Gold Price News: Gold Ends Higher As Bond Yields Ease

Gold Price News: Gold Ends Higher As Bond Yields Ease

gold-news-feature-image-Gold-Ends-Higher-As-Bond-Yields-Ease

Gold prices ended slightly higher on Thursday in a volatile session, after falling US treasury yields helped lift prices back up off an earlier low.

Prices initially fell as low as $2,323 an ounce before rebounding strongly to reach $2,352 an ounce later in the session. That compared with around $2,339 an ounce in late trades on Wednesday.

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US 10-year treasury bond yields fell back on Thursday, easing from a four-week high seen on Wednesday, and helping gold rebound off the earlier lows to notch up a slight day-on-day gain.

US economic data came in on Thursday which was mostly in line with market expectations, providing little convincing impetus for gold prices.

US GDP growth figures for Q1 came in at 1.3%, level with expectations, while weekly initial jobless claims figures came in at 219,000 in the week to May 25, very close to an expected figure of 218,000.

Elsewhere, data from interest rate traders indicates an expected probability that the first US interest rate cut will come in November. This compares with expectations earlier in the year that the US Fed would start cutting rates before the summer, and make up to three cuts in 2024 in total. That now looks much less likely, as central banks are under pressure to maintain existing rates to bring inflation down towards target levels.

Meanwhile, Chinese investment demand for physical gold has been strong in recent months, with Chinese gold exchange-traded products showing inflows for five consecutive months, according to a May report by asset management company WisdomTree: WisdomTree Gold Monthly GB | WisdomTree Europe. April was the strongest month on record, attracting $1.3 billion and pushing total assets under management to a historical high of $6.4 billion, it said.

Looking ahead, the markets will be watching out for the US Core PCE Price Index figures for April on Friday, which are expected to show a 0.3% gain in April compared with March.

Kitco Media

Frank Watson

Time to Buy Gold and Silver

Tim Moseley

Market experts and retail traders align once again with a majority predicting gold price recovery

Market experts and retail traders align once again with a majority predicting gold price recovery

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.

While gold prices did manage to move higher during the first half of the shortened Memorial Day week, the days were mostly characterized by a march toward Friday’s PCE report, with precious metals investors looking to the Fed’s preferred inflation metric to gauge the likely path of interest rates, and the prospects for further gains for gold.

After opening the week trading at $2,334 per ounce, spot gold managed to hit a high just a couple of dollars short of $2,360 during Monday's Memorial Day holiday, but it failed to hold above $2,350 during the evening session. The return of American markets the following morning brought renewed enthusiasm for the precious metal, driving it to the weekly high of $2,361.45 by noon Tuesday. But once again, the bulls ran out of momentum and overnight trading saw the price fall precipitously, which began gold's steady decline to a new weekly low of $2,325.06 early Thursday morning.

The precious metal bounced hard off this level, however, and by the start of Thursday's North American session, gold was once again within a dollar of $2,350 per ounce. Thereafter began the wait for Friday morning’s PCE report, which brought renewed drama to precious metals markets, driving gold from $2,344 per ounce a half hour before the 8:30 am release to its daily high of $2,359.72 15 minutes afterward.

But as had been the case on Monday and Tuesday, the bulls once again ran themselves to exhaustion, and gold prices fell all the way to a fresh weekly low of $2,320.59 per ounce shortly after 3:00 pm EDT.

The latest Kitco News Weekly Gold Survey has industry experts and retail traders aligned on gold’s near-term prospects, with a majority seeing gains while equal minorities hold a neutral or negative position.

“I’m sticking with up for this week as sellers had an open door to force a breakdown and they haven’t been able to,” said James Stanley, senior market strategist at Forex.com. “The weekly bar in spot Gold is showing as a doji and there remains a lot of support structure underneath current price, and that’s what sellers were unable to drive through this week. And gold futures finished with a bearish engulf in the prior week and that similarly failed to show follow-through.”

“We could be nearing a turn,” Stanley added, “but until that support structure is violated, I’m going to bias with what’s been the dominant trend.”

“Up,” said Adrian Day, President of Adrian Day Asset Management. “Gold still has further to go in its recovery from the mid-month drop, and somewhat cooler inflation numbers in the U.S. will help support the case for the Federal Reserve to cut rates.”

Ole Hansen, head of commodity strategy at Saxo Bank, said he’s adopting a neutral stance for next week. “Rangebound for now, with risk slightly skewed to the upside,” he said.

“Down,” said Darin Newsom, Senior Market Analyst at Barchart.com. “While the more active August futures contract has technically completed its 3-wave short-term downtrend, it is not showing a bullish reversal pattern through early Friday morning. This leaves the door open to continued pressure early next week. However, technical analysis has to come with an asterisk given the increased chance of chaos tied to China and Russia this coming weekend. As a safe-haven market, this could spark new buying in gold markets ahead of Friday’s close.”

