Dramatic’ re-pricing across all financial assets coming as the Fed moves away from its 2 inflation target to this – Larry McDonald

Dramatic' re-pricing across all financial assets coming as the Fed moves away from its 2% inflation target to this – Larry McDonald

Financial markets are about to witness one of the most epic migrations of capital in history as investors rush into hard assets, warned Larry McDonald, Founder of The Bear Traps Report and New York Times bestselling author of 'How to Listen when Markets Speak' and 'Colossal Failure of Common Sense.'

With the national debt approaching $35 trillion, there are only two ways out of the situation — defaults or printing more money, McDonald told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.

"The only way to get out of that kind of debt hole is if you keep inflation above interest rates. That's how you monetize the debt," McDonald said. "That is why [the Federal Reserve] needs a much higher inflation target. It'll [be] a slow, manageable default. But it's the only way out of this colossal debt hole."

In order to tame inflation back to 2%, the Fed needs to keep raising rates, but it can't do that without triggering a 2008-like financial crisis, McDonald pointed out.

"[Powell] should raise rates another 150 basis points. But if you push rates up from here, you will very quickly bring on a financial crisis much worse than Lehman," he said.

Fed will have to raise its 2% inflation target

The Fed will have to cut rates to avoid a banking collapse and a brutal recession. However, first, it must raise the no-longer-attainable 2% inflation target. "[The Fed] will start circulating the white papers and working with other central bankers worldwide to pitch this in a group setting," McDonald noted.

The inflation shift talk can start as soon as the Jackson Hole Economic Policy Symposium, which takes place yearly at the end of the summer, he added. "If you have a 35 trillion debt hole, you need interest rates below the inflation rate, where you are wiping out debt with inflation."

McDonald also weighed in on the state of the U.S. banking sector, warning of a massive M&A cycle coming. Watch the video above for details.

Move into hard assets

According to McDonald, the U.S. is in a world of persistent inflation, where all asset classes will see a "dramatic" re-pricing as capital flees from financial assets into hard assets.

"The moment [the Fed] tips its hand, this creates a really bullish scenario for hard assets," McDonald stated.

A commodity bull market will dominate the financial landscape, with several metals looking at significant upside. For McDonald's top commodity plays, watch the video above.

McDonald sees gold reaching $3,000-$3,500 an ounce in the next 12-18 months. But he is even more bullish on another precious metal, pointing to one ratio "screaming" to sell gold and buy this metal instead. For insights, watch the video above.

McDonald also shared his price outlooks for silver, platinum, oil, and natural gas. Watch the video above for price targets.

Kitco Media

Anna Golubova

Time to Buy Gold and Silver

Tim Moseley

Bitcoin On-Chain Activity Hits Historic Lows: Is the Bottom In?

Bitcoin On-Chain Activity Hits Historic Lows: Is the Bottom In?

By Newton Gitonga – May 12, 2024

In a week marred by continued volatility, Bitcoin, the leading cryptocurrency, has struggled to regain its footing, prompting questions among investors about the possibility of a market bottom. Despite a bullish rejection around $56,900 last week, optimism was short-lived as Bitcoin’s on-chain activity plunged to historic lows.

On Saturday, crypto analytics firm Santiment highlighted this development, emphasizing how Bitcoin’s on-chain activity has dwindled significantly in the two months since its all-time high, signaling widespread fear and indecision among traders.

“Bitcoin’s onchain activity is approaching historic lows as traders have dramatically slowed transactions… This isn’t necessarily a sign of more BTC dips, but rather a signal of crowd fear and indecision,” the firm wrote.

Further insights from a YouTube analysis by the firm’s analysts underscored concerns about the funding rate and a shortage of significant short positions, indicative of a prevailing fear in the market.

“Traders really don’t know what to do, they’re kind of sitting on their hands and waiting for a big move in one direction at this point,” remarked analysts, reflecting the widespread indecision gripping the cryptocurrency market.

Additionally, attention was drawn to the number of holders, which has flattened out historically. According to the analysts, while non-empty wallets are being created daily, this metric’s lack of significant growth during market flatness is seen as a sign of fear and indecision. They noted that they are closely monitoring this trend, particularly if the number of holders starts to decline, which could signal panic selling among traders and potentially foreshadow price rebounds.

