Markets

Gold price heads for the worst week in 11 months, but is the market oversold?

(Kitco News) The gold market is looking to close the week down around 4%, its worst weekly close since mid-June 2021. But its current price level of around $1,800 an ounce could put gold at risk of a bigger selloff, according to analysts. Gold was hurt by technical selling pressure after dropping below the $1,830 …

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Yellen addresses stablecoin turmoil: not a ‘real threat to financial stability,’ but it’s growing ‘rapidly’ and presents ‘bank run’ risks known for centuries

(Kitco News) As the stablecoin collapse sent the crypto market crashing, with Bitcoin trading below $30,000 and Ethereum below $2,000, US Treasury Secretary Janet Yellen addressed the significance of the meltdown. “I wouldn’t characterize it at this scale as a real threat to financial stability, but [the use of stablecoins is] growing very rapidly, and …

Yellen addresses stablecoin turmoil: not a ‘real threat to financial stability,’ but it’s growing ‘rapidly’ and presents ‘bank run’ risks known for centuries Read More »

Fed Chair Powell confirmed for 2nd term as Fed focuses on its inflation battle

(Kitco News) The US Senate confirmed Federal Reserve Chair Jerome Powell’s second term in an 80-19 vote as the US central bank steps up its fight against high inflation. The vote showed broad support for Powell after the Federal Reserve decided to raise rates by 50-basis-points in May, the steepest hike since 2000. Even though …

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5 things to know before the stock market opens Thursday, May 12

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures drop after Wall Street extends its multiday losing streak Traders on the floor of the NYSE, May 11, 2022. Source: NYSE US stock futures dropped Thursday as the broad sell-off and revaluation of risk assets …

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‘Extreme panic’ in crypto: How risky is Bitcoin price below $30k?

(Kitco News) The crypto market is in a panic mode as digital assets lost $800 billion in market value over the past month, according to CoinMarketCap’s data. The shift in sentiment comes as investors revaluate risk assets ahead of a much tighter monetary policy worldwide. In its latest round of volatility, Bitcoin plummeted to $29,330, …

‘Extreme panic’ in crypto: How risky is Bitcoin price below $30k? Read More »

5 things to know before the stock market opens Wednesday, May 11

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Futures turn lower after consumer prices remain at four decade highs Traders on the floor of the NYSE, May 10, 2022. Source: NYSE US stock futures turned lower Wednesday after the first of two key April inflation …

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