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Gold declines by over 27 as hope diminishes of a rate cut this year

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Gold declines by over $27 as hope diminishes of a rate cut this year

Gold spot and futures both declined by over 1% today as traders reacted to dollar strength and stronger yields on U.S. Treasuries. But that explanation lacks the complete backdrop to the multiple reasons why gold is trading under pressure today.

Market participants are reacting with extreme caution before the release of Friday's nonfarm payroll jobs report. Current forecasts are predicting that the report will reveal that 200,000 new jobs were added in July after increasing by 209,000 in June.

In a report today by Reuters, U.S. job openings hit more than a two-year low.

"U.S. job openings fell to the lowest level in more than two years in June but remained at levels consistent with tight labor market conditions, which could spur the Federal Reserve to keep interest rates elevated for some time. Labor market resilience was underscored by the third straight monthly decline in layoffs as employers hoard workers after difficulties finding labor during the COVID-19 pandemic."

This week's jobs report could be an underlying factor enticing some traders and investors to take profits ahead of the report.

A momentary pause from the focus on the Federal Reserve

Although last week's FOMC meeting statements and comments by Chairman Powell left many investors, analysts, and economists with more questions than answers regarding the future guidance as it pertains to the monetary policy of the Federal Reserve, it is widely believed that next month's FOMC meeting will not contain another rate hike. The most current information provided by the CME's Fedwatch tool predicts that there is an 82.5% probability that rates will remain unchanged after the Fed raised rates by ¼% at the last FOMC meeting.

While it is true that the Fed remained guarded about revealing too much information about their plans, Chairman Powell's statements were carefully worded but direct and to the point such as, "It's not an environment where we want to provide a lot of forward guidance".

As of 4:32 PM EDT, gold futures basis the most active December contract is currently trading down $27.40 or -1.36% and fixed at $1981.80. This after breaking a key psychological price point trading to an intraday high today of $2004.40, $0.20 above this morning's opening price. Gold is currently trading near $1978.30 today's intraday low.

While dollar strength is partially responsible for gold's strong selloff today it was certainly not the major component moving gold lower. The dollar is currently up 0.38% and the index is fixed at 102.015. Silver futures basis most active September contract declined by $0.54 and is currently fixed at $24.435

By

Gary Wagner

Contributing to kitco.com

Time to Buy Gold and silver

Tim Moseley

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Gold silver gain on chart-based buying

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Gold, silver gain on chart-based buying

Gold and silver prices are higher in midday U.S. trading Monday. Amid a lack of fresh fundamental news to drive market prices, the precious metals traders are focusing on the improved near-term chart postures in gold and silver and doing some technically based buying. December gold was last up $10.00 at $2,009.80 and September silver was up $0.46 at $24.96.

Gold and silver bulls this week may also be focusing on recent upbeat U.S. and European Union economic data that may suggest better consumer and commercial demand for metals in the coming months. However, downbeat economic data coming out of China recently will keep precious metals traders from getting too bulled up.

Asian and European stock markets were mixed to higher in overnight trading. U.S. stock indexes are slightly higher at midday in quieter summertime trading. Trading may remain more subdued this week, ahead of the U.S. data point of the week on Friday: the U.S. employment situation report for July. The key non-farm payrolls number is expected to come in at up 200,000 jobs, compared to a rise of 209,000 in the June repot.

  Silver prices struggling as market ignores robust economic data

The key outside markets today see the U.S. dollar index slightly up. Meantime, Nymex crude oil prices are up and trading around $81.50 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.98%.

Technically, December gold futures bulls have the slight overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $2,050.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the June low of $1,939.20. First resistance is seen at last week’s high of $2,022.10 and then at the July high of $2,028.60. First support is seen at $2,000.00 and then at today’s low of $1,986.70. Wyckoff's Market Rating: 5.5

September silver futures bulls have the overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $26.00. The next downside price objective for the bears is closing prices below solid support at $23.00. First resistance is seen at last week’s high of $25.325 and then at the July high of $25.475. Next support is seen at $24.50 and then at last week’s low of $24.18. Wyckoff's Market Rating: 6.0.

September N.Y. copper closed up 790 points at 400.55 cents today. Prices closed near the session high today and hit a 13-week high. The copper bulls have the overall near-term technical advantage and gained more power today. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the April high of 418.25 cents. The next downside price objective for the bears is closing prices below solid technical support at 378.00 cents. First resistance is seen at today’s high of 401.55 cents and then at 405.00 cents. First support is seen at 385.00 cents and then at 390.00 cents. Wyckoff's Market Rating: 6.5.

