Family offices lean into gold amid economic uncertainty

Family offices lean into gold amid economic uncertainty

After years of being shunned by investors in search of alpha, gold has seen a resurgence in interest from both retail investors and institutional outfits since 2022, and a new survey of family offices shows that allocating towards gold is increasingly a long-term and strategic play.

2024 has been a banner year for the precious metal as it has been one of the best-performing assets, rising over 16% year to date and outpacing most major asset classes, according to the mid-year outlook of the World Gold Council (WGC).

If you look at gold over the long term, it’s grown at around 8% a year in US dollar terms, and if you look over the last 25 years, it has outperformed the MSCI World total return index,” said Louise Street, Senior Markets Analyst at the WGC.

According to Adrian Murdoch, editorial director at Campden FB, the results of the Campden Wealth Family Office Gold survey, conducted in partnership with the WGC, showed that “many family offices” currently had gold in their portfolios. “Interestingly, more than half of those who had gold in their portfolios regarded their allocation as strategic,” Murdoch said.

This observation was confirmed by Oliver Wilhelm, Global Head of Advisory and Individual Solutions at SOLIT, who told Campden FB that gold is a “hedge against inflation as its value tends to increase when the purchasing power of fiat currencies decreases.”

Wilhelm said some investors view gold as “a form of insurance for their investment portfolio” as it offers protection against “unforeseen events that could impact other classes and, perhaps most simply of all, it is a reliable asset for preserving wealth over the long term.”

Wealthy families may choose to invest in gold as a way to safeguard their assets and pass on wealth, he added. “Investing in gold can provide wealthy families with a way to diversify their portfolio, protect their wealth, and potentially generate returns in both stable and uncertain economic environments,” Wilhelm told Campden FB.

But not everyone is keen to hold gold, the survey found, with the most commonly cited reason for opting to hold other assets being that gold has no income or cash flow.

This criticism goes back to Warren Buffet, who said, gold has no return and therefore no chance of compounding his wealth,” explained Wilhelm. “Buffet is right in saying that gold has no yield, but he is wrong in concluding that his wealth would not have been appreciated by holding gold.”

He noted that the dollar price of a gold ounce has risen over the past 15 years, with an average value appreciation of around 9% per year.

Despite some family offices shunning the yellow metal, “the outlook for gold remains positive,” Murdoch wrote. He pointed to recent headlines, “like ‘Asia family offices pile into gold as hedge against market turmoil’ at AsianInvestor,” which he said “indicates how much family offices are joining the rush to gold to hedge their portfolios against market uncertainties both at home and abroad.”

He also noted that the WGC’s June survey of North American asset owners showed that “the top drivers to investing in gold among this audience are gold’s role as a proven diversifier (32%) and changes in US dollar strength (32%). Its diverse demand base, limited production and inflation-hedging characteristics are also positive drivers.”

Murdoch said the main question on investors’ minds “is whether gold’s momentum can continue or if it is running out of steam.”

For gold, we believe the catalyst could come from falling rates in developed markets, that attract Western investment flows, as well as continued support from global investors looking to hedge bubbling risks amid a complacent equity market and persistent geopolitical tensions,” the WGC said.

In short, while absolute allocation may not be large, gold remains a cornerstone piece to many family office portfolios as a diversification and wealth preservation tool, especially in view of the prevailing market conditions and fragmented geopolitical landscape,” Murdoch concluded.

Kitco Media

Jordan Finneseth

Time to Buy Gold and Silver

Tim Moseley

Boost Your Online Business Success with OLSP System

Boost Your Online Business Success with the OLSP System

Supercharge Your Online Business Triumph with the OLSP System!

In the fast-paced world of online marketing, finding the right tools and resources is crucial for boosting your online business success with OLSP System. OLSP System offers automated tools, excellent training, and a thriving community to lead you to success in the digital marketplace.

Boost Your Online Business Success with OLSP System

Boost Your Online Business Success with OLSP System

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https://rtateblogspot.com/2024/08/16/would-you-invest-a-one-time-50-today-to-earn-2000-a-month-within-6-years/

Tim Moseley

Gold solidly down on profit-taking ahead of Jackson Hole

Gold solidly down on profit-taking ahead of Jackson Hole

Gold and silver prices are lower, with gold posting sharp losses, on profit taking by the shorter-term futures traders and position-squaring just ahead of one of the most important gatherings of central bank officials this year. A rally in the U.S. dollar index and rising U.S. Treasury yields today are also unfriendly outside-market forces for the two precious metals. December gold was last down $28.80 at $2,518.90. September silver was down $0.365 at $29.17.

The marketplace awaits the annual Jackson Hole, Wyoming Federal Reserve symposium of world central bankers that begins later today. Past years have seen central bank officials make markets-moving pronouncements at the confab. Fed Chairman Powell is slated to speak at the symposium on Friday morning and may give some guidance on the size of an expected U.S. interest rate cut in September.

 

U.S. stock indexes are slightly lower at midday. Trader/investor attitudes have been more upbeat the past few sessions, as seen by the S&P 500 and Nasdaq stock indexes hitting four-week highs this week.

