Gold and silver rates today tumbles in Bangalore, Hyderabad, Kerala, Vizag

Gold HIGHLIGHTS Gold and Silver rates in India fell today following the sharp losses of the previous session.

Gold and silver rates today 05 June 2020: Gold and Silver rates in India fell today following the sharp losses of the previous session. On MCX, August gold futures fell 0.18% to Rs. 47,510 per 10 gram after tumbling in the previous session. Tracking gold, silver rates also edged lower. On MCX, July silver futures fell 0.9% to â¹48,500 per kg. Silver had declined about â¹1,500 in the previous session. An appreciation of rupee against US dollar also put pressure on domestic gold prices. Gold prices in India include 12.5% import duty and 3% GST.

Gold and silver rates dipped today as equity markets continued to rally on optimism over reopening of economies. However, protests in the US and a soft dollar has led to the downfall of gold.

Going by the gold rates at metro cities, the gold rates in silicon city Bangalore declined by 250 to Rs. 43,550 and Rs. 690 decreased to 47,510 per ten gram of 22 carat and 24 carat gold respectively.

The ten gram of 22 carat gold in the Hyderabad market has decreased by Rs. 120 to Rs 44,560 and the gold rate for ten gram of 24 Carat also decreased by Rs. 140 to Rs. 48,640

While in Kerala, the gold rates have decreased by Rs. 100 per ten gram of 22 carat gold at Rs. 42,800 and Rs. 46,800 per ten grams of 24 carat gold with a hike of Rs. 100.

In Visakhapatnam, the same trends followed with with decline of Rs. 120 to Rs. 44,560 per ten gram of 22 carat while the ten gram of 24 carat gold is down by Rs. 140 to Rs. 48,640.

– 05 June 2020 Pavan Kumar Bandari Hans News Service

David

PRECIOUS-Gold slips 2% as recovery hopes bolster risk appetite

* Gold hits lowest level since May 7

* Private payrolls drop by 2.76 mln in May vs 9 mln forecast

Gold fell more than 2% on Wednesday as risk sentiment improved on hopes of a faster recovery from a coronavirus-driven economic slump, with investors largely overlooking civil unrest in the United States.

Spot gold fell 1.6 % to $1,699.37 per ounce by 1:05 p.m. EDT (1705 GMT), having earlier hit a near one-month low of $1,688.89.

U.S. gold futures fell 1.75 % to $1,703.50 per ounce.

“There is a strong risk-on sentiment right now… U.S. equity markets are breaking out,” said Phil Streible, chief market strategist at Blue Line Futures in Chicago.

A gauge of global equity markets rose and the euro gained against the dollar on Wednesday as easing lockdowns and hopes for more monetary stimulus boosted investor confidence.

Sentiments were also bolstered by data showing U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen.

Also, data from Institute for Supply Management showed U.S. services industry activity pushed off an 11-year low in May.

“It (latest economic data) shows that maybe things are coming back faster than expected,” said Bob Haberkorn, senior market strategist at RJO Futures.

The supporting fundamentals for gold like lower interest rates and quantitative easing programs have not changed, Haberkorn said, adding, in longer term gold should go higher.

Lower interest rates reduce the opportunity cost of holding non-yielding gold, which also tends to benefit from widespread stimulus measures as it is often seen as a hedge against inflation and currency debasement.

U.S. protesters ignored curfews overnight as they vented their anger over the death of an unarmed black man at the hands of police.

Holdings of SPDR Gold Trust gold-backed exchange-traded fund rose to 1,129.28 tonnes on Tuesday, their highest since April 2013.

Elsewhere, palladium fell 0.3% to $1,943.14 an ounce, while platinum dipped 0.5%, to $834.78 per ounce.

Silver fell 2.3% to $17.68 per ounce.

By Eileen Soreng

David

‘We expect a considerable drop in gold prices’, says ABN Amro

'We expect a considerable drop in gold prices', says ABN Amro

Gold positioning remains very crowded, according to ABM Amro, which is why the Dutch bank is not recommending re-entering long gold positions at the moment.

“We continue to think that positions are too crowded and that prices are too high to recommend re-entering longs,” ABN Amro precious metals analyst Georgette Boele wrote in a report last week.