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Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Gold investors will be watching US data like a hawk this week anticipating a weakening trend

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Gold investors will be watching U.S. data like a hawk this week, anticipating a weakening trend

Gold market will be hungry for information that will help provide some clarity to the Federal Reserve's open-ended monetary policy stance with disappointing economic data supporting higher prices.

While analysts are not expecting a major breakout in gold in the near term, some have said that the bias is to the upside as the Federal Reserve's monetary policy stance is expected to weaken the economy. Heading into the weekend, the gold market has pushed back above $1,950 an ounce, even as it sees a modest loss. August gold futures last traded at $1,958.80 an ounce, down 0.3% from last Friday.

In comparison, silver has seen a bigger struggle this past week as prices have managed to hold support above $24.25 an ounce. September Silver futures last traded at $24.45 an ounce, down 1.6% from last week.

Kevin Grady, president of Phoenix Futures and Options, said he expects gold prices to test the top end of its current range in reaction to softer data. He added that while a definitive softening trend could propel gold higher, even the slightest sign of weakness will be price supportive.

"The market is desperate for any type of clarity. Right now, the Federal Reserve is going to maintain their hawkish bias because they want to see inflation go down further, so any soft data that will shift that bias will be good for gold," he said.

While there are a variety of economic reports that investors will be able to sink their teeth into, the main event will be on Friday with the release of the U.S. Labor Department's July nonfarm payrolls report.

Lukman Otunuga, manager of market analysis at FXTM, said that because of the Federal Reserve's data-dependent stance, gold will be particularly sensitive to the employment numbers.

The Federal Reserve has said it would like to see some cooling in the labor market as a condition for controlling inflation. In the last report, the Labor Department said the economy created 209,000 jobs in June. This was the first time the employment data missed expectations since May 2022.

"Every US data point moving forward will act as a key piece that will determine whether the Fed raises rates one final time in 2023 or not. Given how markets are only pricing in an 18% probability of rate hike in September, with this jumping to only 37% by November, gold bulls remain in a comfortable position," Otunuga said. "The path of least resistance for gold points north with a disappointing jobs report next week potentially opening a path back towards $1985. A solid breakout above this point could open the doors towards the psychological $2000 level."

Some analysts have noted that along with benefiting from an inevitable shift in monetary policy, which will weaken the U.S. dollar, weaker economic data will also raise fears of a potential recession, supporting gold's safe-haven allure.

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Silver prices struggling as market ignores robust economic data

"Right now, central banks have the fraught responsibility of striking the balance just right on interest rates – investors will be looking for signs by which to judge the success or otherwise of the banks' actions," said Stuart O'Reilly, Market Insight Analyst at the Royal Mint, in a statement to Kitco News. "Persistently high inflation or signs that a major economy could tip into recession might lead some investors to increase their allocations to gold as a traditional ‘safe haven' – signs of economic recovery and falling inflation may have the opposite effect. As central banks navigate this challenging period, the jury is out on how gold will fare in the months ahead as global economies find out whether recent interest rate rises have gone too far, too quick."

Bob Haberkorn, senior commodities broker with RJO Futures, said he doesn't expect to see a significant breakdown in economic data next week. However, he added that the reports should start highlighting a slowing pattern.

"We are starting to see inflation turning in the right direction because interest rates are starting to bite into the economy," he said. "When you look at gold, it's in a great place. It is holding above $1,950 an ounce even after the Fed has raised interest rates above 5%. The minute the Federal Reserve indicates it's done tightening, we will see gold prices much higher."

Next week's data:

Tuesday: U.S. ISM manufacturing PMI, JOLTS job report

Wednesday: U.S. ADP nonfarm employment

Thursday: Bank of England monetary policy decision, jobless claims, ISM services PMI

Friday: U.S. nonfarm payrolls

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Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Markethives Reason For Being and Magnanimity Entrepreneur One: A Divine Legacy

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Markethive’s Reason For Being and Magnanimity. Entrepreneur One: A Divine Legacy


 

Markethive’s epic entrepreneurial ecosystem has come a long way since its Divinely inspired inception. Markethive now runs on its own servers, with the security of blockchain and its Hivecoin (HVC) so close to being released on crypto exchanges and self-custody wallets. We have arrived as the first mega-decentralized marketing and broadcasting network encompassed by a social media interface with a vision and mission to deliver an autonomous sovereign meritocracy en masse that is not subject to oppressive technocracy.

