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Gold silver getting hammered by rising bond yields strong greenback

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Gold, silver getting hammered by rising bond yields, strong greenback

Gold and silver prices are solidly lower in midday U.S. trading Wednesday, with December gold futures notching a 6.5-month low and dropping below psychological support at $1,900.00. An up-trending U.S. dollar index that hit a 10-month high overnight and a 10-year U.S. Treasury note yield that scored a 16-year high this week are bearish outside market elements for the two precious metals. December gold was last down $23.40 at $1,896.40 and December silver was down $0.381 at $22.815.

A still-hawkish Fed continues to squelch the metals market bulls. Today in my weekly “Front Burner" email report I mentioned respected JP Morgan CEO Jamie Dimon recently said the marketplace needs to be prepared for a 7% Fed funds rate in the coming months. The Federal Reserve's FOMC last week held the Fed funds rate steady, at a range of 5.25% and 5.50%. The present consensus of the marketplace is one more 0.25% rate increase, or maybe no more rate hikes at all. “Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%," Dimon said in an interview with the Times of India. Dimon added he is worried about stagflation setting in, whereby interest rates rise but economic growth stagnates. The JP Morgan chief is presently on the marketplace fringes in his thinking about much higher interest rates. However, I'm generally in Dimon's camp. Although the Fed funds rate may not reach 7% next year, I think the Federal Reserve remains stubbornly hawkish on U.S. monetary policy, which means there is a good chance for a 6% Fed funds rate or a bit more in 2024. That's a bearish scenario for the metals. (If you have not read today's Front Burner report, email me at jim@jimwyckoff.com and I'll forward that report to you. Just put “Front Burner" in the subject line. In today's report I provided forecasts for major markets' price action in the coming months.)

  Politics are behind spot Bitcoin ETF delays, BTC price to re-test record highs in the next 18 months – Mike Belshe

U.S. stock indexes are lower and hit multi-month lows today. Risk appetite is still dented at mid-week, as a likely U.S. government shutdown this weekend is weighing on marketplace sentiment.

The key outside markets today see the U.S. dollar index higher and hit 10-month high. Nymex crude oil prices are sharply higher, hit a 13-month high and trading around $93.75 a barrel. A Wall Street Journal headline today reads: “Quiet Western drills set stage for $100 oil." Meantime, the benchmark U.S. Treasury 10-year note yield is presently near this week's multi-year high and fetching 4.587%.

Technically, December gold futures prices hit a 6.5-month low today. Bears have the solid overall near-term technical advantage and gained more power today. A five-month-old downtrend is in place on the daily bar chart. Bulls' next upside price objective is to produce a close above solid resistance at $1,950.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,850.00. First resistance is seen at $1,913.60 and then at today's high of $1,921.70. First support is seen at the February low of $1,883.80 and then at $1,875.00. Wyckoff's Market Rating: 2.0.

December silver futures bears have the overall near-term technical advantage. However, there are solid technical support levels just below the market that begin to suggest a market bottom is in place. Silver bulls' next upside price objective is closing prices above solid technical resistance at last week's high of $24.05. The next downside price objective for the bears is closing prices below solid support at $22.00. First resistance is seen at today's high of $23.12 and then at $23.39. Next support is seen at today's low of $22.64 and then at the September low of $22.555. Wyckoff's Market Rating: 3.0.

December N.Y. copper closed down 115 points at 363.75 cents today. Prices closed near mid-range and closed at a four-month low close today. The copper bears have the solid overall near-term technical advantage. Prices are in a choppy, seven-week-old downtrend on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 380.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the May low of 358.60 cents. First resistance is seen at Tuesday's high of 368.35 cents and then at this week's high of 370.55 cents. First support is seen at this week's low of 362.75 cents and then at 360.00 cents. Wyckoff's Market Rating: 2.0.

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Jim Wyckoff

For Kitco News

Time to Buy Gold and Silver

Tim Moseley

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Cryptocurrencys Rise in Cuba: Hope Shines in Tough Economical Waters

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Cryptocurrency's Rise in Cuba: Hope Shines in Tough Economical Waters

For many years, Cuba has faced serious economic challenges that have deeply affected the daily lives of its people. These challenges include trade restrictions, shortages of basic goods, and a lack of foreign investment. However, amidst these difficulties, Bitcoin offers a glimmer of hope to Cubans.

Although Bitcoin is still relatively new in Cuba, it's slowly gaining popularity among the population. One significant reason for this is Cuba's unique dual currency system, which has made Bitcoin an appealing alternative to traditional financial systems. Additionally, more Cubans are turning to Bitcoin to receive remittances from family members living abroad, further solidifying its role in their daily lives.

The increasing use of Bitcoin has sparked optimism that it could help revitalize Cuba's economy and empower its people. This digital currency holds the potential to bring about economic resilience and financial independence for Cubans. In this article, we'll explore the growing adoption of Bitcoin in Cuba and its potential to shape a brighter economic future for the nation. Join us as we uncover how a digital currency is influencing the destiny of an island nation in pursuit of better economic prospects.


Image source: Dialogo Americas

The Evolution of Cuba’s Economy

Cuba currently faces one of its most severe economic crises since the early 1990s, a period characterized by the collapse of the Soviet Union, which had been the primary source of support for the island nation. During this era, Fidel Castro, the enduring dictator, called upon citizens to unite and endure what he termed a "special period." It was marked by food shortages, frequent blackouts, a significant exodus of Cubans to Florida on perilous rafts, and a devastating devaluation of the Cuban peso, pegged to the Soviet ruble. Between 1991 and 1994, Cuba's economy contracted by a staggering 35%, resulting in a substantial decline in the people's quality of life.

The summer of 1994 witnessed the Maleconazo uprising, a notable anti-government protest in Havana fueled by the failure of the state's ration system, which depended heavily on Soviet support. Essential goods suddenly became accessible only through the use of dollars, a currency increasingly elusive for Cubans with peso-based incomes. In a desperate bid to sustain its faltering economy, the regime abandoned its collectivist principles and imposed unprecedented taxes on the population. In response, tens of thousands of protestors converged along the Malecon waterfront, demanding an end to the government's rule.

