Elon Musk, the company’s CEO, became more active in discussions involving bitcoin.

On April 26, 2021 the initial investment for means of liquidity was strengthened when Musk took to Twitter in order to defend Tesla’s choice to sell 10% of its bitcoin holdings during Q2 2021 stating:

“Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet,” he wrote.

The SEC filing referencing the aforementioned sale netted Tesla a gain of $128 million. However, in June 13, 2021 Musk capitulated to market environmental concerns as he stated bitcoin needed to use more clean energy, thereby removing the option to receive bitcoin as payment until there was verifiable information showing “confirmation of reasonable (~50%) clean energy usage by miners with positive future trend,” he said.

On October 14, 2021 it was reported that Tesla was up over $1 billion on its initial investment into bitcoin. More recently, April 8, 2022 Tesla announced a partnership with BlockStream and Block, noting that Tesla energy equipment would be leveraged for a $12 million bitcoin mining facility.

In full circle, Tesla entered the bitcoin ecosystem with a massive $1.5 billion BTC buy, took action for the environment as it believed was necessary, held its BTC reserves, and returned to the ecosystem as a clean bitcoin mining participant.

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Tim Moseley

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Traditions in month of May

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Traditions in month of May smiley

The month of May has many traditions. Spring is in full swing, nature is a great inspiration, the weather in the northern hemisphere is nicer and more stable.
On the first of May, the woman is to be kissed under a flowering tree, otherwise she will dry within a year. Yes, the woman. Maybe the tree as well ?
But don't despair, you can catch up in the next few days, a kiss under a blossoming cherry or apple tree will always please and enliven.
From Wikipedia:
A maypole is a tall wooden pole erected as a part of various European folk festivals, around which a maypole dance often takes place.
Sometimes the erection of a maypole is associated with great feasting and celebration with dancing.

Maypole  is the designation of an ornate tree trunk that forms a central element of the spring festivities spread throughout most of Europe. The maypole is most often built on April 30 or May 1, but in some areas it is built during the feast of St. George, Pentecost or most often the summer solstice. Mayas = maypoles  are traditionally renewed every year, this was also the case in the original form of the festivities, but somewhere they change over time, for example in England or Bavaria. In some cases the maypole is a permanent feature that is only utilised during the festival, although in other cases it is erected specifically for the purpose before being taken down again.


Origin

Primarily found within the nations of Germanic Europe and the neighbouring areas which they have influenced, its origins remain unknown. It has often been speculated that the maypole originally had some importance in the Germanic paganism of Iron Age and early Medieval cultures, and that the tradition survived Christianisation, albeit losing any original meaning that it had. It has been a recorded practice in many parts of Europe throughout the Medieval and Early Modern periods, although it became less popular in the 18th and 19th centuries.
The symbolism of the maypole has been continuously debated by folklorists for centuries, although no definitive answer has been found.
The Czech maypole (máj, májka in Czech language) has the form of a whole tree, deprived – with the exception of the upper part – of branches and bark. In some cases, the bare trunk is left to stand for several years and only the upper part is changed, in other cases it consists of two or three interconnected trunks to achieve greater height. The tree used is most often conifers such as spruce, but you can also find a birch lighthouse. The upper part is decorated with ribbons made of fabric or crepe paper and a decorated wreath is hung on it. The building of May is associated with the habit of its night guard, according to customs, it is usually until sunrise or the first rooster crowing, in front of men from neighboring villages who are trying to beat it or cut off its top. If they succeed, it is a great disgrace for the village.

Celebrating also with folklore dancing, South Moravia

   Ickwell maypole
 


Poet Jonathan Swift in his poem "A Maypole" describes a maypole as:

Deprived of root, and branch, and rind,
Yet flowers I bear of every kind:
And such is my prolific power,
They bloom in less than half an hour;

 

May you happy stay

the whole month of May 

Margaret
 

Tim Moseley

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A massive destruction of wealth is coming this is what the Fed is ‘engineering’ – Alfonso Peccatiello

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A massive destruction of wealth is coming, this is what the Fed is 'engineering' – Alfonso Peccatiello

Attempting to slow down the economy and subdue inflation, the Federal Reserve has already raised interest rates by 25 basis points and is expected to raise rates by 50 basis points at each of its next two meetings in May and June.

