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Dollar strength wanes gold pops to 1954 but quickly retreats from high

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Dollar strength wanes, gold pops to $1954 but quickly retreats from high

Gold futures opened at $1943.80 then rose to $1954 in one hour beginning at 9 o'clock EDT. This rise was not sustainable with gold giving back those gains and trading to a low of $1940 before slightly recovering. As of 5 PM EDT gold futures basis the most active December contract is currently fixed at $1942.60 which is a net gain of $0.10.

However, today's price range marks the first time that gold has gained on the day (although fractional) this week. Gold will finish fractionally higher on the day but lower on the week. There is however solid technical evidence that a support level was tested on Wednesday and Thursday and at least this week has held.

Gold finds possible technical support at the 61.8% Fibonacci retracement

Gold's short-term corrective cycle began after a high of $1980 was reached on Friday of last week and then traded lower for three consecutive days on Tuesday, Wednesday, and Thursday. The weekly low at approximately $1940 occurred on Wednesday, September 6, and although gold has traded to a higher low yesterday and today it remains close to the weekly lows.

Yesterday we spoke about a potential technical level of support that occurs at $1939.20 which is based upon a Fibonacci retracement of 61.8%. The short-term data set used for this retracement begins at $1914 and concludes at last Friday's high of $1980.

A 61.8% price correction is an acceptable but deep retracement for a market in a bullish scenario. However, gold has been in a defined corrective period since the beginning of May. This means that on a technical basis, gold must challenge and take out the most recent high that occurs just above $2020 before we would get technical confirmation that this week's low marks the end of a correction and a bullish key reversal.

According to the CME's Fedwatch tool, there is a 93% probability that the Federal Reserve will not implement another rate hike at the FOMC meeting later this month. Recent bearish market sentiment is the result of dollar strength and uncertainty as to how long the Federal Reserve will maintain the current elevated interest rates.

Earlier this week one of the more hawkish Federal Reserve officials Fed Governor Christopher Waller remarked about how recent data suggested that their monetary policy tightening has had a strong effect on inflation saying, "There is nothing that is saying we need to do anything imminent anytime soon… We can just sit there and wait for the data."

Market participants are now waiting for the CPI index report which will be published on Wednesday. They will look for information to see if the current level of inflation confirms that the U.S. economy can withstand interest rates at this elevated level. More importantly, they will look to see how inflation is responding to the Fed's restrictive monetary policy to determine whether recent steps have put inflation on a trajectory to reach its target of 2%.

By

Gary Wagner

Contributing to kitco.com

Time to Buy Gold and Silver

Tim Moseley

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Organic Soil: Discover the Benefits of Godesana’s Sponsorsite

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Organic Soil: Discover the Benefits of Godesana's Sponsorsite

GoDesana is a company that offers a variety of organic products, including essential oils, nutritional supplements, and personal care items. One of their product lines is focused on organic soil products, which are designed to help gardeners and farmers grow healthy, nutrient-rich plants. These products are made with natural ingredients and are free from harmful chemicals and additives.

The organic soil products offered by GoDesana are designed to improve the health and vitality of soil, which in turn leads to healthier plants and higher yields. These products are made with a blend of natural ingredients, including organic compost, worm castings, and other beneficial microbes. They are formulated to provide the right balance of nutrients and minerals that plants need to thrive.

For those interested in purchasing GoDesana's organic soil products, they can be found on the company's website. The website offers a user-friendly shopping experience, with detailed product descriptions and helpful customer support. Customers can also find answers to frequently asked questions on the website, as well as information on how to contact customer support for additional assistance.

Key Takeaways

  • GoDesana offers a line of organic soil products that are designed to improve the health and vitality of soil, leading to healthier plants and higher yields.
  • These products are made with natural ingredients, including organic compost, worm castings, and other beneficial microbes, and are free from harmful chemicals and additives.
  • Customers can purchase these products on the company's website, which offers detailed product descriptions, helpful customer support, and answers to frequently asked questions.

About GoDesana

Company Overview

GoDesana is a US-based company that specializes in providing pure, organic, and wild-crafted essential oils and plant-based nutritionals from around the world. The company was founded in 2015 and has since then become a leading provider of essential oils and plant-based products.

GoDesana's mission is to provide customers with unique products that are made with the highest quality ingredients. The company is committed to using only the purest and most natural ingredients in their products, and they work closely with farmers and suppliers to ensure that they are sourcing the best quality ingredients.

GoDesana offers a wide range of products, including essential oils, carrier oils, diffusers, plant-based nutritionals, and skincare products. All of their products are made with natural ingredients and are free from harmful chemicals and additives.

Leadership Team

GoDesana is led by a team of experienced professionals who are passionate about natural health and wellness. The company's founder and CEO is Alexandria Brighton, an aromatherapy formulator, educator, and owner of the Brighton Institute of Botanical Studies. Brighton has over 30 years of experience in the Ayurvedic medicine, aromatherapy, herbal, and natural remedy world.

The company's leadership team also includes Vice President of Operations, Paul Kline, who brings over 25 years of experience in operations and supply chain management to the company. Additionally, GoDesana's Director of Marketing, Stephanie Gunning, has over 25 years of experience in marketing and branding, and is responsible for the company's marketing and branding efforts.