The key outside markets today see the U.S. dollar index solidly higher. Nymex crude oil prices are up and are trading around $73.45 a barrel. The benchmark 10-year U.S. Treasury note is presently fetching 3.875%.

Technically, December gold bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $2,600.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,450.00. First resistance is seen at $2,550.00 and then at the contract high of $2,570.40. First support is today’s low of $2,506.40 and then at $2,500.00. Wyckoff's Market Rating: 8.0.

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 $31.00. The next downside price objective for the bears is closing prices below solid support at $28.00. First resistance is seen at this week’s high of $30.035 and then at $30.50. Next support is seen at this week’s low of $28.78 and then at $28.50. Wyckoff's Market Rating: 6.0.

(Hey! My “Markets Front Burner” weekly email report is my best writing and analysis, I think, because I get to look ahead at the marketplace and do some market price forecasting. Plus, I’ll throw in an educational feature to move you up the ladder of trading/investing success. And it’s free! Sign up here; it’s real easy. https://www.kitco.com/services

Kitco Media

Jim Wyckoff

Time to Buy Gold and Silver

Tim Moseley

Gold prices catch a modest bid as Fed minutes signal a rate cut in September

Gold prices catch a modest bid as Fed minutes signal a rate cut in September

The gold market is holding near its session highs and is seeing limited bullish momentum as the minutes from the Federal Reserve’s July monetary policy meeting provided some guidance for investors.

While the Federal Reserve left interest rates unchanged last month, the minutes showed that there was some support for a rate cut.

All participants supported maintaining the target range for the federal funds rate at 5-1/4 to 5-1/2 percent, although several observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the target range 25 basis points at this meeting or that they could have supported such a decision,” the minutes said.

However, in the broader view, economists have said that the minutes continue to lay the ground work for the central bank to cut interest rates next month.

Participants viewed the incoming data as enhancing their confidence that inflation was moving toward the Committee's objective. The vast majority observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting,” the minutes said.

Although the minutes support expectations of a 25 basis point rate cut in September, economists note that they don’t add anything new to the broader outlook.

There are no big surprises here but this paints a picture of the Fed on track to cut in September,” said Adam Button, head of currency strategy at Forexlive.com.

Markets already see a 100% chance of a rate cut next month and see a roughly 30% chance of a 50-basis point move.

In initial reaction to the minutes, the gold market has managed to recover its losses but is trading in roughly neutral territory. December gold futures last traded at $2,552.30 an ounce, up 0.06% on the day.

Kitco Media

Neils Christensen

Time to Buy Gold and Silver

Tim Moseley

Gold hits all-time record high more upside likely

Gold hits all-time record high; more upside likely

Gold prices are modestly higher in midday U.S. trading Monday. December Comex gold futures today notched a record high of $2,549.90. Spot (cash) gold prices hit a new all-time high of $2,521.00 overnight. Bullish charts and safe-haven demand are driving the yellow metals prices higher and more upside is likely. Silver is sharply up and is likely to continue to be supported by gold’s price updraft. December gold was last up $7.50 at $2,545.40. September silver was up $0.531 at $29.37.

Broker SP Angel said today in a dispatch that gold prices started to climb Friday afternoon on reports China’s central bank has given new gold- import quotas to Chinese banks, “triggering speculation of a renewed wave of buying.” Chinese 10-year yields fell to record lows last week, with institutions rushing to buy over concerns of growth slowdown and deflation. “As a result, Chinese buyers are seeking alternative safe-haven protection, with gold an obvious candidate,” said the broker.

Also supporting gold are still lingering concerns about an Iranian military strike against Israel. However, it’s possible an Israeli-Hamas ceasefire agreement is close at hand. That could change Iran’s calculus on attacking Israel following recent Israeli assassinations of Hamas and Hezbollah officials.

U.S. stock indexes are higher at midday. The marketplace has significantly reduced its anxiousness regarding an impending U.S. economic recession after last week’s strong U.S. retail sales report for July. Reports said Goldman Sachs has cut its U.S. recession odds to just 20%.

Traders are awaiting the annual Jackson Hole Federal Reserve symposium that begins later this week. Past years have seen central bank officials make markets-moving pronouncements at the confab. Fed Chairman Powell is slated to speak at the symposium Thursday morning.

The key outside markets today see the U.S. dollar index solidly lower. Nymex crude oil prices are solidly lower and are trading around $74.75 a barrel. The benchmark 10-year U.S. Treasury note is presently fetching around 3.85%.

Technically, December gold bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $2,600.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,450.00. First resistance is seen at the overnight contract/record high of $2,549.90 and then at $2,575.00. First support is seen at today’s low of $2,523.70 and then at $2,500.00. Wyckoff's Market Rating: 8.5.