"Right now, the wealth effect still dominates the way we engineer economic growth to make sure the balance sheets of consumers become stronger. As asset prices keep going up, consumers' liabilities, debt and leverage get cheaper," explained Alfonso Peccatiello, Author of The Macro Compass. "If equity or housing prices drop by 50%, it will be a destruction of wealth generated by two generations, because of this loss of wealth effect. Nobody wants to see this happen."

Peccatiello spoke to David Lin, Anchor at Kitco News about his views on wealth, markets, and the Federal Reserve. Paccatiello worked as a portfolio manager for a multibillion-dollar portfolio comprised of multiple asset classes, prior to becoming an author.

Comparing the Fed's current tightening policies to policies of previous years when the Fed wanted to ease conditions, Peccatiello said they are trying to engineer an economic slowdown.

"From 2016 to 2019, the Fed was basically selling the put to the market, putting the floor on the asset prices," he noted. "Right now, the Fed is doing the opposite. They are trying to slow down the demand side of the equation in the economy. They are making your balance sheet weaker, your 401(K) go down a bit, and your second home worthless. This way demand slows down, therefore, inflation slows down."

Peccatiello discussed how high he believes the Fed will hike interest rates. "The Fed will raise rates 50 basis points in May and then again in June. They are going to hike rates until something breaks. The Fed believes neutral rates are between 2 and 2.5%, which means they can easily hike all the way to 2.5% without much happening," Peccatiello predicted. "If the economy can handle 2.5%, and the labor market remains solid, and the equity market remains buoyant, then the Fed is going to keep raising rates fast. But that assumption is just a fairytale."

On equities, Peccatiello disclosed he shorts the S&P 500, which is his main trade, and tech stocks. "My target is for the S&P to drop below 4,000 in the next two months. The reason for this target is because the Fed has been explicit about wanting financial conditions to tighten," Peccatiello emphasized. "If you look at the financial condition index; equity markets, real interest rates, credit spreads, mortgage rates and the dollar are all tightening."

Peccatiello explained why there's very little positive macro-economic news to find at this stage. "Things must get worse, unfortunately, before they get better. The big picture is that central banks won't aggregate demand to slow down. When we start seeing more signs that growth is slowing down, and or when the equity markets start to drop more aggressively, it will get worse. 4,000 for the S&P will ring some bells for the Fed," he said. "If growth slows down, it will imply that inflation will also slow down as a result. If that happens the Fed will feel more comfortable slowing down their hawkish stance."

Speaking about the real estate market, Peccatiello pointed out that it is the biggest and most leveraged asset class out there. "People should pay attention to it. The real estate market is huge, almost a $300 trillion market cap. It's much larger than the equity market, at a $100 trillion cap, or the bond market," he stressed. "Housing prices sit on the asset side of the balance sheet of consumers. Real estate prices are of paramount importance for the wealth effect. If housing prices go down, then consumers appetite to spend will also drop."

"The housing market could face a 50% slowdown. Despite all the rumors you hear about all cash buyers, 85% of all home purchases are bought with mortgages. Mortgage rates have gone up massively. 30-year mortgages in the U.S. have risen from 3% to 5%," Peccatiello stated.

"Wages have not changed for most Americans and most people around the world. And housing prices compared to last year have gone up 20%. In order to buy the same house a year ago, you must pay 30% higher in your monthly mortgage payments, which means you can't afford it."

Peccatiello advises investors to be defensive in this macro environment we are facing.

"Investors should raise their cash allocation. I know it feels uncomfortable with this spot inflation levels. It's better to be defensive than to be offensive where the macro environment doesn't allow you to be offensive," he continued. "You just must be patient. This is an environment where you have nowhere to hide. You can't buy stocks, you can't buy gold, you can't buy Bitcoin."

For more on Alfonso Peccatiello's views on wealth, markets and the Federal Reserve, please watch the full video above.
 

By Kitco News

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

The Artist that came out of the Winter