Overall, GoDesana is a company that is committed to providing customers with high-quality, natural products that promote health and wellness. With a strong leadership team and a commitment to using only the purest and most natural ingredients, GoDesana is a company that is well-positioned to continue growing and expanding in the natural health and wellness space.

Organic Soil Products

Product Range

Godesana offers a variety of organic soil products that are designed to improve soil health and promote plant growth. These products are made from natural, organic ingredients and are free from harmful chemicals and synthetic additives.

Some of the organic soil products available from Godesana include:

  • Organic Soil Conditioner: This product is designed to improve soil structure, increase water retention, and enhance nutrient availability. It contains a blend of organic matter, including composted plant material, worm castings, and fish emulsion.

  • Organic Potting Soil: Godesana's organic potting soil is a nutrient-rich blend of composted plant material, worm castings, and other organic matter. It is formulated to provide the ideal growing environment for container plants.

  • Organic Garden Soil: This product is designed to improve the quality of garden soil by adding organic matter and essential nutrients. It contains a blend of composted plant material, worm castings, and bone meal.

Benefits

Using organic soil products from Godesana can provide a number of benefits for gardeners and growers. Some of the key benefits include:

  • Improved soil health: Organic soil products are rich in organic matter, which can help to improve soil structure, increase water retention, and enhance nutrient availability.

  • Healthier plants: By providing essential nutrients and promoting healthy root growth, organic soil products can help to produce healthier, more robust plants.

  • Environmentally friendly: Organic soil products are made from natural, renewable resources and are free from harmful chemicals and synthetic additives, making them a more sustainable choice for gardening and agriculture.

Overall, Godesana's organic soil products offer a natural, effective way to improve soil health and promote plant growth. Whether you are a home gardener or a professional grower, these products can help you achieve your gardening goals in a safe, sustainable way.

Product Quality

goDésana Organics is known for its high-quality products. The company uses only the finest ingredients in its formulations, and its manufacturing process is designed to ensure that every product is of the highest quality. This section will explore the ingredients and manufacturing process that go into making goDésana Organics products.

Ingredients

goDésana Organics uses only the highest quality ingredients in its products. The company sources its ingredients from trusted suppliers, and each ingredient is carefully selected for its purity and potency. The company is committed to using only natural and organic ingredients in its products, and it does not use any synthetic fragrances, colors, or preservatives.

The company's products are formulated by Alexandria Brighton, a renowned aromatherapist with over 30 years of experience in the field. Brighton's formulations are based on the principles of Ayurvedic medicine, and she uses only the finest essential oils and botanical extracts in her products.

Manufacturing Process

goDésana Organics' manufacturing process is designed to ensure that every product is of the highest quality. The company uses a proprietary process to extract essential oils and botanical extracts from its ingredients, which helps to preserve their purity and potency.

The company's products are manufactured in small batches to ensure consistency and quality. Each batch is tested for purity and potency, and the company uses third-party labs to verify the quality of its products.

goDésana Organics is committed to sustainability, and the company uses eco-friendly packaging materials whenever possible. The company's products are also cruelty-free, and it does not test on animals.

In conclusion, goDésana Organics is committed to producing high-quality products that are both effective and safe. The company uses only the finest natural and organic ingredients in its formulations, and its manufacturing process is designed to ensure that every product is of the highest quality.

How to Purchase

Purchasing from goDésana Organics is simple and easy. Customers can conveniently shop for their favorite products online and choose from various delivery options.

Online Shopping

To make a purchase, customers can visit the goDésana Organics website at https://godesana.com/index.asp?sponsorsite=organicsoil and browse through the available products. The website provides detailed information about each product, including its ingredients, usage instructions, and benefits.

Customers can add the desired products to their cart and proceed to checkout. During the checkout process, customers will be prompted to create an account, provide their billing and shipping information, and choose their preferred delivery option.

Delivery Options

goDésana Organics offers various delivery options to meet the needs of its customers. Customers can choose from the following delivery options:

  • Standard Shipping: This option is available for all orders and typically takes 3-7 business days to arrive.

  • Expedited Shipping: This option is available for an additional fee and typically takes 2-3 business days to arrive.

  • International Shipping: This option is available for customers outside of the United States and typically takes 7-14 business days to arrive.

Customers can track their order status and delivery information through their goDésana Organics account.

Overall, purchasing from goDésana Organics is a hassle-free experience. Customers can shop online, choose from various delivery options, and enjoy the benefits of high-quality organic products.

Customer Support

Contact Information

Customers can get in touch with goDésana's customer support team by phone, email, or mail. The customer service phone number is 1-800-405-5545. The customer support email address is support@godesana.com. Customers can also send mail to goDésana at the following address:

goDésana
754 Cincinnati-Batavia Pike, Suite A
Cincinnati, OH 45245

Support Services

goDésana offers a range of support services to its customers. These include:

  • Product Information and Education: Customers can find detailed information about goDésana's products on the company's website. The website also includes educational resources and articles about essential oils and other natural health products.

  • Order Tracking: Customers can track their orders on the goDésana website. They can log in to their account to view their order history and track the status of their current orders.

