The Federal Reserve is likely to announce in August or September a strategy for reducing its massive bond-buying program, but won’t start cutting monthly purchases until early next year. This means FED will start Tapering the QE of $120 Billion gradually and reduce to $110 billion, then $100 billion, then $90 billion and so on
Gold prices nudged up on Friday after data showed U.S. consumer prices increased more than expected last month but eased fears over the Federal Reserve tapering its monetary support. Data showed U.S. consumer prices increased further in May as continued economic recovery from the pandemic boosted domestic demand. Weekly jobless claims also dropped to their lowest level in nearly 15 months
Central banks have been buying gold during the first four months of 2021. Over that period, we estimate that the official sector has added 150-200 tonnes of gold. A significant portion of this buying has come from the central banks of Hungary and Thailand, who added 63 tonnes in March and 43.5 tonnes in April, respectively.
Gold prices edged above $1900 per ounce level on Friday, supported by a pullback in the dollar and lower bond yields, after data showing a rise in U.S. inflation was viewed inadequate to alter the Federal Reserve’s easy monetary policy. The rise in U.S. inflation failed to spark a tapering sell-off. That saw bond yields edge lower helping gold to bounce back
Gold steadied as investors awaited Thursday’s U.S. inflation report that may provide clues on the Federal Reserve’s monetary policy path. The 10-year Treasury yield extended declines after falling below 1.5% for the first time in a month on Wednesday, helped by a strong auction, while the rate on the U.S. long bond dropped to a level unseen since early March. This suggests that the Fed’s assurances that elevated inflation was probably temporary is gaining acceptance from investors.
Gold prices may continue to rise after the precious metal posted a bullish moving average crossover on the daily chart early this week. In the case of the gold price chart, the 50-day simple moving average has overtaken the 200-day simple moving average around the $1828 price point and may equip gold with the bullish sentiment required to push higher
According to the We Recycle Solar website, silver can use up to 6% of the total cost of building each unit of a solar panel and the average panel of approximately metres can use up to 20 grams of silver. As of 2018, the solar panel manufacturing industry used about 8% of the world’s annual physical silver supply.
Gold gave up early gains as some investors booked profits ahead of a key U.S. inflation report due later this week that could shed light on when the Federal Reserve may talk about reducing its bond purchases.
Bullion steadied on Tuesday after rising 1.5% over the past two days as traders assessed a smaller-than-expected gain in U.S. payrolls as well as comments from Treasury Secretary Janet Yellen saying that higher interest rates would be a “plus” for America and the Fed, which weighed on the dollar
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