The second week of gains in gold futures confirms a piercing line

The second week of gains in gold futures confirms a piercing line

Gold futures had a respectable gain this week opening on Monday at approximately $1944, and today closing at approximately $1966. The weekly trading activity resulted in a gain of approximately $22. But most significant is that this week’s price gain follows the prior week's gains. This results in two consecutive weeks of price advances in the precious yellow metal, and the confirmation of a simple bullish reversal pattern based upon Japanese candlesticks.

Japanese candlestick patterns have been used by Japanese market technicians since the 1600’s as a powerful technique to identify pivot or turning points effectively. Several simple two-candlestick patterns can be found on daily, weekly, or even monthly time frames.

Two of the stronger bullish reversal patterns are known as an engulfing bullish and piercing line. The criteria for these patterns begin with the same three rules:

Rule One – The pattern must occur after a defined price correction.

Rule Two – The first candlestick in the pattern must be a large red candle (which is created when the closing price of the time sequence is below the opening price), which trades at a lower low than the previous candle.

Rule Three – The second candlestick in the pattern must open below the prior large red candle.

However, this is where the two candlestick pattern types differ based on where the candle closes. To create an engulfing bullish the large green candle must close above the real body of the prior red candle. In the case of a piercing line although it opens in the same manner as the engulfing bullish it must close at the midpoint or higher.

Both patterns require a confirming candle on the following cycle which is a green candle with a higher high and a higher low.

On a weekly chart of gold futures, we can identify a piercing line that was confirmed this week.

The chart above is a weekly candlestick chart of gold futures. A rectangular box highlighted the last three weekly candlesticks of which candles one and two create the piercing line and candle three identifies the confirming candle. Based on the pattern we conclude that gold could challenge $2000 per ounce based on the highs during the week of July 17 and July 24. During those two weeks, gold traded to a high of $2028 and $2020. Therefore, it is not unreasonable to assume that gold could trade to and move above $2000 or higher during this calendar month.

By

Gary Wagner

Contributing to kitco.com

Time to Buy Gold and silver

Tim Moseley

Gold silver weaker as USDX rallies

Gold, silver weaker as USDX rallies

Gold and silver prices are modestly lower in midday U.S. trading Thursday, on downside corrections following this week’s gains and amid a solid rally in the U.S. dollar index today. December gold was last down $4.60 at $1,968.50 and December silver was down $0.254 at $24.855.

The U.S. data point of the day Thursday was the personal income and outlays report for August, including the closely watched PCE inflation readings. The core PCE reading for August came in at up 4.2%, year-on-year, which was right in line with market expectations and compares to up 4.1% in the July report. Markets showed no significant reactions to the as-expected report.

The busy U.S. data week is highlighted by Friday’s employment situation report for August from the Labor Department. The key non-farm payrolls number is expected to come in at up 170,000, compared to a rise of 187,000 in the July report. Downbeat U.S. data released so far this week has many thinking Friday’s jobs report will be in line with market expectations, or a bit weaker.

U.S. stock indexes are mixed at midday. The stock index bulls are having a good week and hit three-week highs overnight.

  How gold price gets to $10k: BRICS expansion, gold-backed currency, monetary reset – Willem Middelkoop

The key outside markets today see the U.S. dollar index solidly higher on a corrective rebound from recent selling pressure. Nymex crude oil futures prices are higher and trading around $82.50 a barrel. The benchmark U.S. Treasury 10-year note is presently fetching 4.08%.

Technically, December gold futures bears have the overall near-term technical advantage. However, prices are starting to trend up. 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 this week’s high of $1,977.10 and then at $1,985.00. First support is seen at Wednesday’s low of $1,962.80 and then at $1,950.00. Wyckoff's Market Rating: 4.0.

December silver futures silver bulls have the overall near-term technical advantage. Prices are trending higher on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at the July high of $25.82. The next downside price objective for the bears is closing prices below solid support at $23.50. First resistance is seen at today’s high of $25.06 and then at this week’s high of $25.425. Next support is seen at today’s low of $24.745 and then at $24.555. Wyckoff's Market Rating: 6.5.

December N.Y. copper closed down 215 points at 382.25 cents today. Prices closed near mid-range. The copper bears have the slight overall near-term technical advantage. 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 this week’s high of 385.05 cents and then at 388.00 cents. First support is seen at this week’s low of 378.00 cents and then at 375.00 cents. Wyckoff's Market Rating: 4.5.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Gold silver gain on more downbeat US economic data

Gold, silver gain on more downbeat U.S. economic data

Gold prices are higher in midday U.S. trading Wednesday and notched a three-week high, in the aftermath of another batch of U.S. economic data than came in a bit weaker than market expectations. Silver is trading near unchanged but hit a four-week high early on today. December gold was last up $9.30 at $1,974.50 and December silver was up $0.046 at $25.18.

This morning’s ADP National Employment Report for August showed a rise of 177,000 jobs, compared to expectations for a gain of 200,000 and compares with a revised rise of 371,000 in the July report. Meantime, the second estimate of second-quarter U.S. GDP showed a gain of 2.1%, year-on-year, versus the first estimate of up 2.4% and was below market expectations. The closely watched PCE price index for the second quarter was up 2.5% versus the first estimate of up 2.6%. All of these numbers fall into the camp of the U.S. monetary policy doves, who want the Federal Reserve to hold off on raising interest rates further.

The busy U.S. data week is highlighted by Friday’s employment situation report for August from the Labor Department. The key non-farm payrolls number is expected to come in at up 170,000, compared to a rise of 187,000 in the July report.

Asian and European stock markets were mostly higher in overnight trading. U.S. stock indexes are slightly higher at midday. Trader and investor sentiment overseas has improved this week as China continues to implement measures to stimulate its listing economy. Reports say China’s largest banks are preparing to cut interest rates on existing mortgages to support consumer spending and the property sector.