September silver futures bulls and bears are on a level overall near-term technical playing field. Bulls have momentum on their side now. Silver bulls' next upside price objective is closing prices above solid technical resistance at $30.00. The next downside price objective for the bears is closing prices below solid support at $27.50. First resistance is seen at $30.00 and then at $30.50. Next support is seen at the overnight low of $28.78 and then at $28.50. Wyckoff's Market Rating: 5.0

(Hey! My “Markets Front Burner” weekly email report is my best writing and analysis, I think, because I get to look ahead at the marketplace and do some market price forecasting. Plus, I’ll throw in an educational feature to move you up the ladder of trading/investing success. And it’s free! Sign up here; it’s real easy. https://www.kitco.com/services

Kitco Media

Jim Wyckoff

Time to Buy Gold and Silver

Tim Moseley

No Degree No Problem: Crafting a Successful Online Career Without Formal Education

No Degree, No Problem: Crafting a Successful Online Career Without Formal Education

Creating a Successful Online Career Without Formal Education

Creating a Successful Online Career Without Formal Education In today's digital age, the traditional college degree is no longer the only path to a successful career. Many online career opportunities don't require formal education, giving job seekers the flexibility to earn a living from anywhere. Whether it's social media management, web development, or graphic design, various fields welcome skilled individuals regardless of their educational background.

Creating a Successful Online Career Without Formal Education

Instead of a degree, building a strong portfolio and learning in-demand skills can be the gateway to many remote jobs. Online certifications and practical experience can help job seekers stand out. Remote customer service roles, content creation, and even coding positions are accessible for those who are willing to put in the effort.

With the right strategies, landing a well-paying job without a college degree is achievable. Networking, continuous learning, and leveraging online platforms are key tactics for long-term success. Embracing these nontraditional work environments allows individuals to carve out prosperous careers while enjoying the benefits of remote work.

Key Takeaways

  • Online jobs don't always require formal education.
  • Skill-building and portfolio development are crucial.
  • Effective strategies like networking boost job prospects.

Exploring Online Career Opportunities

Many high-paying remote jobs do not require a college degree and offer the flexibility to work from anywhere. Key fields include digital marketing, web development, and freelance graphic design.

The Rise of Remote Work

Remote work has grown significantly, especially since the pandemic. More companies realized that employees could be productive from home. Remote jobs allow for flexibility, saving time and commuting costs. This shift has opened the door for people without degrees to find good-paying jobs. Important skills include communication, self-motivation, and the ability to work independently.

Popular Online Jobs That Pay Well

Several remote jobs pay well and don't need a degree. Freelance graphic designers create visual content for businesses and can earn a good income through platforms like Upwork. Digital marketers help companies grow online presence, managing ads and social media. Web developers build and maintain websites, a skill in high demand. Copywriters create engaging content, often earning well through experience and a good portfolio.

Sectors Thriving Online

Certain sectors are thriving online, providing numerous job opportunities. Tech companies often hire remote web developers and IT support professionals. Marketing is another area with remote work opportunities, particularly for roles in social media management and SEO. The creative industry, including freelance graphic designers and writers, also benefits from the flexibility of remote work. These fields emphasize skills and experience over formal education.

Building Your Skills Without a Degree

There are many ways to develop the skills needed for a successful online career without attending college. This section explores different methods to gain knowledge and experience, including using online learning platforms, participating in on-the-job training, and creating a personal portfolio or blog.

Learning Platforms and Resources

Online learning platforms offer a variety of courses that can help individuals gain valuable skills. Websites like Coursera and Udemy provide courses in areas such as programming, graphic design, and digital marketing.

Many of these courses offer certificates upon completion, which can enhance a resume. Additionally, there are free resources like YouTube and Google Digital Garage that offer tutorials and interactive lessons.

Creating a Successful Online Career Without Formal Education

Key Platforms:

  • Coursera: Offers professional certificates and specializations.
  • Udemy: Known for a wide range of affordable courses.
  • Google Digital Garage: Free courses on digital marketing and data analytics.

These platforms make it easier to learn new skills at your own pace and apply them in real-world scenarios.

On-the-Job Training and Apprenticeships

Gaining practical experience through on-the-job training or apprenticeships can be crucial. Many tech companies offer apprenticeship programs where individuals can learn software development, system administration, and more.

Trades like electricians and plumbers also provide apprenticeships that do not require a formal degree. This hands-on experience allows individuals to earn while they learn, making it a viable option for many.

For those interested in digital fields, internships can provide similar benefits. Working as an intern in digital marketing, content creation, or web development helps build a solid foundation and increases employability.

Examples:

  • Apprenticeships: Electrician, plumber, carpenter.
  • Internships: Digital marketing, SEO, content creation.

Creating a Portfolio or Blog

Building a portfolio or blog helps showcase your skills to potential employers or clients. For individuals interested in fields like web development or graphic design, having an online portfolio with completed projects is essential.

Using platforms like WordPress or Medium to write about industry-related topics can demonstrate knowledge and passion. A well-maintained blog can also improve your search engine optimization (SEO) skills, adding another valuable item to your skill set.

Steps to Start:

  1. Select a platform (e.g., WordPress, Medium).
  2. Create and regularly update your content.
  3. Optimize your site for SEO.

Benefits:

  • Showcases Actual Work: Demonstrates skills and experience.
  • Builds Personal Brand: Establishes an online presence.
  • Improves SEO Skills: Enhances discoverability by employers.

Creating a portfolio or blog allows individuals to highlight their skills and achievements in an accessible, professional format.