Sean Lusk, co-director of commercial hedging at Walsh Trading, was unpacking the different factors that led to the gold price decline on Friday.

“’m bullish still… I’m a little surprised,” he said about the pullback. “We're at month-end here, so how much of this is just some unwinding? You had a lot of longs in the June contract, so I understand that, prior to option expiration and first notice, you've had a retreat in price. That wasn't a surprise, it was expected.”

“I think interest rates for near term here may have topped, and I think if you have that, you're going to pressure the dollar, and maybe [gold prices] start to work back higher,” Lusk said. “However, Chinese manufacturing came out weak, which hit copper. Some of the industrial metals have given back here, but silver's still holding $30 on the break.”

“I just feel that these breaks are eventually going to be buying opportunities across the board,” he added, looking at the commodities complex as a whole. “You just can't get any traction in crude oil. And there's some real worry about the equities. They've come off here quite a bit, particularly the Dow Jones hitting over 40,000, we just broke 2000 points. NASDAQ has just gotten whacked here. So I don't know… if this starts to leg lower in the equities, does it pull everything else with it? That's the issue.”

“All this talk of raising rates, let's just throw that out,” Lusk said. “I think we go back to more of the buy-the-dips mentality here in commodities overall. Bond yields are going to start to come off here a little bit, I think the tops are in. I just think that with housing, pending home sales, nothing's moving, and I don't see that getting any better until rates come down a little bit. They're going to bring the talk back to rate cuts rather than rate hikes, which is really what turned the stock market around recently.”

“We're going to get another whole slew of data here,” Lusk added. “I think we're going to have a shift change in sentiment coming soon, given the fact that maybe yields have topped, and futures are going to get a lift, and that's going to put pressure on the dollar where rallies are sold in the dollar.”

This week, 10 Wall Street analysts participated in the Kitco News Gold Survey, and a solid majority have returned to the bullish camp with six experts, representing 60%, expecting to see gold prices climb higher next week. Two analysts, or 20%, predicted a price decline, and the same number see gold trending sideways as it waits for direction during the coming week.

Meanwhile, 222 votes were cast in Kitco’s online poll, with Main Street investors mirroring expert sentiment this week. 128 retail traders, or 58%, look for gold prices to rise next week. Another 53, or 24%, expect they will be lower, while 41 respondents, representing the remaining 18%, expect prices to remain rangebound during the week ahead.

Next week promises a return to a more normal rhythm of economic news releases. On Monday, markets will receive the S&P global manufacturing PMI and the ISM manufacturing PMI for May. Then on Wednesday, the Bank of Canada will announce its interest rate decision, with economists predicting a quarter-point cut, and shortly afterward, markets will receive the ISM services PMI for May.

Thursday morning brings the ECB interest rate decision, with markets priced in for a 25 basis point cut to the benchmark interest rate, along with weekly jobless claims. And Friday morning, markets will await the release of May's nonfarm payrolls report.

“The week ahead features possible rate cuts by the ECB and the Bank of Canada, and US jobs data,” said Marc Chandler, Managing Director at Bannockburn Global Forex. “Spot gold consolidated between roughly $2322 and $2364 last week. Still, it has advanced in five of the last six sessions. The momentum indicators look poised to turn higher.”

“I like it higher,” Chandler said. “A move above $2372 could signal a retest on $2400.”

Everett Millman, Chief Market Analyst at Gainesville Coins, was looking past this week’s near-term volatility to the medium-term drivers that are likely to dominate gold’s price action between now and the fall.

“I definitely agree that the end-of-month volatility we're seeing is typical,” he said. “That's more of a trading dynamic than anything else, so I don't think it speaks very strongly to what's driving the gold market overall.”

“It is true that the summer season is usually quite bad for gold,” Millman said. “Those are the dog days of summer where typically we expect to see gold prices, at minimum trade sideways, if not drift lower. But that's under normal circumstances. I think that much of what gold has done this year bucks the normal trend on every front. The Fed has been consistently hawkish and rate cut expectations seem to be fluctuating. They definitely have been volatile in their own right. So I think it's difficult to point toward a direct line between Fed expectations and what gold is doing.”

Millman said his general take is that gold is responding to the uncertainty surrounding the rate path itself, rather than any sense of what that path might be.

“If we go from 70 percent expectation of a September rate cut to 30 percent, back and forth, it speaks to the fact that the market still doesn't have a strong hold on what it expects the Fed to do,” he said. “I think that will be the big story over the summer. How do the Fed rate cut expectations change between now and when we get closer to September? I don't think anybody really knows. You could make a pretty compelling argument that even the FOMC members don't seem to know exactly where things are going to go.”