During this period, the internet was non-existent, allowing the regime to suppress the movement through brutal police tactics, ensuring that most Cubans remained unaware of the scale of the protests. State-controlled media dismissed the events as a small gathering of delinquents and troublemakers. In reality, the Maleconazo represented a significant display of dissent, the most substantial since the Cuban Revolution in 1959.

Fast forward to today, and Cubans are again referring to a new "Special Period." This time, it is driven by currency reforms and decades of frustration stemming from political repression and bureaucracy. Shortages, frequent power outages, rampant inflation, and widespread protests mark the outcome. The key difference today is the presence of mobile phones and internet access, which keeps the world informed about the situation. On July 11, 2023, Cuba experienced its largest anti-government protest since 1959 in Havana and across cities nationwide.

Cuba, with its scorching climate, grapples with daily electricity shortages. Essential food items like beef, fish, chicken, and eggs are scarce or unobtainable. Obtaining necessities such as food, medicine, and sanitation supplies has become a daily challenge. The power grid is in disarray, and the healthcare system is on the brink of collapse. Oxygen and fans are in short supply, and an increasing number of elderly citizens are losing their lives. At the heart of the government's failures and the unprecedented uprising of its citizens lies a financial crisis.

In January, the Communist Party of Cuba initiated a "monetary purification" process. Since 1994, the government has been issuing two types of currencies: the CUP (Cuban peso), pegged to the dollar at a rate of 24:1, and the CUC (Cuban convertible peso), pegged at 1:1 to the dollar.

While public sector salaries and pensions were paid in pesos, citizens needed CUCs to purchase essential items such as medicine, non-basic foods, clothing, cleaning supplies, and electronics. The regime designed this system to drain value from the population by selling CUCs for 25 pesos at state-run money exchanges (cadecas) while repurchasing them at 24 pesos. 

The government understood that it had to continually print and inflate pesos to sustain its centrally planned economy, even as the agricultural and industrial sectors collapsed. This dual-currency system maintained the purchasing power of the elite and well-connected while creating an economic disparity.

This system created a stark contrast where state employees, including teachers, police officers, and healthcare workers, were at a severe economic disadvantage compared to those involved in the tourist industry, such as waitstaff and taxi drivers.

As of January 1, 2021, the CUC was officially phased out, and Cubans were given six months to exchange their CUCs for pesos at the official exchange rate. This transition effectively robbed Cubans of their hard-earned CUCs, as they were forced to exchange them for rapidly depreciating pesos. Even before January, CUCs traded at a 15% discount to the dollar.

The government extended the window for Cubans to redeem CUCs for a few additional months. Still, usage has dwindled, replaced primarily by the MLC (moneda libremente convertible, or "freely convertible currency"). Introduced by the regime in 2019 as the future monetary system of the island, the MLC operates like a reusable gift card. A plastic MLC card is available at banks, along with two mobile apps for transactions. However, MLC lacks banknotes, coins, or interest-earning capabilities. Its functionality primarily revolves around Cubans receiving hard currency from contacts abroad, which the regime confiscates, replacing it with MLC credit for citizens to spend at government-run stores.

In a cruel irony, Cubans, who are predominantly paid or pensioned in pesos, cannot purchase MLC with their own currency. To officially top up their MLC accounts, they must use foreign hard currency, often sent by family or contacts abroad. Initially, this could be done with dollars, but due to the Trump administration's crackdown on remittances to Cuba, MLC is now mainly acquired through pounds, euros, and Canadian dollars.

Building upon a trend that began 25 years ago when better goods were only available in dollar stores, today's MLC stores are essentially the sole source of quality food, medicine, cleaning supplies, appliances, and other essentials. Peso stores regularly face shortages and offer limited and low-quality products. Cubans with family abroad can obtain MLC top-ups and purchase necessities to sustain their lives. In contrast, those without such connections must resort to the black market to acquire MLC, where the exchange rate is approximately 65 pesos for one MLC.

The Cuban regime effectively prints pesos through the MLC system to acquire hard currency. It's a massive deception perpetrated on the Cuban population and a major driving force behind the historic protests we witness in Cuba.


Image source: Crypto News

Finding Freedom Through Bitcoin

Bitcoin, a symbol of freedom and a reminder of American liberty, traces its origins back to the American Revolution. It was born out of a desire to break free from Britain's control of war and monarchy.
Now, let's jump to 2023, where a new kind of tyranny is on the horizon in every part of the world. Bitcoin offers us an opportunity to escape the control of central bankers, a chance to choose a different path. Its popularity is growing to the point where these financial authorities can no longer maintain their grip. This isn't just about changing our monetary system; it's about reclaiming control, securing financial freedom, and building generational wealth.

Cuba has a history of rebels and resilient spirits. Brave individuals who resisted the iron grip of the Castro regime are now at the forefront of a different kind of revolution—Bitcoin. In the past, talking about Bitcoin in Cuba had to be done secretly. Today, it's open, a topic of discussion, and offers hope through the Lightning Network. 

In a country where the once-powerful peso has become nearly worthless, Bitcoin provides a lifeline. The average salary in Cuba is barely enough to survive on. When the cost of coffee beans for your morning espresso exceeds a Cuban's monthly wage, something is seriously wrong. Bitcoin offers a way out, a path to a better future.

Bitcoin transactions in Cuba occur through Telegram groups and the Lightning Network. They're nearly feeless and shrouded in secrecy to avoid government scrutiny. Traditional institutions have failed the Cuban people, but they've found new hope in Bitcoin. It's a way to preserve their energy, wealth, and hard-earned money over time.

For many Cuban businesses struggling to pay foreign suppliers, Bitcoin is the solution. It's a lifeline for acquiring essential goods that Cuban pesos or MLCs cannot buy. Bitcoin's presence is everywhere, from the heart of Havana to the bustling streets of Santiago. It's a revolution, a declaration, and a defiant response to a history of tyranny, oppression, hyperinflation, and despair.

Historical revolutions were led by visionaries but driven by the courageous. In modern-day Cuba, that courage is reflected in satoshis stored in Bitcoin wallets—a dream of an unburdened and unrestrained Cuba. Cuba is embracing Bitcoin wholeheartedly, educating its people, and making it a part of their future. They understand that in the long run, Bitcoin will remain while the Cuban peso may not.