  • Returns and Refunds: goDésana offers a 30-day money-back guarantee on all of its products. If customers are not satisfied with their purchase, they can return it for a full refund within 30 days of the purchase date.

  • Wholesale Program: Customers who are interested in becoming wholesale distributors of goDésana's products can contact the company's customer support team to learn more about the program.

Overall, goDésana's customer support team is knowledgeable and responsive. Customers can expect prompt and helpful service when they contact the company with questions or concerns.

Frequently Asked Questions

What is Godesana and how does it work?

Godesana is a company that offers a range of essential oils and natural products for personal care, home care, and wellness. The company sources its ingredients from organic and sustainable farms and uses a unique extraction process to ensure the purity and potency of its products. Godesana products are designed to promote physical, emotional, and spiritual well-being.

What are the benefits of using Godesana products?

Godesana products are made from natural and organic ingredients, free from harmful chemicals, and are environmentally friendly. The essential oils used in the products are carefully selected for their therapeutic properties and are known to promote relaxation, reduce stress, and boost the immune system. Godesana products can be used for a variety of purposes, including aromatherapy, massage, skincare, and cleaning.

How do I become a Godesana member?

To become a Godesana member, you need to sign up on the company's website and purchase a membership kit. There are two types of memberships: Wholesale Customer and Product Consultant. Wholesale Customers can purchase products at a discounted price, while Product Consultants can earn commissions by selling products and building a team.

What is the Godesana compensation plan?

The Godesana compensation plan is a multi-level marketing (MLM) plan that rewards members for selling products and building a team. Members can earn commissions on their personal sales, as well as on the sales of their downline. The compensation plan includes various bonuses and incentives, such as the Fast Start Bonus, the Leadership Bonus, and the Car Bonus.

What is the Godesana business opportunity?

The Godesana business opportunity is a chance to start your own business by becoming a Product Consultant and selling Godesana products. As a Product Consultant, you can earn commissions on your sales, as well as on the sales of your downline. You can also earn bonuses and incentives by achieving certain sales targets and building a team.

What are some popular Godesana products?

Some popular Godesana products include the Essential Oil Singles and Blends, the Body Care Collection, the Home Care Collection, and the Wellness Collection. The Essential Oil Singles and Blends are made from pure, therapeutic-grade essential oils and can be used for aromatherapy, massage, and skincare. The Body Care Collection includes natural and organic products for hair care, body care, and oral care. The Home Care Collection includes cleaning products made from natural and non-toxic ingredients. The Wellness Collection includes supplements and other products designed to support overall health and well-being.

Tim Moseley

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Bullion trades above 1950 whilst markets wait central banks decision

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Last week gold jumped close to the psychological threshold of $2,000 before slowing down on Thursday and Friday, while the US dollar showed recovery signals. Despite this time, the price of bullion remained above $1,950. Overall, the trend for the gold price still appears positive. Investors are, once again, in a wait-and-see mode. Indeed, we have just entered a week with a very busy macroeconomic agenda that could break the recent low volatility scenario.

The focus will be on central banks, starting with the FOMC meeting on Wednesday, at which the Federal Reserve is expected to announce a rate hike from 5.25% to 5.50% after last month’s pause. On Thursday, the European Central Bank will likely move in the same direction, raising rates from 4.00% to 4.25%, while on Friday morning, the Bank of Japan will hold its traditional conference. Any dovish surprise, particularly from the Fed, could be positive for gold, with good chances of seeing a new attack to the $2,000 mark. Vice versa, if the US central bank opens the door to new raises (after the one already expected by the markets), stocks and gold could be negatively impacted.

The week’s busy agenda also includes the preliminary release of the US Q2 GDP and the initial jobless claim. Analysts expect GDP growth of 1.8% (compared to the previous +2.0%), while the jobless requests should remain steady or slightly grow. These data will be strictly monitored by the Fed for its next monetary policy decision and, of course, by gold traders looking for new catalysts that could help bullion continue its rally.

Time to Buy Gold and silver

Tim Moseley

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Gold price firmer in quieter trading US CPI next focal point

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Gold price firmer in quieter trading; U.S. CPI next focal point

Gold prices are firmer and silver prices near steady in more quiet early U.S. trading Friday. More mild short covering is featured in gold futures, along with some perceived bargain hunting following recent losses. December gold was last up $4.80 at $1,947.30 and December silver was up $0.050 at $23.29.

Asian and European stock markets were mostly weaker overnight. U.S. stock indexes are pointed to slightly weaker openings when the New York day session begins. Traders and investors are waiting for the next major U.S. data point, which will likely be the consumer price index report for August, out next Wednesday. Trading may remain quieter until that time.

The key outside markets today see the U.S. dollar index slightly down but not far below this week’s six-month high. Nymex crude oil prices are firmer and trading around $87.50 a barrel—not far below this week’s 10-month high. The benchmark U.S. Treasury 10-year note yield is presently fetching 4.24%.

  China buys 29 tonnes of gold in August, stretches buying spree to 10 months

U.S. economic data due for release Friday is light and includes monthly wholesale trade inventories and consumer credit.