Millman said that in the absence of anything else changing, the gold market will continue to try to read the collective mind of the Fed. “Obviously, all of the macro geopolitical factors are still there, but I think gold has mostly baked in all of that stuff, he said. “That's why we're still sitting above $2,300 now.”

“Fed policy, and how the economy holds up, I think, is going to be the big driver over the summer for gold.”

“Bull,” said Mark Leibovit, publisher of the VR Metals/Resource Letter. “Hanging in there.”

“We are likely in higher timeframe bearish correction against the move up from 19001,” said Michael Moor, Founder of Moor Analytics. “The trade below 24343 (+1.3 tics per/hour) has brought in $113.5 of pressure. These roll into the (Q) and are ON HOLD. In (Q) we are currently holding exhaustion warned about at 23447 with a 23433 low and have rallied $30.4. The trade above 23594 (-6 per/hour) now warns of decent strength. Decent trade back below where this comes in at 23452 (-6 tics per/hour starting at 9:20 am EST) will warn of decent pressure and take bear calls OFF HOLD.”

And Kitco Senior Analyst Jim Wyckoff sees gold prices staging a recovery next week. “Steady-higher as charts still bullish,” he said.

Spot gold last traded at $2,327.20 per ounce at the time of writing, down 0.69% on the day and down 0.29% on the week.

Kitco Media

Ernest Hoffman

Time to Buy Gold and Silver

Tim Moseley

Gold Price Forecast June 2024

Gold Price Forecast – June 2024

Key Takeaways

Gold Hits Another High in Bumpy Markets

Gold Rises on Growing Geopolitical Tension

US Rate Headwinds Persist, but Euro to the Rescue

Technical Analysis

Key Drivers in June

Mike Ingram

Gold News

Market Analysis
 

Key Takeaways

Gold appears to be one of the few assets that reflects rising geopolitical risk, reaching another all-time high.

The European Central Bank is now set to lead interest rates and the US dollar lower.

Gold’s technical position is currently critically poised as it negotiates a potential bear flag.

Gold Hits Another High in Bumpy Markets

Gold was essentially flat in volatile trading in May, reaching yet another all-time high above $2,400/toz in the latter half of the month before profit-taking set in, triggered by a more hawkish US rate outlook.

Gold Rises on Growing Geopolitical Tension

Rising geopolitical risk continues to be a major support for gold. May saw a further round of trade sanctions between the US and China, ostensibly aimed at curtailing import dumping and protecting domestic manufacturing. China also retaliated to US measures targeting China’s support of the Russian war in Ukraine, with sanctions targeting US support of both Ukraine and Taiwan. In Taiwan itself, China launched surprise military exercises aimed at harassing the inauguration of Taiwan’s new pro-independence president.

Meanwhile, in Europe, Russia has made advances in a surprise Spring offensive against Ukraine and the conflict in the Middle East has continued to escalate. Both have exposed deep divisions within the international community and are set to play a part in the forthcoming elections in Europe, the UK, and the US. There are no clear markers for an abatement of these risks – in fact, quite the opposite.
 

Despite this proliferation of geopolitical tension, there is little sign that this is uniformly priced into asset markets. Crude oil prices softened over the month, while it appears investor flows still favour risky assets (equities, cyclicals, and high-yield debt) in the face of global instability and despite institutional investors citing geopolitics as a ‘tail risk’. It remains to be seen how this apparent inconsistency will be resolved.
 

US Rate Headwinds Persist, but Euro to the Rescue

The prospect of the US starting to cut interest rates took a further backstep in recent weeks, with inflation and growth data within the most recent US Purchasing Managers Index (PMI) causing investors particular concern. Supported by continued hawkish Fed minutes and rhetoric, markets have further pared their expectations of a rate cut by September’s meeting to c. 45%, according to CME FedWatch.

 

Despite this, we note that US bond markets have ended the month much as they started and it is arguable that with so little now priced in, the scope for a further bearish rate impact on gold is now limited. Moreover, it now seems likely that it is the European Central Bank (ECB), rather than the Fed, that will lead the global interest rate cycle downwards, with a rate cut seen as coming as early as the ECB’s 6 June meeting.

Markets have reacted by marking up the Euro some 2% against the US Dollar over the last month, which is somewhat supportive of gold.

Technical Analysis

Momentum indicators suggested that gold entered May mildly oversold, and these quickly recovered in the first half of the month. However, gold reached overbought territory on 20 May while registering another all-time high at $2,445/toz. This was confirmed by a subsequent steep decline, bottoming out on 24 May near $2,325/toz, breaking both the 100-day and 200-day Simple Moving Averages.

Gold is currently struggling to negotiate a bear flag, in a range of $2,341/toz – $2,359/toz. A break below the previous low of $2,325/toz, might imply further downside towards $2,300/toz and $2,270/toz based on Fibonacci retracements of the break from the high. Proximate resistance is seen at the current 50-day 100-day Simple Moving Averages at $2,360/toz and $2,381/toz respectively.
 