The Cuban Bitcoin community is growing, and Bitcoin is their symbol of hope. They don't worry about market ups and downs; they worry about the survival of the Cuban peso. Bitcoin is their lifeline and their path to financial freedom. In this quest for freedom and defiance, we salute the rebels, the dreamers, and the trailblazers. The Bitcoin Revolution is here, and it won't wait for anyone. Join in or step aside.


Image source: CNBC 

A New Era Dawns in Cuba

Much like other closed regimes such as North Korea and the Soviet Union, Cuba is experiencing a profound transformation thanks to technology and access to outside information. The nationwide protest movement on July 11 wouldn't have been possible without the digital tools that enable people to organize and connect.
In Cuba, the internet is dismantling the consensus held by the ruling elites, who rely on controlling information. If the internet continues to thrive in Cuba, it could eventually lead to the fall of the Cuban government. However, despite nearly two decades of economic reforms and half a decade of an increasingly connected population, the Cuban communist party maintains its grip on power.

The government's resistance to change and its conservative nature have helped it endure for decades. While Bitcoin offers a way for the government to accumulate the world's hardest currency, those in charge may not consider it a risk worth taking. On the U.S. front, the Biden administration is reviewing remittances to Cuba to find ways for people in the U.S. to send money to their families on the island without supporting the regime.

During the recent turbulent weeks, one thing has become evident: a growing number of Cubans are no longer willing to wait for their government to implement reforms or for the Biden administration to ease sanctions. They are taking control of their financial destinies through Bitcoin.

While the current political protests may demonstrate that Cubans are weary of dictatorship, they might not be enough to bring down the regime. Many have predicted the fall of the Castro regime over the decades, only to be proven wrong. In the meantime, Cubans will continue their peaceful protest by opting out of the exploitative peso and MLC systems and embracing Bitcoin. After six decades of economic hardship, they have finally found a way out. Bitcoin has become a quintessential Cuban movement and a solution that appears unlikely to be halted.

Conclusion

As Cuba grapples with a severe economic crisis and restricted access to traditional financial systems, the emergence of Bitcoin provides a beacon of hope for the nation's future prosperity. Adopting this decentralized cryptocurrency opens up a world of possibilities for Cubans to explore alternative monetary solutions and seize control of their financial destinies.

In a landscape marked by trade embargoes, commodity shortages, and limited foreign investment, Bitcoin represents a lifeline to economic resilience. Its borderless nature transcends the constraints of traditional banking, offering Cubans a pathway to financial empowerment. By embracing Bitcoin, they can break free from the shackles of economic instability that have persisted for decades.

However, the journey toward widespread Bitcoin adoption in Cuba has its challenges. Limited internet access poses a significant hurdle, hindering the ability of many Cubans to fully participate in the digital economy. Regulatory ambiguity also looms as a potential impediment.

Yet, the potential benefits for the Cuban people are nothing short of transformational. Bitcoin empowers individuals to take control of their wealth and participate in the global economy on their own terms. It represents an opportunity for financial inclusion, economic self-determination, and the pursuit of brighter economic horizons. 

As we witness the early stages of Bitcoin's journey within Cuba, it's clear that this digital currency has the power to reshape the nation's economic destiny. It offers a glimmer of hope amid adversity, a lifeline for those seeking financial stability, and a symbol of resilience for a country with a rich history of overcoming challenges. 

In closing, let us remain hopeful and watchful as Cuba navigates this transformative path. With each Bitcoin transaction and each step towards financial independence, the Cuban people inch closer to a future where economic prosperity knows no bounds.

 

 

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

 

 

 

 

 

 

Tim Moseley

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Gold remains well supported as potential credit risk events drive safe-haven demand – MarketVector’s Joy Yang

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Gold remains well supported as potential credit risk events drive safe-haven demand – MarketVector's Joy Yang

The gold market is trading near a five-week low as the U.S. dollar and 10-year bond yields consolidate at elevated levels; however, according to one market strategist, gold still remains an essential safe-haven asset.

In a recent interview with Kitco News, Joy Yang, global head of index product management at MarketVector Indexes, said that despite gold's lackluster performance, she doesn't see any significant shift from where gold started the year.

The comments come as gold prices look to test support at its August lows, just above $1,900 an ounce. December gold futures last traded at $1,919.40 an ounce, down nearly 1% on the day.

Although a resilient economy and persistently high inflation are forcing the Federal Reserve to maintain a "higher-for-longer" monetary policy, Yang said that uncertainty remains elevated and should keep safe-haven assets like gold well supported.

"Despite what the Federal Reserve has said, it's still not clear to me that we're headed for a soft landing," she said. "Investors are in a ‘wait-and-see' mode and that is why we have not seen any major momentum in gold."

In this market complacency, Yang said that investors are underpricing event risks. She pointed out that higher interest rates could make it difficult for consumers to weather any financial turmoil. She added that inflation risks are not going away as gasoline prices rise again and food prices remain elevated.

"Cash isn't as widely available as it used to be, and we are starting to see some cooling in the labor market," she said. "A lot of consumers will soon face some economic challenges, so I'm not optimistic that we will see a soft landing."

Yang said that while the U.S. economy has been resilient, it might not be able to withstand the global slowing trend. She noted that both China and Europe are seeing weaker economic activity.

She said that this uncertainty is helping gold prices hold long-term support above $1,900 an ounce, and added that although prices can go lower in the near term, it would not take a significant risk-off event to shift the momentum in the precious metal.

"I think gold is holding support at these elevated levels because it is positioning itself for some global macro risk event that may materialize despite the current strength of the U.S. economy," she said.

Yang said that one problem starting to creep back into the marketplace is the potential for another credit risk event as the Federal Reserve's aggressive monetary policies drive bond yields higher. Yang's comments come as U.S. 10-year bond yields push solidly above 4.5% to a fresh 16-year high.

While the current bond market selloff has been reasonably orderly, according to some economists there are growing risks that the bond market will become unanchored as U.S. debt continues to grow.

  Gold to hit $2k by end of 2023, reach $2,200 an ounce in 2024 as dollar weakens – SocGen

Late Monday, rating agency Moody's said that a government shutdown, as Congress has been unable to pass any funding bills, could threaten the nation's sovereign debt rating.

