GOLD held little changed Wednesday morning ahead of the US Federal Reserve’s October decision on Dollar interest rates and QE asset purchases, trading at $1491 per ounce as world stock markets also moved sideways.
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Our chosen metaphor is the three-legged stool. Take one leg away, and the stool topples. In the case of silver, the outcome is likely to be a violent price rise of epic proportions.
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The wealth transfer from Main Street to Wall Street looks set to continue unchallenged. When the next bubble pops, Americans may again remember why a central bank which responds to every problem by printing vast sums and handing it to other bankers is a terrible idea.
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Gold, which “just sits there” retaining value over time, looks even more compelling if the alternative is holding cash which is guaranteed to depreciate.
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GOLD PRICES reclaimed last week’s closing level in Dollar terms Wednesday as tensions between Nato military alliance members the US and Turkey worsened over Syria and Iran, while new data showed US retail sales defying analyst forecasts
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Telling obvious lies with a straight face is part of Powell’s job description. He hopes to maintain order even though anyone who is paying attention knows something extraordinary is going on.
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An opinion poll from Donald Trump’s favored Fox News channel says the President faces strong US public backing for impeachment over allegedly asking Ukraine to investigate domestic rival Biden.
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They may not call it “Quantitative Easing,” but in September Federal Reserve officials launched a massive new campaign of liquidity injections that will expand their balance sheet by hundreds of billions of dollars. This was all prompted by trouble in the overnight lending “repo” market, where a lack of liquidity caused interest rates to spike to multiples of the Fed funds rate.
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One of Warren’s signature campaign promises is to impose a “wealth tax.” It would introduce a dangerous new concept into the tax code – namely that the government gets to tax not just capital gains on investments, but also the market value of investments and other household assets taken together.
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GOLD PRICES regained all or most of this week’s prior loss against all major currencies on Wednesday in London, trading up to $1488 per ounce for Dollar investors as world stock markets sank following New York’s plunge on the weakest US manufacturing data in a decade.
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Maybe you didn’t buy gold at $1,100, or $1,250 or $1,350. Perhaps you kept waiting for the arrival of a well-known analyst’s call of $700. (Whose tune has now changed to predicting $1,800!). What to do now?
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Gold and silver investors have been watching the Department of Justice investigation of criminal price rigging at JPMorgan Chase and other bullion banks carefully…
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JPMorgan Chase and other bullion banks spent most of a decade screwing clients and investors who were naive enough to expect a fair shake in the precious metals futures markets. It was a solid racket.
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Few investors are positioned to cope with the rising risk of war in the Middle East. Few are prepared for the prospect of persistently higher energy prices and higher inflation. Even fewer are taking steps to insulate their portfolios from future black swan events
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It’s the most widely anticipated recession in history. The recession hasn’t arrived yet – and may not do so anytime soon – but the mainstream media still can’t stop talking […]
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The bullion business is competitive, and buyers can easily evaluate dealer ask prices. In this internet age, people are more inclined and able to evaluate pricing than ever. It’s easy to compare one merchant’s offer with another.
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GOLD PRICES rose Monday morning as Washington and Beijing put additional tariffs on each other’s exports and new data said hedge funds increased their bullish betting on bullion to a new all-time high last week.
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GOLD PRICES held on track for the highest monthly finish in 6.5 years in Dollar terms in London on Friday, heading for a $100 per ounce gain this August.
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Just a few weeks ago, silver naysayers told us we’d have to wait months, or even years, before the market made a big move. Now they are eating their words! The white-hot metal surged past $18.50/oz this morning to reach its highest level in more than two years.
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The PRICE of gold bullion bars retreated but held near multi-year or record highs against most currencies in London trade Thursday, edging back as major government bonds also slipped while global stock markets rallied.
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GOLD BARS traded in London’s wholesale market slipped to 2-week lows against most major currencies except the Euro on Thursday, losing 1.5% for the week so far as longer-term interest rates rose from their recent all-time lows in the bond market on news that the US Federal Reserve is cautious about cutting interest rates further.
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GOLD PRICES steadied once more around $1500 per ounce in London trade Wednesday – a new 6-year high when reached earlier this month – as Western stock markets rallied and bond prices slipped after US President Trump said he’s considering fresh tax cuts to stimulate the world’s largest economy.
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GOLD PRICES edged back above $1500 per ounce in London trade Tuesday, recovering what was a new 6-year high just 2 weeks ago as world stock markets slipped from yesterday’s bounce and the US Dollar rose yet again on the currency market.
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Frank Holmes, CEO of US Global Investors, recently noted that a whopping 25% of all bonds sold globally now carry a negative yield. “Investors” are even buying some “junk” rated bonds which will repay the bearer less than purchase price upon maturity.
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GOLD PRICES rose on Wednesday as shrinking German economy outweighed the Trump tariff relief while yield curves inverted in the US & UK to spread recession fear. Spot gold increased by 1% to $1515 per ounce while European shares fell as Germany’s GDP shrank by 0.1% between April and June, fuelling fears of a recession for Europe’s largest economy.
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The World Silver Survey 2019 Review said that global silver demand hit a three-year high in 2018, surpassing more than one billion ounces, up 4% from 2017. At the same time, global silver mine production fell for the third straight year, dropping 2% in 2018 to 855.7 million ounces.
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Last Monday, the Treasury Department labeled China a “currency manipulator” for depressing the yuan’s exchange rate. It isn’t clear whether that designation will have anything more than a symbolic effect.
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The world is in the midst of one of the strangest asset bubbles of all time. Instead of being fueled by the hope of bigger and bigger gains, it is being driven by a resignation to incurring lower and lower… and ultimately negative, yields on capital.
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