Since 2001, Gold has outperformed any other mainstream asset class, although that’s not what you are likely to hear from the mainstream. While gold lagged in 2013 and 2015, for long term investors, the yellow metal is up 553% in USD terms and 360% in AUD.
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It’s worth remembering the Federal Reserve is not looking out for your wellbeing. They’re looking at statistics, not individuals. They see surges in food and energy prices as “normal volatility.” Chairman Powell doesn’t care it cost you nearly $100 to fill your gas tank.
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In a Capitol Hill hearing Powell was asked yesterday: “Would you say that the war in Ukraine is the primary driver of inflation in America?” Fed Chair Jerome Powell responded: “No. Inflation was high before, certainly before the war in Ukraine broke out.”
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Jim Cramer has been one of the most die-hard stock bulls since 1987, and rose to national fame in the late 1990s thanks to his frequent guest appearances on CNBC during the run-up of the dot-com boom. That’s why it’s so surprising that he recently recommended diversifying with gold.
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Yesterday we heard the RBA chief assure us “I don’t see a recession on the horizon”. As we have seen repeatedly since the GFC, central banks have deployed ‘words’ as much as rates and QE in an effort to control markets…
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How bad is the Consumer Sentiment Index? Try this: The index now is at “its lowest recorded value,” according to survey director Joanne Hsu. That’s right. The outlook of consumers, as measured by the Michigan consumer sentiment index, has never been worse. But that’s just one bad number…
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The U.S. economy appears headed for a hard landing. After months of ignoring the steadily growing inflation problem, the Federal Reserve is now using monetary blunt force to try to rein in rising prices.
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There are some analysts that think the only thing you need to look at to know where the price of gold and silver are going is the weekly Commitment of Traders report that presents all the positions of the big players on COMEX futures. It just got wildly bullish…
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The end is nigh! There should be no doubt about it now, as more horsemen of the Apocalypse are coming. The first was Pestilence. Two years ago, the COVID-19 pandemic plunged the world into a Great Lockdown and the deepest recession since the Great Depression.
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The explosion in retail demand for gold has made headlines, but retail investors aren’t the only ones steadily stockpiling the yellow metal. As doubts over currencies increase and as the world becomes increasingly polarized, nations are seeking to hedge their risks with the tried-and-true asset capable of doing so: gold.
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Another night of deep red on Wall Street last night and another night of gold and silver price strength in the face of it. Markets were rocked by the surprise rate hike of 50bps by the Swiss National Bank but more particularly the expected sell off of their mountain of US shares,
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It’s hard to deny that inflation is the most pressing economic issue for most of us these days, whether we’re saving for retirement or just filling up our tanks at the gas station. Ask anybody what’s on their minds, and you’ll get an earful. It doesn’t matter who you ask, liberals or conservatives. It doesn’t matter how you ask,
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The US Fed has a new yarn to spin you. After months and months of trying to convince the market that inflation was just ‘transitory’ despite all the data, Fed Chair Powell was last night, with a straight face, telling us: “There is no sign of a broader slowdown in the economy that I can see.”
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Treasury Secretary Admits She Was Wrong About Inflation: Treasury Secretary Janet Yellen said many times last year that inflation would be both mild and transitory. Now she’s admitting she got it wrong. And some observers say she continues to get it wrong.
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According to the Bureau of Labor Statistics, the CPI increased 1.0 percent in May, after rising 0.3 percent in April. This is a huge increase, especially since we are talking here about changes from month to month. The core CPI, which excludes energy and food prices, rose 0.6%, the same increase as in April.
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The Japanese yen is down to 135 yen to the dollar from 127 earlier this month as the Yen is starting to crack. Against the US dollar, this is the weakest yen in 24 years. The Japanese central bank issued currency tumbled along with Japanese bonds and their stock market yesterday.
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Senator Elizabeth Warren and President Joe Biden claim that inflation[i] is caused by greedy corporations. And they propose to solve this problem by making the corporations pay. Whether it’s extracting a “windfall profits” tax, crushing them under even more regulation, or attacking them with antitrust enforcement, the idea is the same.
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Friday’s Consumer Price Index Report sent shockwaves through financial markets. The 8.6% annual reading was yet another new multi-decade high – dealing a body blow to analysts who believed inflation pressures had peaked.
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Unless you live under a rock you will have seen the US CPI print on Friday night was a whopping 8.6%. That was higher than expected and a new 40 year high. Watching gold react live and thereafter was an interesting journey of market cognitive dissonance.
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There isn’t any doubt, when inflation accelerates like it is right now, the lower income class has their financial worlds turned upside down. After all, that’s what happens when most of the food that we eat and fuel we use every single day suddenly becomes 10% – 43% more expensive.
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The signs this tangled web of stagflationary high and increasingly sticky looking inflation, tumbling growth, and hawkish (tightening) central banks is fast approaching a second big capitulation in shares and property are growing.
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Experts from the World Bank finally admitted that the risk of stagflation is getting bigger and more real. For gold, however, that’s pretty good news. Better Late Than Never – First they ignore you, then they laugh at you, then they fight you, and finally you win.
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Six million British households are set to experience power cuts as the Government plans electricity rationing this winter. Government modelling of a ‘reasonable’ worst case scenario where Russia cuts off all gas supplies would see gas-fired power stations limited.
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As state legislatures clear out and head home for the summer, one reality has emerged: Sound money is a winning issue in the states. At a time of record-high inflation and geopolitical uncertainty across the globe, states are wisely taking steps to better enable citizens to acquire, sell, and/or use gold and silver.
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Old news now but let’s talk about the implications of that surprise 50bps RBA rate increase yesterday. That it happened on the same day the World Bank dramatically downgraded global growth and openly conceded stagflation, is a reality that cannot be ignored.
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The wave of investors buying physical gold and silver over the past two years has certainly impacted the markets. Retail demand for coins, rounds, and bars is now multiples of what it was prior to the COVID outbreak and the 2020 presidential election…
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The recipe for happiness is to see the bright side of even negative situations. Positive interest rates are rather bad news for gold. Here’s why. This is a huge change, perhaps a game-changer! What do I mean?
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We’ve suggested many times that an economic “storm could be brewing” so that you could start or continue preparing for it. Well, if Jamie Dimon (CEO of JP Morgan) is correct, it looks like we might have underestimated how bad things could get.
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