Technically, the gold futures bears have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close in December futures above solid resistance at the September high of $1,980.20. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the August low of $1,913.60. First resistance is seen at Wednesday’s high of $1,954.50 and then at $1,965.00. First support is seen at this week’s low of $1,940.00 and then at $1,925.00. Wyckoff's Market Rating: 3.5

The silver bears have the overall near-term technical advantage. Silver bulls' next upside price objective is closing December futures prices above solid technical resistance at this week’s high of $24.655. The next downside price objective for the bears is closing prices below solid support at the August low of $22.585. First resistance is seen at $23.50 and then at $24.00. Next support is seen at this week’s low of $23.13 and then at $23.00. Wyckoff's Market Rating: 3.5.

By

Jim Wyckoff

For Kitco News

Contact jwyckoff@kitco.com

www.kitco.com

Time to Buy Gold and silver

Tim Moseley

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Which Online Business Should You Start?

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Which Online Business Should You Start?

MARKETHIVE

 

Starting an online business has become an increasingly popular way to make money and achieve financial independence. With the rise of the digital age, it's now easier than ever to start a business from scratch and reach a global audience. However, with so many options available, it can be difficult to know which online business to start.

Understanding the different online business models available is the first step to choosing the right business for you. Whether it's e-commerce, affiliate marketing, or dropshipping, each model has its own unique advantages and disadvantages. Identifying your skills and interests is also crucial in determining which online business to start. By leveraging your strengths and passions, you can increase your chances of success and fulfillment.

Key Takeaways:

  • Understanding the different online business models is crucial in choosing the right business for you.
  • Identifying your skills and interests can help you leverage your strengths and passions for success.
  • Setting up and growing your online business requires dedication and hard work, but can lead to financial independence and personal fulfillment.

Understanding Online Business Models

When starting an online business, it's important to choose the right business model. There are various online business models, each with its own unique advantages and disadvantages. In this section, we'll explore some of the most popular online business models.

E-Commerce

E-commerce is the process of buying and selling products online. This business model involves setting up an online store where customers can browse and purchase products. E-commerce businesses can sell physical products, such as clothing, electronics, and home goods, or digital products, such as software, e-books, and online courses.

One of the advantages of e-commerce is that it allows businesses to reach a global audience. E-commerce businesses can also operate 24/7, which means that customers can shop at any time. However, e-commerce businesses need to deal with shipping and handling, which can be expensive and time-consuming. They also need to ensure that their website is secure and user-friendly.

ecosystem for entrepreneurs

Affiliate Marketing

Affiliate marketing is a performance-based marketing model in which businesses pay affiliates a commission for promoting their products or services. Affiliates can promote products through their website, blog, or social media channels. When a customer clicks on an affiliate link and makes a purchase, the affiliate earns a commission.

One of the advantages of affiliate marketing is that it requires little to no investment. Affiliates don't need to create their own products or handle customer service. However, affiliates need to build a following and establish trust with their audience. They also need to choose the right products to promote and ensure that their promotions are ethical and transparent.

Blogging

Blogging is the process of creating and publishing content on a website. Bloggers can write about any topic, from food and travel to business and finance. Bloggers can monetize their blog through advertising, sponsored content, affiliate marketing, and digital products.

One of the advantages of blogging is that it allows individuals to share their passions and expertise with the world. Blogging can also be a source of passive income, as bloggers can earn money through advertising and affiliate marketing. However, blogging requires a lot of time and effort, as bloggers need to create high-quality content and build a following.

Digital Products

Digital products are products that can be downloaded or accessed online, such as e-books, online courses, and software. Digital products can be sold through an e-commerce store or through a platform such as Udemy or Skillshare.

One of the advantages of digital products is that they can be created once and sold many times. Digital products also have high profit margins, as there are no production or shipping costs. However, creating digital products requires a lot of time and effort, as creators need to ensure that their products are high-quality and provide value to their customers.

In conclusion, choosing the right online business model is crucial for success. E-commerce, affiliate marketing, blogging, and digital products are just a few of the many online business models available. By understanding the advantages and disadvantages of each model, entrepreneurs can make an informed decision about which model is right for them.

Identifying Your Skills and Interests

Starting an online business can be a great way to turn your passions and skills into a profitable venture. To identify the best online business for you, it's essential to start by examining your skills and interests.

Self-Assessment

The first step in identifying the right online business for you is to conduct a self-assessment. This involves taking a close look at your skills, experience, and interests to determine what type of business would be the best fit.

Start by making a list of your skills and experiences. This could include anything from web design and programming to marketing and sales. Be sure to also consider your interests and hobbies, as these can often provide valuable insights into potential business ideas.

Once you have a list of your skills and interests, think about how you could turn them into a profitable business. For example, if you have experience in web design, you could start a web development agency or create an online course teaching others how to design websites.

ecosystem for entrepreneurs

Market Research

After you've conducted a self-assessment, the next step is to conduct market research to determine which online business ideas are the most viable. This involves researching your target audience, competitors, and industry trends to identify opportunities and potential challenges.

Start by identifying your target audience. Who are they, and what are their needs and pain points? What types of products or services would they be interested in purchasing? This information can help you identify potential business ideas that are in high demand.

Next, research your competitors to see what they're doing well and where there may be gaps in the market. Look for ways to differentiate your business and provide unique value to your customers.