  Gold hits record high against yen, could signal further gains against the U.S. dollar

The key outside markets today see the U.S. dollar index solidly lower. Nymex crude oil futures prices are firmer and trading around $81.50 a barrel. The benchmark U.S. Treasury 10-year note is presently fetching 4.114%.

Technically, December gold futures prices hit a three-week high today. More short covering and bargain hunting were featured. Bears still have the overall near-term technical advantage but bulls have gained some momentum. Prices are starting to trend up. 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 $1,985.00 and then at $2,000.00. First support is seen at today’s low of $1,962.80 and then at $1,950.00. Wyckoff's Market Rating: 4.0

December silver futures hit another four-week high today. The silver bulls have the overall near-term technical advantage. Prices are trending higher on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at the July high of $25.82. The next downside price objective for the bears is closing prices below solid support at $23.50. First resistance is seen at today’s high of $25.425 and then at $25.82. Next support is seen at today’s low of $24.92 and then at $24.555. Wyckoff's Market Rating: 6.5.

December N.Y. copper closed up 35 points at 384.25 cents today. Prices closed nearer the session high and hit a three-week high. The copper bears have the slight overall near-term technical advantage. 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 385.05 cents and then at 388.00 cents. First support is seen at this week’s low of 378.00 cents and then at 375.00 cents. Wyckoff's Market Rating: 4.5.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Gold silver rally on downbeat US economic data

Gold, silver rally on downbeat U.S. economic data

Gold and silver prices are higher in midday U.S. trading Tuesday, with gold hitting a three-week high and silver a four-week peak. A much weaker-than-expected U.S. jobs turnover report (JOLTS) and a much lower-than-expected consumer confidence index report prompted fresh buying interest in the precious metals. The U.S. dollar index sold off and U.S. Treasury yields dipped after the data. Both reports fell into the camp of the U.S. monetary policy doves, who think the Fed has raised interest rates enough to effectively slow down U.S. economic growth. This was the start of a big week for U.S. economic reports. December gold was last up $17.30 at $1,963.90 and December silver was up $0.51 at $25.115.

U.S. stock indexes are higher at midday, also boosted by the weaker U.S. economic data. Asian and European stock markets have been lifted early this week by news Monday that China cut a key tax rate and pledged to shore up its capital markets.

The busy U.S. data week is highlighted by Friday’s employment situation report for August from the Labor Department. The key non-farm payrolls number is expected to come in at up 170,000, compared to a rise of 187,000 in the July report.

The key outside markets today see the U.S. dollar index lower. Nymex crude oil futures prices are a bit firmer and trading around $80.50 a barrel. The benchmark U.S. Treasury 10-year note is presently fetching 4.131%.

Technically, December gold futures prices hit a three-week high today. Short covering and bargain hunting were featured. Bears still have the overall near-term technical advantage. However, a four-week-old downtrend on the daily bar chart has been negated and prices are starting to trend up. 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 $1,975.00 and then at $1,985.00. First support is seen at $1,950.00 and then at this week’s low of $1,941.10. Wyckoff's Market Rating: 4.0.

December silver futures prices hit a four-week high today. The silver bulls have the overall near-term technical advantage. Prices are trending higher on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at the July high of $25.82. The next downside price objective for the bears is closing prices below solid support at $23.50. First resistance is seen at $25.50 and then at $25.82. Next support is seen at today’s low of $24.555 and then at $24.31. Wyckoff's Market Rating: 6.5.

December N.Y. copper closed up 405 points at 383.25 cents today. Prices closed nearer the session high. The copper bears have the overall near-term technical advantage. 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 last week’s high of 384.25 cents and then at 387.00 cents. First support is seen at today’s low of 378.70 cents and then at 376.55 cents. Wyckoff's Market Rating: 4.0.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Redefining Marketing: Markethive Leads in the Inbound Marketing Era

Redefining Marketing: Markethive Leads in the Inbound Marketing Era

Staying ahead of the curve is crucial in the dynamic and ever-changing business world. In the modern business landscape, innovation and technology act as guiding forces, shaping how companies engage with their audiences and forge connections. In this era of constant evolution, a powerful synergy has emerged between two groundbreaking concepts: inbound marketing and blockchain technology. This convergence is rewriting the rules of engagement and presenting companies with unprecedented opportunities to carve out a competitive edge.

Gone are the days when traditional marketing methodologies ruled the roost. The one-size-fits-all approach of old-school marketing campaigns is gradually being replaced by a more interactive, personalized, and customer-centric approach. Inbound marketing is not just a strategy; it's a philosophy that revolves around attracting, engaging, and delighting customers by delivering valuable and relevant content. It's about creating a genuine connection with your audience, addressing their pain points, and offering solutions that resonate personally.

Amidst this transformative landscape, a standout player emerges: Markethive. This innovative ecosystem stands at the crossroads of the inbound marketing revolution and the blockchain evolution. Markethive's unique proposition lies in its ability to seamlessly fuse the principles of inbound marketing with the cutting-edge potential of blockchain. By doing so, it offers a comprehensive system that empowers businesses to connect with their target audience and build lasting relationships based on trust and transparency.

As we embark on this journey through the eras of marketing, from the traditional approaches of yesteryear to the revolutionary paradigm of today, we'll delve deeper into the facets that make Markethive a trailblazer in this space. We'll explore how its state-of-the-art technology and commitment to blockchain integration position it as a force to be reckoned with in the marketing world. So, fasten your seatbelts as we navigate through the intricacies of modern marketing evolution and the exciting possibilities that lie ahead, with Markethive leading the way.