When the founder and CEO Thomas Prendergast was given this vision from the Lord to build Markethive, the basics had to be free for everyone, such as the newsfeed, video, autoresponders, capture pages, the rotator link, broadcasts, etc. All Tom had to do was work out how to fund the project. 

How was Markethive’s growth made possible?

Through the Divine inspiration and tenacity of the founders, the concept of the Entrepreneur One Loyalty Program (E1) was created.  When the Entrepreneur One Upgrade was constructed, it was designed to reward the person for seeing the vision and trusting Markethive, particularly Tom, to build this vision. 

Ergo, how the E1 works and what it does is a Divine inspiration. Firstly, it funds Markethive to build the vision, and in turn, it will give a magnificent return from the Initial Loan Protocol (ILP) or, as it’s more recently called, the Incentivized Loan Program, which is included in the E1. As the name suggests, it is a loan from you to the company that pays you back at the end of the term and gives you magnificent returns when Markethive opens it to the masses.  

Markethive did have numerous affluent investors preparing to invest millions of dollars into Markethive; however, various tragic events fell on each of them before finalizing their commitment. In Tom’s words, “…it’s so weird! It got to a point it was laughable.” 

But, Markethive does have a core of people who are dedicated to the Markethive vision and have given Markethive its “daily bread” by being an Entrepreneur One for $100 per month so Markethive can continue the Divine quest inspired by our Lord. It can only be explained as biblical. Because of the goodwill and conviction of some, Markethive has accumulated the money needed to move forward with development as fast as possible, funds permitting.

The world’s disastrous events, especially over the past three years, have been called biblical also, and this is the reason why the entrepreneurs of Markethive and the company have this imperative to free and help every living soul achieve financial and self-sovereignty. To be enlightened and awakened to the perils and evil that’s been active and, for the most part, hiding in plain sight for decades, if not centuries, from all of us. 

Markethive’s Engineers. A Divine Intervention

Markethive’s engineers came to Markethive through the Holy Spirit. They were told to work with Markethive through their relationship with the Lord, where they received messages and answers through inspiration. Markethive was the company they were directed to, and through their dedication, sacrifice, and ingenuity, the platform, with its unique concepts, is being built. We are so blessed to have them on board with us at markethive. 

Entrepreneur One Receives Many Rewards

The E1 wasn’t set up to be any particular time period, but as Tom & Co continues to build Markethive, the E1 has evolved and given those with one or more E1 accounts a variety of rewards. As explained in a previous article, there are many different rewards and opportunities to generate income allocated to the E1 member.  

The Banner Impressions Exchange (BIX) is one that has been overlooked up to this point. Since its release, it hasn’t been a huge moneymaker, but it will be. Keep in mind that the banners are only shared by a maximum of 500 E1 accounts. To explain its potential, let’s take LinkedIn as an example. 

LinkedIn has 750 million active users, which equates to 40 billion hits per day. When Markethive has those massive hits from 75 million users, and you’re one of only 500 E1 members that can sell your impressions to a potential 750 million people who want to run ads, they will be willing to pay $4-$5 per impression. The amount of income that alone can produce is significant. The revenue of just that one component of the E1 will increase over time, and it’s forever as long as you are an E1 and active.

The banner placement space that belongs to the E1s is showcased on the premium real estate of the Markethive site, which is the upper header space below the taskbar. The Banner Impressions Exchange is available to all members should they wish to buy impressions from the E1 members to place a banner in Markethive.      

The E1 Upgrade gives other excellent benefits, like a 100% matching bonus on your new signups and those brought in by the company. In other words, the E1s get all of the traffic Markethive is responsible for bringing in via marketing campaigns, and the signups are rotated to only the E1s. 

Another benefit is the upcoming Promocode issued by Markethive to the E1s. Each E1 member will have their own Promocode, and Markethive’s administrative control panel decides what products the Promocode gives. These incentives consist of WOF, Boosts, Markethive Credits, Markethive tokens, Push, Broadcast, HVC, etc. And these will be assigned in multiples! 

So when prospects sign up on your Markethive promocode site, they will receive what’s allocated once they’ve completed KYC. Furthermore, it’s free to you as an E1: Markethive includes this in the E1 Upgrade subscription.  

As Markethive builds its system, the daily bread has been coming in consistently via the Entrepreneur One Program, which has enabled Tom and the Engineers to produce the Premium Upgrade. The Premium Upgrade is one of the additional things they’ve added since Tom was told to give the platform away for free. 