Finally, stay up-to-date with industry trends and changes to ensure that your business remains relevant and competitive. This could include following industry blogs and news sources, attending conferences and events, and networking with other business owners in your industry.

By conducting a thorough self-assessment and market research, you can identify the online business that best aligns with your skills, interests, and market demand.

Choosing the Right Business for You

Starting an online business can be a great way to achieve financial freedom and work on something that you love. However, choosing the right business model can be a challenging task. In this section, we will discuss some tips on how to choose the right online business for you.

Matching Skills with Business Models

One of the most important factors to consider when choosing an online business is matching your skills with the business model. For example, if you are good at writing, you might consider starting a blog or content writing service. If you are good at graphic design, you might consider starting a web design or logo design service. By matching your skills with the business model, you will be able to leverage your strengths and increase your chances of success.

Profitability Analysis

Another important factor to consider when choosing an online business is profitability. Before starting a business, it is important to conduct a profitability analysis to determine the potential revenue and expenses. This will help you determine whether the business model is viable and whether it can generate enough revenue to cover your expenses and provide a reasonable profit.

Some factors to consider when conducting a profitability analysis include:

  • Market size and demand
  • Competition and pricing
  • Fixed and variable costs
  • Profit margins

By conducting a profitability analysis, you can make an informed decision about whether a particular business model is worth pursuing.

In conclusion, choosing the right online business requires careful consideration of your skills and the potential profitability of the business model. By matching your skills with the business model and conducting a profitability analysis, you can increase your chances of success and achieve your goals.

Setting Up Your Online Business

Starting an online business involves several steps, including business registration, website development, and marketing strategies. Here's what you need to know to set up your online business.

Business Registration

Before launching your online business, you need to register it with the appropriate authorities. This involves choosing a business structure, registering your business name, and obtaining any necessary licenses and permits. Here are the steps you need to take:

  1. Choose a business structure: You can choose to operate as a sole proprietorship, partnership, LLC, or corporation. Each structure has its own advantages and disadvantages, so it's important to choose the one that best suits your needs.

  2. Register your business name: You need to register your business name with your state or local government. This will ensure that no one else can use the same name.

  3. Obtain licenses and permits: Depending on your industry and location, you may need to obtain licenses and permits to operate your business legally.

Website Development

Your website is the face of your online business, so it's important to develop it carefully. Here are the steps you need to take:

  1. Choose a domain name: Your domain name should be easy to remember, relevant to your business, and available.

  2. Choose a web hosting provider: Your web hosting provider will store your website files and make them accessible to visitors.

  3. Design your website: Your website should be visually appealing, easy to navigate, and optimized for search engines.

  4. Develop content: Your website should have high-quality, informative content that engages your visitors and encourages them to take action.

ecosystem for entrepreneurs

Marketing Strategies

Marketing is essential to the success of your online business. Here are some effective marketing strategies to consider:

  1. Search engine optimization (SEO): SEO involves optimizing your website for search engines to improve your visibility and attract more visitors.

  2. Social media marketing: Social media platforms like Facebook, Twitter, and Instagram can be powerful tools for promoting your business and engaging with your audience.

  3. Email marketing: Email marketing involves sending newsletters, promotions, and other content to your subscribers to keep them engaged and informed.

  4. Pay-per-click (PPC) advertising: PPC advertising involves placing ads on search engines or social media platforms and paying for each click.

By following these steps, you can set up your online business with confidence and start attracting customers.

Maintaining and Growing Your Business

Once your online business is up and running, it's important to focus on maintaining and growing it. Here are some key areas to consider:

Customer Engagement

Engaging with your customers is crucial for building a loyal following and growing your business. Here are some ways to keep your customers engaged:

  • Respond promptly to customer inquiries and feedback through email, social media, or other channels.
  • Offer personalized recommendations and promotions based on customers' past purchases or interests.
  • Create a loyalty program to reward repeat customers.
  • Encourage customers to leave reviews and share their experiences with others.

By staying connected with your customers, you can build a community around your brand and create a positive reputation.

Continuous Learning and Improvement

To stay competitive in the ever-changing online business world, it's important to continuously learn and improve. Here are some ways to do that:

  • Attend industry conferences, webinars, and other events to stay up-to-date on the latest trends and best practices.
  • Network with other business owners and professionals in your industry to exchange ideas and insights.
  • Analyze your business data to identify areas for improvement, such as website traffic, sales, and customer feedback.
  • Experiment with new marketing strategies, products, or services to see what works best for your business.

By constantly learning and improving, you can stay ahead of the competition and keep your business growing.

Frequently Asked Questions

What are some unique online business ideas?

Some unique online business ideas include creating and selling digital products such as printables, graphics, and fonts, offering virtual interior design services, starting a subscription box service, or creating and selling personalized products such as custom jewelry or artwork.

What are some profitable online business ideas?

Some profitable online business ideas include starting a dropshipping store, offering digital marketing services, creating and selling online courses, or starting an e-commerce store selling high-demand products.

What are some online business ideas for beginners?

For beginners, some online business ideas include starting a blog or YouTube channel, offering freelance writing or graphic design services, starting a social media management business, or selling products on online marketplaces such as Etsy or eBay.

What are some online business examples?