The Dynamic Evolution of Marketing Strategies

Delving into the ancient history of marketing unveils a fascinating narrative of transformation and adaptation. From the early days of universal billboards and broadcast commercials to the sophisticated era of inbound marketing, marketing strategies have been a journey of innovation, trial, and refinement. What began as a shotgun approach, characterized by mass advertising and outbound messages, has now matured into a nuanced dance of personalized engagement and interactive storytelling.

Cast your mind back to the days when marketing was synonymous with loud, one-sided conversations. Brands would deliver their messages from billboards, TV screens, and radio waves, hoping to capture the attention of a broad audience. This hit-or-miss approach often left consumers feeling like passive recipients of information rather than active participants in a meaningful dialogue. These tactics' lack of customization and relevance underscored a glaring disconnect between brands and their increasingly savvy and selective audience.

But then, the winds of change swept through the marketing landscape. Inbound marketing emerged as a beacon of customer-centricity, altering the course of how businesses connect with their potential customers. This paradigm shift responded to the changing dynamics of consumer behavior and preferences. Modern consumers no longer want to be bombarded with messages; they crave valuable insights, personalized experiences, and genuine connections.

Inbound marketing is a philosophy that turns the tables on traditional approaches. Instead of flooding the masses with messages, inbound marketing seeks to attract, engage, and delight potential customers through meaningful interactions. It's a strategy rooted in empathy, understanding, and value creation. By delivering content that addresses their target audience's specific pain points and interests, brands can establish themselves as trusted advisors rather than mere promoters.

The beauty of inbound marketing lies in its ability to align seamlessly with the evolving preferences of modern consumers. It's not about pushing products; it's about forging connections. It's not about one-size-fits-all; it's about tailoring experiences. In an age where consumers have the power to filter out unwanted noise, inbound marketing opens the door to authentic conversations and valuable exchanges.

As we navigate through this dynamic evolution of marketing strategies, it's clear that the journey is far from over. The landscape continues to shift, driven by technological advancements, changing consumer behaviors, and societal trends. But one thing remains certain: the heart of effective marketing beats to the rhythm of connection, relevance, and engagement. As we embrace this new era of marketing, one thing is for sure: the consumer is at the center, and the businesses that listen, adapt, and engage are the ones that will thrive.

The Power of Inbound Marketing

Imagine a world where businesses aren't just vying for attention with flashy ads and intrusive pop-ups, but rather, they're earning attention by offering solutions to real problems. That's the essence of inbound marketing. By crafting content that addresses pain points, answers questions, and gives insights, businesses become more than just sellers; they become trusted sources of information and assistance.
 
The transformative power of inbound marketing becomes even more pronounced in today's digital age. Thanks to the rise of social media, businesses now have direct access to their audience, enabling authentic interactions and meaningful conversations. No longer are companies limited to a one-way communication channel. Instead, they can engage, listen, and adapt in real-time. This has ushered in a new era of marketing where feedback isn't just welcomed; it's actively sought after.
 
But the impact of inbound marketing isn't solely about engagement; it's about building relationships. When content resonates with the audience, it sparks a connection beyond transactional exchanges. It establishes a bond based on shared values, common interests, and a genuine understanding of the audience's needs. This connection drives customer loyalty and advocacy, turning satisfied customers into brand ambassadors.
 
Consider the scenario where a fitness enthusiast comes across a series of blog posts from a sportswear brand. These posts provide workout tips, nutritional advice, and success stories from fellow enthusiasts. By offering this valuable content, the brand positions itself as more than just a seller of athletic wear; it becomes a partner in the journey towards a healthier lifestyle. This emotional resonance is what sets inbound marketing apart. It creates a narrative that customers want to be a part of.

Markethive's Innovative Approach

At the crossroads of innovation, where the worlds of inbound marketing and blockchain technology converge, lies Markethive, a platform that is rewriting the rules of engagement. It's not just a platform; it's a visionary approach that melds the power of inbound marketing, the potential of blockchain technology, and the strength of a vibrant community, all fueled by its very own cryptocurrency, ‘Hivecoin.’ This cryptocurrency isn't just a digital token; it's a symbol of collaboration and a medium of exchange for ideas, services, and value.

Visualize a terrain where traditional marketing techniques are no longer sufficient, customer relationships are not just transactions but genuine connections, and security and transparency are paramount. This is the landscape that Markethive is helping to shape, offering a fresh perspective on how businesses can interact with their audiences.

Inbound marketing, the heartbeat of Markethive's strategy, is all about creating meaningful interactions. It's a departure from the one-way communication of old marketing methods. Instead, it's a conversation, a dialogue, and a relationship-building endeavor. Markethive recognizes the power of this approach and has harnessed it to its fullest potential. Through the platform's array of tools and features, content creation becomes an art, and engagement transforms into a science.

But Markethive doesn't stop there. It goes further, embracing blockchain technology and redefining the foundations of trust and security. Blockchain, often associated with cryptocurrencies, is more than that; it's a technology that brings accountability and immutability to the digital world. Markethive seamlessly integrates blockchain's capabilities, ensuring that data remains private, transactions are tamper-proof, and interactions are verifiable.

What sets Markethive apart is its community-driven ethos. It's not just a platform for marketers; it's a living, breathing ecosystem where individuals with diverse talents and goals come together to thrive.

So, when you look at Markethive, you're not merely seeing a platform; you're witnessing a paradigm shift in how marketing, technology, and community intersect. It's a place where creativity meets security, transactions are infused with trust, and a global community comes together to shape the future of engagement. This is Markethive, an innovative fusion of ideas, technology, and humanity, redefining how we approach marketing and community collaboration.

The Multifaceted Advantages of Markethive

When exploring the advantages that Markethive brings, one quickly realizes that this platform is a true game-changer in more ways than one. Beyond its surface appeal, Markethive's multifaceted benefits resound through the core of modern marketing and networking dynamics. In this era where data is as precious as gold, Markethive harnesses the power of blockchain technology to provide a level of assurance and security that is nothing short of revolutionary.

