Economists predict the Fed will soon drop interest rates because the rate of inflation has slowed. Why the slowdown? One analyst is ready to celebrate lower inflation and lower rates as “the return of sound money.” What does that even mean? Step back with me, for a moment, to just four years ago…
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Copper is definitely the most important industrial metal out there. In the entire commodity sector, only crude oil is more widely used. This doesn’t mean that the only way in which its price can move is up (far from it), but it does indicate that this market is likely linked to multiple other markets – also to gold price.
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On an annual basis, global silver supply generated by mines seems to have run into a ceiling of about 1 billion ounces. Supply has essentially flat-lined over the past several years. At the same time, explosive growth in demand is driving widening projected supply deficits for physical silver.
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Gold demand in China has been strong this year, reflecting a broader movement of the yellow metal from the West to the East. But the Chinese aren’t just accumulating gold. They have also been hoarding silver in recent months. Is China deliberately driving up the price of silver to drain the West’s resources?
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What’s going on with housing? Home sales plunge to a record low – record high prices in many parts of the nation, combined with steep mortgage rates have led to a standoff between buyers and sellers. How much is a home really worth if no one can buy it?
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With spot gold prices at record highs, investors might expect that shares of precious metals mining companies are also trading at record highs. By and large, that is not the case. Mining stocks, as represented by the HUI Gold BUGS Index, are still underwater by more than 40% compared to their 2011 highs.
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Market participants are now extremely confident in the kickoff of an extended Fed rate-cutting campaign in September, especially in light of weak employment numbers. The stock market, however, continues to trade near its all-time highs — even as volatility increases. A correction would likely provide a new catalyst for gold
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There has been quite a bit of pushback against central bank digital currencies. But in the scramble to block CBDCs, some people seem to have forgotten that there is a more fundamental problem: government-issued paper fiat is the parent of a CBDC, and whether it is in physical or digital form, fiat currency isn’t real money.
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Remember how the Biden administration, the Fed, and corporate media kept saying the economy and job market were “strong”? Turns out that’s not true. Fed Chair Jerome Powell stepped up to the podium at Jackson Hole and announced the inflation fight was over – because the balance of economic risks has shifted. Here’s why they’re so worried…
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For the first time ever, a 400-ounce bar of gold is worth $1 million. We hit the $1 million gold bar milestone on Friday when the price of gold topped $2,500 for the first time. The price of gold is up about 22 percent on the year and has set several new records along the way.
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Gold has embarrassed quite a number of analysts in the past few days, rocketing to another all-time high to $2,509.71 on Friday, August 16. Just a week ago we reported that a number of experts were fully convinced gold might clear $2,500 this year, but probably wouldn’t until well into 2025.
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Industrial demand for silver has been surging in recent years. Solar panel manufacturers were largely behind the 11% jump in demand for 2023 versus the prior year. Forecasters predict another 9% jump this year. For silver investors, however, the future of demand from manufacturers may be even brighter than the recent past.
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Gold and silver have resumed their upward price movements again this week. And…buy the dip wins again!
Last week we wrote that the gold/ silver ratio was 89.45 and at that level silver usually makes an upward move. So far since that writing and as of this writing silver is up 3.3%. Gold is up 2.6%.
In a troubling echo of recent scandals involving other well-known precious metals firms, a Beverly Hills-based company, Oxford Gold Group, has reportedly ceased operations, leaving numerous investors fearing for their life savings. Investors have been left in a precarious position after moving substantial sums to Oxford Gold Group’s care.
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Rapidly increasing industrial and military demand for silver is depleting global inventories, and the rate may well accelerate quickly. Silver demand has outstripped supply for three straight years and the Silver Institute projects another market deficit this year.
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This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Saxo Bank says gold is facing biggest tailwind since the lockdowns, the normalization of the gold/silver ratio and Chinese citizens might finally get easy access to genuine gold.
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Many central banks are opting for a “stateless currency” – gold. That’s how a recent article published by Nikkei Asia put it, noting that “central banks are diversifying away from the dollar and yuan.” Central banks globally added a net 483 tons of gold through the first six months of this year, 5 percent above the record of 460 tons in H1 2023.
Full Article →Wow, what a week! Market whiplash was on the menu. Buy the dip in gold wins again! The stock indices dip on Monday was reminiscent of October 19, 1987. James Baker, the US Treasury Secretary at the time, was at odds over currency valuations and interest rates with our trading partners. Push came to shove the following week and world markets tanked
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Why the Fed Can’t Win – and We All Lose. Inflation has slowed, but the economy is stagnating. With an imminent recession ahead, the Fed’s stuck between a rock and a hard place. Here’s why we’re trapped with them… If rates start falling, that would certainly get speculators excited. But let’s examine the situation a little more closely.
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The idea is pretty simple. The U.S. Treasury could mint a $1 trillion platinum coin, deposit it at the Federal Reserve, and then the federal government could write checks against that asset. Voila! Budget problem solved. Now, it may sound a little bit like creating money out of thin air… That’s because it is.
Full Article →Recently, investors have realized that bad economic news is in fact bad news, and the global financial system is reeling. Here’s what happens next… Recessionary fears renew as sentiment shifts in favor of gold, is the world ill-prepared for a consumer-driven supply glut, and guess who’s been fudging the news about their gold purchases?
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I Thought Gold Was a Safe Haven! Why Did It Tank With Stocks? It was a bloody Monday in the stock market as analysts digested the dreary jobs report released Friday and suddenly discovered the rot in the economy’s foundation. So, What Happened to Gold?
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It’s no longer a question of whether the Federal Reserve will cut interest rates. It’s a question of how soon central bankers will cut and how big they will go. Last week’s ugly economic reports on manufacturing and employment helped trigger a mini-meltdown in the stock market – one that continues today.
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Central Bank and Over-the-Counter Buying Pushed Gold Demand to Record Levels in Q2. Gold demand was up 4 percent to 1,258 tons in the second quarter, the highest level on record since the World Gold Council started compiling data. Demand for gold was strong in the second quarter despite record gold prices.
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A new major currency will be hitting the world stage soon as BRICS – being the economic block of Brazil, Russia, India, China, South Africa, and a growing number of non-western nations – is coming closer to officially launching its collective tender. Details of the currency, which will be called The Unit, have been announced
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On July 26, the national debt blew past $35 trillion for the first time. We are now cursed with a debt of $35,001,278,179,208.67. This milestone will likely raise some eyebrows, but nobody will do anything about it. And sadly, most people don’t care.
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Bidenomics has pretty much played out as a disaster so far, especially for older Americans saving for their retirement. Now we might be able to see some light at the end of the tunnel. Unfortunately, now that Biden knows he won’t be the next president, the gloves are off. He can do whatever he wants, without much political pressure.
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Americans are questioning all sorts of government functions these days. For example, the majority of people, according to polls, have doubts as to whether U.S. elections are free and fair. Some believe the federal justice system has been weaponized and used against those in political opposition.
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