Effective Strategies for Landing Remote Jobs

Securing a remote job requires specific strategies, including crafting a tailored resume, utilizing networking and job platforms, and honing interview skills. These efforts can help demonstrate your readiness for a remote work environment and attract prospective employers.

Crafting an Impressive Resume

Creating a resume for remote positions means highlighting relevant skills and experiences. Showcase your ability to work independently and highlight your communication skills. Experienced candidates should emphasize previous remote work.

Use keywords like “remote work,” “virtual collaboration,” and “self-motivation” to catch potential employers' attention. As suggested by Career Karma, demonstrating emotional intelligence and self-motivation is critical. Include any certifications or courses to bolster your qualifications, even if they aren't degrees.

Networking and Using Remote Job Platforms

Networking is crucial in finding remote work. Platforms like FlexJobs offer a great starting point for discovering opportunities. Update your LinkedIn profile to reflect relevant skills and experiences. Connect with industry professionals who can offer guidance or job leads.

Attend virtual meetups and webinars to expand your network. Join online communities and forums related to your field. Leveraging these platforms and communities strengthens your professional presence and opens doors to remote opportunities.

Developing Strong Interview Skills

Strong interview skills are pivotal in landing remote jobs. Prepare by practicing common interview questions and focusing on your experiences that illustrate your fit for a remote role. Highlight your ability to manage time effectively and your proficiency with remote communication tools like Zoom or Slack.

During the interview, communicate clearly and confidently. Answer questions by providing specific examples of how you’ve successfully performed tasks in a remote environment. The U.S. Bureau of Labor Statistics emphasizes the importance of showcasing your ability to work independently while maintaining high productivity.

Succeeding Long-Term in a Nontraditional Work Environment

To thrive long-term in a nontraditional work environment, focus on managing your time well, building professional relationships online, and continually improving your skills. Each of these areas is crucial for maintaining productivity and securing your career.

Time Management and Productivity

Effective time management is vital for maintaining productivity in remote jobs. Independent workers often struggle to separate work from personal life, making specific schedules essential. Utilize tools like digital calendars and timers to track tasks and deadlines.

Break tasks into smaller, manageable steps. This can help maintain focus and prevent burnout. Apps like Trello or Asana are excellent for organizing projects into stages and tracking progress.

It's important to create a dedicated workspace. This helps minimize distractions and signals to others that you are in “work mode.” Regular breaks are also crucial. They can boost productivity and prevent fatigue.

Cultivating Professional Relationships Remotely

Building strong professional relationships remotely requires deliberate effort. Regular virtual meetings and check-ins with colleagues and clients are essential. They help maintain open communication and foster a sense of connection.

Tools like Zoom or Slack are great for staying in touch. Being punctual and prepared for meetings shows reliability and respect.

Engaging in remote team-building activities can also be beneficial. These activities can strengthen bonds and improve team morale. Networking online through platforms like LinkedIn helps in meeting new people and exploring opportunities.

Continual Learning and Skill Advancement

In the ever-evolving online job market, ongoing learning is crucial. Enrolling in online courses can keep skills up to date and relevant. Platforms like Coursera or Udemy offer courses on a wide range of subjects.

For tech-related roles, Google Career Certificates provide valuable training. They can prepare individuals for positions like tech support specialist. Participation in bootcamps or workshops, such as those offered by Girls in Tech, can also be advantageous.

Setting aside regular time for learning is essential. This commitment ensures steady progress and keeps skills sharp. It's also helpful to stay informed about industry trends through webinars and professional groups.

Frequently Asked Questions

Creating a Successful Online Career Without Formal Education

There are many ways to earn money online without a college degree. This section explores strategies and career options that can help you support yourself and your family without needing a traditional education or job.

What are some strategies for making money online without a college degree?

Many opt for freelancing in areas like writing, graphic design, or web development. Selling products through platforms like Etsy or eBay is another option. Additionally, remote customer service and virtual assistant roles are in demand.

How can I support myself financially without having a traditional 9 to 5 job?

Consider gig economy positions such as rideshare driving or food delivery. Start a small online business, offering services or goods. Some also turn hobbies into income sources, like blogging or YouTube channels.

What are legitimate ways to earn a living online without formal education?

Platforms like Upwork and Fiverr allow people to offer skills and services. Online tutoring and teaching, especially language teaching, are popular. Remote tech support roles are another reliable way to earn online.

Can you achieve financial success without attending college, and if so, how?

Yes, it's possible through hard work and dedication. Many achieve success by building online businesses or freelancing. Investing time in learning valuable skills through online courses can also lead to higher-paying opportunities.

What non-degree career options are available to support a family?

Careers in fields like sales, digital marketing, or IT support often do not require a degree. Skilled trades like plumbing or carpentry are also viable options. Some find long-term success in real estate or owning small businesses. Creating a Successful Online Career Without Formal Education

How can someone without a degree and no job start making an income?

