Massive 'capitulation event' could be happening in gold TD Securities
(Kitco News) - With gold erasing $70 this week while the U.S. dollar surges and crude oil sells off, TD Securities is not ruling a "massive capitulation" event in gold.
Luxury jeweler Graff Diamonds pays $7.5 million worth of Bitcoin in ransom to Russian hackers
(Kitco News) - A damaging ransom attack has forced luxury British jeweler Graff Diamonds to pay $7.5 million worth of Bitcoin to a group of Russian hackers, a London lawsuit revealed.
'It's a war on two fronts' for commodities as short positions grow in copper, silver, gold Pepperstone
(Kitco News) - Recession calls are triggering a major slide in the commodities sector, with short positions quickly growing in copper, oil, gold, and silver, according to Pepperstone's head of research Chris Weston.
Central banks step up gold buying in May, June looks promising WGC
(Kitco News) - Central banks worldwide bought gold for the second consecutive month in May, stepping up their precious metal purchases, according to the latest data from the World Gold Council (WGC).
Zimbabwe to tame inflation with gold coins
(Kitco News) - Zimbabwe's central bank will start selling gold coins later this month to try and tame inflation by providing a store of value to the country's plunging currency and giving the population an alternative to the U.S. dollar.
Gold price erases $35 on U.S. dollar strength, all eyes on FOMC minutes, jobs data
(Kitco News) - The precious metals market was all in the red Tuesday, with gold tumbling $35 as the U.S. dollar index surged to 20-year highs and markets focused on the Federal Reserve's meeting minutes and the U.S. jobs report.
Bitcoin as a global standard would be an 'absolute economic catastrophe' - Ernst & Young's global blockchain leader
(Kitco News) - If Bitcoin were to become a global monetary standard, it would be an "absolute economic catastrophe," said Ernst & Young's global blockchain leader Paul Brody.
Crypto winter impact: 50% drop in the number of active crypto users, says Bank of America
(Kitco News) - The crypto bear market is directly impacting the still very new industry, with Bank of America reporting a more than 50% drop in the number of active crypto users between its peak of one million in November and just 500,000 users in May.
Fed to err on the side of too many rate hikes: Why is gold at $1,800?
(Kitco News) - Markets are anticipating the Federal Reserve to err on the side of tightening, with Chair Jerome Powell admitting this week that the real mistake would be failing to get inflation under control.
Bitcoin closes June down 40% and below $20k as markets see recession fears, contagion risks
(Kitco News) - The world's largest cryptocurrency is down 40% in June, ending the month below its key level of $20,000. The markets are downbeat as the focus shifts to rising recession fears and more contagion risks in the crypto space.
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