In a world with its fair share of data breaches and privacy concerns, Markethive stands tall as a fortress of data security. The seamless integration of blockchain technology within the platform serves as a reassuring shield, safeguarding user information against the prying eyes of malicious actors. The inherent transparency and immutability of blockchain deter unauthorized access and offer users the peace of mind they deserve. This is more than just a feature; it's a testament to Markethive's commitment to building a haven for its users.

Beyond data protection, Markethive takes decentralization to a whole new level. In an age where governments use businesses to dictate the rules of engagement and achieve their control agenda by proxy, Markethive flips the script. The decentralized structure of the platform puts the reins back in the hands of the users themselves. No longer confined to the dictates of third parties, users are empowered to direct their interactions, forging connections on their terms. This enhances user autonomy and ushers in an era of authentic engagement.

One of the most intriguing facets of Markethive's approach is its ingenious way of turning content creation and sharing into a rewarding endeavor. In a landscape where attention is a currency, Markethive elevates this concept by enabling users to monetize their contributions. Imagine earning tangible rewards for sharing your insights, creating content, and engaging with a community that values your input. Markethive transforms your actions into currency, making every interaction a step towards potential earnings.

Markethive is a game-changer because it's powered by the strength of people coming together. The company is on a mission to give you an edge that's seriously unfair in the best way possible. Imagine being part of a movement that reaches billions through social networks and gets you top-notch SEO results in a snap. That's the kind of power we're talking about.

The system is jam-packed with features that are designed to help you succeed. The autoresponders here are even better than what you'd find in popular services like Aweber, and the capture page technology is out of this world, ensuring you capture leads like a pro. And speaking of leads, there are widgets that make subscription a breeze for your capture pages and WordPress sites.

The blogging systems are designed for massive reach. Your visitors can easily subscribe and spread the word through their social networks. And there’s an auto-posting feature; we're talking about reaching millions, even billions, on platforms like Facebook, LinkedIn, Instagram, and more. Results? Yep, you're gonna see them with mind-blowing ROI.

Inbound marketing is the way to go. More than 90% of your potential customers search the web, and a whopping 80% of their purchasing journey happens before they even contact you. That's where Markethive comes in, helping you understand your customers and guiding them straight to your website. Attract leads, nurture them, and turn them into loyal customers. That's the power of inbound marketing. And with Markethive, you're not just getting a platform but becoming part of a movement. Several other services are in the works, so whether you're starting or ready to take your business to the next level, Markethive is here to support you. Your success is our success, and with Markethive, you've got a partner who's got your back every step of the way.

It's worth noting that the extensive censorship on various social media platforms and the concerning actions of governments that seem to limit people's freedoms, Markethive provides an exciting solution. Markethive creates an environment where people can truly express themselves without fearing censorship or suppression. This merging of ideas and technology promises to allow individuals to communicate, connect, and collaborate without facing the hurdles often accompanying the virtual landscape.

Markethive aims to establish a space where creativity and dialogue can flourish unhindered, promoting an atmosphere of openness and unrestricted exchange of thoughts and ideas. By acknowledging the concerns surrounding censorship and the desire for personal freedoms, Markethive is positioning itself as a potential solution, offering a platform that aspires to preserve the essence of free expression in an ever-evolving digital world.

Navigating the Future

As digital marketing has become essential in today's business environment, businesses constantly seek efficient ways to reach their target audiences—Markethive steps in by offering a suite of inbound marketing tools designed to address these challenges head-on. Unlike traditional outbound marketing, where messages are pushed to consumers, inbound marketing focuses on attracting potential customers through valuable content and experiences.
 
Markethive's arsenal includes systems and tools like blogs, email autoresponders, e-commerce stores, banner advertising, press releases, boost, video advertising, broadcasting, franchised news sites, and analytics that empower businesses to craft engaging content and strategically share it across various platforms.
 
Businesses can streamline their marketing efforts and achieve a more significant ROI by offering a comprehensive toolkit that covers content creation, social media management, analytics, and community engagement. This approach aligns well with consumers' evolving preferences, who value authenticity and personalized interactions.
 
One of Markethive's standout features is its emphasis on community building. Businesses can thrive by connecting with like-minded individuals, networking within their industry, and fostering meaningful relationships. This communal approach enables trust and credibility, which are crucial components of successful marketing campaigns.
 
Markethive's potential to surpass the tech giants lies in its commitment to addressing the pain points of modern marketing. Markethive's innovative solutions have the potential to propel it beyond Facebook, Twitter, and LinkedIn. Its focus on inbound marketing, community building, and blockchain technology sets it apart as a platform that understands and addresses the evolving needs of businesses in the digital age. As we navigate the future, it's exciting to witness how Markethive could reshape the landscape of social media and marketing.

Final Thoughts

Markethive is like a fresh breeze in the world of marketing. It's an ecosystem that mixes modern marketing ideas with the power of blockchain technology. This lets marketers do their thing, keep their data safe, and make real connections. Markethive is all about changing how we do marketing, and it's a sign of how new and exciting ideas can shape industries for the better.
 
The company's unique positioning as a pioneer in this space underscores the platform's commitment to reshaping marketing practices for the better. As we look ahead, it's clear that the fusion of these dynamic forces will define the trajectory of marketing in the digital age, and Markethive is the pioneering force.

 

 

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

Gold rallies on short covering perceived value buying

Gold rallies on short covering, perceived value buying

Gold prices are posting decent gains and silver prices are slightly up in midday U.S. trading Monday. Short covering by the futures traders is featured in gold, along with some perceived bargain hunting. The silver market is seeing some technical buying amid friendly near-term charts. December gold was last down up $13.30 at $1,953.30 and December silver was up $0.137 at $24.72.

