Gold prices trade near session lows strong S&P flash PMI data helping to weigh on market

Gold prices trade near session lows strong S&P flash PMI data helping to weigh on market

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News)- Bearish sentiment appears to be finally catching up with the gold market as stronger than expected activity in the manufacturing and … Read more

‘Fed sledgehammer’ will cause a crash worse than 2008 but Bitcoin, Ethereum will hit new all-time highs by 2025

‘Fed sledgehammer’ will cause a crash worse than 2008 but Bitcoin, Ethereum will hit new all-time highs by 2025

(Kitco News) – The ‘Fed sledgehammer’ of rising interest rates will cause a market crash worse than 2008, but Bitcoin and Ethereum will recover to all-time highs, said Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence. “I think it’s going to be worse than the 2008 correction, worse than the Great Financial Crisis,” said McGlone. … Read more

Will the Ethereum Merge Reduce Crypto Emissions?

Will the Ethereum Merge Reduce Crypto Emissions?

A machine for mining ether on display at a crypto convention in Thailand.Photo: Lauren DeCicca (Getty Images) If you type the phrase “the Merge” into Google today, you’ll be treated with a countdown: It’s coming in a little over two days, as of this writing. The countdown is ticking off the time until one of … Read more

Nobel laureate in economics says Bitcoin’s true value is zero, gold is a ‘terrible’ inflation hedge – Eugene Fama

Nobel laureate in economics says Bitcoin’s true value is zero, gold is a ‘terrible’ inflation hedge – Eugene Fama

Bitcoin and gold are bad long-term investments, said Eugene Fama, 2013 Nobel laureate in economics and Professor of Finance at the University of Chicago. “This is a case where the market hasn’t figured out [Bitcoin] has no value,” he said. “At the moment, I guess even the crooks don’t transact and hold it. They’ll probably … Read more

How Much Crypto Has Been Stolen in the Last Three Months?

How Much Crypto Has Been Stolen in the Last Three Months?

Photo: Dan Kitwood (Getty Images) Cryptocurrencies havehaven’t been doing so hot lately. The last three or four months have seen price plummet, and the general outlook for crypto bros (and gals) has been grim. But crypto’s cruel summer and the instability that’s come with it haven’t changed the fact that fraud, theft, and financial mayhem … Read more

The Fed is ready to ‘inflict pain’ on the economy to bring inflation down; stocks, Bitcoin to see more downside – Alfonso Peccatiello

The Fed is ready to ‘inflict pain’ on the economy to bring inflation down;  stocks, Bitcoin to see more downside – Alfonso Peccatiello

The Fed will ‘inflict pain’ to get inflation down to 2 percent, said Alfonso Peccatiello, Author of The Macro Compass. The central bank’s resulting policy will adversely affect stocks and cryptocurrencies. In his August 26th speech at Jackson Hole, Federal Reserve Chairman Jerome Powell adopted a hawkish tone, saying that reducing inflation will “bring pain … Read more

European energy prices skyrocket, risking political unrest and economic calamity – Will Rhind

European energy prices skyrocket, risking political unrest and economic calamity – Will Rhind

Energy prices are skyrocketing in Europe, with prices rising to 10 times their decade-long average. This could lead to economic calamity and political unrest, said Will Rhind, Founder and CEO of GraniteShares. Europe’s expensive energy prices come as Russia, which supplies 40 percent of the European Union’s gas needs, has cut off its Nord Stream … Read more

Gold price still on track to hit $7,000 at the end of the decade – Bytetree’s Charlie Morris

Gold price still on track to hit ,000 at the end of the decade – Bytetree’s Charlie Morris

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – The gold market continues to languish below $1,750 an ounce; however, one fund manager said that the precious metal’s long-term … Read more

Crypto.com Accidentally Gave a Woman a $10.5 Million Refund

Crypto.com Accidentally Gave a Woman a .5 Million Refund

It’s edging on a year since Crypto.com bought the naming rights to the stadium formerly called the LA Staples Center. Now the company is scraping back its millions from wherever it can get it.Photo: Ringo Chiu (Shutterstock) What would you do if a company accidentally sent you millions in dollars you never asked for? Well, … Read more

‘The crash is here’: stocks, gold, silver, bitcoin, real estate are crashing, ‘it’s time to get rich’ – Robert Kiyosaki

‘The crash is here’: stocks, gold, silver, bitcoin, real estate are crashing, ‘it’s time to get rich’ – Robert Kiyosaki

(Kitco News) Markets are crashing, and the big price collapse Robert Kiyosaki predicted is here, the best-selling author of ‘Rich Dad Poor Dad’ tweeted. “All markets crashing: Real Estate, Stocks, gold, silver Bitcoin,” he said this week. “Middle class wiped out by higher oil inflation. Yet Rich are getting richer. Difference in head not wallet. … Read more