Some popular online business examples include Amazon, eBay, Etsy, Airbnb, and Uber.

What are some online business ideas that can be started from home?

Many online businesses can be started from home, such as starting a blog or YouTube channel, offering virtual assistant services, starting an e-commerce store, or offering online tutoring or coaching services.

What are some online businesses that can be started with $500?

Some online businesses that can be started with $500 or less include starting a freelance writing or graphic design business, creating and selling digital products such as printables or e-books, starting a dropshipping store, or offering social media management services.

Tim Moseley

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Gold prices under pressure as US weekly jobless claims fall more than expected by 13K

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Gold prices under pressure as U.S. weekly jobless claims fall more than expected by 13K

The gold market is seeing some renewed selling pressure as the U.S. labor market remains fairly robust with the number of American workers applying for first-time unemployment claims dropped more than expected last week.

Thursday, the U.S. Labor Department said that weekly jobless claims fell by 13,000 to 216,000, down from the previous week's revised estimate of 228,000 claims.

According to consensus forecasts, economists were expecting to see jobless claims rise at a faster pace to 232,000.

The gold market is losing some altitude in initial reaction to the latest labor market numbers. December gold futures last traded at $1,941.10 an ounce, down 0.16% on the day.

According to some market analysts, the better-than-expected claims data is having an outsized impact on markets as it eases fears of an economic slowdown.

“Coming on the heels of this week's ISM services index, this is a big pushback on the narrative of a weakening US economy,” said Adam Button, chief currency strategist at Forexlive.com.

The four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it flattens week-to-week volatility – fell to 229,250, a decrease of 8,500 claims from the previous week's revised average.

Continuing jobless claims, which represent the number of people already receiving benefits, were at 1.679 million during the week ending Aug. 26, falling by 40,000 from the previous week's revised level.

Many economists note that healthy labor market data could force the Federal Reserve to maintain its hawkish bias and keep interest rates elevated longer than expected.

The U.S. central bank has been adamant in recent months that it would need to see growing slack in the labor market before they begin to shift their stance on U.S. monetary policy.

By

Neils Christensen

For Kitco News

Contact nchristensen@kitco.com

www.kitco.com

Time to Buy Gold and silver

Tim Moseley

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The Trailblazing Rise of the Chinese e-CNY and its Implication

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The Trailblazing Rise of the Chinese e-CNY and its Implication

Welcome to the world of digital currencies, where financial transactions unfold without the clink of coins or the rustle of banknotes. While cryptocurrencies are not a novelty, the spotlight is now on Central Bank Digital Currencies (CBDCs). These digital currencies, underpinned by central banks, are gaining momentum. China stands at the forefront of CBDC development, notably with its digital yuan (e-CYN). China has been paving its way towards a digital economy for decades. Its digital currency journey began in 2014, and has been testing its CBDC since 2017. The digital yuan outshines conventional currency with enhanced usability, efficiency, and traceability.

It is no secret that China’s economy is largely state-controlled. With the introduction of CBDC, China’s central bank will have complete control and power over all financial transactions. CBDC provides 100% traceability, which means the government can monitor everything an individual does financially. This makes the digital Yuan an instrument of control as much as a currency.

In a world perpetually evolving, the integration of digital currency aligns seamlessly with the contemporary digital lifestyle. Given the prevalence of smartphones, it's a logical progression for governments to consider incorporating digital currency into their frameworks. However, the big question is, do we want our every move monitored by the government? 


Image source: CoinDesk

What the Chinese e-CYN is all about

The Chinese CBDC, also known as the digital yuan, is the country's official digital currency. It operates similarly to physical currency but is stored in a digital wallet on a user's smartphone. Transactions can be completed offline and online, allowing for ease of use. The benefits of China's CBDC include increased financial inclusion, improved efficiency of payment systems, and reduction in cash handling costs for businesses.

It has been used for transactions totaling 62 billion yuan ($9.7 billion). The digital yuan platform is built on the Binance Smart Chain decentralized blockchain technologies, leveraging their security and transparency. China has taken aggressive steps to advance its e-CYN while simultaneously cracking down on cryptocurrencies outside state control. The digital yuan can potentially transform the financial industry and alter how people conduct financial transactions.

This could place China ahead of other countries regarding financial innovation and technological advancement. While these advancements seem beneficial, it is crucial to consider the implications of a government-controlled digital currency. The Chinese CBDC operates on a centralized system, meaning that the government stores and monitors financial data.

This kind of government surveillance could infringe on user privacy and financial freedom. It could also lead to a decrease in anonymous financial transactions. As we move towards a more digitalized world, it is essential to consider the impact of the technologies we implement. The Chinese CBDC brings with it new opportunities and potential dangers. It is important to proceed with caution and evaluate the long-term effects of these advancements on society.

The Impact of e-CYN on Society

The launch of the Chinese Central Bank's Digital Currency (CBDC) has been subject to much scrutiny from privacy advocates. The concerns raised, while valid, are seen by some as mere fear-mongering. The Chinese government has always had a reputation for monitoring its citizens, and the CBDC will make it easier to advance its surveillance efforts.