The bank is projecting a major drop in gold prices within the next three months, citing another risk-off wave in financial markets. ABN Amro’s outlook has gold ending Q2 at $1,725 an ounce.

“We also expect a considerable drop in gold prices,” Boele said. “Between now and 3 months we expect another risk-off wave in financial markets. We think that investors will close part of their positions (ETF and/or speculative positions) in gold, silver and platinum.”

At the time of writing, August Comex gold futures were trading at $1,750.30 an ounce, down 0.08% on the day.

Gold’s trading pattern this past month reveals resilience, with any price dips being bought up by investors and gold staying firmly above the $1,700 an ounce level, noted Boele.

“Each time there has been some price weakness it seems that investors are buying gold on dips. Gold ETF positions have made a new record and stand just under 100 million ounces. After some liquidation of speculative positions, speculators have also showed renewed interest in gold,” he said.

Long-term, ABN Amro is very bullish on gold, projecting the yellow metal to finish Q3 at $1,775 an ounce and Q4 at $1,800 an ounce.

By Anna Golubova

David

Gold investors are going to have some fun as prices run to $5,000 this decade – Incrementum AG

Gold is embarking on a broad-based, decade-long bull market, and it’s not a matter of if prices hit all-time highs but when it hits all-time highs, said one of the authors behind the annual In Gold We Trust report.

In an interview with Kitco News, Ronald-Peter Stoeferle, fund manager at Incrementum AG, said that a new monetary policy regime of low interest rates and high inflation is expected to drive gold prices to nearly $5,000 an ounce in the next 10 years.

“I'm pretty confident that we're at the beginning of the second stage of the trend, which is the so-called public participation phase. And this is the phase, which is the longest, and which is actually the most fun part of a bull market,” he said.

In the past two months, central banks and governments around the world have unleashed an unprecedented amount of liquidity into financial markets as the global economy ground to a halt because of the coronavirus. According to the firm’s 14th annual report, $21 trillion dollars have been pumped into the global financial markets.

Stoeferle, said the amount of stimulus used to combat the latest economic crisis represents about 23% of gross domestic product worldwide.

“You could buy all the, the annual gold production 120 times,” he said. “And this is just the beginning. It is basically impossible that we will see significantly higher real interest rates.”

Although the pandemic has created what could be the worst economic crisis since the 1930s’ great depression, Stoeferle said that it has only revealed growing issues in the global economy. He noted that cracks in the economy started to appear in 2019 as the Federal Reserve was forced to cut interest rates three times during the summer.

“The Corona crisis is only the straw that broke the camel's back. There were already lots of signs that the economy is getting weaker,” he said. “Global trade was falling by 0.5% in 2019; we only saw that in 1980.”

Stoeferle added that the response to the pandemic has only added to what was already a looming debt crisis. The only way to get out of this now is through inflation, he said.

In this environment, gold is going to be an important inflation hedge and play an important role in central bank monetary policy, he said.

But it’s not only the physical metal that investors should be looking at. Stoeferle said that a portfolio should a dedicated portion of the precious metal as an insurance and investors should look at the mining sector as an undervalued opportunity.

“I see tremendous value in the mining space. The companies have got much leaner and the leverage on higher gold prices is probably higher than ever,” he said. “But never make the mistake to mix up the virtues of physical goals with the risks and opportunities of mining stocks.”

By Kitco News

David

Gemini vs Coinbase â which one is better?

Gemini vs Coinbase – which one is better?

Gemini vs Coinbase – which one is better?

According to a recent report, cryptocurrency searches have almost tripled over the last six months. This is in light of the current COVID-19 pandemic which has brought the world to its knees. People are fully aware that the ongoing crisis is going to adversely affect the economy hence they are looking for a haven to store their wealth. Normally they would turn to gold, but as they say “cryptocurrencies are the new gold.” This leads us to the next very critical question; what is a cryptocurrency? I would like to believe that most of my readers have come across this term before because cryptocurrencies have been making headlines and grabbing so much attention lately. However, for those who have never heard of this term before, you have so much catching up to do; but don’t you worry because I’ve got you covered.

