Precious Metals News

Gold ended an otherwise dull year by surging from $1,650 to $1,820 rather abruptly. Will 2023 include another rapid rise in price? A slow, steady climb? About the only consensus from the forecasts I saw was that gold will rise in price. The overall bullishness of these forecasts varies, but not the result.

We’re in for a rough start to 2023. Still-hot inflation, high mortgage rates, and rising personal debt can slow down even the most stable economy. (Let alone a volatile, teetering and still-frothy economy.)

According to a recent poll by the Wall Street Journal and Impact Research, 65% of voters say the economy is headed in the wrong direction. Financial strain was affecting more than half of respondents, with more suffering on the way if things keep getting worse

Investor Peter Schiff and politician Nigel Farage recently shared their thoughts on why gold is scheduled to emerge as an outperformer in 2023, and why it’s already doing what it’s supposed to. Both gold’s 50-day and 200-day moving averages show it outperforming inflation

Gold’s whiplash couple of years have almost made everyone forget just how big of an outperformer it is. It has risen by 450% since 2000, having spent most of 1999 around $255. Still, even gold investors can perhaps fall prey to recency bias.

And Why the Media Is Desperately Hiding the Truth About the Economy? The idea that the bad news has ended is a dangerous illusion to support with your savings (“The Fed will pivot, rates will drop, stocks will surge and inflation will go away – better buy now!”).

We’ve been reporting on the likelihood that Social Security will suffer from a series of setbacks in the 2030s for quite some time. Now, the Social Security Trustees are beginning to confirm the fears we’ve expressed since 2019. In this year’s report, they summarized the main problem…

Numerous analysts have said that commodities crashing is a kind of necessary ingredient in the current market fiasco – but just as gold was seemingly left out of massive gains that other commodities experienced, it’s likely to be one of the very few commodities not falling in the kind of recessionary environment we’re anticipating.

Inflation is still orders of magnitude too high, and not declining appreciably. (Should CPI continue to come in 0.2% lower every month, we’re still looking at over two and a half years of prices rising faster than the Fed’s targeted rate.)

Gold’s $100+ rise to $1,760 from $1,650 last week wasn’t an intraday price move, but it feels so abrupt and rapid. And every time gold’s price surges like this, we expect there to be some crisis or calamity. After all, it was gold’s biggest weekly gain in 30 months. Remember what happened 30 months ago?

We are living through an economic crisis that will earn an entire chapter in introductory economics textbooks in the future… As of September, 63% of Americans were living paycheck to paycheck, according to a recent LendingClub report — near the 64% historic high hit in March.

Central banks bought a record amount of gold last quarter as they diversified foreign-currency reserves, with a large chunk of the purchases coming from as-yet unknown buyers. The official sector has consistently been one of the main pillars of support for gold prices for more than a decade.

Midterm elections are upon us, and Biden’s party seems poised for big losses. Inflation remains the #1 concern among American families. You can tell the President is a politician rather than an economist, because of his new idea for lowering fuel prices…