This is the unofficial last week of summer for the U.S. Look for the marketplace to become more active next Tuesday, following the three-day U.S. Labor Day weekend holiday. This is a big week for U.S. economic reports, so traders and investors are likely to become at least a bit more tuned in as the week progresses.

Asian and European stock markets were mostly higher in overnight trading. U.S. stock indexes are modestly higher at midday. News that China cut a key tax rate and pledged to shore up its capital markets boosted trader and investor attitudes in Asia.

The key outside markets today see the U.S. dollar index near steady. Nymex crude oil futures prices are slightly higher and trading around $80.00 a barrel. The benchmark U.S. Treasury 10-year note is presently fetching 4.214%.

The U.S. economic data pace picks up rapidly on Tuesday and it’s a big data week, including the employment situation report on Friday.

Technically, December gold futures bears still have the overall near-term technical advantage. However, a four-week-old downtrend on the daily bar chart has been negated. 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 $1,900.00. First resistance is seen at $1,963.50 and then at $1,975.00. First support is seen at today’s low of $1,940.10 and then at Friday’s low of $1,931.00. Wyckoff's Market Rating: 3.5

December silver futures bulls have the overall near-term technical advantage. Prices are trending higher on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at the July high of $25.82. 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 $25.00 and then at $25.345. Next support is seen at Friday’s low of $24.31 and then at $24.00. Wyckoff's Market Rating: 6.0.

December N.Y. copper closed up 95 points at 379.35 cents today. Prices closed nearer the session low. The copper bears have the overall near-term technical advantage. 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 382.90 cents and then at last week’s high of 384.25 cents. First support is seen at Friday’s low of 376.55 cents and then at last week’s low of 372.15 cents. Wyckoff's Market Rating: 3.5.

By

Jim Wyckoff

Time to Buy Gold and silver

Tim Moseley

Gold prices treading water as Powell provides little guidance on monetary policy during Jackson Hole speech

Gold prices treading water as Powell provides little guidance on monetary policy during Jackson Hole speech

The gold market continues to tread water below $1,950 an ounce as it finds little direction from the latest comments from Federal Reserve Chair Jerome Powell.

Friday, Powell provided little new information on the central bank's monetary policy, saying that the Federal Reserve will remain cautious as it focuses on bringing inflation back to its 2% target. The comments were made during the annual central bank retreat at Jackson Hole, Wyoming.

Powell said that while the central bank can continue to raise interest rates if inflation remains stubbornly elevated, he added that monetary policy will remain data-dependent.

"As is often the case, we are navigating by the stars under cloudy skies. In such circumstances, risk-management considerations are critical. At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks. Based on this assessment, we will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data," he said.

The gold market is not seeing much reaction to the comments. December gold futures last traded at $1,947.10 an ounce, unchanged on the day.

Adam Button, head of currency strategy at Forexlive.com, described Powell's comments as "a bit of a dud."

"These are all the same things that he said after the last FOMC, and they echo what most other Fed officials have said. Perhaps the market is keying on the 'carefully' comment, which might be seen as dovish. The dollar kicked lower initially, but I just don't see that continuing based on the headlines," he said.

However, Jim Wyckoff, senior technical analyst at Kitco.com, said that he said Powell struck a more hawkish tone as he focused on the central bank's inflation target.

"Twelve-month core inflation is still elevated, and there is substantial further ground to cover to get back to price stability," said Powell in his remarks. "Two percent is and will remain our inflation target. We are committed to achieving and sustaining a stance of monetary policy that is sufficiently restrictive to bring inflation down to that level over time. It is challenging, of course, to know in real-time when such a stance has been achieved."

Powell also noted that the central bank still expects to see weaker economic growth as it cools the economy to bring consumer prices back down to target.

"Getting inflation sustainably back down to 2 percent is expected to require a period of below-trend economic growth as well as some softening in labor market conditions.

Marc Chandler, managing director at Bannockburn Global Forex, said that Powell didn’t cover any new ground; however, he added that markets are still pricing in a rate hike in November.

“Powell spent a little more than 10 minutes summarizing what has taken place in the past year, with little forward guidance,” he said.

By

Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

WEFs Cyber Attack Simulations: Klaus says a Cyber Attack will Dwarf the Pandemic by Comparison

WEF’s Cyber Attack Simulations: Klaus says a Cyber Attack will Dwarf the Pandemic by Comparison. 

In late 2019, the World Economic Forum (WEF) co-hosted a global pandemic simulation known as Event 201 with the John Hopkins and Bill and Melinda Gates Foundation. A few months later, we were hit with an actual pandemic that began in early 2020. The WEF co-hosted a global cyber attack simulation with Sberbank, Russia's largest bank, in July 2020 called Cyber Polygon. In light of the aftermath of Event 201 has led to speculation that a cyber attack is on the horizon. 

This article explains the Cyber Polygon and summarizes what was discussed in the 2020 simulation. There was another Cyber Polygon simulation in mid-2021, which I touched on briefly in this article. However, the 2020 edition is significant because it was the first simulation involving Klaus Schwab and the WEF and the first year of the C-19 pandemic. A lot has happened since the 2021 simulation; hence, the Cyber Polygon 2022 simulation was postponed indefinitely.

What Is Cyber Polygon?

Cyber Polygon is an annual cyber security event hosted by BI.ZONE, a cyber security subsidiary of Sberbank. The first Cyber Polygon event took place in 2019, which included simulations for DDOS, web applications, and ransomware attacks. The summary reveals a limited number of participants, the only notable being IBM. The WEF was yet to be involved. 

However, the WEF’s cyber security initiatives predate Cyber Polygon by over a year. The WEF announced the Global Center for Cyber Security at its annual Davos conference in January 2018. At some stage in 2019/20, the WEF partnered with Sberbank to organize Cyber Polygon 2020. Not surprisingly, Cyber Polygon 2020 was much larger than the 2019 edition. Over 120 organizations from 29 countries were involved, and the online event had over five million viewers from 57 countries. 