Start by identifying skills or interests that can be monetized. Look for entry-level freelance jobs on platforms like Upwork or Fiverr. Consider short-term gigs to build a portfolio and gain experience.

https://rtateblogspot.com/2024/08/16/would-you-invest-a-one-time-50-today-to-earn-2000-a-month-within-6-years/

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Tim Moseley

Gold bugs crow as the yellow metal breaks through 2500 per ounce to set fresh all-time highs

Gold bugs crow as the yellow metal breaks through $2,500 per ounce to set fresh all-time highs

Gold prices hit new all-time highs in both spot and futures markets on Friday after weaker-than-expected U.S. housing data stoked worries that downside risks to growth are rapidly overshadowing the upside risks of inflation that have dominated the attention of investors and central banks for the last two years.

Spot gold first breached the $2,500 per ounce level shortly before 10 am EDT, just half an hour into the North American trading session and less than 90 minutes after the housing data was released.

After pulling back as low as $2,479 per ounce, the yellow metal began its steady march higher once again, and broke definitively above $2,500 just after 2:30 pm EDT.

At the time of writing, spot gold last traded at $2,509.42 for a gain of 2.15% on the session.

Gold has been on an unstoppable run since October last year, surging from near the $1,800 level to score back-to-back all-time record highs – not once, not twice, but on multiple occasions this year,” wrote Phil Carr, Head of Trading at The Gold & Silver Club on FXEmpire. “The precious metal is up over 26% since mid-February. But here’s where it gets even better – Gold prices have now chalked up a whopping gain of more than 38% since October.”

Carr also noted the historically strong correlation between U.S. government debt and gold prices.

Conclusive evidence shows during the period U.S national debt has ballooned from 5 trillion to 35 trillion dollars – Gold prices have risen by 8x since 2000,” he said. “But here’s where things really start to get interesting. If history repeats itself, Gold prices could reach $5,000 an ounce when U.S national debt hits the 70 trillion dollar mark.”

Others saw the yellow metal’s strength as an indication of political as well as economic concerns.

Gold hits 2500 for the first time in history ahead of Kamala's central planning unveil that will usher in even more runaway inflation,” Zerohedge wrote in an X post.

CryptoRover noted the correlation between the prices of gold and Bitcion.

Longtime gold bull and crypto critic Peter Schiff wasted no time weighing in on the precious metal’s performance, and what it says about U.S. monetary policy.

Powell claims he's data-dependent,” Schiff wrote in an X post. “Alan Greenspan, who once held his job, said the most important data point on #inflation is the gold price. He said if gold is breaking down, monetary policy is too tight. If it's breaking out, it's too loose. #Gold just broke out above $2,500!”

And veteran mining magnate Frank Giustra also chimed in on Friday as gold blew through resistance at $2,500.

For the most part, US mainstream Media chooses to ignore gold hoping it will just go away,” he said. “Meanwhile the rest of the world is loading up at record numbers. A rising gold price is a threat to the narrative that all is ok with the fiat currency system.”

Kitco Media

Ernest Hoffman

Time to Buy Gold and Silver

Tim Moseley

The New Mini Blog Newsfeed Is Here At Markethive A significant achievement unlocked with many more to come

The New Mini Blog Newsfeed Is Here At Markethive! A significant achievement unlocked, with many more to come

The Markethive Social Market Broadcasting Network is rapidly gaining prominence as a blockchain-based ecosystem that empowers entrepreneurs with a unique blend of uncensored expression and impartial dialogue, fostering a spirit of collaboration. This sets it apart from the often divisive and restrictive social media landscape.

At Markethive, your experience is our top priority. That's why we're recognized for our evolutionary and innovative ethos. We consistently broaden our decentralized, all-encompassing platform, creating a distinctive news feed interface that fully captures the user's experience.

We operate as an Inbound Marketing platform similar to Marketo and Paragon. The platform is comparable to popular platforms such as YouTube, Instagram, LinkedIn, and Twitter. However, we aim to surpass these traditional Web 2.0 media platforms with the upcoming release of Markethive 2.0, which includes various new features and an improved layout.

In contrast to traditional social media platforms, which rely on a single, primary news feed algorithmically set by the central authorities, Markethive's innovative approach will incorporate four distinct news feeds tailored to support the diverse range of features and functions within the Markethive ecosystem.

Markethive's feeds, including the Conglomerate or general newsfeed, video content, blogging, and curated content, are all about putting you in control. With advanced algorithms, you can tailor these feeds to your preferences, giving you the power to shape your Markethive experience. Markethive's reach is vast, as it consolidates the various features of other platforms into a single, unified system. This article illustrates the different newsfeeds in development and much more.

Mini Blog Newsfeed Version One Now Integrated 

Markethive is thrilled to introduce its first newsfeed, the Conglomerate Newsfeed, also known as the Mini Blog Newsfeed Version 1. This key feature, available as part of Markethive's subscription upgrades, is a significant step towards our mission. The revenue generated from these upgrades contributes to the Entrepreneur One program, with E1 members receiving 20% of the net profit from subscription and service-based revenue.

This newsfeed functions similarly to a blogging platform—a mini blog system presenting a visually appealing and organized layout incorporating thumbnails and videos. By formatting each post, a uniform display of all published content is created, showcasing a concise preview of each publication.