"A shutdown would be credit negative for the US sovereign," Moody's said in its report.

"In particular, it would demonstrate the significant constraints that intensifying political polarization put on fiscal policymaking at a time of declining fiscal strength, driven by widening fiscal deficits and deteriorating debt affordability."

Moody's is the last of the 'big three' credit rating agencies that still gives the US a AAA rating with a stable outlook.

"There are still significant risks for the economy that investors just aren't pricing in," she said. "Gold is an attractive asset because we are not in a state where we can relax. There is still a real need for safe-haven assets."

By

Neils Christensen

For Kitco News

Time to Buy Gold and Silver

Tim Moseley

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Gold to hit 2k by end of 2023 reach 2200 an ounce in 2024 as dollar weakens – SocGen

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Gold to hit $2k by end of 2023, reach $2,200 an ounce in 2024 as dollar weakens – SocGen

While French Bank Société Générale has slightly reduced its exposure to the precious metal, it still remains positive on the precious metal as inflation remains stubbornly elevated amid plans by the Federal Reserve to end its tightening cycle.

Despite gold's lackluster performance through the summer, SocGen is optimistic that prices have a path back to $2,000 an ounce.

"Headline inflation continues to cool, but core inflation remains stubbornly high, and the Fed is near its cyclical peak. As the timing of a potential US recession recedes, these developments give the Fed the opportunity (and the obligation) to keep rates higher for longer to fight inflation. This should keep real rates elevated, and – combined with the strong dollar – creates headwinds that should cap gold prices at or below $2,000/oz to the end of this year, in our view," the bank's commodity analysts said in their latest outlook report.

Looking to the new year, the analysts said that they see gold prices pushing to $2,200 an ounce by the end of 2024 as investors realize how difficult it will be for central banks to bring core inflation down to their 2% targets.

"With the low-hanging fruit in the inflation fight already picked, we think the gold market will have to price in higher forward CPI projections. As a result, we see gold appreciating to $2,200/oz in lumpy moves by end-2024, as the market adjusts its forward inflation expectations with the macro newsflow. Further, in our anticipated scenario of moderating US rates, we see the USD weakening – an additional bullish driver that should buoy gold, together with other USD-denominated assets," the analysts said.

Although SocGen is bullish on gold, they noted that the precious metal will face a bumpy road. They said that there is still room for investment demand to weaken. The comments come as holdings in the world's biggest gold-backed exchange-traded fund have fallen to their lowest levels since January 2020.

"Despite 139t of gold being withdrawn from ETF coffers since early June, the current value, at 2,789t is more than 20% above the average holding in 2016-20 (before large inflows due to COVID panic). These elevated holdings open the door for further outflows from ETFs in the short term if no bullish catalysts galvanize investors to diversify further into gold," the analysts said.

At the same time, the bank sees some downside risks in gold's speculative positioning.

  Hedge funds still neutral on gold, silver as economic uncertainty supports prices

"While money managers' long positioning has remained elevated in 2023, we noted a strong increase of short positions in August. Gold is close to being overbought on both the 1-year and 2-year windows, according to our OBOS model. Despite the large increase in short contracts held by money managers in August, short positioning remains average. This means the highest risk for gold in terms of positioning would be a long liquidation," the analysts said.

Although the bank remains bullish on gold, last week, it announced it was lowering its exposure to the precious metal in its Multi-Asset Portfolio Strategy. Heading into the fourth quarter, SocGen now holds 5% of its portfolio in gold, down from 6% in the third quarter.

Gold represents 50% of its commodity strategy, as it holds another 5% in broader commodities, with a focus on oil.

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Neils Christensen

For Kitco News

Time to Buy Gold and Silver

Tim Moseley

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Some things are better some stay the same – Lundin Group’s Adam Lundin on mining gaining favor

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Some things are better, some stay the same – Lundin Group's Adam Lundin on mining gaining favor

Governments are more responsive but some organizational issues persist, said Lundin Group chair Adam Lundin when asked if mining is any easier due to the sector gaining favor due to energy transition.

Lundin spoke to Kitco mid-September at the Canadian Securities Exchange office in Vancouver, B.C.

The Lundin Group has a controlling stake in a number of miners and juniors, such as Lundin Mining, Lundin Gold and Filo. All are up sharply over the past year, countering a tough commodity market.

Governments in the Americas and Europe have been more supportive of mining to ensure a flow of critical minerals needed for electric vehicles. Lundin noticed some benefits.

"You can get access to government officials and people you need to talk to. That's extremely helpful," said Lundin. "At the same time I still find the U.S. very challenging when it comes to permitting. You have a bunch of agencies saying let's support the metals business, but they're not necessarily all talking with each other. It still takes time to get that permit."

Lundin is re-organizing the businesses geographically. Energy and renewable business will be run out of Geneva. Mining businesses will be located in Vancouver.

"What we're really trying to establish is a center of excellence," said Lundin, noting that business challenges can be tackled more effectively as a group. "It's easier when you're all in the same town."

Lundin said the junior sector is tough.

"I admire and respect everybody who wants to have a go at it," said Lundin. "It takes deep pockets, and if you miss the cycle, it can be tough. Make sure you cater to your shareholders and local communities. You can have success but obviously exploration is a challenging game."

Kitco Mining’s coverage of the Precious Metals Summit 2023 was sponsored by Newcore Gold.

  Lawrence Lepard, founder of Equity Management Associates, on why gold companies have performed poorly

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Michael McCrae

For Kitco News

Time to Buy Gold and Silver

 

Tim Moseley

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The Benefits of Joining Markethivecom: Free Marketing Tools for Your Success

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The Benefits of Joining Markethive.com: Free Marketing Tools for Your Success

MARKETHIVE

Markethive.com is a powerful platform that provides entrepreneurs with a range of free marketing tools to help them grow their businesses. These tools are designed to help users create and manage effective marketing campaigns, build their online presence, and connect with potential customers. When you join Markethive, you get access to a variety of free marketing tools that can help you take your business to the next level.

One of the key benefits of joining Markethive is the range of free marketing tools that are available to users. These tools include everything from email marketing and social media management to lead generation and analytics. By using these tools, entrepreneurs can create and manage effective marketing campaigns that reach their target audience and drive sales.