Image source: Cyber Polygon 2020 Report.pdf

The website for Cyber Polygon 2020 explains that many of these 120 organizations chose to remain anonymous, but it reveals that many big names were involved. Besides Deutsche Bank and Ernst & Young, ICANN is noted as being one of the key partners, and it provides global internet infrastructure. Whereas the focus of the 2019 edition was DDOS, web applications, and ransomware attacks, the focus of Cyber Polygon 2020 was a so-called digital pandemic. This digital pandemic would affect everything from financial infrastructure to healthcare and have a global impact. 

The full Cyber Polygon 2020 stream is still available on the BI.ZONE’s YouTube channel, however, is almost 5 hours long. This article from Unlimited Hangout provides a detailed background on some speakers. 

 
Image source: Cyber Polygon 2020 Report.pdf

Cyber Polygon 2020

So Cyber Polygon 2020 began with opening remarks from Sberbank CEO Herman Gref. Herman explained that the speakers will discuss “the next pressing issue after the pandemic,” a global cyber attack. He revealed that Interpol is also a key partner of Cyber Polygon. Herman also announced that WEF founder and chairman Klaus Schwab is personally involved with Cyber Polygon. 

For context, the WEF is an organization consisting of the world's most influential individuals and institutions, which come together each year to decide the future of the world without our input basically. The first speaker was Mikhail Mishustin, the Prime Minister of Russia, the second most powerful person in the country after President Vladimir Putin. Mikhail revealed that the post-pandemic recovery will focus on digitization, a process accelerated by pandemic restrictions. 

The second speaker was Klaus Schwab; he revealed that he'd been working closely with Herman, the CEO of Sberbank. Klaus also said that he was pleased to have recently met with Putin, a meeting which apparently took place in Saint Petersburg in November 2019. On that note, Putin was a so-called young global leader of the WEF. Although the WEF removed Putin's profile from its website when the Russia/Ukraine war started, the association has led to speculation that the war is being used as a pretext for a cyber attack. 

In any case, Klaus explained that they need a “great reset to bring everything together,” AKA to centralize control. He said that all WEF stakeholders must be mobilized, and everything must be digitized. He added that the cyber attack will make the pandemic look like a small disturbance by comparison. 


Image Source: Unlimited Hangout

BI.ZONE Simulation

The presenter of the 2020 event was Alexander Tushkanov, head of sales at BI.ZONE. He explained that a cyber attack simulation would take place in real-time at the Sberbank headquarters during the event where BI.ZONE employees are the hackers, and participants are the cyber defenders. Alexander also said it's been many years since the WEF announced the Fourth Industrial Revolution. He explained that the WEF’s initiative has resulted in two groups: those who support it and those who oppose it. He asked whether trust or fear would be the motivator for future cooperation. 

Alexander also asked whether it would take another crisis to unite the world after the pandemic. As this article about resisting the great reset illustrates, the WEF is keen to create crises for this exact purpose: Centralized control. 

This ties into what was said by the third speaker, Tony Blair, the former prime minister of the UK and a frequent contributor to the WEF’s global agenda. He noted that digitization would continue after the pandemic and that rolling out a digital ID is the key to successful digitization. Tony went on to complain the governments weren’t doing enough to crack down on privacy-preserving technologies and then warned that a “globally impactful scandal is inevitable soon.” He also said that the lack of cooperation in the pandemic response makes him concerned that digitization will fail. 

On that note, Klaus saw the pandemic as an opportunity to test the great reset philosophy. Still, in hindsight, he acknowledged that the WEF’s top-down approach failed, so they are now focusing on young global leaders for a bottom-up approach. 

The fourth speaker was Jeremy Jurgens, chief business officer at the WEF. Jeremy explained that the speed of digitization will drive the kind of intimate public and private cooperation the WEF is looking for. Note that private and public integration are common in authoritarian regimes. Jeremy went on to explain that there will be another global crisis that will be worse and happen fast. He then revealed that the WEF has been working closely with intelligence agencies on cyber security related to energy infrastructure. He not-so-subtly asked what would happen if the energy grid went down.

The following speakers were Sebastian Tolstoy, head of Erikson's Russian operations, and Alexei Kornya, CEO of MTS, Russia's largest telecom company. The pair talked about the rollout of 5G and how its purpose is primarily for the operation of smart cities, not for civilian use.

Fake News: The Real Pandemic? 

Nik Gowing, a former BBC News journalist, and Vladimir Pozner, a Russian journalist, were up next. They discussed whether fake news is the real digital pandemic. Nick began slamming then-US President Donald Trump for calling the mainstream media fake news. Vladimir continued by questioning whether it's good that people have more access to information in the modern day. He said that journalists used to be soldiers under the Soviet Union. 

Funnily enough, there was much disagreement, and Vladimir said he wasn't enjoying the conversation. Vladimir won the argument, though, because governments worldwide are in the process of passing online censorship laws, some of which will go into force in the next few months.  

Other speakers were Jacqueline Kurnot, who works in cyber security consulting at Ernst & Young, and Hector Rodriguez, a senior vice president at Visa. The topic of discussion was how to prepare for a cyber crisis, and what the panelists said was eye-opening. Jacqueline insisted that the next global crisis is imminent and said that the only solution is government regulation. Thankfully, Hector was not as convinced that there would be another global crisis but revealed that Visa already had a plan for dealing with the pandemic shortly before it began. Coincidence? 


Image source: X Interpol

Interpol And WEF Aligned

Troels Ørting Jørgensen, the West Center for Cyber Security chairman, and Jürgen Stock, the secretary general of Interpol, then had their say. For those unfamiliar, Interpol fights international crime with the help of law enforcement agencies from 195 countries and counting. While the Interpol Charter states that the organization is supposed to be politically neutral, it appears to be very closely aligned with the WEF. Troels revealed that he and Jürgen have been close friends for 30 years.

