Central banks bought 16 tonnes of gold in March; Sovereign Wealth Funds are getting in on the action – WGC
- Central bank demand continues to transform the gold market as official sector purchases increased by a net 16 tonnes in March, according to the latest data from the World Gold Council. - Today's job numbers have significantly missed expectations, indicating a potential shift in the economic landscape that might urge the Federal Reserve to reconsider its interest rate strategy and cut earlier than anticipated.
Kitco Crypto spoke with James Koutoulas, an investor attorney advocate and CEO of Typhon Capital Management, for insights into the state of crypto regulation in the U.S.Another week, another 9-figure mining deal and gold churns at $2,300 level The gold market is spinning its wheels, caught in a stalemate, which could create some profit-taking among investors and weigh on prices in the near term.On Saturday McCrae recorded Kitco Roundtable.Bitcoin spiked above $61k in early trading on Friday after the latest jobs data showed that the U.S. labor market saw a notable slowdown in April, boosting rate cut expectations.
- Central bank buyers could be less sensitive to higher gold prices, said Aakash Doshi, NAM Head of Commodities Research at Citi. - Gold and silver prices are solidly higher in early U.S. trading Monday amid improved trader/investor risk sentiment in the general marketplace. - The U.S. labor market has defied all expectations in 2024, but sentiment has started to shift as five months of consecutive outperformance come to an end.
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