Hello,
Welcome to another issue of The Gold Report.
Update
Apologies for another issue without any commentary!
If it is any consolation, I was marching for the freedom of my special subscribers in London!
News
November? December? Fed's 'taper' timeline tied to volatile jobs data
The Federal Reserve, facing a labour market that may be stalling or on the cusp of a surge, is expected next week to open the door to reducing its monthly bond purchases while tying any actual change to U.S. job growth in September and beyond.
Gold Struggles as Concerns about Upcoming FOMC Meeting Mount
Yesterday’s [16/09/20] meltdown of $41 in gold was a partial result of dollar strength however, that was responsible for only a small component of the decline. The primary cause of yesterday’s tumble was a direct result of the U.S. Census Bureau’s monthly sales and food services report for August 2021. Analysts polled by various news sources had estimated that the report would show that retail sales had declined by a range of -0.8% to a decline of -1.8%. The actual numbers were the opposites of forecasts and predictions by economists.
Kyrgyzstan Blocked From London Gold Trading Over Missing Bars
The organization that oversees London’s gold trading blocked metal mined in Kyrgyzstan from entering the city’s market, dealing a blow to the central Asian nation’s bullion-dependent economy.
The London Bullion Market Association said Friday it had suspended Kyrgyzaltyn OJSC, Kyrgyzstan’s state-owned gold producer, from its list of acceptable refiners. The list sets standards in London’s gold market, one of the world’s biggest, and is regarded as an international benchmark. Traders and officials have said the move will likely restrict Kyrgyzaltyn from selling bars in other gold hubs including Switzerland and New York.
I hope you have found this article insightful and helpful!
Please feel free to comment below.
Kind regards,
Le Libérateur
If you like Serfdom Road, please subscribe and share!