In addition to the free marketing tools that are available on Markethive, users also benefit from the platform's unique business model. Markethive operates on a decentralized blockchain system, which means that users have greater control over their data and their marketing campaigns. This model also allows users to earn cryptocurrency rewards for their contributions to the platform. Overall, Markethive is an excellent platform for entrepreneurs who want to grow their businesses and take advantage of the latest marketing tools and technologies.

Key Takeaways

  • Markethive.com offers a range of free marketing tools to help entrepreneurs grow their businesses.
  • By joining Markethive, users can take advantage of a unique decentralized blockchain system that provides greater control over their data and marketing campaigns.
  • Markethive's business model allows users to earn cryptocurrency rewards for their contributions to the platform.

Understanding Markethive

ecosystem for entrepreneurs

What is Markethive

Markethive is an ecosystem for entrepreneurs that offers free online marketing tools to help businesses build their online presence. The platform is built on blockchain technology and combines the power of LinkedIn, Marketo, and Amazon. The primary goal of Markethive is to empower entrepreneurs with the tools they need to succeed in the digital world.

Markethive offers a range of free marketing tools, including a social media platform, email marketing, blogging platform, and more. Users can also access advanced features by upgrading to a paid membership. The platform is designed to be user-friendly, making it easy for entrepreneurs to create and manage their online presence.

The Concept of Infinity Airdrop

Markethive's Infinity Airdrop is a unique concept that rewards users for their participation on the platform. The airdrop rewards users with Markethive's cryptocurrency, MHV, for their daily activity on the platform. This includes activities like logging in, creating content, sharing content, and more.

The Infinity Airdrop is designed to be a sustainable way to reward users for their participation on the platform. The airdrop is funded by Markethive's advertising revenue, which means that as the platform grows, so does the airdrop. This creates a self-sustaining ecosystem where users are rewarded for their participation, and the platform benefits from increased engagement.

Overall, Markethive is a powerful platform that offers entrepreneurs the tools they need to succeed in the digital world. With its range of free marketing tools and unique Infinity Airdrop concept, Markethive is a must-try for any entrepreneur looking to build their online presence.

Free Tools Available on Markethive

Markethive is an all-in-one inbound marketing platform that provides entrepreneurs with an array of free marketing tools to help them build their online business. Here are some of the free tools that are available on Markethive:

Email Address

One of the most important tools provided by Markethive is a free email address. With this email address, entrepreneurs can send and receive emails from their customers and prospects. The email address is also integrated with the Markethive platform, which means that entrepreneurs can manage their email campaigns directly from the platform.

Content Creation

Markethive provides entrepreneurs with a suite of content creation tools that they can use to create high-quality content for their website or blog. These tools include a blog platform, a content management system, and a content creation wizard. The content creation wizard is particularly useful for entrepreneurs who are new to content creation, as it provides step-by-step guidance on how to create effective content.

Broadcasting Tools

Markethive also provides broadcasting tools that entrepreneurs can use to promote their content and engage with their audience. These tools include a social media broadcasting platform, a press release platform, and a video broadcasting platform. With these tools, entrepreneurs can reach a wider audience and build their brand.

Image Management

Finally, Markethive provides entrepreneurs with an image management tool that they can use to manage their images and graphics. This tool allows entrepreneurs to upload, edit, and store their images in one central location. They can also use the tool to resize and optimize their images for different platforms.

In conclusion, Markethive provides entrepreneurs with a range of free marketing tools that they can use to build their online business. These tools cover everything from email marketing to content creation, broadcasting, and image management. With these tools, entrepreneurs can create a strong online presence and grow their business.

Benefits of Joining Markethive

Markethive is a social marketing platform for entrepreneurs that offers a range of free marketing tools to help businesses grow. Here are some of the benefits of joining Markethive:

Lead Generation

Markethive offers a range of tools that can help businesses generate leads. For example, the platform offers a viral blogging system that allows businesses to create and publish content that can be shared across social media platforms. This can help businesses attract new customers and build their brand.

In addition, Markethive offers a powerful email marketing system that can help businesses reach out to potential customers and build relationships with them over time. The platform also offers a range of other lead generation tools, such as a list building system and an internal capture page system.

Professional Life Enhancement

Markethive is not just a platform for generating leads and marketing products. It is also a community of like-minded entrepreneurs who are dedicated to helping each other succeed. By joining Markethive, businesses can connect with other entrepreneurs, share ideas, and learn from each other.

Markethive also offers a range of educational resources that can help entrepreneurs improve their skills and knowledge. For example, the platform offers a series of training videos on topics such as social media marketing, SEO, and email marketing.

Entrepreneurial Opportunities

Markethive is more than just a marketing platform. It is also a marketplace where businesses can buy and sell products and services. By joining Markethive, businesses can tap into a network of potential customers and partners, and expand their reach.

In addition, Markethive offers a range of entrepreneurial opportunities, such as the ability to earn cryptocurrency by participating in the platform's Infinity Airdrop program. This program rewards members with a valuable set of coins to begin their membership in the Hive, and members can earn additional coins daily.

Membership Rewards

Markethive offers a range of membership rewards that can help businesses save money and grow their bottom line. For example, the platform offers a free inbound marketing system that includes a range of tools such as a viral blogging system, an email marketing system, and a list building system. This can help businesses save money on marketing expenses, and focus on growing their business.

In addition, Markethive offers a range of other membership rewards, such as free advertising credits, free banner impressions, and free press release distribution. By taking advantage of these rewards, businesses can increase their visibility and reach a wider audience.

Markethive's Business Model

Markethive is a social marketing platform for entrepreneurs that offers a variety of free marketing tools. But how does Markethive make money? In this section, we will explore Markethive's business model.

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Incentive Loyalty Program

Markethive's business model is based on an Incentive Loyalty Program (ILP). This program rewards members for their participation in the platform. Members earn ILP shares, which are similar to stock options, by using Markethive's tools and services. The more a member uses Markethive, the more ILP shares they earn.

ILP Shares

ILP shares represent ownership in Markethive. As the value of Markethive increases, so does the value of ILP shares. Members can earn up to 100,000 ILP shares, which can be sold or traded on the open market.