Markethive’s Retail Products

We now have numerous facets added on top of the basics that Markethive can sell that are very valuable. Markethive now can create retail sales packages like the Premium Upgrade. We also have the Wheel of Fortune, the Boost, and the E1 banners and impressions.

In the works, we have the Push, which is a group that, when you publish in the group, your posts are on the top of every single newsfeed in view for every new person who signs up. The very top banner on the Markethive platform will also be available for sale, which is the ultimate in prime real estate and primarily for the company’s use.  We are also preparing to deliver the broadcasting, press releases, and video advertising. All of the above are Markethive’s retail products. 

More About The ILP

As stated earlier, The ILP is one aspect of the Entrepreneur One Loyalty Program but is separate. There is still some confusion about the difference between the E1 and ILP. To clarify, The E1 (Entrepreneur One Upgrade) is a $100 monthly subscription, where you earn 0.1 ILP after one year of consecutive payments, which accumulates every year while active. 

The ILP (Incentived Loan Program) is a loan to the company that is paid back to you via a balloon payment after 20 years, or you can re-initialize it for another 20 years. So, you are lending Markethive the money that the ILP represents. It also provides monthly payments or returns to you, which is 20% of the net revenue of Markethive’s retail products. This is paid to all ILP token holders per their pro-rata share as long as the principal is outstanding. 

Also, note that the ILP is an assumable note that you can transfer to anybody. For example, If you hand your Markethive account over to someone else, the ILP is theirs, and they benefit from the returns. There will be an ILP Exchange, like the upcoming E1 Exchange, where you can sell your ILPs. 

The Markethive legacy will last forever. Markethive’s ethos, ethics, and transparency allow everyone to benefit, including the BOD and Alpha shareholders from the previous company before Markethive. These members are grandfathered in, automatically receiving 0.5 ILP for BODs and 0.2 ILP for Alpha members. 

Right now, anyone can buy an ILP or part thereof with Markethive tokens, Bitcoin, bank transfers, or credit cards. You can also earn ILPs through the Entrepreneur One Program or win an ILP through the contests Tom holds occasionally. 

Remember, the ILP is not an ICO, which is a security. You are not buying it from Markethive on speculation that it will be worth more in the future, like stocks. The ILP is a loan, which is not a security but a legally binding and conforming loan agreement. Because it is a debt instrument, it is not subject to tax and is compliant with the USA UCC code governing debt instruments.

What Markethive, the company, pays out to you, in fact, all transactions, will come through the wallet Markethive has just finished building. The spectacular, very sophisticated wallet also keeps track of the ILPs you own, and you will be paid your 20% share of Markethive’s revenue with the profit of the retail products through your Markethive wallet. 

It’s important to note that the ILPs earned through the E1 Upgrade are bona fide and are yours to keep forever. Your earned ILPs will continue to pay you returns even if you cancel your E1 subscription. The ILPs will continue accumulating in the E1 Upgrade until all 1000 shares/ILPs are accounted for. 

Another Divine Inspiration from Tom

Here’s something to look forward to. Once the bona fide ILPs are dispersed, there will be what is called a Virtual ILP. (V-ILP) It will be produced to take its place and take another 10% of Markethive’s revenue. You will acquire the Virtual ILP in the E1 account that you have, and as long as it’s active, the Virtual ILP that it’s earning will pay out 10%. If you cancel the E1 subscription or sell it on the E1 Exchange, the V-ILP associated with that account will cease and no longer be payable to you. Unlike the original E1 Upgrade, you do not keep your ILP.

The E1 Is A Legacy Program

The Entrepreneur One Loyalty Program is a legacy program, and it’s Divine because not only does it empower Markethive to move forward, grow the company, and, as we move forward, be massively successful, but in turn, it pays back to each person who supported the company to fulfill its mission victoriously. Eventually, it will get to a juncture where there will be a tipping point, and more revenue will come into that ILP than what the E1s are paying out for their monthly subscription. 

Current Entrepreneur One members are urged to continue with their subscription as it will fuel their future wealth. Remember, it’s a loan from you that is paid back to you at the end. Meanwhile, 20% of Markethive’s revenue is also paid to you. This is unique and a gift from the Lord; no other company does this!  

The Markethive wallet has been accomplished and is functional for all intents and purposes. The wallet is just waiting for the Hivecoin launch to step outside of Markethive’s door, unleashing it to the global community. We are now very close to assigning Hivecoin and launching it to various wallets and exchanges.