Key Drivers in June

Key data points that will impact gold’s technical position going forward include the US Manufacturing PMI on 3 June, ECB rate decision on 6 June, US Non-Farm Payrolls on 7 June, the Fed rate decision – and more importantly the corresponding updates to economic forecasts and ‘dot plot’ – together with a raft of US inflation data, all on 12 June.

Gary Wagner

Time to Buy Gold and Silver

Tim Moseley

Gold Tumbles as Stronger Dollar Rising Yields Cast Doubt on 2023 Rate Cuts

Gold Tumbles as Stronger Dollar, Rising Yields Cast Doubt on 2023 Rate Cuts

Gold prices fell sharply on Thursday, as U.S. dollar gains and climbing Treasury yields sparked concerns over the Federal Reserve's anticipated path of interest rate cuts this year.

The precious metal's decline came ahead of a critical inflation report due on Friday, with investors bracing for potential surprises that could force the Fed to recalibrate its monetary policy outlook.

At the center of attention is the Personal Consumption Expenditures (PCE) price index for April, set to be released by the Bureau of Economic Analysis (BEA). The core PCE is the Fed's preferred inflation gauge, capturing changes in consumer spending across a wide range of goods and services.

Treasury yields surged on Thursday, reflecting muted demand at this week's $183 billion bond auctions, as investors grew wary of persistent inflationary pressures amid improving economic growth prospects.

Minneapolis Fed President Neel Kashkari's comments, which did not rule out another rate hike, had a strong impact on market sentiment. Yields climb, with the 10-year note yield reaching a one-month high of 5.471% and the 2-year note yielding 4.958%.

According to the CME's FedWatch tool, markets are pricing in a near-certainty that the Fed will maintain its current benchmark interest rate of 5.25%-5.5% at the June meeting. However, the probability shifts substantially in favor of rate cuts later in the year, with a 12.3% chance of a cut in July and a 47% chance in September.

As of 6:50 PM ET, the gold futures contract for August 2024 is currently fixed at $2,359, down $15.20 or 0.64%, and an additional decline of $4.70 (0.20 %) in Australia. The U.S. dollar index gained 0.51% to 105.164, a major factor in gold’s price decline today.

All eyes are now on Friday's PCE report, which will likely shape the Fed's future policy decisions. Market participants are also eagerly awaiting the central bank's updated economic projections and "dot plot" forecasts for interest rates, due after the June 12 FOMC meeting. The current "dot plot" envisions three rate cuts this year, a scenario that could be revised based on incoming data.

Kitco Media

Gary Wagner

Time to Buy Gold and Silver

Tim Moseley

Altseason Earthquake

XRP, Solana, Ether, Cardano, Shiba Inu Poised For $1 Trillion Altseason Earthquake

By Olivia Brooke – May 29, 2024

Market participants are observing a turnaround in the cryptocurrency market. While Bitcoin has continued to sustain its bullish momentum, the apex cryptocurrency isn’t the star of the show; altcoins are. Per analysts’ sentiments, altcoins Ether , XRP , Solana , DOGE , Cardano , and Shiba Inu are gearing up for a massive price rally.

On many occasions, during a market cycle, altcoins have historically outperformed Bitcoin, and analysts are convinced that market indicators are now collectively validating a highly promising run referred to as altcoin season.

Pseudonymous analyst CryptoJelleNL was one the first key players to note that technical, analytical data has flashed a positive signal for altcoins.

Further strengthening this position, a crypto analytics platform CryptoQuant analyst asserts that the altcoin season could kick off much earlier than the market anticipates.

Should Ethereum’s price follow a particular trajectory, altcoins could easily flip Bitcoin’s run in the coming weeks.

“Ethereum is surpassing Bitcoin in the growth of open interest in the current period. Are we approaching altcoin season? If Ethereum’s price continues to consolidate in the current range, it’s very possible that the altcoin season will start sooner than expected.” the analyst wrote.

On-chain activities validate the market’s bullish outlook on altcoins

Meanwhile, a handful of altcoins seem to have met and surpassed market expectations. ETH being one such asset, has been on the run since the SEC gave its stamp to Ethereum ETF applications.

Last week, ETH soared by 22% as the hype of Ethereum-based ETFs soared. ETH’s futures market has also depicted remarkable activity. CryptoQuant notes that the preference for Ethereum has been spotlighted in “the increase in the ETH-BTC Open Interest ratio from 0.54 to 0.67.”

Even more importantly, permanent ETH holders are making purchases of more than 100,000 ETH, the highest daily level observed since 2023.

Similarly, DOGE, the most valued meme coin by market cap, is preparing to test new resistance levels.

