Month: July 2024

Golden Opportunity? Experts Forecast Major Price Hike to $3,000 per Ounce

According to analysts at Bank of America, the price of gold could reach $3,000 per troy ounce within the next 12-18 months, writes CNBC. This could happen if interest rates in the US decrease and demand from large institutional investors increases. Since the beginning of 2024, the precious metal has risen in price by more than 10%. According to a survey by the World Gold Council, nearly 30% of central banks in various countries that participated in the study plan to increase their gold reserves over the next 12 months. Bank of America noted that this is the highest figure since monitoring began in 2018. Analysts believe that such demand for precious metals from central banks is a positive sign for gold exchange prices. On April 12, the price of gold surpassed $2,400 per ounce for the first time in history. At that time, analysts indicated that the price increase was related to a rise in the geopolitical risk premium due to conflicts in the Middle East, Eastern Europe, and other hotspots. In the same month, Ed Yardeni, head of the consulting agency Yardeni Research, stated that he expects a double-digit increase in gold prices due to a possible new wave of inflation in the US. Yardeni forecasts that gold prices could rise to $3,500 by the end of next year. Ed Yardeni is not the only expert expecting a significant rise in gold prices in the coming years. Economist and head of Rosenberg Research, David Rosenberg, also predicted that gold prices could reach $3,000 per ounce due to the expected reduction in Federal Reserve rates and increasing geopolitical risks. How To Trade Gold – read here submitted by /u/FXgram_ [link] [comments]

Another Too Big To Fail?

Yesterday, Boeing shares (BA) showed a $10 rise on the news of acquiring Spirit AeroSystems (SPR) with a total transactional value of $8.3 billion. Seriously? Are we celebrating? What happened to the effect of the other news that came out shortly before, stating that the US Justice Department will charge Boeing Co. with criminal fraud, leaving the planemaker to choose between pleading guilty or taking the risk of going to trial, according to people familiar with the matter. Boeing has until the end of the week to decide whether to plead guilty to the charge, the department told the families of victims of two fatal 737 Max crashes and their attorneys in a meeting Sunday, according to the people who asked not to be named discussing a confidential matter. The department will inform Boeing it will have to pay an additional criminal fine of $243.6 million on top of the $243.6 million already paid with a 2021 deferred-prosecution agreement, bringing the total amount of fine close to $500 million, according to two of the people. The company will also have to hire a corporate monitor for three years, they said. Paul Cassell, an attorney representing the crash victims’ families, called the offer the department plans to make to Boeing a “sweetheart plea deal.” “The deal will not acknowledge, in any way, that Boeing’s crime killed 346 people,” he said in an email. “The families will strenuously object to this plea deal.” The fine the department will seek falls far short of a nearly $25 billion fine the families requested — with the possibility of suspending $14 billion to $22 billion of that if Boeing devotes those funds to an independent corporate monitor and improvements to its safety programs. The Justice Department declined to comment. Boeing declined to comment. Source: https://www.bloomberg.com/news/articles/2024-06-30/doj-to-charge-boeing-seek-guilty-plea-from-planemaker I understand that compared to what the families of the victims demanded, it’s peanuts, but since when has this been considered good news for the value of an asset? submitted by /u/FXgram_ [link] [comments]

Bipolar world: the struggle between USDC and USDT

While Tether expresses concerns over new regulation, Circle becomes official EU stablecoin issuer under MICA Circle has received a USDC and EURC license under MiCA, becoming the first stablecoin issuer to comply with the new EU legislation. The event marks a new stage in the development of the European cryptocurrency market, but for most USDC and EURC users, no significant changes are expected. Circle stablecoins will continue to be available and easy to use around the world. Where are the other issuers? We are waiting for the future licensing of Tether, the USDT issuer, but it seems that the company has other plans and instead of immediately adapting to European regulations, the company has focused on the BRICS and Pacific Rim markets. In particular, Tether has introduced an innovative solution for residents of the Philippines that allows them to make social security contributions using cryptocurrencies. https://preview.redd.it/gv2zkxp3yy9d1.png?width=1280&format=png&auto=webp&s=0776e214382509b15c5a5528807904797fed5913 submitted by /u/dll_crypto [link] [comments]

The Reverse Midas Touch

An SEC filing has unveiled that Keith Gill, famously known as ‘Roaring Kitty’ on social media, holds a substantial $245 million stake in the online pet retailer Chewy (CHWY). This investment grants him a 6.6% share in the company, making him the third-largest shareholder. Following the announcement, Chewy’s stock surged by up to 20%. Last week, Chewy shares experienced a rollercoaster ride after Gill posted an image of a cartoon dog resembling Chewy’s logo on the social media platform X. The shares soared by as much as 34% on Thursday before settling slightly lower by the end of the day. Gill, renowned for his advocacy of GameStop, has been actively influencing the video game retailer’s trading in recent months. In mid-June, he revealed a holding of 9.001 million GameStop shares after divesting his extensive call options position. It’s unclear whether he sold his GameStop shares to finance the Chewy investment. Anyway, GameStop shares dropped over 5% following the news. Source: https://www.cnbc.com/2024/07/01/chewy-shares-rally-20percent-after-sec-filing-reveals-roaring-kitty-keith-gill-has-6point6percent-stake.html MT5 Pepperstone Roaring Kitty YouTube Live Stream on June 7th, 2024 Unlike the previous crusade known as the GameStop Saga, Keith’s current revelations have a very short-term speculative impact on assets, even resulting in some drop of price. Can we hope for a second season of the Saga u/TheRoaringKitty? submitted by /u/FXgram_ [link] [comments]