Cryptocurrencies are digital coins whose operation is exclusively online.

Most of them do not have a physical representation. Also, they have the same uses as the fiat money we are accustomed to. Some common cryptocurrencies include Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Monero. One of the many ways in which cryptocurrencies differ from traditional money is in the way that they are acquired. While traditional money is distributed by central banks, cryptocurrencies are bought from online exchanges. As a beginner in crypto, you need an exchange that is user-friendly and available in your country. Very many people want to embark on their cryptocurrency journey but do not know just where to start. Today there are very many exchanges to choose from; Gemini and Coinbase are two of the biggest and most trusted exchanges out here. The following “Gemini vs Coinbase” review explores the two exchanges in such a way that you will be able to make an informed decision about which one suits you best

Gemini vs Coinbase: what is Gemini?

Gemini is a well-respected cryptocurrency exchange which was founded in 2015. Its mane is a reference to the zodiac sign that depicts a pair of twins which is quite clever because it is the brainchild of the Winklevoss twins. Its creators are two of the earliest investors in Bitcoin. With its headquarters in New York and strict compliance with existing regulation; the exchange has quickly become a favorite among high-volume investors and institutional traders. One of its outstanding features is that it offers extra security to its users, unlike most other exchanges. This exchange is all-rounded; it allows its users to purchase cryptocurrencies using fiat money which is not the case for many exchanges. It also offers an “on and off-ramp” to cryptocurrency making it a direct competitor with the likes of CEX.io, Kraken, and Bitstamp. It also offers users a lot of extra security features that are lacking in many exchanges.

Distinctive Features

Has highly respected staples of the cryptocurrency industry
Offers both bank and wire deposit options
Responsive customer support
Allows both cryptocurrency and fiat money withdrawals
Offers advanced trading options in the form of different kinds of buy and sell orders
Within the US, it accepts deposits made using Automated Clearing House (ACH)
Gemini supported states include Hong Kong, Puerto Rico, South Korea, Canada, and the US
Accepts both cryptocurrency and fiat money
Offline storage of cryptocurrency and fiat money to protect from hacking

Coinbase Vs Gemini: what is Coinbase?

Coinbase is arguably the most popular digital currency globally. Its headquarters are currently in San Francisco, California and it was established by Fred Ehrsam and Brian Armstrong in 2011. Coinbase is user-friendly and easy to maneuver as compared to other exchanges. It also offers various options for buying and purchasing different digital assets. Most cryptocurrency exchanges are advanced with sophisticated buying and selling options such as ‘limit orders’ and ‘market orders’. It is the absence of these sophisticated features that make Coinbase well suited for beginners. Once you get accustomed to the exchange you can then progress to GDAX which is a more advanced platform that is associated with Coinbase.

Distinctive features

Available in over 100+ countries including USA, UK, Canada, Singapore, and Australia
It offers very responsive customer support
Deals with both cryptocurrency and fiat money
Offers simplified instant buying options
Bitcoin Cash and Litecoin are available
Both the money and cryptocurrency are stored offline for protection from hacking

Gemini vs Coinbase: How is Gemini better than Coinbase?

Better security

First of all, both exchanges take their customers’ protection very seriously and have additional security measures in place. They both separate the users’ money from the money which they use to operate. And also enforce the two-factor authentication which decreases the likelihood of an account being hacked or phished. Those are just a few of the security measures that both exchanges have put in place.

Gemini however, takes some extreme measures to secure its customers’ funds. They have secured the few digital assets that are stored online in a hot wallet using Amazon Web Services which high level of security controls. Also, only high-level employees can access the coins stored on hot wallets not to mention the hot wallets are accessed through multi-factor authentication (more advanced than two-factor authentication). They use two-level cold storage whose access to cold storage requires the simultaneous actions of more than one employee, thus increasing security. Both hot and cold wallet keys are secured on hardware that has passed a high level of security checks. Lastly, security hardware comes from different manufacturers to prevent supply-chain issues. These extreme measures could be the reason why it was picked by the Chicago Board Options Exchange to settle its Bitcoin futures in 2017. Its high-security precautions make it a better alternative for professional traders who store large volumes of cryptocurrency. However, be advised that exchanges are not suitable for long term storage.