The proliferation of online social media and marketing has led to cluttered and chaotic newsfeeds and threads. The revamped newsfeed addresses this issue by streamlining the layout, preventing large graphics from dominating the feed, and creating a more manageable and comfortable user experience.

Every post on Markethive comes with a unique permalink that allows you to share the content on other websites and social media channels. This feature is exclusive to Markethive and sets it apart from other platforms, making you part of a unique and special community. When a post is accessed within Markethive, it expands into a dedicated window, showcasing the full content, accompanied by a comments section, social sharing buttons, and a tipping option.


Courtesy of Kevin Jacobson, E1 Associate. 

For our free members, Markethive offers a standard text-based newsfeed that allows one image. However, with the Newsfeed Broadcast Upgrade, your posts will transform into mini-blogs, offering unlimited capabilities. The HTML editor allows various fonts, colors, bold, italics, etc., to construct your publication in the newsfeed and allows for multiple images and video content. This upgrade, available for a minimal price of around $5 per month, will make your messages, advertisements, and general posts look highly sophisticated and appealing.  

For those unfamiliar with the ‘WASIWIG’ editor, note that when you paste content into the editing field, you'll need to use the Ctrl V shortcut to make it visible. This also applies to images—copy the image from your files and Ctrl V into the desired location within the editor.

Thomas Prendergast, architect, founder, and CEO of Markethive, says,

“I am impressed with Elon Musk’s innovation and progress in upgrading the X platform to allow for additional tools, such as unlimited content on the newsfeed. This shows that that’s what people want. What Markethive plans to do with the newsfeeds leapfrogs what X already does with its upgrade. What we’re creating here is the ability to publish an instant blog with the power of the newsfeed and broadcasting. Nobody has done anything like this before.“

This is the 1st version of the newsfeed and will inevitably have a few errors. To address this, we are launching a bug bounty program. We invite anyone who encounters a problem while using the newsfeed or has suggestions for its enhancement to report their feedback to our support team. If the issue is valid or the idea is implemented, you will receive rewards in the form of Hivecoin.

The Way Forward

Just like the Earth functions as a self-contained ecosystem, the world is witnessing a technological paradigm shift where entire ecosystems emerge. This technological evolution is crucial for the long-term viability of any platform. The advent of blockchain and cryptocurrency has empowered pioneering companies to build holistic systems from scratch, addressing the myriad of problems that have long plagued social media platforms.

Leading the way is Markethive, a comprehensive platform that caters to the diverse needs of online users. It encompasses social networking, professional development, inbound marketing, e-commerce, artistic expression, and entrepreneurial pursuits, ultimately enriching the lives of its members. It aims to empower individuals financially, professionally, and personally, catering to people from various backgrounds and interests.

Markethive, the pioneering social market broadcasting network, is continuously innovating and offering innovative solutions and a sanctuary from the chaos of the internet. Leveraging blockchain technology, Markethive is transforming into a fully decentralized all-media platform, positioning it ahead of earlier technologies and systems while embodying the humanitarian principles urgently needed in today's digital landscape.

Don't miss the Markethive meeting this Sunday at 8 a.m., as much more will be revealed. We will share further information about the mini blog newsfeed and updates as we work on resolving the inevitable bugs in this new system. Attending the meetings can be beneficial, as Tom is known for generously distributing Hivecoin to those present.

 


 

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

Spot gold holds modest gains above 2450 after US data relieves recession fears FXStreet’s Bednarik

Spot gold holds modest gains above $2,450 after U.S. data relieves recession fears – FXStreet’s Bednarik

Thursday morning’s raft of largely positive U.S. data has helped to ease recession worries and boosted stock markets near fresh weekly highs, with gold holding steady in its recent channel and providing buy opportunities on the dips, according to Valeria Bednarik, chief analyst at FXStreet.

Bednarik noted that spot gold was holding modest gains in afternoon trading following the morning’s volatility.

XAU/USD fell to $2,432.04 ahead of Wall Street’s opening as a batch of United States (US) data pushed speculative interest away from the safe-haven metal,” she said. “Financial markets welcomed news that US Retail Sales rose by 1% in July, far better than the 0.3% advance anticipated. Furthermore, Initial Jobless Claims rose by less than anticipated in the week ending August 9, up 227K vs the 235K forecast.”

The news drove the U.S. dollar higher against all major currencies, Bednarik noted. “US indexes also advanced, as the numbers spooked fears of a recession while maintaining unchanged the odds for an upcoming Federal Reserve (Fed) interest rate cut,” she said. “Stock markets remained optimistic after the opening, extending gains to fresh weekly highs, but the USD retreated. The second batch of US data was less encouraging, as Capacity Utilization hit 77.8% in July while Industrial Production in the same month was down 0.6%, both worse than expected and below June figures.”

Turning to the short-term technical outlook for the yellow metal, Bednarik pointed out that the daily chart for spot gold is trading comfortably within its recent range, but even though it remains in the green, “it has posted a lower high and a lower low, usually seen as a bearish sign.”

Technical indicators have turned marginally lower but remain within positive levels, limiting the odds of a steeper decline,” she said. “Finally, the pair keeps developing above all its moving averages, with the 20 Simple Moving Average (SMA) flat above bullish 100 and 200 SMAs. Overall, the case of a steeper leg lower seems unlikely.”