Jürgen also said that Interpol and the WEF are aligned. Jürgen is particularly passionate about the WEF’s Fourth Industrial Revolution, which essentially involves the digitization of everything so that it can be closely monitored and controlled. To that end, Jürgen believes that software and hardware should have security by design features that allow this control. 

Craig Jones, who also works at Interpol, specifically as the organization's cybercrime director, was next. Craig's answers were less revealing than the questions from Alexander, who asked about cyber attacks being executed in waves across multiple countries. Notably, Alexander asked the last few speakers if cybercrime groups collaborate better than countries. The answers were mixed, but the consensus is that cybercrime groups collaborate better than countries, which makes sense, given the tense political climate. 


Image source: Transforming our World 4 IR

Petr Goradov, head of international legal cooperation at Russia's General Prosecutor's Office, watched the simulation at Sberbank headquarters. Alexander asked him why cyber crime was rising in Russia and why only 8% of cases were solved. Petr dodged the question and called on the United Nations to create a new convention focused on cybercrime. 

John Crain, chief security officer of ICANN, was asked by Alexander about the collaboration comparison between countries and cybercrime groups. John was the only speaker who claimed that the pandemic had increased the collaboration between countries. John also revealed that ICANN is keeping track of the registration of internet domain names worldwide and their correlation to crime. As an international organization, ICANN cannot pursue any enforcement action, but it has forwarded this information to the appropriate authorities. 

The final speaker was Stanislav Kuznetsov, chairman of Sberbank. He thanked the WEF, Interpol, and others for helping put together Cyber Polygon 2020. He explained that the outcome of the ongoing cyber attack simulation would be published in a subsequent report. As mentioned earlier, the attackers in the simulation were BI.ZONE employees and the defenders were the participants in the event. The identities of the defenders are not revealed in the simulation results. 

The simulation results seem to suggest that the participants are unprepared for a cyber attack regardless of their industry. The results also specify that more than 20% of participants could not identify cyber threats before they occur. Not surprisingly, financial institutions and IT companies performed the best across the three cyber attack scenarios. 


Image source: The Last American Vagabond

Cyber Polygon 2021 Highlights

As stated in the introduction, the Cyber Polygon 2020 gave rise to speculation that a global cyber attack was imminent. This speculation rose higher in mid-2021 when the WEF and Sberbank co-hosted a second cyber attack simulation. Like Cyber Polygon 2020, Cyber Polygon 2021’s key partners were the WEF, IBM, and Interpol, and the 2021 edition was almost twice as large as the 2020 edition, with 200 participants from 48 countries and 7 million viewers from 78 countries. Most participants again chose to remain anonymous. 

Whereas the theme of Cyber Polygon 2020 was a so-called digital pandemic, the focus of Cyber Polygon 2021 was a supply-chain cyber attack simulation similar to the SolarWinds hack that would “assess the cyber resilience” of the exercise’s participants. The website for the 2021 event ominously warns that, given the digitalization trends primarily spurred by the COVID-19 crisis, “a single vulnerable link is enough to bring down the entire system, just like the domino effect,” adding that “a secure approach to digital development today will determine the future of humanity for decades to come.”

In addition to the same globalists and bureaucrats of the 2020 edition, Steve Wozniak, the co-founder of Apple, was present at the 2021 event. It’s worth mentioning that Steve seemed surprised by the event because of Alexander's questions. Alexander asked Steve about data, and Steve boasted that he's proud that Apple doesn't share user data like other big tech companies. Alexander asked Steve about AI, and he said he was not all that impressed by it. Alexander also asks Steve about digital ID. Steve expressed that he doesn't like it at all but knows it's inevitable and hopes it's done in a way that protects user privacy. Steve went on to say that he hates authoritarianism and loves freedom.

The results of the 2021 cyber attack simulation can be found here. The difference is that the 2021 report did not contain a detailed breakdown of how the participants did. It only provided a paragraph, suggesting the participants did even worse than the previous year. A third simulation was set to occur in mid-2022 but was postponed. BI.ZONE announced on Twitter [X] that Cyber Polygon had been delayed indefinitely, and many would argue it was because of the war in Ukraine. 

According to this website, no official reason was given for the postponement, and there was no mention of sanctions or Ukraine.  It’s interesting to note that BI.ZONE has since been posting about cyberattack scenarios with the hashtag “You may be next,” often tagging Interpol in the tweets. 


Image Source: X [Twitter]

Global Cooperation Waning

So, is the WEF, in fact, planning a global cyber attack to achieve even more control? Executing a global cyber attack would also require the same kind of cooperation the WEF is trying to push with cyber defense simulations just like Cyber Polygon. 

The catch is that the cooperation the WEF requires for a global cyber attack has been breaking down ever since the pandemic began. The conflicts over the distribution of things like medical equipment and medicine have led to a decline in trust between countries. This is probably why Alexander, the presenter of Cyber Polygon, felt compelled to ask whether trust or fear would motivate cooperation during the next crisis. 

Interestingly, the only person Alexander asked this question to was WEF chief business officer Jeremy Jurgens. Jeremy admitted that fear achieves compliance but cautioned that compliance is not the same as cooperation. Jeremy also acknowledged there is serious competition between countries. It brings into question how the WEF will achieve cooperation without using fear in a way that won't be affected by the competition between countries. 

Answer To The Perfect Global Crisis

The answer is a global crisis where no individual or institution is to blame, a crisis some speakers alluded to. The only problem with this kind of crisis is that the WEF wouldn't have nearly the same degree of control over its emergence and response as it did with the pandemic. Ideally, the WEF would have a way of secretly creating or exacerbating a crisis where it's impossible to detect their influence. 