The countdown will be activated at that time, and the announcement that the Entrepreneur One Loyalty Program is closing to new members and will not be available from the company, only E1 members through the E1 Exchange. You will have 30 days from the notification to either become an Entrepreneur One member or, if you have suspended your E1 Status, re-instate your E1 account to receive all the benefits and potential wealth it has to offer. 

But why wait? Become an Entrepreneur One now by subscribing for $100/month or save $200 when you purchase an E1 for $1000 for 12 months. Start accumulating your bona fide ILPs now. You’ll be an integral part of Markethive’s development envisioned for all humanity and be rewarded with a legacy of wealth to enjoy and pass on to your family.  

May the Lord bless and uphold you for all eternity…

 

 

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

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Gold prices push back above 1950 as US PCE inflation continues to cool rising 02 in June

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Gold prices push back above $1,950 as U.S. PCE inflation continues to cool rising 0.2% in June

Gold prices have pushed back above the critical psychologically important $1,950 level as U.S. inflation drops in line with expectations.

Friday, the U.S. Department of Commerce said its core Personal Consumption Expenditures price index increased 0.2% last month, compared to May's increase of 0.3%. The inflation rose in line with economists' expectations.

Inflation in the last 12 months rose 4.1%, down sharply from June's 4.6% increase. Annual inflation also came in a tick cooler than expected, with economists looking for a 4.2% rise. Looking at the broader trend, inflation remains stubbornly high, roughly double the Federal Reserve's target of 2%.

Meanwhile, headline inflation for the last 12 months rose 3.0%, compared to May's increase of 3.8%.

Although inflation remains stubbornly high, some analysts have noted that it continues to fall in the right direction, giving the Federal Reserve room to leave interest rates unchanged in September. A potential halt to the central bank's tightening continues to support gold prices.

August gold futures last traded at $1,955.90 an ounce, up 0.55% on the day.

Analysts note that growing cracks in consumption also support gold prices. The report noted that personal income is not keeping up with consumption.

Personal income increased 0.3% in June, compared to May's revised increase of 0.5%. The data missed expectations as economists looked for a 0.5% increase.

Meanwhile, consumers appear to be dipping into their credit to meet their shopping needs. The report said that consumption increased by 0.5% last month, compared to May's increase of 0.2%. Spending came in higher than expected, with consensus estimates calling for a 0.4% increase.

By

Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Gold silver slump after strong US data rallies greenback

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Gold, silver slump after strong U.S. data rallies greenback

Gold prices are solidly lower and hit a two-week low in midday U.S. trading Thursday. Silver is down sharply, too. Modest overnight gains in both metals were erased after the release of upbeat U.S. economic data this morning that beat market expectations. August gold was last down $27.10 at $1,943.00 and September silver was down $0.645 at $24.325.

U.S. economic data Thursday morning fell squarely into the camp of the monetary policy hawks, suggesting at least one more interest rate hike may be necessary to further cool the U.S. economy and choke off problematic price inflation. The first estimate of second-quarter U.S. gross domestic product came in at up 2.4%, year-on-year, which beat market expectations for a rise of 2.0%. The internals of the GDP report were also solid. Meantime, U.S. durable goods order were reported up 4.7% in June versus expectations for a 1.5% gain. Also, weekly U.S. jobless claims came in lower than expected. The data sharply boosted the U.S. dollar index and pushed U.S. Treasury yields up—both of which are daily bearish elements for the precious metals markets.

The marketplace Thursday pretty much digested Wednesday afternoon's 25 basis-point interest rate increase from the Federal Reserve. Fed Chair Powell's remarks at his press conference were deemed not too hawkish and not too dovish and the markets showed no big reactions. Some Fed watchers are thinking the central bank is now done with its rate-hike cycle, while others think the Fed will do one more rate increase in November.

Asian and European stock markets were mostly higher in overnight trading. U.S. stock indexes are higher at midday. The indexes are at or near their highs for the year amid a summertime rally.

In other news, the European Central Bank slightly raised its main interest rate at today's monetary policy meeting, as expected.

  ECB's data-dependent stance weakens euro against U.S. dollar, pushing gold prices to session lows

The key outside markets today see the U.S. dollar index sharply higher and posting its biggest daily gain in months. Meantime, Nymex crude oil prices are firmer and trading around $80.00 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching around 3.9%.

Technically, August gold futures prices scored a bearish outside day down today and hit a two-week low. Bulls have lost their slight overall near-term technical advantage. A three-week-old uptrend 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 the June low of $1,900.60. First resistance is seen at $1,960.00 and then at $1,975.00. First support is seen at $1,937.50 and then at $1,925.00. Wyckoff's Market Rating: 5.0.