Matching Bonuses

Markethive also offers a matching bonus program. This program rewards members for referring new members to the platform. Members earn a percentage of the ILP shares earned by the people they refer. The more people a member refers, the more matching bonuses they earn.

In conclusion, Markethive's business model is based on an Incentive Loyalty Program that rewards members for using the platform and referring new members. Members earn ILP shares, which represent ownership in Markethive, and can earn matching bonuses for referring new members. This business model allows Markethive to grow and succeed while rewarding its members for their participation.

Comparing Markethive with Other Platforms

Markethive vs LinkedIn

LinkedIn is a social media platform that is primarily used for professional networking. Markethive, on the other hand, is an ecosystem for entrepreneurs that provides a wide range of free marketing tools. While LinkedIn is a great platform for building professional connections, it does not offer the same level of marketing tools as Markethive.

Markethive provides its users with a suite of free marketing tools, including a blogging platform, social media broadcasting, and email marketing. These tools are specifically designed to help entrepreneurs and small business owners grow their businesses. In addition, Markethive provides its users with a community of like-minded individuals who are all working towards the same goal of growing their businesses.

Markethive vs Marketo

Marketo is a marketing automation platform that is designed for enterprise-level businesses. While Marketo is a powerful tool, it can be expensive and complex to use. Markethive, on the other hand, provides a suite of free marketing tools that are designed for small business owners and entrepreneurs.

Markethive's free marketing tools include a blogging platform, social media broadcasting, and email marketing. These tools are easy to use and are specifically designed to help small businesses grow. In addition, Markethive provides its users with a community of like-minded individuals who are all working towards the same goal of growing their businesses.

Markethive vs Amazon

Amazon is an online marketplace that is primarily used for buying and selling products. While Amazon does offer some marketing tools, such as advertising and product listings, it is not a comprehensive marketing platform like Markethive.

Markethive provides its users with a suite of free marketing tools that are designed to help entrepreneurs and small business owners grow their businesses. These tools include a blogging platform, social media broadcasting, and email marketing. In addition, Markethive provides its users with a community of like-minded individuals who are all working towards the same goal of growing their businesses.

Overall, Markethive provides a comprehensive set of free marketing tools that are specifically designed for small business owners and entrepreneurs. While other platforms may offer some marketing tools, they are not as comprehensive or as easy to use as Markethive's tools.

How to Join Markethive

Registration Process

To join Markethive, users need to visit the website and fill out the registration form. The form requires users to provide their name, email address, and create a username and password. Once the form is submitted, users will receive an email confirmation with a link to activate their account.

It is important to note that Markethive is a free platform, and users do not need to provide any payment information during the registration process. However, users can choose to upgrade their account to access additional features and benefits.

Understanding the User Interface

After registering, users will be directed to the Markethive dashboard. The user interface is designed to be user-friendly and easy to navigate. The dashboard provides users with access to all the free marketing tools available on the platform.

Users can create a profile, join groups, and connect with other entrepreneurs. The platform also includes a blogging system, where users can publish their own content and share it with the Markethive community.

In addition, Markethive provides users with access to a range of inbound marketing tools, including email marketing, social media broadcasting, and lead capture pages. These tools are designed to help users generate leads and build their online presence.

Overall, joining Markethive is a simple process that provides users with access to a range of free marketing tools and resources. The platform is designed to help entrepreneurs build their businesses and connect with like-minded individuals in a collaborative and supportive environment.

Conclusion

In conclusion, joining Markethive.com provides entrepreneurs with a wealth of free marketing tools that can help them grow their businesses. By becoming a member, entrepreneurs can access a variety of features that can help them generate leads, create content, and build their professional networks.

One of the key benefits of joining Markethive.com is the ability to earn coins and ILP shares. These can be used to fund business ventures, and can also be exchanged for other cryptocurrencies. Additionally, members can participate in airdrops and matching bonuses, which can help them earn even more coins.

Another benefit of joining Markethive.com is the ability to create a professional profile and connect with other entrepreneurs. Members can also create pages, post content, and share images and videos with their associates. This can help them build their brand and attract new customers.

Markethive.com also offers a range of marketing tools, including email marketing, broadcast messaging, and loyalty programs. These can help entrepreneurs reach new audiences and build customer loyalty. Additionally, the platform provides regular updates and news to keep members informed about the latest trends and developments in the industry.

Overall, Markethive.com is a valuable resource for entrepreneurs who want to grow their businesses and take their professional lives to the next level. Whether you're a seasoned entrepreneur or just starting out, joining Markethive.com can help you achieve your goals and build the business of your dreams.

Frequently Asked Questions

What are the free marketing tools available at Markethive.com?

Markethive.com offers a variety of free marketing tools to its members. These tools include a blogging platform, email autoresponders, social media broadcasting, SEO tools, and more. Members also have access to a community of like-minded entrepreneurs who can provide support and guidance.

How do the free marketing tools at Markethive.com benefit me?

The free marketing tools at Markethive.com can benefit you in many ways. For example, the blogging platform can help you establish yourself as an authority in your niche, while the email autoresponders can help you build a list of leads. The social media broadcasting tools can help you reach a wider audience and increase your brand awareness. The SEO tools can help you optimize your content for search engines and improve your website's rankings.

ecosystem for entrepreneurs

Can I access the free marketing tools at Markethive.com without logging in?

No, you need to be a member of Markethive.com to access the free marketing tools. However, membership is free and easy to sign up for.

What are the benefits of joining Markethive.com?

Joining Markethive.com can provide you with a range of benefits. These include access to free marketing tools, a supportive community of entrepreneurs, and the opportunity to earn cryptocurrency through the platform's reward program. Markethive.com also offers training and educational resources to help you grow your business.

How can I join Markethive.com?

To join Markethive.com, simply visit the website and sign up for a free account. Once you have created an account, you will have access to all of the platform's free marketing tools.

Are there any costs associated with using the free marketing tools at Markethive.com?

No, all of the marketing tools at Markethive.com are completely free to use. However, the platform does offer premium services for those who want to take their marketing efforts to the next level.