It raises the issue of what kind of a global crisis meets this criterion, and the answer is a climate crisis. The WEF and its allies have been talking a lot about this lately. It is also a crisis that they could secretly create or exacerbate. 

If you know anything about weather modification, you'll see that it is a very real technology that's been around for almost 100 years. Today’s weather modification technologies are more sophisticated and highly potent, and it's reportedly impossible to detect when they're being used. A climate crisis made or made worse by this undetectable weather modification would be the perfect path to total control for the WEF. They would only need to manage the online flow of information, which they're currently addressing with those online safety laws.
 

Food For Thought

Could the elites in power be using a series of successive crises to get everyone on the same internet? An internet where everyone is registered, and everything is monitored. Consider that every time there's been a disruption to the internet due to some crisis, Elon Musk has stepped in by offering internet via Spacex's Starlink service. If some cyber attack takes down the internet, Starlink is an alternative. 

The good news about this situation is that people will always be able to recreate new internet using peer-to-peer networks. This will be easier said than done, but it is possible and will be done if this is the path that the people in power decide to take.

The silver lining to all of the WEF’s plans is that the WEF doesn't only require the collective trust of countries to make this master plan work; it requires the trust of the average person. This trust has been broken beyond repair, and what's left of it is being pounded into dust by the WEF’s ever-more dystopian plans. 

There are more of us than there are of them. If we work together to fight for freedom, we will always achieve it because our collective consciousness and energy will always be greater than theirs. And though it may take some time for the equation to play out, the outcome is inevitable. 

 

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Tim Moseley

Gold needs weak economic data as a catalyst to push prices higher next week

Gold needs weak economic data as a catalyst to push prices higher next week

The gold market maintains its resilience in the face of significant headwinds; however, precious metals are in desperate need of a catalyst to push prices out of their current downtrend, according to some analysts.

After four weeks of losses, gold is heading into the weekend with a modest gain. December gold futures last traded at $1,9410.90 an ounce, up 1.27%. Despite the gains, analysts note that the gold market is generally stuck in a “wait-and-see” mode and next week’s economic data could create some critical volatility.

U.S. economic data continues to play an essential role in the sentiment in the gold market. The Federal Reserve has said that it will maintain interest rates higher for longer as healthy economic activity continues to support the tight labor market.

Federal Reserve Chairman Powell reiterated that stance Friday in his prepared remarks during the central bank's annual retreat at Jackson Hole. Although Powell provided little new information, he reiterated the central bank’s stance to bring inflation down to its 2% target even as it remains data-dependent.

“We are navigating by the stars under cloudy skies. In such circumstances, risk-management considerations are critical. At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks,” Powell said in his remarks.

Phillip Streible, chief market strategist at Blue Line Futures, said weak data with a focus on Friday’s nonfarm payrolls report could breathe some new life into the precious metal, providing an early signal that the central bank’s tightening cycle has ended; however, he added that the market has some significant hurdles to clear.

“Even if the market does turn around, investors might still hesitate to jump back in. Investors are going to take a more conservative stance on gold and silver in the near term. Prices need to get over $1,971 just to turn neutral, but prices are not even able to break above resistance at $1,951.”

While some analysts have described Powell’s statement as “dull,” they point out that the status quo remains a complex environment for gold.

Craig Erlam, senior market analyst at OANDA, said that gold’s upside momentum could be limited in the near-term.

“Comments from Powell have not put traders' minds at ease and the traders are increasingly being forced to come to terms with rates remaining higher for even longer, strengthening the dollar and weighing on gold again today. It remains above $1,900 currently, but only just. The Fed is clearly far from convinced that the job is done,” he said in a note.

While gold’s upside appears to be limited in the near term, so could its downside. Christopher Vecchio, head of futures and forex at Tastylive.com, said that with bond yields holding near a 15-year high, gold prices should be a lot lower.

He said that he suspects growing economic uncertainty in China and the threat of stagflation in Europe is helping to support safe-haven demand in gold.

“The Chinese government is going to have to throw a lot of good money at bad investments. This uncertainty is helping to raise the floor price for gold and silver,” he said. “I think the worst days for gold and silver are over. The market is not ready to run higher, but I expect we could trend around $1,900 for a while,” he said.

Some analysts point out that silver has already experienced a modest short squeeze as prices look to end the week with a 2.4% gain.

Vecchio added that any signs of economic weakness could convince the U.S. central bank that it doesn’t have to raise interest rates any further.

While the main risk event will be Friday with the release of the U.S. August employment report, several high-profile reports will be on the docket next week.

Next week's data:

Tuesday: U.S. Consumer Confidence, JOLTS job openings

Wednesday: ADP private payrolls, Preliminary Q1 GDP, pending home sales

Thursday: Core PCE, personal income and spending, weekly jobless claims

Friday: Nonfarm payrolls report, ISM manufacturing PMI survey

By

Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Powell leans hawkish as expected markets show no significant reactions

Powell leans hawkish, as expected; markets show no significant reactions

The highly anticipated speech by Federal Reserve Chairman Jerome Powel at the annual Jackson Hole, Wyoming Fed symposium has so far had no major impact on the marketplace. Powell struck a hawkish tone on U.S. monetary policy, saying the inflation fight is not finished and the Fed “has a long way to go” to get inflation tamed to where the Fed wants it to be. Powell said the U.S. economy may not be cooling down like the Fed wants to see in order to choke off inflationary pressures. He said the U.S. central bank is prepared to raise interest rates further, if warranted. “We are in a position to proceed carefully,” said Powell. Some Fed watchers are saying Powell leaned hawkish, but maybe not as hawkish as some in the marketplace expected. Thus, the so-far muted reactions by the markets. December gold was last up $0.50 at $1,947.40.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

The Artist that came out of the Winter