September silver futures prices scored a bearish “outside day” down today. The silver bulls have the slight overall near-term technical advantage but faded today. A four-week-old price uptrend on the daily bar chart has been negated. Silver bulls' next upside price objective is closing prices above solid technical resistance at the July high of $26.475. The next downside price objective for the bears is closing prices below solid support at $23.00. First resistance is seen at $25.00 and then at today's high of $25.325. Next support is seen at today's low of $24.18 and then at $24.00. Wyckoff's Market Rating: 5.5.

September N.Y. copper closed down 290 points at 387.30 cents today. Prices closed nearer the session low today and scored a bearish outside day down. The copper bulls have the slight overall near-term technical advantage. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the June high of 396.40 cents. The next downside price objective for the bears is closing prices below solid technical support at 368.30 cents. First resistance is seen at the July high of 395.40 cents and then at 396.40 cents. First support is seen at Tuesday's low of 384.45 cents and then at last week's low of 378.10 cents. Wyckoff's Market Rating: 5.5.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Gold shows little reaction to widely expected 025 Fed rate hike

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Gold shows little reaction to widely expected 0.25% Fed rate hike

Gold prices are moderately higher in afternoon U.S. trading Wednesday and have shown little initial reaction to the U.S. central bank raising its main interest rate by a small amount, which was fully expected by the marketplace. August gold was last up $8.70 at $1,972.40 and September silver was up $0.181 at $25.005.

The just-released U.S. data point of the week, if not the month, saw the Federal Reserve's Open Market Committee (FOMC) raise the Fed funds rate by 25 basis points, to a range of $5.25% to 5.50% and at a 22-year high. The FOMC statement said U.S. economy is growing moderately but job gains have been "robust." Markets showed very little initial reaction. However, the marketplace will closely scrutinize Fed Chair Powell's remarks at his press conference for clues on the trajectory of Fed monetary policy in the coming months. Powell's press conference may be the bigger markets-mover this afternoon. Traders want to see if Powell continues to lean hawkish on U.S. monetary policy, or if he eases up a bit given the tamer U.S. inflation readings recently.

U.S. stock indexes are mixed in afternoon trading

 U.S. dollar to weaken as BOE and ECB play catch-up with the Fed, but it will remain the world's reserve currency – Invesco's Hooper

The key outside markets today see the U.S. dollar index weaker. Meantime, Nymex crude oil prices are weaker and trading around $79.00 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.887% and moved very little after the Fed rate increase and FOMC statement.

Technically, August gold futures bulls have the slight overall near-term technical advantage but need to show fresh power soon to keep it. Prices are in a three-week-old uptrend on the daily bar chart, but just barely. Bulls' next upside price objective is to produce a close above solid resistance at $2,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the June low of $1,900.60. First resistance is seen at today's high of $1,976.30 and then at the July high of $1,989.80. First support is seen at today's low of $1,963.20 and then at this week's low of $1,951.60. Wyckoff's Market Rating: 5.5

September silver futures bulls have the overall near-term technical advantage. A four-week-old price uptrend is in place on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at $26.00. The next downside price objective for the bears is closing prices below solid support at $23.00. First resistance is seen at the July high of $25.475 and then at $26.00. Next support is seen at this week's low of $24.425 and then at $24.00. Wyckoff's Market Rating: 6.5.

September N.Y. copper closed down 155 points at 390.00 cents today. Prices closed near mid-range today. The copper bulls have the slight overall near-term technical advantage. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the June high of 396.40 cents. The next downside price objective for the bears is closing prices below solid technical support at 368.30 cents. First resistance is seen at the July high of 395.40 cents and then at 396.40 cents. First support is seen at Tuesday's low of 384.45 cents and then at last week's low of 378.10 cents. Wyckoff's Market Rating: 5.5.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Bullion Trades above 1950 while markets await central banks decision

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

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

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

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Brand and Business Leverage Through Book Publishing

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Brand and Business Leverage Through Book Publishing

Brand and Business Building?

When you think of the word brand, what comes to mind, and where does it fit in your business-building strategy?

In layperson’s terms, a brand is about the widely held perception by which a business becomes known. It is usually seen in the slogan or tag accompanying a business name.

A typical example is Nike, who is known for the slogan – 'Just do it!' Nike is associated with decisiveness and action without excuse. Another is Coca-Cola, which is supposedly ‘The real thing.’