2. Lower fees

Gemini outperforms Coinbase when it comes to fees; they are your best bet to save as much as possible on fees. It does not charge fees for deposits or withdrawals and it only charges a 0.25% or even less fee for trading. Coinbase on the other hand charges around 1.49% for bank transfers and purchases and 3.99% for credit/debit card purchases. Thanks to their very low fees, Gemini is the best alternative for high-volume traders. Most professional traders feel that Coinbase eats a very huge chunk of their profits.

Coinbase vs Gemini: How is Coinbase better than Gemini?

User-friendliness

Coinbase certainly beats Gemini when it comes to user-friendliness. Their website is not only easy to maneuver but also quite responsive. They offer an immediate option for buying and selling digital coins. You can signup, make a deposit into the site and successfully buy your first cryptocurrency in just a matter of seconds. Although the registration at both Gemini and Coinbase is pretty much alike, Coinbase is much easier for a beginner to maneuver. There are no confusing terms, you just log in and conduct your transactions. Gemini is friendlier for experienced traders because it has more advanced features; it offers a clutter-free interface, clean and the options are set out. However, for an absolute beginner, Coinbase is the charm.

Higher trade volumes

Most new users make their first few purchases using Coinbase because it is very user friendly; it is therefore not surprising that the exchange trades more coins than Gemini. For instance, in 5 months. Coinbase can trade over 5.20 BTC while Gemini only trades 1.7 BTC.

Coin availability

While both platforms offer a small variety of cryptocurrencies, Coinbase has a better coin availability than Gemini. They provide Bitcoin, Ethereum, Litecoin, and Bitcoin Cash; while Gemini provides Bitcoin and Ethereum only. This makes Coinbase a better option for traders who prefer to deal with a wider variety of coins.

Extensive deposit methods

Coinbase and Gemini both have different ways of funding their customers’ accounts. However, Coinbase offers more extensive deposit methods; their customers can buy their digital coins using a debit card, a credit card or a bank transfer. While Gemini only offers the bank transfer option. Cryptocurrency deposits are welcome for the specific cryptocurrencies supported by either exchange. Withdrawals follow the same deposit methods for either exchange.

Offers higher purchasing limits

Coinbase does not give any clear limits on new customers; instead, these limits are dictated by factors such as account verification, buying history and account age. The customer’s limit is shown on his/her account’s verification page. Bank transfer limits can reach up to $5,000 per week while credit card limits can go up to $60 per week. Gemini, on the other hand, has predefined bank transfers purchasing limits of $ 500 per day. Therefore, Coinbase is your better option if you are looking to immediately lock in a price higher than $500. Lastly, both Gemini and Coinbase offer wire transfers for those users looking to deposit larger sums; though prior direct communication with them is mandatory.

Conclusion

There you have it! Our complete guide of Gemini vs Coinbase. I hope that helped in distinguishing between the two exchanges. Coinbase is recommended for beginners; despite its high fees the convenience and user-friendliness are commendable. It is also the best option for you if you want to use a credit card. Gemini, on the other hand, is best for experienced traders, those who want to take their trading to another level. It is also a great option when it comes to saving on fees. With both sites being trustworthy, secure and very responsive to their customers; the winner of the Gemini vs Coinbase battle boils down to the user’s needs and preferences. What do you think? Which one is better? Is it Gemini or is it Coinbase?

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Zerocrypted

https://zerocrypted.com/gemini-vs-coinbase-which-one-is-better/

David

March ructions deter bullion banks from gold futures

photo of three poured gold bullion bars“Big bullion banks including HSBC have pulled back from trading gold futures after disruption in the market that flared up in the coronavirus crisis.”

USAGOLD note: An interesting look at what happened back in March when COVID-19 disrupted the flow of bullion in the gold market and affected settlement on the COMEX. Some bullion banks were caught short forcing them to take a major mark to market loss when premiums bolted higher. Delivery first notice day, by the way, was yesterday (5/28/2020), so we will see in time whether or not a similar event to March is in progress on the June contract.

Henry Sanderson/5-27-2020

David

The precious metals continue to climb to higher pricing

As the last trading day of the month comes to a conclusion, precious metals futures traded moderately to strongly higher on the day. Today’s gains were felt across the metals.

