After recent lows on July 21, gold and silver prices recovered markedly after the last meeting of the US Federal Reserve. Important key data on inflation in the US in the form of consumer and producer prices should be released this week.
The World Gold Council (WGC) published its latest report on the state of the world gold market for the second quarter of 2022 last week, the results of which turned out to be relatively mixed.
Volatility in the markets cannot hide the fact that the pace of economic development is slowing down. In such conditions, gold serves as a safe haven for capital. So, the Fed decided to raise its key interest rate by 0.75% at the very time when all econom
Federal Reserve Chairman Jerome Powell said last week that the US economy is not in a recession. Biden administration officials seem to agree, including National Economic Council Director Brian Dees and Treasury Secretary Janet Yellen.
The global price of gold, denominated in US dollars, has already lost more than 5% of its value since the beginning of 2022 to date, while the dollar index, which compares the dollar to six other major currencies, has gained 11% over the same time period.
A few days ago, Wall Street Silver published an interview with Andy Schektman, CEO of Miles Franklin. Among other things, during the interview, there was one rumor that a woman from Texas bought $50 million worth of silver and gold last week.
The price of gold on the spot market was quoted yesterday at the level of 1716 dollars per ounce, which corresponds to 1673 euros. An ounce of silver cost $18.85 or €18.37. Thus, the price of gold in European currency was 2.8% lower than the previous week