Technically, popular markets analyst Maximillian noted that while Bitcoin experienced significant fluctuations, it is now approaching the $61,000 support level, which could either provide momentum for further declines or mark a potential turnaround point. In the short term, he emphasized the importance of overcoming the resistance level of $62,000 for sustained upward movement.

On Saturday, analyst Gareth Soloway pointed out that Bitcoin is consolidating within a parallel channel, a common occurrence following substantial price surges. Soloway highlighted two potential scenarios: a bear case and a bull case, depending on Bitcoin’s behavior within this channel.

In his bear case, Soloway cautioned that a downturn could be imminent if Bitcoin breaches the $57,500 support level and fails to recover swiftly. This could lead to a decline from $52,000 to $49,000, mainly if there’s a broader selloff in the stock market.

Conversely, in the bull case, Soloway emphasized the importance of Bitcoin maintaining its position within the parallel channel to sustain bullish momentum. He characterized the current consolidation phase as “bullish consolidation,” suggesting it sets a positive foundation for future price movements. If Bitcoin breaks above the upper boundary of the parallel channel, it could signal a continuation of the uptrend, potentially surpassing previous all-time highs.

Bitcoin was trading at $60,994 at press time, reflecting a 0.14% surge over the past 24 hours. According to CoinMarketCap data, the price has dropped by 3.50% over the past week.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Gold Price News: Gold Rises After US Jobless Figures

Gold Price News: Gold Rises After US Jobless Figures

Prices rose as high as $2,338 an ounce on Thursday, compared with around $2,310 an ounce in late deals on Wednesday.

US initial jobless claims figures released Thursday came in at 231,000 in the week to May 4th, well above market expectations of 210,000. A higher-than-expected rise in the number of people seeking unemployment benefits strengthens the call on the US Fed to slash interest rates to stimulate the economy.

Recent bets among interest rate traders have begun to coalesce around September as the most likely start for US interest rate cuts, with a majority expecting no change to monetary policy at upcoming meetings in June and July.

Lower interest rates tend to support gold prices because they weaken the US dollar, making gold cheaper for buyers in other currencies, as well as reducing the opportunity cost of holding non-yield-bearing assets.

Elsewhere, the World Gold Council issued a report Wednesday that highlighted a number of factors behind the new all-time high prices seen in April:

Gold Market Commentary: Higher-for-longer: Inflation not growth | World Gold Council

The industry group cited a positive flip in North American gold ETF flows which combined with strong Asian ETFs. Moreover, increased geopolitical risk, positioning in the Shanghai futures exchange and strong central bank buying all contributed to the higher prices in March and April, it said.

Looking ahead, the markets will be watching out for several speeches by US Fed officials on Friday for clues on the central bank’s view on the outlook for interest rates, especially in light of the recent surprise rise in jobless claims numbers.

Time to Buy Gold and Silver

Tim Moseley

Gold investors watching inflation data next week to see if this new momentum will last

Gold investors watching inflation data next week to see if this new momentum will last

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

Gold investors watching inflation data next week to see if this new momentum will last teaser image

After two weeks of consolidation, gold is attracting some new bullish attention after holding initial support at around $2,300 an ounce, according to some analysts.

Bouncing off its lows at the start of the week, gold is looking to end Friday near a two-week high. June gold futures last traded at $2,375.40 an ounce, up nearly 3% from last Friday’s close.

At the same time, silver has managed to push back above $28 an ounce after holding critical support levels. May silver futures last traded at $28,310 an ounce, up a solid 6% from last Friday.

Some analysts note that gold is benefiting from fluid interest rate expectations following disappointing economic data. Thursday, a jump in weekly jobless claims pointed to growing slack in the U.S. labor market and brought renewed focus to last week’s disappointing nonfarm payrolls report.

Friday, the Univerisity of Michigan’s preliminary consumer sentiment survey showed optimism falling to a five-month low, while inflation expectations rose to a nearly two-year high.

Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that it is not surprising that gold is seeing a renewed push to the upside as the market’s bullish conviction has not been tested during the two-week consolidation period.

“Now we see a technical break to the upside, supported by signs the U.S. labor market is cooling. With inflation being controlled, the expected number of U.S. rate cuts has been lifted to two from one,” he said.

However, some analysts warn that although markets are now pricing in two rate cuts this year, these expectations are extremely fluid.

Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, said he expects rallies in gold and silver to be sold in the near term.