However, none of the other metals could keep up with the precious ore and today could be summed up by the lone ranger himself “Hi-Ho silver away!”. SI futures were running like a horse in the Kentucky derby and in addition to earlier gains this month, silver galloped over 20% higher for the month.

The gains in silver were superb with the precious white metal gaining 2.88%. The July futures contract closed at $18 48 ½ cents, after factoring in today’s gains of almost $0.52. Technical studies indicate that resistance first starts at $18.65 per ounce, with major resistance at $19.

Gold also had a very strong finish closing higher on the day, as well as higher on the month. Gold futures basis the most active August 2020 contract gained $14.70 (+0.85%) and is currently fixed at $1743 per ounce. Our technical studies indicate that the first level of resistance occurs at $1765, with major resistance at $1788 per ounce.

Palladium futures gained 1.73%, a total of $32.90 with August futures closing at $1934.50. Platinum gained $5 in trading today, with the most current July futures currently fixed at $873.10 per ounce.

Strength in the precious metals this month can be attributed to two factors. The first of which is the global pandemic which has resulted in economies worldwide contracting. This global contraction of GDP has resulted in central banks worldwide taking emergency measures to aggressively curtail the economic damage.

The Federal Reserve along with the U.S. Treasury Department have taken dramatic steps infusing approximately $6 trillion in aid relief packages to individuals, small businesses and corporations. The massive government stimulus was a major underlying reason that both global equities and precious metals moved higher this month.

The second factor contributing to this month’s dramatic rise in the precious metals is due to the increased tensions between the United States and China. This tension stems from the recent unrest in Hong Kong, and the response by the United States.

Yesterday U.S. Secretary of State, Mike Pompeo declared Hong Kong to be no longer autonomous from China. That was followed by today’s press conference President Trump held in the White House Rose Garden. During this conference President Trump announced that the United States is leaving the World Health

Organization, and will begin to revoke Hong Kong’s special status. He also said that the United States would move to sanction Chinese officials if they continue to smother Hong Kong.

The economic fallout will take years before economies globally return to their pre-pandemic levels. It is also highly likely that the tension between the United States and China will continue. As such these two factors could have a profound impact on precious metals pricing taking the entire complex higher.

By Gary Wagner

David

The bubble is building; how did famed gold investors make their fortune?

Famed investor Stanley Druckenmiller has recently said that the current return to risk ratio in broad equities is the worst that he has ever seen in his career, and that is the sentiment shared by Bob Thompson, portfolio manager at Raymond James.

Thompson told Kitco News that this market is “entirely liquidity driven.”

74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

“This market rally has been totally fed by the Fed over time. The bubble is building. We have corporate debt. Here in Canada, we have massive consumer debt,” he said. “This is how it happens. People are going to blame the coronavirus for this, but the coronavirus is just the pin that popped the bubble. The bubble was already there.”

Thompson’s comments come as China passed legislation to enact special security laws in Hong Kong that could strip away the city’s autonomy and freedoms, analysts say.

“People have to realize that China is a communist country. They use capitalism to their advantage…so sooner or later they were probably going to do this to Hong Kong. I think they chose this opportunity because things are in a bit of turmoil right now anyway. So obviously it’s going to be a big issue with trade going forward and the coronavirus is going to be played as a political issue so we can blame somebody,” he said.

However, with the Federal Reserve continuing to pump liquidity into the monetary system, investors are likely to shrug off any escalating tensions between the U.S. and China for now.

In terms of investing strategies that have worked, Thompson’s book “Stock Market Superstars” details the way some of the best fund managers have picked stocks, one of whom is Eric Sprott, former chairman of Sprott Inc.

“There were a few things that I learned, one of them I learned from Eric [Sprott] is conviction. You have to have conviction, you can’t pay attention to what other people are saying. You have to do your own research,” he said. “There’s a saying, ‘stock market corrections are when stocks are returning to their rightful owners’ and I think that’s a great strategy, because if you have conviction you’re going to stick with it.”