Tim Moseley

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Economic risks supporting gold in neutral territory around 1950

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Economic risks supporting gold in neutral territory around $1,950

Federal Reserve chair Jerome Powell maintained his hawkish bias this week, saying that interest rates will have to remain in restrictive territory for the foreseeable future; however, the gold market remains firmly in neutral territory as uncertainty supports the precious metal.

Some analysts have said that gold has been able to withstand the Fed's posturing as risks for the global economy grow.

"Consumers are spending the last of their savings and higher interest rates will start to take their toll," said Ed Moya, senior market analyst at OANDA. "We think it's only a matter of time before we see a weaker economy, and that will not be good news for the U.S. dollar."

Heading into the weekend, December gold prices last traded at $1,944.90 an ounce, roughly unchanged from last Friday. Although gold is caught in a tight trading range, it has held firm against major headwinds as the 10-year bond yield pushed to a fresh 16-year higher at 4.5%. At the same time, the U.S. dollar is ending the week at its highest level since November 2022.

Ole Hansen, head of commodity strategy at Saxo Bank, said in his weekly commentary that economic uncertainty continues to support gold as a safe-haven asset.

"We conclude that the breakdown in normal correlations is likely due to a market in search of a hedge against the FOMC failing to deliver a soft as opposed to a hard landing, or even stagflation," he said.

Although gold is holding its ground, analysts have said it will be difficult for prices to rally in the current environment.

Carsten Fritsch, precious metals analyst at Commerzbank, noted that the rise in U.S. bond yields has pushed real yields 50 basis points higher compared to last month. He added that this is taking a toll on investment demand as investors liquidate positions in gold-backed exchange-traded products.

"Last week alone, they sold holdings totaling 16 tons," he said. "Holdings in the world's largest and most liquid gold ETF have meanwhile dropped to their lowest level since January 2020."

However, Fritsch also sees long-term bullish potential for the precious metal when sentiment starts to shift.

  Gold investment potential remains healthy despite Fed's hawkish stance – State Street's Milling-Stanley

"Net longs have plummeted by almost 75% within the past four reporting weeks," he said. "Against this backdrop, gold will doubtless find it difficult to come out of the defensive in the near future. That said, sentiment is now already so bearish that it wouldn't take much to spark a price recovery."

As for what could spark a new rally in gold, Daniel Ghali, senior commodity strategist at TD Securities, said investors should pay close attention to the data.

He added that disappointing GDP data will create fears that the U.S. economy could be in for a hard landing.

Markets will also be sensitive to further inflation data as the Personal Consumption Expenditures Index will be released on Friday.

Last week to visit a national park?

Along with economic data, some analysts have said that gold could attract some safe-haven demand as the U.S. government faces a potential shutdown as Congress has been unable to approve funding for the fiscal year starting Oct. 1.

Although a shutdown wouldn't impact the nation's sovereign debt, it would affect how it could conduct business domestically. Government employees would be furloughed.

Markets could be impacted as the Securities and Exchange Commission and the Commodity Futures Trading Commission would have to furlough most of their employees.

National parks and museums would also be closed during the shutdown.

Kristina Hooper, chief investment officer at Invesco, said that while economic growth might not be impacted in a short-term shutdown, it does increase uncertainty.

She added that it also brings attention to the United States' growing debt problem. The U.S. deficit has already exceeded $1.5 trillion in the 12 months to October of this year.

"Any concerns about the government's ability to handle its growing deficit is a positive for gold," she said.

Next week's data:

Tuesday: U.S. Consumer Confidence, new home sales

Wednesday: Durable goods

Thursday: Final GDP reading, weekly jobless claims, pending home sales, Jerome Powell speaks at Washington DC town hall event

Friday: Personal Income and Spending

By

Neils Christensen

For Kitco News

Time to Buy Gold and Silver

Tim Moseley

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Gold is well-positioned for when the Fed breaks something

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Gold is well-positioned for when the Fed breaks something

The gold market may not be able to break out of its neutral trading channel around $1,950 just yet, but it is well positioned to benefit when sentiment turns, which could be sooner than some are expecting.

Yes, the U.S. has been able to avoid a recession and expectations of a soft landing continue to grow; however, many analysts remain doubtful that this optimistic goal can be achieved.

For many analysts, gold’s price action proves that investors are taking a more cautious stance to protect themselves against a downturn.

Gold’s position is even more impressive when you look at what it faced this week. Although the Federal Reserve did not raise interest rates on Wednesday, it maintained its hawkish bias. Federal Reserve Chair Jerome Powell said that although the interest rates are close to a peak, the central bank will keep interest rates at restrictive levels for the foreseeable future.

He added that the central bank will only know when rates are sufficiently restrictive when they see it.

The biggest surprise for many economists in this week’s decision is that the central bank sees only two potential rate cuts next year, down from the four rate cuts projected in June. This fits the growing “higher-for-longer” narrative that is building.

The Fed’s stance pushed 10-year bond yields to a fresh 15-year high at 4.5%. At the same time, the U.S. dollar index pushed above 105 points to its highest level since November 2022. Analysts at Commerzbank noted that real yields have reached 2%, an increase of 50 basis points from last month.

Despite all this, gold continues to hold around $1,950 an ounce, which has become an important psychological level.

In an interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that gold remains an important portfolio diversifier as the Fed continues to put pressure on the economy to cool down inflation.

  Economic risks supporting gold in neutral territory around $1,950

"At the start of the year, I said that equity markets have more to fear from the Fed than gold does, and I still believe that," he said. "Yes, the economy has been very resilient so far this year, but Powell said on Wednesday that they still need below-trend growth to get inflation down to the 2% target. Investors should believe Powell when he says that, because he means it."

And it’s not just the Federal Reserve that is entering the end game. The Swiss National Bank, the Bank of England, and the Bank of Japan also left interest rates unchanged this week.

Both the SNB and the BOE said that they are close to getting inflation under control as economic growth starts to weaken. Gold performed well against both currencies after their monetary policy decisions.

Although the gold market lacks momentum while investors sit on the sidelines, Milling-Stanley noted that there is still significant growth potential in the marketplace. This week State Street released an update to its gold investor survey published in June. The updated analysis looked at the role financial advisors can play in developing the gold market.

The survey showed that 20% of respondents said they held some gold. In further analysis, the report said that roughly one-third of investors didn't invest in gold because they didn't know enough about how to invest in the precious metal.