“Traders do not have a clear signal from the Fed in relation to their monetary policy,” he said. “The job data and other economic numbers indicate that the economy is slowing down, but the Fed is still determined to keep rates higher for longer. All of this is bringing strength back to the dollar index and taking the shine away from the metal.”

Looking at the precious metals’ technical outlook, Alex Kuptsikevich, Senior Market Analyst at FxPro, said that the renewed momentum in gold and silver comes after both metals managed to hold key retracement levels.

“This week's upward momentum revives the idea that the decline in the second half of April was a corrective pullback,” he said.

However, Kuptsikevich added that although gold and silver are seeing robust moves higher, a lot of work still needs to be done to attract new capital and drive prices above the recent all-time highs above $2,448 an ounce.

“A further rise in the price of gold with high bond yields in developed countries, huge budget deficits in many countries, and the need to support the economy makes one think that the upside potential is limited,” he said. “Until gold and silver reach a new level, we doubt the success of a new attack on the highs and see the potential for a renewed decline.”

Although gold could continue to consolidate, Peter Granditch, renowned Financial Analyst and market strategist, said that risks for gold and silver remain to the upside as interest rates have peaked due to weakening economic activity. However, he added that investors should be patient.

“I’m hard-pressed to think gold can get much below its recent lows while the upside remains hundreds of dollars (if not more) higher,” he said in a comment to Kitco News. “I don’t think this leg up will be as hard and as fast as the one we saw earlier his year, but my long-standing target of $2,536 is most reachable this year.”

With renewed attention on economic fundamentals, some analysts note that next week will be critical to gold and silver’s potential recovery and drive to record highs.

Next week's main economic event will be the April Consumer Price Index after the Federal Reserve signaled that its fight against inflation has been insufficient as prices remain well above its 2% target.

“If [consumer] prices rise more strongly once more, the recent slight rise in interest rate hopes is likely to be dampened again. Gold should then fall back again,” said Barbara Lambrecht, precious metals analyst at Commerzbank, in a note Friday.

Along with U.S. CPI data, some economists have said that after the disappointing consumer sentiment data on Friday, U.S. retail sales data will also garner some market attention. Traditionally, consumers who are less optimistic about the health of the economy spend less, which will weigh on economic activity.

“The renewed slump in the University of Michigan consumer sentiment gauge to a six-month low is hard to explain given that gasoline prices are now falling again, the stock market is back close to a record high, and there is little evidence of any major downturn in the labor market,” Paul Ashworth, Chief North America Economist at Capital Economics, said in a note. “That leaves us wondering if we’re missing something more worrying going on with the consumer. We don’t think so, but next week’s April retail sales figures will provide more insight.”

Economic data to watch next week:

Tuesday: U.S. PPI, Federal Reserve Chair Jerome Powell to speak in Amsterdam, Netherlands

Wednesday: U.S. CPI, U.S. retail sales, New York Fed Empire State Survey

Thursday: U.S. weekly jobless claims, U.S. building permits housing starts, Philadelphia Federal Reserve manufacturing survey

Kitco Media

Neils Christensen

Time to Buy Gold and Silver

Tim Moseley

Bitcoin To The Moon Jack Dorsey Says BTC Price Poised To Hit 1 Million By 2030

Bitcoin To The Moon! Jack Dorsey Says BTC Price Poised To Hit $1 Million By 2030

By Brenda Ngari – May 10, 2024

Twitter co-founder Jack Dorsey believes that Bitcoin (BTC), the industry’s largest and oldest cryptocurrency, is on track to hit a massive $1 million within six years. Dorsey believes the BTC price will explode to seven figures and beyond by 2030.

Dorsey: $1 Million BTC Price Tag By 2030

Bitcoin’s recent recovery from sub-$57K lows comes amidst renewed belief in higher price levels to come in the long term.

Speaking during a May 9 interview with journalist Mike Solana on Pirate Wires, Jack Dorsey said he sees Bitcoin gaining over 100x from its current price. When asked whether the Bitcoin price would reach $1 million in 2030, Dorsey chuckled, “I don’t know. Over… at least a million.” He added, “I do think it hits that number and goes beyond.”

Bullish BTC price arguments focus on the cathartic effect of both April’s miner rewards halving and the successful spot Bitcoin exchange-traded funds (ETFs). While the halving lowers the emission of new BTC, the ETFs are already putting more pressure on the available supply.

