The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
It was a day of recovery for financial markets as cryptos and stocks rebounded from yesterday’s Fed-inspired pullback, with Bitcoin climbing back above $59,000. - The gold market is holding support above $2,300 but is not seeing much momentum as the U.S. labor market continues to stabilize.Copper prices slide from two-year highs but uptrend remains as demand outstrips supply
– Federal Reserve Chair Jerome Powell stuck to his guns at this afternoon’s post-FOMC press conference, telling reporters the central bank would maintain restrictive rates as long as necessary and refusing to offer specific triggers or timeframes for hikes, holds, or cuts to the benchmark interest rate.
Crypto prices dumped and pumped on Wednesday, rebounding after Fed Chair Powell held interest rates steady, which put pressure on the DXY and Treasury yields.With the Bitcoin halving in the rearview mirror, crypto investors are looking for the next major bull market catalyst. Experts weigh in on how an interest rate cut or hike will affect the market.
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