"The main message from the analysts is that the future of gold investment seems to be safe. That is very, very good news," said Milling-Stanley.

Finally, let’s not forget central bank demand continues to provide a solid base. Analysts at The World Gold Council reported that Russia’s central bank bought 3 tonnes of gold last month, and Russia’s gold reserves are now back to their 2022 levels.

That is it for this week, have a great weekend.

By

Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Gold investment potential remains healthy despite Fed’s hawkish stance – State Street’s Milling-Stanley

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Gold investment potential remains healthy despite Fed's hawkish stance – State Street's Milling-Stanley

Although the gold market is suffering from a lack of momentum, the precious metal's investment potential remains healthy, with plenty of potential to grow, according to one market strategist.

In an interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that the key to growing investment demand could be further education on the benefits of holding gold as part of a diversified portfolio.

He added that despite the lack of momentum, gold's ability to hold solid support above $1,900 is a strong signal that the market is poised for a new uptrend when momentum picks up.

Milling-Stanley's optimistic comments on gold come as State Street releases an update to its gold investor survey published in June. The updated analysis looked at the role financial advisors can play in developing the gold market.

The survey showed that 20% of respondents said they held some gold. In further analysis, the report said that roughly one-third of investors didn't invest in gold because they didn't know enough about how to invest in the precious metal.

The survey also showed how important an advisor's role is when it comes to bringing investors into the gold market. According to the analysis, 91% of respondents who own gold ETFs indicated they were informed by their financial advisor about the different ways to invest in gold.

"The main message from the analysts is that the future of gold investment seems to be safe. That is very, very good news," said Milling-Stanley. "There is a job for the industry at large to do in terms of educating investors and potential investors."

Milling-Stanley said he expects investment demand in gold to pick up as investors realize the value it creates for a portfolio. He noted that despite gold's lackluster performance so far this year, the market has built a solid base more than $200 above last year's lows.

Gold has struggled to attract investor attention as the Federal Reserve has aggressively raised interest rates to 5.25%. Wednesday, the Federal Reserve left interest rates unchanged; however, Central Bank Chair Jerome Powell signaled that interest rates could remain in restrictive territory longer than anticipated.

  Gold shining against Swiss franc and British pound as both central banks leave rates unchanged

Although interest rates are expected to remain higher or longer, Milling-Stanley said it is not a significant threat to the gold rally, because Wednesday's decision is providing little new momentum for the U.S. dollar.

Milling-Stanley added that gold can still outperform against the U.S. dollar if equity markets start to weaken as the Federal Reserve's stance takes its toll on economic activity.

"At the start of the year, I said that equity markets have more to fear from the Fed than gold and I still believe that," he said. "Yes, the economy has been very resilient so far this year, but Powell said on Wednesday that they still need below trend growth to get inflation down to the 2% target. Investors should believe Powell when he says that because he means it."

Milling-Stanley said that despite the Federal Reserve's aggressive actions, core inflation, which strips out volatile food and energy prices, has only fallen 1% from its peak.

"I don't expect we will see a recession, but investors should prepare themselves for a period of slower growth and gold can provide some diversification in this environment," he said.

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Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

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Gold prices holding around 1950 as Powell remains hawkish but markets see no more rate hikes

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Gold prices holding around $1,950 as Powell remains hawkish, but markets see no more rate hikes

The gold market has given back some of Wednesday's gains and prices are testing initial support around $1,950 an ounce after Federal Reserve Chair Jerome Powell said the Federal Reserve is prepared to hold interest rates at an elevated level for longer than expected to get inflation back down to its 2% level.

In a much-anticipated decision, the Federal Reserve on Wednesday announced that it would leave interest rates unchanged in a range between 5.25% and 5.50%. However, Powell maintained his hawkish bias, saying that a rate hike is still on the table at either the November or December monetary policy meetings.

However, he added that monetary policies will have to remain restrictive for the foreseeable future regardless of one last rate hike. The central bank remains committed to bringing inflation down to its 2% target, he said.

"We are fairly close to where we want to be," Powell said in the press conference following the central bank's decision. "We need to see convincing evidence that we are reaching our goals. The worst thing we can do is not restore price stability. It would be a miserable period."

The question for many investors is how long will the Federal Reserve maintain interest rates at these elevated levels. Powell said that it is too soon to tell if rates are restrictive enough and have been for long enough.

"You will only know when rates are sufficiently restrictive when you see it," he said. "The time will come when it will be appropriate to cut rates, but we don't know when that will be."

Although Powell maintains his hawkish bias, the gold market appears to be taking the latest monetary policy decision in stride. Gold has fallen from its session highs, last trading at $1,952 an ounce, roughly unchanged on the day.

According to some analysts, despite Powell's hawkish posturing, gold is holding its own as markets see only a 50/50 chance of one more rate hike this year.

"Gold is holding up nicely despite a hawkish skip as the risks that the economy will break are growing. Higher for longer has been mostly priced in for gold, but eventually bad news for the economy will lead to safe-haven flows for gold," said Edward Moya, senior market analyst at OANDA, in a note.

 Rising debt and debased currency will push gold prices to record highs – AuAG Funds' Eric Strand

Paul Ashworth, chief North American economist at Capital Economics, continues questioning the Federal Reserve's stance as it increased its economic outlook for this year and 2024.

"If the Fed is right about the economic outlook, then rates can unquestionably stay higher for longer. We just don't believe those forecasts. The real economy will be considerably weaker and, regardless, core inflation is going to fall back to target much more quickly. Under those circumstances, we still expect the Fed to leave rates unchanged over the remainder of this year and to cut rate cuts by closer to 200bp next year," he said in a note following the central bank announcement.

Thomas Simons, economist at Jefferies, said that he also doesn't expect the Fed to raise interest rates anymore this year and sees potential easing in early 2024.

"We have not changed our expectations for policy based on today's Fed communication. We still expect that 5.375% will prove to be the terminal rate in this cycle, and that the Fed will have to cut more aggressively in the first half of 2024 than what is priced into the market (nearly a 30% chance of another hike at the next meeting), or described in their dot plot," he said.

By

Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

The Artist that came out of the Winter