For Dorsey, however, the collaborative nature of the ecosystem and the way it incentivizes collaborative efforts to improve the network is impressive. He called Bitcoin “a fascinating ecosystem and movement,” adding that “the most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up.”

Dorsey, now the head of the financial services firm Block, is well known for his years-long contributions to the Bitcoin sphere, with his payments firm Block making a substantial investment in the flagship cryptocurrency and creating products including Bitcoin wallets and a global BTC mining system. Having purchased Bitcoin in October 2020 and early 2021, Block now holds 8,027 BTC — worth roughly $4.9 billion at today’s prices.

Dorsey’s Block Doubles Down on Bitcoin Amid Federal Probe

In a letter to shareholders on May 2, Dorsey revealed that his fintech conglomerate Block will flip 10% of its monthly Bitcoin-related gross profit into buying more BTC, with plans to do this each month for the remainder of 2024.

However, Block has found itself in the crosshairs of U.S. prosecutors. A May 1 NBC News report claims that federal prosecutors are probing the firm after a whistleblower submitted documents alleging “widespread and years long compliance lapses” at the company’s payment arms, Square and Cash App.

The documents presented to prosecutors from the Southern District of New York by the ex-Block employee reportedly show that Square and Cash App processed thousands of transactions for customers in sanctioned countries like Russia, Cuba, and Venezuela.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

VitaPost Collagen Complex Review: Unveiling the Skin Health Benefits

VitaPost Collagen Complex Review: Unveiling the Skin Health Benefits

VitaPost Collagen Complex Review: Unveiling the Skin Health Benefits

VitaPost Collagen Complex provides a complete solution for people who want to increase their collagen intake with dietary supplements. Collagen is an important protein found throughout the body, and it is essential for maintaining healthy skin, bones, and connective tissues. The VitaPost formula is carefully designed to enhance the body's natural collagen production, providing a blend of essential amino acids and hydrolyzed collagen peptides.

A jar of VitaPost Collagen Complex surrounded by a variety of colorful fruits and vegetables, with a background of lush greenery and a clear blue sky

The product is known for being made in FDA registered facilities in the USA. Each batch is tested to make sure it's good quality. This gives customers confidence in what they're buying. By taking VitaPost Collagen Complex, people may see improvements in their skin, joints, and muscles. It's a good choice for many health and wellness goals.

KEY TAKEAWAYS

  • VitaPost Collagen Complex supports the body’s natural collagen production.
  • It is manufactured in the USA following strict GMP guidelines for quality and purity.
  • Regular supplementation may improve skin, joint health, and muscle mass.

UNDERSTANDING COLLAGEN COMPLEX

VitaPost Collagen Complex Review

Collagen plays a pivotal role in maintaining the structural integrity of various bodily tissues. VitaPost Collagen Complex is a supplement formulated to support this essential protein's functions in the body.

NATURE AND ROLE OF COLLAGEN IN THE BODY

The human body relies on collagen for the strength and elasticity of skin, bone, joints, and cartilage. It is the most abundant protein and is crucial for the interconnection of tissues such as musclesligaments, and tendons. Collagen's unique triple helix structure of amino acids provides tensile strength and durability. As the body ages, collagen synthesis declines, impacting overall health and mobility.

VITAPOST COLLAGEN COMPLEX COMPOSITION

VitaPost Collagen Complex contains hydrolyzed collagen peptides, which are smaller units of protein that the body can absorb more easily than standard collagen. The product utilizes bovine collagen peptides and marine collagen to offer a rich blend of types I, II, and III collagen. Each serving provides vital proteins and amino acids essential for the support of joint health and skin elasticity. Additionally, components like vitamin C are included to facilitate natural collagen production in the body.

The use of hydrolyzed collagen in VitaPost Collagen Complex ensures that the nutrients are readily available for the body's utilization. In terms of dosage, the product’s instructions should guide users on how much to take to effectively support their collagen levels. Regular supplementation may play a role in enhancing skin appearance, joint health, and overall tissue support.

HEALTH BENEFITS AND EFFICACY

VitaPost Collagen Complex Review

VitaPost Collagen Complex is designed to offer targeted support for various aspects of bodily health, emphasizing improvements to skin, nails, and hair, as well as bolstering bone and joint strength. These effects are primarily attributed to its role in collagen supplementation, addressing the natural decline in collagen production as one ages.