Installing the e-CNY is pretty straightforward. It can be downloaded as a standalone app or used through China's existing digital payment services, including Alipay and WeChat Pay. These two platforms dominate the sector with over 1 billion users each. Much like most banks these days, e-CNY users can pay for goods using their phones or a card. There's also a version for private users and businesses, and its usage has expanded to at least one Western bank.

But let's step back and look at CBDCs from the perspective of the Chinese government. Why is the People's Bank of China (PBOC), China's central bank, so desperate to roll out a CBDC? As you probably know, CBDCs are highly appealing to central banks worldwide for various reasons. These rationales range from practical benefits, such as instantaneous payments and lower costs, to more alarming implications. China shares these motivations. The advantages of CBDCs for governments and central banks include efficient and cheap emergency relief, greater access to financial services, and the ability to set rules for the digital money issued.

However, China's reasons go deeper than just efficiency. Data collection is a key factor. China is a surveillance state aiming to gather and centralize vast amounts of data on its citizens, using it to maintain authoritarian control. CBDCs offer programmability, which lets the central bank set rules for digital money, including restrictions and asset freezes for "bad actors." While this might seem like a good idea on the surface, it's concerning when the definition of "bad actor" is controlled by a totalitarian regime. This could lead to the suppression of political opponents and opposing voices.

China also aims to boost the international use of its currency through CBDCs, as the currency currently has a low share in global payments compared to the US dollar. The hope is that CBDCs could help China and its allies reduce their reliance on global financial systems, such as the SWIFT payment network, and evade sanctions.


Image source: South China Morning Post

Additionally, China's ambition to be a tech leader plays into this. The country is positioning itself as a leader in blockchain technology with initiatives like the Blockchain-Based Service Network (BSN). The BSN aligns with China’s vision of building a digital economy and a digital society, as well as advancing its global influence in the field of blockchain technology.

CBDCs are a part of this larger plan. However, while China's tech ambitions are commendable, the concern lies in giving a surveillance-heavy government like China's the power to shape behavior and control its citizens even more.

The good news is that e-CNY's widespread adoption isn't guaranteed. While it's been introduced in various cities, its technological limitations and practical issues have hindered its growth. Privacy, practicality concerns, and the potential risks they pose in the hands of governments with vast surveillance capabilities and limited checks and balances have kept adoption from skyrocketing.

The Bottom Line

Clearly, the emergence of Chinese CBDCs holds the power to reshape society's structure in a significant way. While the advantages are noteworthy, weighing the potential risks and their lasting effects is essential. Striking a balance between the benefits and drawbacks becomes paramount as digital currencies continue to progress. As history has shown, introducing new technologies isn't always without challenges.

The temptation of convenience and enticing features should not blind us to the potential consequences of these technologies. After all, if we aren't cautious, we might unknowingly trade our freedom for the ease of these modern innovations. Let's embrace the wave of digital currency with enthusiasm, yet let's do so collectively, ensuring we don't get overwhelmed by its influence. As we move forward, let's stand vigilant and witness what the future holds, such as the cost of being part of a dynamic world in this digital era.

The increased use of e-CNY has major implications for the financial world. It allows for the creation of a massive database of transactions centrally monitored and controlled by the People's Bank of China. This aligns with President Xi Jinping's vision of enhancing overall supervision, regulating various financial behaviors, and implementing programs for managing financial risks.

Beyond privacy and transparency issues, China is also looking to expand the use of e-CNY in cross-border payments to establish itself as a leading player in the global digital currency competition. This move might also aim to reduce the dominance of the U.S. dollar in international transactions and find ways to work around any sanctions imposed by the United States. China's innovations with e-CNY are reshaping its domestic financial landscape and making its competitors abroad recognize it as a strong and innovative force in the realm of digital currencies.

 

 

About: Prince Ibenne. (Nigeria) Prince is passionate about helping people understand the crypto-verse through his easily digestible articles. He is an enthusiastic supporter of blockchain technology and cryptocurrency. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Tim Moseley

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The gold market could hit 2600 as US dollar index falls below 104 – DeCarley Trading’s Carley Garner

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The gold market could hit $2,600 as U.S. dollar index falls below 104 – DeCarley Trading's Carley Garner

The U.S. dollar continues to dominate the gold market; however, momentum in the greenback could be running out of steam as the Federal Reserve is unlikely to continue to maintain its aggressive monetary policy stance through year-end, according to one market strategist.

In a recent interview with Kitco News, Carley Garner, co-founder of the brokerage firm DeCarley Trading, said that gold, as it holds critical support levels, is in a good position to hit new all-time highs when the U.S. dollar's momentum starts to fade.

Garner said she expects the U.S. dollar index to hold resistance below 105 points. Ultimately, she sees the U.S. dollar eventually retesting support at 99 points.

"If we break below that support level, we are probably going back towards the mid-nineties and if that's the case, that's a game changer for gold," she said. "Suddenly, we are not looking at $2,000 gold but new all-time highs."

Garner said a breakdown in the U.S. dollar could eventually push gold prices to $2,600 an ounce.

Garner said that one of the reasons why she sees so much potential in gold is because of how resilient it has been in the last few months. While bond yields in the U.S. remain near 15-year highs above 4%, gold has held critical support around its 20-day moving average.

A peak in long-term yields would remove another headwind for gold, she said.