As cryptocurrency analyst Ali Chart explained in a recent post shared with X:

“Dogecoin is encountering significant resistance between $0.166 and $0.171, where 75,500 addresses have acquired nearly 10 billion $DOGE. However, once this barrier is overcome, #DOGE has the potential to double, with the next key resistance around $0.322.”

The on-chain movement also highlights crypto whales and sharks’ heightened accumulation of altcoins like ETH, XRP, SOL, ADA, and LINK.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Olivia Brooke and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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Tim Moseley

Gold futures shine bright with a strong gain forming a 3 river morning star

Gold futures shine bright with a strong gain, forming a "3 river morning star"

Gold futures shine bright with a strong gain, forming a "3 river morning star" teaser image

Gold futures rebounded strongly after last week's price pullback. As of 4:55 PM ET, gold futures for the June 2024 contract surged $27.10, settling at $2,361.80.

With the June contract nearing its first notice day, the August 2024 gold futures contract will soon become the most actively traded. Currently, the August 2024 contract is up $27.40, trading at $2,384.30. Multiple factors have been driving gold's ascent to record highs. While some analysts attribute the precious metal's rally to dollar weakness and declining U.S. Treasury yields, our analysis suggests that geopolitical and macroeconomic influences have played a more significant role.

Ongoing military conflicts in the Middle East and the Russia-Ukraine war continue to fuel geopolitical uncertainty, bolstering gold's safe-haven appeal.

Additionally, central banks worldwide have been steadily increasing their gold holdings over the past two years, with China's central bank among the most aggressive buyers.

China's consumer demand has also been a major catalyst for gold's recent surge. According to UBS, "A significant driver of the surge in gold prices has been the robust increase in China's gold demand, particularly evident in the first quarter of 2024.

Chinese consumers have demonstrated an unprecedented appetite for gold jewelry, with purchases reaching record levels. This surge in demand from China has significantly contributed to the upward trajectory of gold prices and is expected to continue supporting prices in the near term."

Gold investors and traders have remained active buyers on price dips, supporting the precious metal's pricing at these new highs.

On the daily chart, a simple Japanese candlestick pattern called a "Three River Morning Star" has emerged. This pattern, formed after a price decline, can be a strong indication of a key reversal from bearish to bullish.

The pattern consists of a large red candlestick within a defined downtrend, followed by a small-bodied candle (either red or green) that opens and closes below the first red candle. The final candle is a large green candle that opens above the middle candle and closes above the center of the body of the first candle.

With gold's recent strength and the formation of this bullish reversal pattern, the precious metal's upward momentum could continue to shine in the coming sessions.
 

Kitco Media

Gary Wagner

Time to Buy Gold and Silver

Tim Moseley

Effective Strategies for Making Money Online Without Excessive Work

Effective Strategies for Making Money Online Without Excessive Work

These are some ideas that will make it easy to generate income online.

Those who work hardest often achieve great success. While it may require many hours each day to earn a significant amount of money, the results can be impressive. This guide will help you with ideas for making money online without working excessively hard.

These are some ideas that will make it easy to generate income online

BEFORE DECIDING: GENERATE INCOME ONLINE

Before deciding to provide them practically any information or dedication, you should take the time to carefully examine any website that you find online. When there are multiple options to earn money from just behind a check, however, there will be a good number of unscrupulous individuals prepared to take advantage of the situation. It is important to be aware of the owner of a website, to be certain that the website is safe, and to first observe what other people have to say about it.

KEEP IN MIND: GENERATE INCOME ONLINE

Keep in mind that making money online is a game that will endure forever! When it comes to the flow of income made through the internet, nothing happens fast. The process of constructing your choice will take some time. Try not to become disheartened. You might be able to make a significant improvement if you work on it every day. The keys to success will be achieved through a combination of perseverance and determination!

ecosystem for entrepreneurs

You may try conducting some research on the internet. You will not make as much money as you would with certain other types of online work. This is because the amount of money you make will be significantly lower. In most cases, these online surveys do not require a significant amount of time, and as a result, they typically only ask for your opinion. Individuals' cents can soon add up to a small bit of extra money if they enroll in a legitimate questionnaire website.

THERE IS THE POSSIBILITY OF SELLING SOME OF THE DIGITAL PHOTOS

If you create digital photos, you can sell them online to attract customers. Start by posting your products on Craigslist or a smaller website to gauge interest. If you build a large following, consider moving to a more popular site.

TAKE INTO CONSIDERATION THE ACTIVITIES

Take into consideration the activities that you are already engaged in, whether they are responsibilities or interests, and look for advice on how to put those skills to use on the internet. In the event that you manufacture clothing for your children, you should make a couple of each and every item, and then offer the extras on the international market. Do you enjoy baking? If you make your skills available to people through a website, they will be more likely to hire you.

