Gold prices remained steady on Monday’s opening bell as the U.S. dollar edged off to its nine-month low it touched on the previous week due to indications of monetary policy normalization by a number of central banks. This is just ahead of Independence Day holiday in the United States.

The U.S. dollar hovered to its decline for nine months versus its major opposing currencies as the session on the day begins. However, it’s still unsteady due to projections that central banks in Europe were slightly fading from accommodative monetary stimulus supported rivals like the British pound and euro.

According to government figures released last Friday, sales of U.S. Mint American Eagle gold coins in the first and second quarter of this year were considered the weakest for this period in over 10 years. Meanwhile sales of silver in the period were the lowest since 2008.

Looking on prices, U.S. gold futures dropped about 0.1 percent to settle at $1,240.80 an ounce for its August delivery and Spot gold traded close to the flat line and finishes at $1,241.04 an ounce. Spot recently experienced its first monthly decline this 2017 as it fell more than 2 percent last month.

Sibanye Gold, a producer of precious metals in South Africa, said last Friday that it would continue production this Monday at its strike-hit Cooke mine. The prior mine has been suffering from declines between production disruptions and illegal mining.

The biggest gold-backed exchange-traded fund in the world, the SPDR Gold Trust, was 0.14 percent lower to 852.50 tonnes last Friday, lower compared to the previous day with 853.68 tonnes.

The price of gold was pulled down by a much stronger U.S. dollar on Tuesday. Global investors are currently focusing on shifting their bets as the Fed is expected to lift interest rates sooner and signal three more this 2018.

U.S. gold futures fell as low as 0.2 percent to settle at $1,315.80 an ounce for its April delivery. Meanwhile, spot gold edged down more than 0.1 percent to finish at $1,315.86 an ounce. In relation to the yellow metal’s drop, the U.S. dollar index jumped by 0.1 percent at 89.883 against its major opposing currencies. The index rebounded on Tuesday as it was 0.5 percent lower on the previous day.

It is already given that a stronger dollar is not good with the yellow metal because it will make the non-yielding bullion too expensive for holders outside the United States. This will, therefore, weaken the global demand. click here to read about Gold futures still solid as dollar eases off a nine-month low.

Outside the market, the Trump administration is highly forecasted yo unveil more than $60 billion in fresh tariffs on imports in China this coming Friday. According to two officials briefed on the issue, Trump is targeting telecommunications, technology, and intellectual property.

The biggest exchange-traded fund that is backed with gold SPDR Gold Trust said that its holding increased about 1.26 percent to 850.84 tons on the previous day, higher than Friday’s 840.22 tons. According to figures from IMF, Russia has also lifted their holding by 22.80 tons to 1,880.53 tons for the month of February.

In the wake of economic fluctuations, it’s natural to reflect on past experiences and consider what lessons can be gleaned from challenging times. The Great Recession of 2008 left an indelible mark on individuals, businesses, and economies worldwide. While its impacts were undoubtedly profound and often painful, there are aspects of that period that some may find themselves unexpectedly nostalgic for. In this article, we explore what individuals might miss about the recession, examining both its hardships and the unexpected silver linings.

A Shift in Perspective

For many, the recession served as a harsh awakening, forcing individuals to reevaluate their priorities and reconsider what truly matters in life. The relentless pursuit of material wealth was replaced, albeit temporarily, with a newfound appreciation for simplicity and resilience. In the face of adversity, communities came together, emphasizing the importance of solidarity and support networks. click here to read about 5 Super Simple Ways to Automate Your Savings.

Financial Prudence

One of the most significant consequences of the recession was a widespread reassessment of spending habits and financial planning. Suddenly, frivolous expenditures gave way to a newfound sense of thriftiness and resourcefulness. People became more conscientious about budgeting, saving, and investing wisely, recognizing the importance of financial security in an uncertain world.

Resilience and Adaptability

In times of economic turmoil, individuals are often forced to adapt to rapidly changing circumstances. The recession demanded resilience, challenging people to navigate layoffs, foreclosures, and dwindling retirement accounts with fortitude and grace. Yet, it was precisely this resilience that allowed many to emerge from the downturn stronger and more resilient than before.

A Return to Basics

In an era defined by excess and consumerism, the recession prompted a return to basics. The simple pleasures of life – spending time with loved ones, enjoying nature, and pursuing hobbies – took precedence over material possessions. As the relentless pursuit of growth and productivity ground to a halt, individuals rediscovered the value of slowing down and savoring the present moment.

Conclusion

While the memories of the Great Recession may still evoke feelings of anxiety and uncertainty for many, it’s essential to recognize that adversity often brings with it unexpected blessings. In the midst of hardship, individuals discovered reserves of strength and resilience they never knew they possessed. As we navigate the complexities of today’s economic landscape, let us not forget the lessons learned from the past – lessons of prudence, resilience, and the enduring power of the human spirit.

As we move forward, let us carry these lessons with us, drawing inspiration from the challenges we have overcome and the resilience we have demonstrated. For it is in the crucible of adversity that our true character is revealed, and it is through our shared experiences that we find strength and solidarity.

Irregular income can be a real roller coaster! Especially if your are self-employed. I’ll admit, that uneven paycheck ride sickened me a few times in the early years of running my business.

If you’re self-employed then you likely have irregular income. Let’s face it, budgeting sucks. So here are a few creative ideas on budgeting when some moths are flush while others are lean.

1. Open 2 bank accounts. One of these accounts will be for paying your every day bills, let’s call it the Spending Account. It’s the second account that will come in handy. Deposit all your earnings in the second account called the Overhead Account. Then schedule regular transfers to your Spending Account once per month. That will smooth out the irregular checks and keep you honest.

2. Estimate a salary and stick to it. This can be a challenge. You may not have any idea what you’ll make in the coming year. So, estimate conservatively until you have a track record to go by. Once you do have the estimate, then divide by twelve. Transfer that amount monthly to your Spending Account. I personally prefer paying myself every 12 months because that’s the cycle for your bills like utilities, rent, etc. If you prefer you can pay yourself bi-weekly or even weekly, you’ll need to divide your annual amount by 26 or 52 respectively.

3. Protect yourself from the big dip on the roller coaster. There are going to be times, especially if you receive commissions, that you don’t sell anything or earn a check at all. During these periods the hope is that you stashed enough in the Overhead Account to cover that month. If you didn’t you’ll just have to borrow from savings. I learned about the Overhead Account from The Money Book by Joseph D’Agnese and Denise Kernan. You can read my review here.

4. Here’s what to do when you have some extra green. Self-employment can be feast or famine. That’s why these strategies make so much sense. When you are in feast mode, your paycheck are exceeding what you need to run the business and pay your bills, sock some away. If you are saving excess funds in the Overhead account, when the lean days hit, you’ll have that money to smooth out cash flow.