SKIN, NAILS, AND HAIR IMPROVEMENT

Collagen, a pivotal protein for the maintenance of skin elasticity and hydration, deteriorates as people age, leading to wrinkles and dryness. The VitaPost Collagen Complex has been noted for its capacity to enhance skin hydration and reduce fine lines, thus promoting healthy skin. Regular intake is associated with improvements in hair strength and a reduction in brittleness in nails, reflecting the intrinsic role of collagen in skin health and its appendages.

BONE AND JOINT SUPPORT: VITAPOST COLLAGEN COMPLEX REVIEW

Collagen is important for bone and joint health. It helps maintain bone support and density, as well as joint flexibility and mobility. The VitaPost Collagen Complex offers health benefits like increased joint flexibility and mobility, which are important for aging individuals and especially beneficial for women. This product aims to help with collagen synthesis, which is crucial for joint health and bone strength. To learn more about the product and how it compares to others, you can check out reviews on platforms like DermSpotlight.

CONSUMER CONSIDERATIONS

A vibrant collage of natural ingredients, such as fruits, vegetables, and herbs, surrounding a bottle of VitaPost Collagen Complex, evoking health and vitality

When evaluating VitaPost's Collagen Complex, potential buyers should consider the product's cost-effectiveness and customer testimonials to gauge its overall value and effectiveness.

PRICE AND VALUE FOR MONEY

VitaPost's Collagen Complex is competitively priced, aiming to offer premium quality at a cost that aligns with its benefits. Customers can purchase the supplement directly from the official website, where the price structure reflects the company’s commitment to providing value for the money spent. The Collagen Complex is manufactured in an FDA registered facility and adheres to GMP (Good Manufacturing Practices), ensuring that quality is not compromised for cost.

COLLAGEN COMPLEX REVIEWS AND CUSTOMER INSIGHT

The product is very popular and works well, according to customer reviews on different websites. Customers say it has helped their skin and joints, showing that many people are happy with it. VitaPost's clear refund policy also makes customers feel confident. These good reviews and strong policies show that the Collagen Complex is high-quality and that the company cares about its customers.

FREQUENTLY ASKED QUESTIONS VITAPOST COLLAGEN COMPLEX REVIEW

A bottle of VitaPost Collagen Complex surrounded by various natural ingredients like fruits, plants, and herbs, with a label showcasing the product name and logo

Before we get into details, it's important to know that collagen supplements, like VitaPost Collagen Complex, have become popular for their possible benefits for skin, joints, and more. Here are some common questions and simple answers based on what we know now.

WHAT ARE THE POTENTIAL SIDE EFFECTS OF TAKING COLLAGEN SUPPLEMENTS?

Collagen supplementation is generally considered safe for most individuals, but some may experience mild side effects. These can include digestive discomfort and a feeling of fullness. It's always wise to consult with a healthcare provider before starting any new supplement regimen.

WHICH TYPE OF COLLAGEN IS UTILIZED BY CELEBRITIES FOR THEIR SKINCARE ROUTINES?

Many celebrities opt for hydrolyzed collagen due to its easy absorption and bioavailability. The smaller collagen peptides found in hydrolyzed collagen are believed to be particularly effective in skincare routines.

HOW DOES COLLAGEN SUPPLEMENTATION BENEFIT OVERALL SKIN HEALTH?

Collagen supports the skin's structure and can help improve its appearance and delay signs of aging by taking collagen supplements. This is because collagen is an important part of the skin, contributing to its elasticity and hydration.

WHAT IS THE TYPICAL TIME FRAME TO NOTICE RESULTS FROM COLLAGEN COMPLEX INTAKE?

It varies from person to person, but users might begin to see noticeable improvements in their skin and joint comfort within 4-8 weeks of consistent collagen complex intake.

CAN COLLAGEN COMPLEX ASSIST IN JOINT HEALTH IMPROVEMENT?

Collagen, the magical potion for keeping your joints in tip-top shape! Forget WD-40, this stuff is what you need to maintain cartilage integrity and keep those joints well-oiled and creak-free. It's like the fountain of youth for your joints, helping to banish discomfort and keep things moving smoothly, especially for those of us experiencing a little wear and tear.