Now, whether you believe that or not is another thing, these slogans are used to frame the perception a company wishes you to hold when thinking about them. It is all too easy to come up with desirable, flashy concepts that appeal to the minds of onlookers and retail customers, and it's quite another thing to live by it.

Brand Building through Book Publishing

Similarly, in the book publishing world, it is relatively easy to rank as a bestseller once you understand the criteria and maths involved. It is possible to manipulate the statistics in your favour. 

For example, if an author buys 5000 of their own books from Amazon, well, that equates to 5000 sales and potential bestseller status. There are many who have done that for the status and to frame the perception of their onlookers. A best seller speaks to sales but not necessarily impact.


Image Source: Amazon

This type of practice can end up as a gimmick that will eventually come back to bite if your reason to do it is purely to sell rather than impact your audience.

With this all-important issue, book publishing can plug a much-needed gap, and when done properly, you can have the best of both worlds. After all, becoming a best seller means greater exposure, visibility, and publicity, which is valuable, especially when its roots are in the objective of impacting lives with applied knowledge that works.

With book publishing, you have the opportunity to help people view you as an expert in your field. So, let’s loop back and review why you may wish to publish a book as part of building your brand and, therefore, your business.

Why Publish a Book?

A book is a vehicle for organising, articulating, and publishing your message of expertise so that many can be helped where they struggle with the problems your expertise can solve. It imparts insight into the nature of those problems and provides clear steps by way of the solution that can be applied.

Some of the most influential books are those that share the author’s journey with the struggles they have now found solutions to. Why? Because experience is more powerful than theory alone. In terms of the customer journey, it helps with that part of the journey where they get to know, like, and trust you.

When you take that knowledge embedded within the personal journey of your struggles and discoveries and combine it with real-world case studies and examples of successful application, it helps to break the isolation of their journey reader further. It enables them to know that there is a possible solution.

Your book is the articulation of your solution, and it showcases your expertise and ability to solve problems your audience may be seeking. It amplifies your authority and credibility and allows your reader to test-drive your solution.

Many may seek your skilled input beyond a DIY application if your insights speak to the gaps in their application, and they are able to start to change the trajectory of their life and business.


Image Source: Scribe Media

Stepping out into Authorship

Unpacking your expertise
A great place to start is to unpack your knowledge and expertise onto paper in no particular order. This is often referred to as a brain dump. From that place, you can then start to organise your notes under categories or themes. If you try to do both at once, it may slow the process down. For a bit of fun, why not use an egg timer and do it against the clock to sharpen focus?

If you have got this far, you are doing well, but it is a wasted effort if you do not go on to complete this process. Research shows that approximately only 3% of people go on to complete the writing of their book.

There could be many reasons, including perfectionism, writer’s block, uncertainty about the process, and low confidence. Some people express themselves better in writing than verbally; for others, it is the other way around. Maybe, for some, the ‘imposter syndrome’ sets in because they perceive it to be too prestigious.

Things that could help are being interviewed by someone or recording your expressions in order to retain your voice and style of expression. Alternatively, you could consider getting someone to write your book once they have grasped the core points of your message. This is something that footballers and managers do. They hire ghostwriters to help them get their books out there. There are many ghostwriters, whether for fiction or non-fiction. 

You could go to a freelance site like fiverr. On the other hand, if you are a changemaker, you might prefer a more personalized approach compared to a traditional commercial approach to ghostwriting, so that would require more in-depth research to find someone who resonates with your criteria and will assist you throughout the process to break the overwhelm.

Authorship via Books
You can learn how to write a book by picking up the books of those who have inspired you and observing their literary style and organisation of expertise. Here is an example of one regarding leadership.

Authorship via Book Fayres
If you prefer the offline world where you can meet people face to face, you should visit a book fayre. They will cover everything from writing to publishing and promoting. Many agents and dealers will be advertising their publishing services.

Authorship via Teaching
The process of publishing a book can be daunting for many, so it may be unsurprising that only about 20%  go on to publish their book.  After all, beyond the writing and publishing of your book, there is the promotion to think about as well.

You might wish to enroll in an online masterclass in order to become an author, and there are many out there from those who want to be the next Malcolm Gladwell or otherwise.  

Authorship via Online Summits 
Suppose you want to garner the wisdom of people across the globe. In that case, online summits are a great idea because they focus on sharing the knowledge and experiences of many authors, which will bring many different facets to your authorship journey.

Some are paid in that either you pay to attend, or if you take part as one of the speakers, there is an expectation to cross-promote the event and the other speakers with a financial reward. In other words, the speaker becomes an affiliate of the summit.