TAKE INTO CONSIDERATION THE POSSIBILITY OF PURCHASING AND SELLING INTERNET DOMAIN NAMES

Take into consideration the possibility of purchasing and selling internet domain names, unless you are interested in investing a significant amount of money into your internet business. Most of the time, you should invest in a domain while its value is at its rock and roll bottom. After that, you should sell it off for any profit you can get. Important to keep in mind that you should look for information and figure out which domain names are currently looking for.

If you want to make money online, join relevant forums and blogs. Spend 20% of your time learning about the internet industry and 80% managing it. Reading weblogs is a fun way to learn about new opportunities and helpful tips.

IF YOU ARE INTERESTED IN MAKING ADDITIONAL MONEY

If you want to earn extra money, consider signing up for a data entry job. These jobs take time, but they can add up over time and don't require a lot of expertise. Plus, you can work from home, which is a great benefit.

ecosystem for entrepreneurs

Though putting in a lot of effort may offer you a lot of rewards, putting in a lot of effort properly will provide you the task-existence steadiness you have been dreaming of. With the help of these suggestions, you will be able to improve the effectiveness of your work done online. Consider putting each and every one of these suggestions into action right now because the more effective they are, the more of an impact you will obtain from putting them into action. website on the internet

https://rtateblogspot.com/2024/05/18/how-allsolutionsnetwork-com-works/

Tim Moseley

Gold and silver both poised to resume uptrend after last week’s correction Saxo’s Larsson

Gold and silver both poised to resume uptrend after last week’s correction – Saxo’s Larsson

Precious metals saw a sharp bearish correction last week, but prices are rebounding this week with silver leading the pack, according to Kim Cramer Larsson, Technical Analyst at Saxo Bank.

“Gold (XAUUSD) seems to be bouncing from the cloud (shaded area—the Ichimoku Cloud) between the 0.618 and the 0.786 retracement, and the minor support at around 2,326,” Larsson wrote. “A dip down to the 0.786 retracement at 2,314 could still occur before rebounding.

Larsson said that if the gold price breaks above $2,385 per ounce, the prior uptrend is likely back on track with potential to target $2,500. “The 55-day moving average will add to the bullish support,” he said, whereas “A close below 2,277 confirms a downtrend.”

He added that the RSI is indicating a divergence, which suggests that the uptrend could be in exhaustion mode. “However, a close back above the 60 threshold and above the upper falling trendline would be a strong indication of another bullish push in gold,” he said.

Turning to silver, Larsson noted that spot silver (XAGUSD) has bounced from the 0.382 Fibonacci retracement at $30 per ounce, and he believes the gray metal is likely to resume its uptrend.

“Daily RSI is still showing positive sentiment with no divergence, indicating silver could push to levels above 32.52,” he wrote.

Looking at the weekly chart, Larsson said that “If it takes out 32.52, there is no strong resistance until around 34.40–35.40.”

“A break below 30 could continue the correction down to the 0.618 retracement at 28.50,” he concluded.

Gold prices are continuing to hold their earlier gains, with spot gold last trading at $2,351.37 per ounce for a gain of 0.74% on the session.


 

Silver, meanwhile, continues to lead the metals complex on Monday, with spot silver last trading at $31.522 per ounce, up nearly 4 full percentage points on the daily chart.

Kitco Media

Ernest Hoffman

Time to Buy Gold and Silver

Tim Moseley

Link Building Providers: Enhancing Visibility and Success for Online Businesses

Link Building Providers

Link Building Providers: Enhancing Visibility and Success for Online Businesses

Link building is an essential strategy in the realm of search engine optimization (SEO), playing a crucial role in enhancing a website's visibility and credibility on the internet. It involves the process of acquiring hyperlinks from external websites that point back to your own site. A proficient link building strategy can significantly contribute to a higher ranking on search engines, which is an instrumental factor in driving organic traffic, broadening brand exposure, and ultimately contributing to the growth and success of an online business.

A computer screen displaying a website with various backlinks leading to it, surrounded by icons representing different link building services

Choosing the right link building services is pivotal for ensuring that the links established are of high quality and relevance. Services that specialize in link building understand the intricacies of creating a network of valuable links, which not only improves SEO performance but also funnels a more targeted audience to a business's website. Engaging with reputable link building agencies allows businesses to leverage expert knowledge and specific strategies that align with their niche and business goals.

KEY TAKEAWAYS

  • Link building is vital for SEO and increasing online visibility.
  • High-quality link building services can direct targeted traffic to websites.
  • Employing expert strategies ensures effective link development.

FUNDAMENTALS OF LINK BUILDING FOR ONLINE BUSINESSES

Link building serves as a critical mechanism in enhancing the online visibility and authority of a business. By leveraging strategic connections, companies can solidify their reputation and positioning on search engine result pages.