IS COLLAGEN COMPLEX SUITABLE FOR ALL SKIN TYPES?

Collagen supplements are generally suitable for all skin types, as collagen is a natural protein that makes up the skin's structure. Nevertheless, individuals with specific allergies or dietary restrictions should check the product ingredients carefully.

Tim Moseley

Gold Price News: Gold Dips As Mid-East Fears Ease

Gold Price News: Gold Dips As Mid-East Fears Ease

Gold prices edged slightly lower on Tuesday, coming under moderate downward pressure from an easing in geopolitical tensions in the Middle East.

Prices eased as low as $2,311 an ounce before regaining some of the losses to trade at around $2,317 an ounce by late afternoon. That compared with around $2,327 an ounce in late trades on Monday.

Palestinian militant group Hamas on Monday said it has accepted a proposal from Egypt and Qatar which involved a weeks-long halt to fighting in Gaza and the release of several dozen hostages. However, the latest proposal did not appear to meet Israel’s conditions for halting its military operations in Gaza.

The ongoing conflict between Israel and Hamas has injected a risk premium into gold prices, and any signs of a potential end to hostilities would be taken as a bearish signal for safe haven gold.

Gold prices did rebound slightly later on Tuesday, taking support from comments by US Fed officials overnight that kept alive hopes that the central bank may yet cut interest rates this year. Recent market expectations for the first rate cut have been pushed back to September, compared with an earlier target of June.

US 10-year treasury yields also edged lower on Tuesday, providing a supportive factor for gold prices.

In general though, gold prices have been range bound since the last week of April, showing little convincing momentum in either direction in recent days.

Looking ahead, Wednesday will see a flurry of speeches by US Fed officials, which will be closely watched for any signs of monetary policy changes. Then on Thursday, eyes will be on the US weekly initial jobless claims figures, for a pulse-check on the health of the US economy.

Time to Buy Gold and Silver

Tim Moseley

Gold silver up a bit in quieter two-sided trading

Gold, silver up a bit in quieter, two-sided trading

Gold and silver prices are just a bit higher in midday U.S. trading Wednesday, on some more backing and filling on the charts amid a lack of major, fresh fundamental news in the marketplace at mid-week. Traders are awaiting some fresh markets-moving fundamental news. June gold was last up $1.80 at $2,326.10. July silver was last up $0.156 at $27.70.

Reports said China’s central bank continues to stock up on gold reserves, adding 1.9 metric tons in April, making it 18 straight months for expanding its reserves. However, the reports said the pace of China gold buying has slowed.

The key outside markets today see the U.S. dollar index slightly up. Nymex crude oil prices are firmer after hitting a nearly two-month low overnight and are trading around $78.75 a barrel. The yield on the benchmark 10-year U.S. Treasury note is fetching 4.488%.

Technically, June gold futures bulls have the overall near-term technical advantage. A price downtrend is still in place on the daily bar chart, however. Bulls’ next upside price objective is to produce a close above solid resistance at $2,400.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,250.00. First resistance is seen at this week’s high of $2,341.90 and then at $2,350.00. First support is seen at today’s low of $2,311.40 and then at $2,300.00. Wyckoff's Market Rating: 6.5.

July silver futures bulls have the overall near-term technical advantage. A price downtrend on the daily bar chart has stalled. Silver bulls' next upside price objective is closing prices above solid technical resistance at $29.00. The next downside price objective for the bears is closing prices below solid support at last week’s low of $26.255. First resistance is seen at $28.00 and then at $28.25. Next support is seen at today’s low of $27.24 and then at $27.00. Wyckoff's Market Rating: 6.0.

July N.Y. copper closed down 645 points at 454.10 cents today. Prices closed near mid-range today. The copper bulls have the solid overall near-term technical advantage. Prices are in a three-month-old uptrend on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 480.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 440.00 cents. First resistance is seen at 460.00 cents and then at this week’s high of 464.50 cents. First support is seen at 450.00 cents and then at last week’s low of 446.60 cents. Wyckoff's Market Rating: 7.5

Kitco Media

Jim Wyckoff

Time to Buy Gold and Silver

Tim Moseley

Bitcoin Settles Into 62000 As Traders Set Their Sights On 100000 Backed By Bullish Fundamentals

Bitcoin Settles Into $62,000 As Traders Set Their Sights On $100,000, Backed By Bullish Fundamentals

By Aliyu Pokima – May 8, 2024

After a torrid week, Bitcoin’s (BTC) price settled at around $62,000, with traders bracing for a continuous rally that could send asset prices to $100,000.

