Phil Carr
The Gold & Silver Club
Gold rose 2% after the Fed's new monetary policy strategy which suggested that the U.S. central bank's key overnight interest rate, already near zero, would stay there for potentially years to come.
Gold has gained nearly 30% so far this year, notching an all-time high of $2,075 earlier this month, as investors seek to buy the metal as a hedge against possible inflation and currency debasement due to unprecedented money printing by central banks.
As we head into the final quarter of the year – we’re heading into an event-driven period filled with back-to-back trading opportunities such as Non-farm Payroll, The ECB Meeting, The September & October FOMC Meetings and the U.S Presidential Election, which is going to be the headline event that will drive market sentiment over the next 90 days.
Elsewhere, silver was heading for a fifth straight monthly gain, up more than 14% in August.
Where are prices heading next? Watch The Gold & Silver Club Commodity Report now with Phil Carr for the latest price forecasts and predictions:
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
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EUR/USD weakens below 1.0900 on trade tensions
The EUR/USD pair loses ground to around 1.0880 during the Asian trading hours on Thursday. The escalating trade tension between the United States and the European Union exerts some selling pressure on the Euro against the Greenback.
Gold price retains positive bias for the third straight day; remains close to all-time peak
Gold price attracts buyers for the third successive day and climbs to the $2,947 region during the Asian session on Thursday, back closer to the all-time peak touched on February 24.
GBP/USD maintains position above 1.2950 near four-month highs
GBP/USD attempts to extend its gains for the third successive day, trading around 1.2960 during the Asian session on Thursday. The GBP/USD pair rises as the US Dollar faces headwinds amid ongoing tariff uncertainty from Trump and growing concerns over a potential US recession.
Ethereum: Staking could be catalyst to drive ETH's price 'more than Pectra upgrade': K33 Research
Ethereum traded around $1,860 in the Asian session on Thursday as its price remained largely subdued by bearish sentiment weighing on the general crypto market.
Brexit revisited: Why closer UK-EU ties won’t lessen Britain’s squeezed public finances
The UK government desperately needs higher economic growth as it grapples with spending cuts and potential tax rises later this year. A reset of UK-EU economic ties would help, and sweeping changes are becoming more likely.
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