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After an unexpected selloff last week, gold is busy building support. But the $1,800 level is proving to be a struggle.
Here’s a look at Kitco’s top three stories of the week:
3. The Yellen-Powell duo keeps the markets on their toes as they talk down the Federal Reserve’s hawkish June monetary policy meeting.
Federal Reserve Chair Jerome Powell: https://www.kitco.com/news/2021-06-22/Gold-price-ignores-Powell-s-inflation-stance-It-s-higher-than-expected-but-it-ll-wane.html
U.S. Treasury Secretary Janet Yellen: https://www.kitco.com/news/2021-06-23/Yellen-urges-Congress-to-raise-debt-ceiling-to-avoid-August-default-Failing-to-do-so-would-have-catastrophic-consequences.html
2. Bitcoin drops below $30,000, briefly erasing all the year-to-date gains. https://www.kitco.com/news/2021-06-22/Bitcoin-is-better-than-gold-Shark-Tank-s-Mark-Cuban-remains-positive-on-crypto-as-bitcoin-erases-gains-for-the-year.html
1. Many investors underestimate the impact of Basel III on the gold market, says Goldex CEO Sylvia Carrasco. https://www.kitco.com/news/2021-06-22/Basel-III-to-trigger-liquidity-squeeze-gold-price-could-be-looking-at-2-100-by-year-end-Goldex-CEO.html
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