"We are basically sitting on the biggest net short in bonds on record and at some point, that is going to unwind itself," Garner said. "This trade will be unwound and that is going to push interest rates lower. When positioning is this extreme, it's just a matter of time."

One factor that could spark a selloff is if the Federal Reserve shifts to a more neutral monetary policy stance, leaving interest rates unchanged through year-end. According to the CME FedWatch Tool, markets see a more than 90% chance of no rate hike later this month and only a 50/50 chance of a rate hike in November.

  Rising bond yields drive outflows from gold ETFs, but long-term support remains

While Garner is bullish on gold, she added that the market could remain volatile in the near term, with prices potentially retesting support around $1,900 an ounce. She said that if bearish momentum picks up, she would not be surprised to see prices fall to $1,980 an ounce.

"I wouldn't give up on it unless maybe we broke below, let's say $1,800," she said.

Although Garner is bullish on gold, she does not have the same enthusiasm for silver. She said that she would rather play a breakout in the precious metals through gold.

"Eventually, silver will outperform gold, but I don't think it's going to happen now," she said. "I think the only thing I can say is that on a shorter time frame, silver is usually a buy around $20."

By

Neils Christensen

For Kitco News

Contact nchristensen@kitco.com

www.kitco.com

Time to Buy Gold and silver

Tim Moseley

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Gold silver down as USDX rallies US Treasury yields up-tick

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Gold, silver down as USDX rallies, U.S. Treasury yields up-tick

Gold and silver prices are solidly lower in midday U.S. trading Tuesday, as a strong U.S. dollar index and rising U.S. Treasury yields have the metals market sellers in charge on this day. December gold was last down $14.00 at $1,953.10 and December silver was down $0.582 at $23.975.

The metals market bulls were also discouraged as China reported some more downbeat economic data. Its Caixin services purchasing managers index (PMI) came in at 51.8 is August versus 54.1 July and was below expectations of 53.5. The Caixin composite PMI was 51.7 versus 51.9 July. Recent weaker China economic data suggests less demand for raw commodities, including the metals.

Asian stock markets were mostly lower in overnight trading. U.S. stock indexes are mixed at midday. History shows the months of September and October can be rocky for the stock and financial markets.

Meantime, the Australia’s central bank kept its monetary policy unchanged but said further interest rate hikes may be necessary.

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The key outside markets today see the U.S. dollar solidly up and at a six-month high. Nymex crude oil futures prices are solidly up and trading around $87.75 a barrel. Brent crude oil futures rose above $90 a barrel today. The benchmark U.S. Treasury 10-year note yield is presently fetching around 4.2%.

Technically, December gold futures bears have the overall near-term technical advantage. However, prices are still in a fledgling uptrend on the daily bar chart, but just barely. Bulls’ next upside price objective is to produce a close above solid resistance at $2,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the August low of $1,913.60. First resistance is seen at $1,965.00 and then at today’s high of $1,972.60. First support is seen at $1,950.00 and then at $1,940.10. Wyckoff's Market Rating: 3.5.

December silver futures bulls have lost their overall near-term technical advantage. A price downtrend on the daily bar chart has been negated. Silver bulls' next upside price objective is closing prices above solid technical resistance at last week’s high of $25.425. The next downside price objective for the bears is closing prices below solid support at the August low of $22.585. First resistance is seen at today’s high of $24.655 and then at $25.00. Next support is seen at today’s low of $23.815 and then at $23.50. Wyckoff's Market Rating: 5.0.

December N.Y. copper closed up 20 points at 385.40 cents today. Prices closed nearer the session high. The copper bulls and bears are back on a level overall near-term technical playing field. However, prices are starting to trend up. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the August high of 403.75 cents. The next downside price objective for the bears is closing prices below solid technical support at the August low of 367.00 cents. First resistance is seen at today’s high of 387.25 cents and then at last week’s high of 390.85 cents. First support is seen at 380.00 cents and then at last week’s low of 378.00 cents. Wyckoff's Market Rating: 5.0.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Gold silver correcting – buy the Labor Day dip?

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Gold, silver correcting – buy the Labor Day dip?

As I write on this Labor Day Monday, silver is now 4% off last week's $25 high, with the price back at $24 right now, as gold is 0.5% off its $1950 high of last week, currently trading at $1940.

The Daily gold chart:

If you made the flip from silver to gold at $24.20 (when I first suggested it) or higher, then you are still in a nicely profitable trade and have likely preserved your mental capital, which may come in handy for the flip from gold back into silver.

The daily silver chart below:

I'm not sure the time to flip into silver is now, and I still believe (as I have suggested since I initially spotted this trade opportunity) that one should be nimble in this market and be ready to be in and out (and vice versa) at the drop of a dime if trying to put on trades.

A look at the gold/silver ratio shows that it has found support as metals have run into resistance.

Prudent traders, in fact, would not be wrong to take profit altogether, in my opinion. It seems very plausible to me that the ratio will find its way back to the top of the range denoted by the yellow rectangle, which will pressure metals further.

Yet another opportunity to add to physical stacks at lower prices looks to be on the horizon.

By

Jonathan Da Silva

Contributing to kitco.com

Time to Buy Gold and silver

Tim Moseley

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