UNDERSTANDING LINK BUILDING AND ITS IMPACT ON SEO

Link building is the process of acquiring hyperlinks from other websites to your own. These hyperlinks, commonly known as backlinks, are pivotal in Search Engine Optimization (SEO). They function as a vote of confidence from one site to another; the more substantial and high-quality these votes are, the more they benefit a site's ranking on search engines like Google. It is a significant ranking factor that search engines use to gauge the authority and relevance of a website. Sites with a plethora of quality backlinks typically display higher domain authority and are perceived as more credible and informative by search engines, thus improving their search engine rankings.

EXPLORING THE IMPORTANCE OF QUALITY BACKLINKS

Not all backlinks are created equal, and the importance of quality backlinks cannot be overstressed. High-quality backlinks come from reputable websites with substantial domain authority themselves. These sites are recognized as trustworthy and influential within their respective niches. When such reputable sites link to a business's website, they pass on a portion of their authority, improving the receiving site's credibility in the eyes of Google. Consequently, a focus on obtaining quality backlinks should be paramount in any link building strategy, as they are more efficacious than a larger number of low-quality links. Effective link building with an emphasis on link quality from reputable websites can greatly enhance a site's authority and its potential to climb the ranking ladder in search engine optimization efforts.

STRATEGIC IMPLEMENTATION AND BEST PRACTICES

In the realm of online business, the strategic implementation of link building and adherence to best practices can markedly enhance a website's domain authority and search rankings. These efforts contribute directly to increasing visibility, driving organic traffic, and establishing a reputable online presence.

DEVELOPING EFFECTIVE LINK BUILDING STRATEGIES

Developing effective link building strategies requires a blend of research, planning, and clear goal-setting. Companies should first conduct a backlink audit to understand their current link profile and identify opportunities for improvement. Focusing on quality over quantity, the strategy should prioritize securing links from reputable websites that add credibility to the business. Identifying linkable assets, such as high-quality content, infographics, or insightful research, provides a solid foundation for outreach campaigns.

CHOOSING THE RIGHT LINK BUILDING PROVIDERS

When selecting a link building provider, transparency and a proven track record are crucial. Website owners should look for SEO agencies with an extensive portfolio that showcases successful campaigns and positive ROI. Providers like The HothPage One Power, and Siege Media specialize in customized strategies that align with SEO best practices. Assessing the provider’s ability to build strategic links that yield referral traffic and enhanced search engine optimization is key to a fruitful partnership.

LEVERAGING CONTENT MARKETING AND OUTREACH FOR LINK ACQUISITION

Effective content marketing paired with strategic outreach lays the groundwork for acquiring high-quality editorial links. Companies can harness the power of guest blogging, producing guest posts for authoritative sources in their industry. Additionally, initiatives such as digital PR and email outreach to influencers can extend brand awareness and build robust relationships that result in valuable backlinks. By optimizing the user experience and engaging in content promotion, businesses can attract targeted traffic and ultimately drive sales and revenue.

Through these subsections, the integral role of strategic implementation and adherence to best practices in the pursuit of successful link building is evident, contributing to the overarching goals of enhanced domain authority, search rankings, and a solid online presence for businesses in the digital space.

FREQUENTLY ASKED QUESTIONS

This section addresses common inquiries on how link building can drive visibility and growth for online businesses. It examines effective strategies and considerations for selecting link building services.

HOW DOES LINK BUILDING ENHANCE ONLINE BUSINESS VISIBILITY?

Link building supports online business visibility by establishing a network of relevant links that drive traffic and build authority. A website with a robust backlink profile can see increased exposure on search engine results pages.

WHAT ARE THE CHARACTERISTICS OF AN EFFECTIVE LINK BUILDING STRATEGY? LINK BUILDING PROVIDERS

An effective link building strategy emphasizes quality over quantity, focuses on building relationships, and targets reputable websites within the business's niche. A diverse mix of backlinks and customization to the business goals are fundamental.

CAN LINK BUILDING SIGNIFICANTLY IMPROVE SEARCH ENGINE RANKINGS FOR BUSINESSES?

Yes, link building can significantly improve search engine rankings for businesses. Search engines use backlinks as indicators of content quality, so high-quality, relevant links can lead to higher rankings.

WHAT SHOULD ONE CONSIDER WHEN CHOOSING A LINK BUILDING PROVIDER?LINK BUILDING PROVIDERS

When selecting a link building provider, one should consider the provider's track record, transparency in their methods, the quality of their existing links, and whether they offer a strategy tailored to the business’s specific needs.

HOW FREQUENTLY SHOULD A BUSINESS ANALYZE ITS LINK BUILDING EFFORTS TO ENSURE EFFECTIVENESS?

A business should review its link building efforts regularly, optimally every quarter. This allows the business to adapt to changes in search engine algorithms, refresh old links, and pursue new opportunities.