According to the 4-hour chart, Bednarik said the near-term outlook for XAU/USD is neutral to bullish.

Technical indicators turned higher, but remain at around their midlines,” she said. “Meanwhile, a mildly bullish 20 SMA provides dynamic resistance a few $ above the current level, while the longer moving averages extended their modest upward slopes below the current level. More relevantly, buyers defend the downside at around the 23.6% Fibonacci retracement of the June/July rally at $2,438.80.”

She added that support levels for spot gold are found at $2,438.80, $2,4260.90, and $2,438.80, while near-term resistance is pegged at $2,471.10, $2,483.70, and $2,495.00.

At the time of writing, spot gold last traded at $2,460.70 per ounce for a gain of 0.52% on the session.

Kitco Media

Ernest Hoffman

Time to Buy Gold and Silver

Tim Moseley

US dollar reserves drop 14 since 2002 as BRICS and gold challenge hegemony

US dollar reserves drop 14% since 2002 as BRICS and gold challenge hegemony

The decline of the U.S. dollar (USD) as the world’s reserve currency has been a popular topic of conversation for years – especially in the wake of the global financial crisis (GFC) of 2007-2008 – and while talks of its impending demise may be overblown, data provided by the Atlantic Council shows that the world is indeed utilizing the USD significantly less than at the turn of the century.

According to the Atlantic Council’s Dollar Dominance Monitor, the share of the USD in global reserves stood at 58% in 2024, a 14% decline from 2002 when it accounted for 72% of global reserves.

The US dollar has served as the world’s leading reserve currency since World War II,” the report said. “Today, the dollar represents 58 percent of the value of foreign reserve holdings worldwide. The euro, the second-most-used currency, comprises only 20 percent of foreign reserve holdings.”

But in recent years, and especially since Russia’s invasion of Ukraine and the Group of Seven (G7)’s subsequent escalation in the use of financial sanctions, some countries have been signaling their intention to diversify away from dollars,” researchers at the Atlantic Council said.

The pace of de-dollarization has picked up in recent years, and the researchers pointed to one development that has hastened this trend: the growth of BRICS.

Over the past twenty-four months, the members of BRICS (a grouping of Brazil, Russia, India, China, and South Africa that recently added Egypt, Ethiopia, Iran, and the United Arab Emirates; Saudi Arabia is considering joining) have been actively promoting the use of national currencies in trade and transactions,” the report said. “During this same time, China has been expanding its alternative payment system to its trading partners and seeking to increase international usage of the renminbi.”

The project identifies the BRICS as a potential challenge to the dollar’s status due to the individual members’ signal of intent to trade more in national currencies and the BRICS’ growing share of global GDP,” they added. “Among the BRICS currencies, the renminbi has the highest potential of competing with the dollar as a trade and reserve currency.”

Two key indicators identified by the report that highlight the growing strength of the alternative financial infrastructure China is building are “China’s swap lines with the BRICS countries and membership in China’s Cross-Border Interbank Payment System (CIPS),” they wrote.

The researchers found that between June 2023 and May 2024, “CIPS added sixty-two direct participants and now comprises 142 direct and 1,394 indirect participants.”

SWIFT is still by far the dominant player, with more than 11,000 connected banks,” they noted. “Since the direct CIPS participants could clear transactions without relying on SWIFT or the dollar, traditional indicators of renminbi use may be undercounting the actual value.”

While China has been making strides in adding partners to CIPS, the researchers said “The dollar’s role as the primary global reserve currency is secure in the near and medium term.”

The dollar continues to dominate foreign reserve holdings, trade invoicing, and currency transactions globally,” they said. “All potential rivals, including the euro, have a limited ability to challenge the dollar in the immediate future.”

As for the development of an intra-BRICS payment system, the Atlantic Council found that negotiations around such a system “are in the early stages, but the members have reached bilateral and plurilateral agreements with one another, with a focus on cross-border wholesale central bank digital currency (CBDC) and currency swap agreements.”

These agreements are likely difficult to scale due to regulatory and liquidity issues but may form the basis for a currency exchange platform over time,” the researchers said.

While China poses the single greatest threat to the standing of the USD, its recent struggles, including a collapsing real estate market, have seen the renminbi lose some of the ground it had gained on the USD in foreign currency reserves.

In the last quarter of 2023, the share of renminbi in global foreign currency reserves dropped to 2.3% from the peak of 2.8% in 2022, despite Beijing’s active support of renminbi liquidity through swap lines,” the report said. “Reserve managers might be perceiving the renminbi as a geopolitically risky currency because of concerns about China’s economy, Beijing’s position on the Russia-Ukraine war, and increased tensions with the US and G7.”

Based on the six “essential qualities of a reserve currency” identified by the Atlantic Council, the euro is the most suited to become a reserve currency behind the USD, followed by the renminbi.

The dollar and euro collectively form nearly 80 percent of global foreign exchange reserves,” the report said. “While the dollar-share is on a very modest long-term declining trend, its lost share has been distributed among several currencies.”

