Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

Core Viewpoint - The article discusses the expertise of Ernest Hoffman in the field of crypto and market reporting, highlighting his extensive experience and contributions to market news since 2007 [3]. Group 1 - Ernest Hoffman has over 15 years of experience as a writer, editor, broadcaster, and producer for various media and cultural organizations [3]. - He established the broadcast division of CEP News in Montreal, Canada, creating a fast web-based audio news service and producing economic news videos in collaboration with MSN and TMX [3]. - Hoffman holds a Bachelor's degree with a specialization in Journalism from Concordia University [3].

Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

Core Insights - The article does not provide any specific insights or information regarding companies or industries, as it primarily consists of author information and disclaimers [3][4]. Summary by Sections - Author Background: Ernest Hoffman is a Crypto and Market Reporter with over 15 years of experience in media, focusing on market news since 2007 [3]. - Disclaimer: The article includes a disclaimer stating that the views expressed may not reflect those of Kitco Metals Inc. and emphasizes that the information is for informational purposes only [4].

Group 1 - The current price of gold is reported at $4,955 per ounce [1][2] - Consumer sentiment is measured at 57.3, indicating a specific level of consumer confidence [1][2]

Core Insights - The article does not provide any substantial content related to companies or industries, focusing instead on author information and disclaimers [3][4]. Group 1 - The author, Ernest Hoffman, has over 15 years of experience in market news and has worked with various media organizations [3].

Market Overview - Spot silver experienced a significant decline, dropping as much as 16.6% on Thursday after briefly recovering above $90 an ounce in early Asian trading. Spot gold also fell, decreasing by as much as 3.5% in volatile trading conditions [1][7]. - The sentiment across various asset classes, including regional equities and metals, has turned negative, indicating fragile market conditions and creating a feedback loop amid low liquidity [1][7]. Recent Trends in Precious Metals - Precious metals had previously surged due to speculative momentum, geopolitical tensions, and concerns regarding the independence of the US central bank. However, this rally abruptly ended last week, with silver experiencing its largest daily drop ever and gold its most significant decline since 2013 [2][7]. - Analysts from Standard Chartered Plc noted that price volatility is expected to continue until there is more clarity on monetary policy. They indicated that some of the recent volatility is due to investors redeeming holdings in exchange-traded products, but structural drivers for precious metals remain strong, suggesting a potential recovery [6][7]. Federal Reserve Policy Implications - The market is currently assessing the implications of Kevin Warsh's nomination as Federal Reserve chair. President Trump indicated that he would not have nominated Warsh if he had shown a desire to increase interest rates, suggesting that the Fed is likely to lower rates again, which would benefit precious metals that do not yield interest [3][7].

Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

FUNDAMENTALSSpot gold climbed 3.7% to $4,837.16 per ounce by 0120 GMT, after touching a near one-month low in the ‌previous session. ‌Bullion scaled a record high of $5,594.82 on Thursday.U.S. gold futures for April delivery climbed 4.5% to $4,859.30 ‌per ounce.The U.S. Bureau of Labor Statistics said on Monday the closely watched employment report for January will not be released this Friday because of a partial shutdown of the federal government.Live EventsThe government partially shut down on Saturday ​a ...

Market Overview - Wall Street is expected to experience another decline, with Nasdaq 100 futures down 0.8%, S&P 500 futures down 0.5%, and Dow futures down 0.2% [3] - Spot gold prices have decreased by 3.6% to $4,710, following a nearly 10% drop on Friday when prices fell below $5,000 per ounce [3] - Silver prices are down 4% at $81 [3] Government Shutdown - A partial government shutdown began early Saturday, despite the Senate passing a funding package. House Speaker Mike Johnson expressed confidence that the shutdown will end by Tuesday [4] Oil Market - Oil prices have dropped over 5%, marking the largest single-session decline in over six months, following President Trump's comments indicating potential de-escalation in talks with Iran [5] - Brent crude and U.S. West Texas Intermediate crude are both down in the 5% range, retreating from multi-month highs [5][6] Cryptocurrency Market - Bitcoin briefly fell below support but recovered to around $75,000, with over $850 million in bullish bets liquidated in a few hours, totaling nearly $2.5 billion in losses [7][8] - The crypto market experienced forced selling, with $510 million in leveraged positions wiped out, primarily affecting long trades [9]