It remains to be seen if, in fact, interest rates start declining next year after what has been a year and a half of the fastest rate-tightening cycle in 40 years. But expectations are growing that Federal Reserve officials will be making a more dovish tilt in their application of monetary policy beginning at some point in 2024
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A late summer rise in COVID cases is triggering calls by control freaks across the globe for reimposing mandates and restrictions on the public. Civil liberties advocates are warning that crippling new economic lockdowns could be coming down the pike. Public health officials are talking up widespread masking yet again
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Investment firm sounds off on gold investment in a commodities era, gold standard and why we might have been here before, and did you notice gold hit another ATH in the Japanese yen?
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The day before signing the Fiscal Responsibility Act into law, President Biden said, “We’re cutting spending and bringing deficits down.” In the merely three months since the Fiscal Responsibility Act became law, the gross national debt already has risen by another nearly $1.5 trillion, suggesting that perhaps this promise remains elusive
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Corporate media headlines like Biden’s Economy Is the Best Ever or The Bidenomics Success Story leave one big question unanswered… Who is better off? (Lest we forget, “the economy” isn’t a citizen.) Are you better off than you were thirty months, two and a half years ago?
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold’s price holding up even though interest rates keep rising, the real story of inflation, and gold remains a key asset for the new global economy.
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Making an investment in physical gold and silver is easy. Insuring these new valuables stored at home is more difficult. It may be outright impossible in larger amounts. The standard homeowner’s insurance policy provides little, if any, coverage for precious metal coins, rounds, and bars…
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You know how it goes. Inflation comes barreling out of the gate. The Fed starts pushing rates upward. At some point, the cost of money ultimately gets so high that the economy starts to break. Next, consumers stop spending, stores and manufacturers have less business, and workers get laid off. Last stop: recession.
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At the beginning of the pandemic panic, American households hunkered down, slashed spending and deposited their stimmie checks. Ever since, thanks to a combination of high inflation and “revenge spending,” consumer spending exploded to what Wolf Richter calls “drunken sailors partying hard” levels.
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On 2023-08-25, the expected price range for the Silver Continuous Futures was projected to have a low of 23.83 and a high of 24.86. This forecast was based partially on the previous day’s data, where the opening price was 24.39, the highest point reached was 24.42, the lowest point was 24.12, and the closing price was 24.19.
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The U.S. dollar has enjoyed global reserve currency status for nearly a century now. If BRICS nations have their way, that privileged status won’t last much longer. The weakness of the U.S. dollar is top of mind for all BRICS countries, and plenty outside of BRICS too.
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On 2023-08-23, the expected price range for the Gold Continuous Futures was projected to have a low of 1,913.28 and a high of 1,939.95. This forecast was based partially on the previous day’s data, where the opening price was 1,923.30, the highest point reached was 1,933.20, the lowest point was 1,917.50, and the closing price was 1,927.30.
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On 2023-08-22, the expected price range for the Gold Continuous Futures was projected to have a low of 1,906.20 and a high of 1,934.23. This forecast was based partially on the previous day’s data, where the opening price was 1,919.00, the highest point reached was 1,927.90, the lowest point was 1,913.60, and the closing price was 1,923.30.
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Can anyone dispute that this has been one of the more challenging cycles of chronic inflation and higher interest rates in our history? For the past 2½ years, year-over-year inflation has remained stubbornly above the Federal Reserve’s 2% target, at one point reaching north of 9% – it’s highest rate in more than 40 years
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On 2023-08-18, the expected price range for the Gold Continuous Futures was projected to have a low of 1,915.34 and a high of 1,946.65. This forecast was based partially on the previous day’s data, where the opening price was 1,923.00, the highest point reached was 1,933.50, the lowest point was 1,914.20, and the closing price was 1,920.60.
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On 2023-08-17, the expected price range for the Gold Continuous Futures was projected to have a low of 1,922.62 and a high of 1,951.59. This forecast was based partially on the previous day’s data, where the opening price was 1,932.80, the highest point reached was 1,938.20, the lowest point was 1,921.70, and the closing price was 1,923.00.
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With all eyes on BRICS as it prepares for a meeting at the end of August that could see new members joining, the question is looming in the back of future-minded investors: will BRICS develop its own currency in a bid to challenge the U.S. dollar as the world standard?
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: U.S. credit rating and de-dollarization, China boosts official gold reserves for 9th consecutive month, and South Africa’s gold mines are under heavy stress.
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There aren’t many bullion investors who haven’t thought about using their stash to buy groceries one day. Most of them bought metal in the first place because they know something important about history. Fiat currencies eventually die at the hands of irresponsible leaders, and it can happen fast.
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On 2023-08-14, the expected price range for the Gold Continuous Futures was projected to have a low of 1,937.51 and a high of 1,974.75. This forecast was based partially on the previous day’s data, where the opening price was 1,944.50, the highest point reached was 1,953.60, the lowest point was 1,944.00, and the closing price was 1,945.70
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When we get near the end of 2023 and news outlets begin rolling out their “year-in-review” retrospectives, there’s one story that’s sure to be featured prominently: the saga of the debt-ceiling standoff, including how close America came to defaulting on its federal debt for the first time in history.
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On 2023-08-10, the expected price range for the Gold Continuous Futures was projected to have a low of 1,945.49 and a high of 1,983.10. This forecast was based partially on the previous day’s data, where the opening price was 1,959.60, the highest point reached was 1,966.10, the lowest point was 1,947.20, and the closing price was 1,949.30.
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Poor planning practices at the U.S. Mint, including an apparent refusal to stockpile extra silver blanks during periods of market slack (such as now), have caused a steady erosion in the market share of this once extremely popular U.S. silver coin.
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Did you notice that for the HUI Index, GDXJ, and silver, 2023 is already a down year? In today’s analysis, I’ll dig into the former. Remember how I wrote in mid-July that after the weekly reversal, junior mining stocks were likely to move lower…
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On 2023-08-08, the expected price range for the Gold Continuous Futures was projected to have a low of 1,955.25 and a high of 1,999.57. This forecast was based partially on the previous day’s data, where the opening price was 1,978.60, the highest point reached was 1,980.20, the lowest point was 1,966.10, and the closing price was 1,971.40.
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On 2023-08-07, the expected price range for the Gold Continuous Futures was projected to have a low of 1,949.00 and a high of 1,994.79. This forecast was based partially on the previous day’s data, where the opening price was 1,971.10, the highest point reached was 1,984.20, the lowest point was 1,954.50, and the closing price was 1,978.20.
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Inflation is by no means finished. But it does seem to be dissipating. And as this chapter of inflation draws to a close, so, too, will one of the fastest cycles of interest-rate increases in four decades draw to a close, as well.
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Making gold price predictions is not an easy feat, but every now and then, we get blessed with a clear signal. And we saw one in July 2023. It’s visible on the monthly chart that features not only the key parts of the precious metals sector but also one of the key gold price’s drivers – the USD Index.
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