IN WHAT WAYS CAN A TAILORED LINK BUILDING APPROACH BENEFIT INDUSTRY-SPECIFIC BUSINESSES?

tailored link building approach benefits industry-specific businesses by targeting industry-relevant platforms and audiences. This aligns link acquisition with the specific customer base and competitive landscape, leading to more effective results.

https://rtateblogspot.com/2024/05/18/how-allsolutionsnetwork-com-works/

Tim Moseley

A higher for longer monetary policy is spooking gold prices see the biggest drop in eight months

A higher for longer monetary policy is spooking gold; prices see the biggest drop in eight months

A higher for longer monetary policy is spooking gold; prices see the biggest drop in eight months teaser image

While central bank purchases and robust Asian demand have created a long-term uptrend in gold, uncertainty surrounding the Federal Reserve's monetary policy continues to generate significant short-term volatility.

At the start of the week, gold prices rallied to a record high above $2,450 an ounce as markets started to solidify expectations that the Federal Reserve was on track to cut rates two times this year.

However, the new breakout rally proved short-lived as gold prepares to end the week more than $100 lower. June gold futures last traded at $2,334.90 an ounce, down nearly 5% from its record highs; prices are down 3.4% from last Friday, its worst selloff in eight months.

The Federal Reserve's minutes from the April/May Federal Open Market Committee meeting show a hawkish sentiment, with the central bank reluctant to cut interest rates as inflation pressures remain elevated.

"Participants noted disappointing readings on inflation over the first quarter and indicators pointing to strong economic momentum and assessed that it would take longer than previously anticipated for them to gain greater confidence that inflation was moving sustainably toward 2 percent," the minutes said.

The minutes also noted that some committee members are willing to raise interest rates if inflation continues to creep higher.

"This revelation pushed back rate cut expectations, with November replacing September as the likely timing for the first cut," said Ricardo Evangelista, Senior Analyst at ActivTrades. "This shift drove an increase in Treasury yields and a stronger dollar, punishing the price of the non-yielding precious metal."

Lukman Otunuga, Manager Of Market Analysis at FXTM, said that gold's selloff ahead of the U.S. Memorial Day long weekend could create more downside pressure for the yellow metal in the near term.

"With traders now only pricing one Fed rate cut in 2024, the scales of power could be shifting in favor of bears," he said.

Otunuga added that in the current environment, the gold market will be sensitive to next week's inflation data. The core Personal Consumption Expenditures Index (PCE), the Federal Reserve's preferred inflation gauge, will be released on Friday.

"Signs of cooling price pressures have the potential to rekindle Fed cut hopes, boosting gold prices. If the PCE report prints above market forecasts, this may deal another blow to Fed cut expectations – dimming gold prices even further," he said. "Talking technicals, the downside momentum could take prices toward the $2300 support level and lower. For bulls to jump back into the game, a move back above $2385 may be required."

Despite the broader bullish sentiment in the marketplace, some analysts note that near-term momentum is turning for gold .

"It certainly wouldn't be much of a stretch to see [gold] retest $2,300. This level, and the area just below, acted as support earlier this month, and it feels as if it wouldn't take much selling to push it back down there. But as ever, strong rallies can appear out of nowhere, particularly after significant pullbacks," said David Morrison, Senior Market Analyst at Trade Nation, in a note Friday.

Alex Kuptsikevich, Senior Market Analyst at FxPro, said he also sees signs of shifting near-term momentum in the marketplace; however, he added that the precious metal could be bought on dips.

"There is a divergence between the RSI and the price dynamics on daily timeframes, where a higher local price high corresponds to a lower peak in the Relative Strength Index. This is seen as a depletion of buying strength and often precedes a major decline or reversal," he said. "However, the latest decline may be a short-term correction, effectively letting off steam and clearing the way to the upside. Still, gold is above its 50 and 200-day moving averages."

Looking at gold's technical picture, analysts have said that investors and traders need to watch initial support between $2,300 and $2,285 an ounce.

In a recent interview with Kitco News, Nitesh Shah, Director of Research at WisdomTree, said that he expects official sector demand to support higher prices.

Shah explained that while central banks aren't focused on gold's price as they look to diversify their reserves, they will still be opportunistic and buy at a discount when they can.

"I suspect, every price dip we see, central banks will be buying. They know that if they want a cheaper price, they had better load up now because the price is only going higher," he said.

With central bank demand providing solid support in the marketplace, Shah said it is only a matter of time before Western Investors jump in.

While Friday's inflation numbers will be the main focus in the shorted trading week, economists will pay close attention to updated GDP numbers and consumer confidence data.

Economic data to watch next week:

 

Tuesday: US Conference Board Consumer Confidence,

Thursday: Preliminary U.S. Q1 GDP, weekly jobless claims, pending home sales

Friday: US PCE and personal income and spending

Kitco Media

Neils Christensen

Time to Buy Gold and Silver

Tim Moseley

The Artist that came out of the Winter