The dollar also accounts for “nine out of every ten currency transactions” on the international market, which “reflects the dollar's ‘vehicle’ or intermediary role in forex markets which minimizes transaction costs for traders and reinforces the dollar's centrality in financial networks,” the authors noted.

Since the currency of settlement and currency of invoicing are often closely tied to each other, the dollar’s use as a medium of exchange is linked to its status as the global unit of account,” said Martin Mühleisen, Senior Fellow at the Atlantic Council.

The dollar also plays a substantial role in the international debt markets. “Debt securities provide a channel for the private sector to store value,” the report said. “The dollar, euro, and pound together form more than 90 percent of outstanding international debt securities. Following the 2008 Global Financial Crisis, the dollar recovered the share that it lost in the 2000s.”

The dollar and euro are also the workhorses powering the international banking system.

Approximately 45 percent of banking claims across national borders or denominated in a foreign currency are held in dollars,” the authors said. “The dollar remains the most important currency in the international banking system, partly as a result of its role as a vehicle currency.”

While other currencies have struggled to gain ground against the USD, the Atlantic Council noted that there is one commodity that has gained favor with BRICS members: gold.

Emerging markets have driven the surge in recent gold purchases,” the report said. “Since 2018, all members of BRICS have increased their gold holdings at a faster rate than the rest of the world, despite its historically high prices.”

Many advanced economies accumulated large gold reserves over centuries and retained them over the 20th century to maintain the gold standard following the end of the Second World War,” the authors said. “Recent surveys suggest that advanced economies are now planning to increase their gold holdings to hedge against the risks of economic shocks. This will further raise global demand for gold over the next few years.”

Emerging markets tend to keep the majority of their reserves in foreign exchange, but have steadily increased the share of gold,” they added.

Getting into the finer details, the authors noted that gold’s share in international reserve portfolios “began rising in 2019 and accelerated following the onset of the pandemic, rising from about 10% to nearly 16% today. Central banks now collectively hold more than 35,000 tonnes of gold, nearly 20% of all gold ever mined.”

Reasons for emerging market central banks purchasing gold include the fact that the precious metal “provides options in the face of geopolitical risk; provides a hedge against inflation; is considered a safe haven asset, particularly in moments of broader economic downturns as it has held its value over centuries and does not bear any credit risk; and it provides a hedge against dollar value swings,” the authors said.

Jewelry fabrication was cited as the primary driver in demand for gold.

The metal is also used as an investment tool by non-institutional agents in the form of bars, coins, and ETFs,” the report said. “Due to its electrical conductivity, malleability, and corrosion resistance, gold is also used in electronics, industrial equipment, and dentistry.”

Central bank demand for gold has traditionally been dwarfed by other demand drivers of the metal, but central banks have boosted their demand since 2022,” they noted. “This upswing coincides not only with Russia's invasion of Ukraine, but also with a spike in inflation around the world, dollar strength, and heightened geopolitical uncertainty.”

Nearly a third of all central banks plan on increasing their gold reserves in 2024,” the authors concluded. “While the euro was once considered a competitor to the dollar’s international role, it continues to lag far behind and is weakening as an attractive reserve currency. The 2022 sanctions on Russia signaled to reserve managers that the euro exposed them to similar geopolitical risks as the dollar. Those looking to de-risk away from the dollar have turned to gold.”

A June report from the IMF corroborated the report from the Atlantic Council, finding that there is an “ongoing gradual decline in the dollar’s share of allocated foreign reserves of central banks and governments.

Strikingly, the reduced role of the US dollar over the last two decades has not been matched by increases in the shares of the other ‘big four’ currencies – the euro, yen, and pound,” the report added. “Rather, it has been accompanied by a rise in the share of what we have called nontraditional reserve currencies, including the Australian dollar, Canadian dollar, Chinese renminbi, South Korean won, Singaporean dollar, and the Nordic currencies.”

These nontraditional reserve currencies are attractive to reserve managers because they provide diversification and relatively attractive yields, and because they have become increasingly easy to buy, sell and hold with the development of new digital financial technologies (such as automatic market-making and automated liquidity management systems),” the IMF explained.

The IMF report also cited an increasing appetite for gold by central banks following the financial sanctions the U.S. imposed on Russia after it invaded Ukraine.

[F]inancial sanctions, when imposed in the past, induced central banks to shift their reserve portfolios modestly away from currencies, which are at risk of being frozen and redeployed, in favor of gold, which can be warehoused in the country and thus is free of sanctions risk,” the report said. “That work also showed that the demand for gold by central banks responded positively to global economic policy uncertainty and global geopolitical risk.”

These factors may lie behind the further accumulation of gold by a number of emerging market central banks,” they added. “Before making too much of this trend, however, it is important to recall that gold as a share of reserves still remains historically low.

In sum, the international monetary and reserve system continues to evolve,” the IMF concluded. “The patterns we highlighted earlier – very gradual movement away from dollar dominance, and a rising role for the nontraditional currencies of small, open, well-managed economies, enabled by new digital trading technologies – remain intact.”

Kitco Media

Jordan Finneseth

Time to Buy Gold and Silver

Tim Moseley

The Artist that came out of the Winter