By Kitco News

David

âRocks beat stocks’ gold is still on its way to $1,900 â Bloomberg Intelligence

‘Rocks beat stocks’ gold is still on its way to $1,900 – Bloomberg Intelligence

The gold market has seen consistent selling pressure since hitting a 7.5 year high last week, but one analyst said that investors need to keep their eye on the bigger-long term picture.

Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that gold is just starting its bull rally and investors shouldn't get caught up in the short-term price action, "missing the forest for the trees."

McGlone described the latest price action in gold as "noise within the trend."

"The next really big step for gold is getting above $1,900; it's just a question of time," he said, "I don't see what it is going to take not to go higher and I can think of a dozen reasons for it to go higher."

With the Federal Reserve expected to maintain its extremely loose monetary policy and the global economy nowhere near the road to recovery after being disseminated by the COVID-19 pandemic, gold will remain in a long-term uptrend.

As to what will be the catalyst to drive gold prices to its next stage in its bull run, McGlone said he is looking at over-valued equity markets. McGlone's comments come as the S&P 500 pushed to its highest level since early March, closing Wednesday's session at 3036 points.

"The equity market, I view as delusional at these levels," he said. "I don't think equity prices are sustainable at these levels and that is the biggest debate on the planet, I think right now. The rock is beating stocks."

With more than 30 million people applying for employment in the U.S. even as lockdown measures around the country start to ease, McGlone said that a recovery won't mean business as usual.

"I don't think we're going to come back to the old days of spend what you can right away. We're going back to saving and preparing for the worst, which means more demand for things like gold and bonds," he said. "And there's no more yield in bonds."

As to the timing of his call for gold prices at $1,900, McGlone said that if equity markets see another sharp correction in the fall, then gold prices could be at his target by the end of the year or early 2021.

By Kitco News

David

How the immune system works

Our immune system is essential for our survival. Without an immune system, our bodies would be open to attack from bacteria, viruses, parasites, and more. It is our immune system that keeps us healthy as we drift through a sea of pathogens.

This vast network of cells and tissues is constantly on the lookout for invaders, and once an enemy is spotted, a complex attack is mounted.

The immune system is spread throughout the body and involves many types of cells, organs, proteins, and tissues. Crucially, it can distinguish our tissue from foreign tissue — self from non-self. Dead and faulty cells are also recognized and cleared away by the immune system.

If the immune system encounters a pathogen, for instance, a bacterium, virus, or parasite, it mounts a so-called immune response. Later, we will explain how this works, but first, we will introduce some of the main characters in the immune system.

White blood cells

A white blood cell (yellow), attacking anthrax bacteria (orange). The white line at the bottom is 5 micrometers long.

Image credit: Volker Brinkmann

White blood cells are also called leukocytes. They circulate in the body in blood vessels and the lymphatic vessels that parallel the veins and arteries.

White blood cells are on constant patrol and looking for pathogens. When they find a target, they begin to multiply and send signals out to other cell types to do the same.

Our white blood cells are stored in different places in the body, which are referred to as lymphoid organs. These include the following:

Thymus — a gland between the lungs and just below the neck.

Spleen — an organ that filters the blood. It sits in the upper left of the abdomen.

Bone marrow — found in the center of the bones, it also produces red blood cells.

Lymph nodes —small glands positioned throughout the body, linked by lymphatic vessels.

There are two main types of leukocyte:

1. Phagocytes

These cells surround and absorb pathogens and break them down, effectively eating them. There are several types, including:

Neutrophils — these are the most common type of phagocyte and tend to attack bacteria.

Monocytes — these are the largest type and have several roles.

Macrophages — these patrol for pathogens and also remove dead and dying cells.

Mast cells — they have many jobs, including helping to heal wounds and defend against pathogens.

2. Lymphocytes

Lymphocytes help the body to remember previous invaders and recognize them if they come back to attack again.

Lymphocytes begin their life in bone marrow. Some stay in the marrow and develop into B lymphocytes (B cells), others head to the thymus and become T lymphocytes (T cells). These two cell types have different roles:

B lymphocytes — they produce antibodies and help alert the T lymphocytes.

T lymphocytes — they destroy compromised cells in the body and help alert other leukocytes.

BOOST YOUR IMMUNE SYSTEM

David