There are others that are not so. These types of summits draw those who genuinely want to share and simply encourage you to share with no expectation of reward, which I prefer these days and have contributed to. 

Roger Bannister Effect

The great thing about exposing yourself to people who have been there and done it is that when you see so many authors who have gone before you who have just done it, it helps to raise the belief that it can be done and that you can do it. I often refer to this as the Roger Bannister Effect.


Image source: Wikimedia

Roger Bannister broke the 4-minute mile, and when he did so, many went on to break it because, in his accomplishment, his demonstration broke the limiting belief that it was impossible. Nelson Mandela is often quoted as saying, “It always seems impossible until it's done.”

Publishing

There are a few options depending on how much control you want over the editing, marketing, and royalties. You might decide to self-publish and get your book on Kindle and Amazon. 

You can also get help publishing your book on Amazon and Kindle through freelance sites, which is an obvious starting place for many who are starting out. If you decide to use Amazon as a start, consider how you will capture the contact details of prospective readers first so you can grow your audience, not just your book sales.

You might wish to hire a publisher who will offer in-house publishing and promotional services. You might even consider a major publisher if you have an already established audience, but be prepared for less control and royalties.

I recall writing my first book publishing project, and I will share this experience on my personal blog at some point, as there were many things that went well and things that did not, but it was a valuable experience, one that I can build on. 

The key thing is to get started. There is no substitute for experience; you can always iterate and improve as you go along. So now it's your turn.

Become an author of your expertise and turn the impossible into possible so that you can make a difference and impact the lives of those seeking what you have to offer.

 

 

About: Anita Narayan. (United Kingdom) My life's work is about helping individuals to greater freedom through joy and purpose without self-sabotage, so that inspirational legacy can serve generations to come. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.
 

 

 

 

 

 

Tim Moseley

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Gold silver weaker as USDX continues its rebound

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Gold, silver weaker as USDX continues its rebound

Gold and silver prices are moderately lower in midday U.S. trading Monday, pressured by the U.S. dollar index continuing its recovery after hitting a 15-month low last week. Focus of the marketplace is on a key central bank decision at mid-week. August gold was last down $4.50 at $1,962.00 and September silver was down $0.245 at $24.61.

The U.S. data point of the week is the Federal Reserve's Open Market Committee (FOMC) meeting that begins Tuesday and ends Wednesday afternoon with a statement. Most market watchers believe the Fed will raise the main U.S. rate, the Fed funds rate, by 0.25%. As usual, the marketplace will closely scrutinize the FOMC statement and Fed Chair Powell's remarks at his press conference for clues on the trajectory of Fed monetary policy in the coming months.

A Barron's news headline today reads: “Tech earnings, Fed rate call, inflation data—expect crucial answers this week."

Asian and European stock markets were mixed in quieter overnight trading. U.S. stock indexes are mixed at midday. The U.S. stock indexes are hovering near their highs for the year.

Kitco daily macro-economic/business digest – July 24

The key outside markets today see the U.S. dollar index firmer. Meantime, Nymex crude oil prices are higher and trading around $79.00 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.837%.

Technically, August gold futures bulls have the slight overall near-term technical advantage but need to show fresh power soon to keep it. Prices are in a three-week-old uptrend on the daily bar chart, but just barely. Bulls' next upside price objective is to produce a close above solid resistance at $2,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the June low of $1,900.60. First resistance is seen at today's high of $1,969.80 and then at Friday's high of $1,975.90. First support is seen at last week's low of $1,958.10 and then at $1,950.00. Wyckoff's Market Rating: 5.5.

September silver futures bulls have the overall near-term technical advantage. A four-week-old price uptrend is in place on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at $26.00. The next downside price objective for the bears is closing prices below solid support at $23.00. First resistance is seen at today's high of $24.89 and then at $25.00. Next support is seen at today's low of $24.425 and then at $24.00. Wyckoff's Market Rating: 6.0.

September N.Y. copper closed up 310 points at 384.90 cents today. Prices closed near the session high today. The copper bulls and bears are on a level overall near-term technical playing field amid choppy trading. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the June high of 396.40 cents. The next downside price objective for the bears is closing prices below solid technical support at 368.30 cents. First resistance is seen at 388.85 cents and then at 396.40 cents. First support is seen at last week's low of 378.10 cents and then at 374.25 cents. Wyckoff's Market Rating: 5.0.

By

Jim Wyckoff

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Time to Buy Gold and silver

Tim Moseley

The Artist that came out of the Winter