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Gold falls to two-year low, Ethereum completes merger

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On Thursday (September 15), the price of gold fell to its lowest level in two years, reaching US$1,665 per ounce.

The metal was hit hard by US economic data. Tuesday (September 13) brought the latest Consumer Price Index (CPI) readings., which shows that inflation rose by 0.1 percent monthly and 8.3 percent year-on-year in August. ​​​​​​While this is a year-on-year slowdown from the previous month, the month-over-month increase came after the CPI was flat from June to July.

Speaking ahead of the CPI data release, InTheMoneyStocks.com’s Garrett Sollaway told me that higher inflation would be a signal that the US Federal Reserve would need to raise interest rates by 75 basis points at next week’s meeting.


Before the CPI news, most market participants were debating whether the central bank would hike by 50 or 75 basis points, but now some experts believe it could go for a full interest rate hike.

“If you’re still seeing very high inflation and it’s not coming down, that’s probably a signal that the Fed should do 75 basis points at its next meeting,” Garrett Solloway, InTheMoneyStocks.com

Like ours discussed earlierChairman Jerome Powell emphasized that the Fed will do whatever it takes to rein in high prices.

We previously asked our followers on Twitter about their expectations for September’s rate hike, but with this new information, we raised the question again. About 60 percent of respondents expect 75 basis points, while 100 basis points follows with about 30 percent of the vote; less than 10 percent think 50 basis points are in the cards.

We’ll be asking another question on Twitter next week, so stay tuned @INN_resurs and follow me @Charlotte_McL to share your thoughts!

Ethereum merger sparks debate in ESG

We don’t often cover cryptocurrencies, but this week has been historic Ethereum Merger making headlines, we’re going to make a short foray into the sector.

For the uninitiated, Ethereum is a decentralized global software platform based on the blockchain. It is well known for working with the popular cryptocurrency Ether, but it also supports thousands of other decentralized applications.

“At its core, Ethereum is a decentralized global software platform powered by blockchain technology. It is most commonly known by its native cryptocurrency, Ether or ETH.” — Investapedia

Before the merger, Ethereum used a proof-of-work system to verify transactions; now that it has happened, he uses the proof of share method. There are many nuances to this transition, but what really catches the eye is this energy– savings benefits associated with proof of stake – according to Ethereum.orgEthereum’s energy consumption has been reduced by approximately 99.95 percent.

For investors, one of the key questions was what the merger would mean for Bitcoin’s competition with Ether — would its low energy consumption make Ether a more attractive cryptocurrency, perhaps attracting the interest of big, environmentally conscious companies? It’s too early to tell at this point, but it’s an area investors may want to keep an eye on.

“Bitcoin itself still uses a lot of energy. And who knows – in the future, perhaps they will also be tempted to do something similar. But it’s not under consideration yet.” Alex Tapscott, Ninepoint Partners

Want more YouTube content? Check out our YouTube playlist Home with TIN, which features interviews with resource space experts. If there’s anyone you’d like to see us interview, send us an email cmcleod@investingnews.com.

And don’t forget to follow us @INN_resurs for real-time updates!

Securities Disclosure: I, Charlotte McLeod, have no direct investment in any company mentioned in this article.

Editorial message: Investing News Network does not guarantee the accuracy or completeness of the information provided in the interviews it conducts. The opinions expressed in these interviews do not reflect the views of Investing News Network and do not constitute investment advice. All readers are encouraged to do their own checking.

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