Only last week, prices dipped below $60K for the first time in two months, fuelling grim speculation for a sustained selloff that could drive prices even lower. However, things began to look promising for the largest cryptocurrency as May rolled on, with BTC climbing as high as $64K before settling at $63,000.

Right out of the bat, BTC’s upswing can be traced to a wave of positives, including a disappointing macroeconomic outlook in the US. According to reports, the US added only 175,000 jobs in April – a far cry from the 315,000 reached in March, fuelling a hawkish stance by the Feds.

Following the FOMC meeting at the start of April, pundits observed a reluctance by policymakers to cut interest rates while hinting toward quantitative tightening.

“We believe that the FOMC’s more dovish-than-expected statement has signaled the peak in the USD’s upward momentum against both foreign currencies and crypto pairs,” wrote one analyst.

Despite the promising outlook, the ex-CEO of BitMEX Arthur Hayes warned investors to brace for a dip in the near future before an uphill climb to higher prices. However, Hayes remained cautious in his prediction, eyeing prices to hover around $60K and $70K before breaking the resistance to post higher figures.

Traders are already rippling with enthusiasm for higher prices as evidenced by rising numbers of active bitcoin call contracts, placing the asset on the path to the least resistance. According to QCP Capital, the buildup of call options has seen investors anticipating prices as high as $100K before the end of the year.

“We are seeing some bullish follow-through in volatility and rates following the reversal bounce from Friday and into the weekend,” read a note from QCP Capital. “BTC risk reversals have gone positive (calls more expensive than puts), and there has been a renewed demand for BTC Sep expiring $75,000 and $100,000 calls.”

Other factors in favor of a BTC rally include the US election cycle and a weaker dollar index, which has fallen by 1.2% since the last FOMC meeting. For Ledn CIO John Glover, BTC’s price could climb as high as $92,000, but first investors should brace for a pullback as low as $52K.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Aliyu Pokima and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Modest downside corrections for gold silver

Modest downside corrections for gold, silver

KGold and silver prices are posting mild losses in subdued midday U.S. trading Tuesday, on corrective pullbacks after Monday’s decent gains. A firmer U.S. dollar index on this day is a mildly bearish “outside-market” force working against the precious metals market bulls. June gold was last down $10.00 at $2,321.30. July silver was last down $0.089 at $27.525.

Risk appetite was not dented much Tuesday, at least not yet, after Israel said it had taken control of part of the southern city of Rafah in the Gaza strip near the Egyptian border. The stepped-up Israeli military operations in Gaza come as there had been better hopes a ceasefire between Israel and Hamas might be imminent.

The key outside markets today see the U.S. dollar index modestly higher. Nymex crude oil prices are near steady and trading around $78.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is fetching 4.429%.

Technically, June gold futures bulls have the overall near-term technical advantage. A price downtrend is still in place on the daily bar chart, however. Bulls’ next upside price objective is to produce a close above solid resistance at $2,400.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,250.00. First resistance is seen at this week’s high of $2,341.90 and then at $2,350.00. First support is seen at $2,300.00 and then at last week’s low of $2,285.20. Wyckoff's Market Rating: 6.5.

July silver futures bulls have the overall near-term technical advantage. A price downtrend on the daily bar chart has stalled. Silver bulls' next upside price objective is closing prices above solid technical resistance at $29.00. The next downside price objective for the bears is closing prices below solid support at last week’s low of $26.255. First resistance is seen at today’s high of $27.77 and then at $28.00. Next support is seen at $27.25 and then at $27.00. Wyckoff's Market Rating: 6.0.

July N.Y. copper closed down 45 points at 461.05 cents today. Prices closed near mid-range today. The copper bulls have the solid overall near-term technical advantage. Prices are in a three-month-old uptrend on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 480.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 440.00 cents. First resistance is seen at today’s high of 464.50 cents and then at the April high of 469.45 cents. First support is seen at this week’s low of 453.55 cents and then at 450.00 cents. Wyckoff's Market Rating: 7.5.

Kitco Media

Jim Wyckoff

Time to Buy Gold and Silver

Tim Moseley

The Artist that came out of the Winter