World Bank sees gold “playing critical role in the financial system.” as asset managers, central banks look to hedge against instability with gold. The guide states gold’s relevance as a global monetary asset is a lasting one, listing recent economic and geopolitical challenges proving gold’s validity as a store of value during periods of uncertainty
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Many American founders warned us about paper money. Thomas Paine summed it up best: “The evils of paper money have no end.” In an 1814 letter to Thomas Cooper, Thomas Jefferson was prophetic. “Every thing predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper.”
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Gold is rallying regardless of what’s happening in other markets. And while there are signs of a top, gold appears to simply not care about them at the moment. In particular, the gold price keeps on forming daily reversal candlesticks, which “should” be tops, but they likely aren’t.
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Gold broke another intraday record on Monday. This continues the gold bull run that has been ongoing for several weeks. But there is something else happening that’s quite unusual. Treasury bond yields are also rising. As gold was setting records on Monday, yields on the long end of the Treasury curve were also rising.
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: A World Bank insider explains central banks’ gold buying surge; yet another all-time high for gold’s price, , and just how strange is the lack of price action in silver? Exactly why are central banks de-dollarizing with gold?
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Even after all this country has seen in recent years, some still consider those stocking up on food, ammo, bullion, and other emergency essentials as a little bit nuts. Despite some close brushes with disaster, including the 2008 financial crisis and disruptions associated with COVID-19, it somehow seems hard to believe the nation’s critical systems are at risk.
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Gold’s moving higher and… the USD Index is moving higher as well, which one is faking it? In the recent past I commented on gold’s performance as being similar to what we saw in 2011. Today’s move higher makes the similarity less clear, but still intact.
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There is a big disconnect between what the White House would like you to believe about the economy, and how most Americans are feeling about it right now. Some members of the Federal Reserve board, including Chairman Powell, tried to listen to the concerns that a handful of panelists had, and the result wasn’t surprising… The Fed got an earful
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Holding fiat currency is risky business and that’s not going to change any time soon. Currency risk is one of the factors driving the recent rally in gold and silver. It’s no coincidence that the recent gold and silver rally started as the U.S. ramped up threats to seize Russian dollar assets. However, using the dollar as a foreign policy hammer is just…
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Economics once again defied the will of politicians — this time in Minneapolis, Minnesota. The Minneapolis City Council wanted to help out Uber and Lyft drivers, so it passed an ordinance setting a minimum wage for drive-share drivers where companies such as Uber and Lyft must now pay their drivers a minimum of $1.40 per mile
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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: Gold price shatters $2,200 to set new record – what’s next after yet another all-time-high gold price?; lessons from Turkey’s financial crisis, and China’s dramatic influence on the gold market.
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You’ll often hear precious metals investors talk about the gold-silver ratio. So, what is it, and why does it matter? The gold-silver ratio tells you how many ounces of silver it takes to buy one ounce of gold given the current spot price of both metals. In other words, it tells you the price of gold in ounces of silver.
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By now, you likely are familiar with gold’s recent march well into record territory. Since the end of February, gold has appreciated 6.5% to more than $2,150 per ounce (as of March 21). Analysts say that one reason for gold’s recent upward trend has been talk of falling interest rates, which certainly makes sense.
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Happy Birthday to us as we celebrate our 10th anniversary since first publishing way back in 2014! It’s hard to believe it’s been ten years since we launched the site. It seems like both yesterday and forever ago. Judging by how much Mac and I have aged during the long process of building the site up, it sometimes feels we are Sisyphus of legend…
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Gold price held up well yesterday. But will it be able to handle the USD Index’s breakout? The yellow metal moved back to the Dec. 2023 high and bounced from it, and today, it just did the same thing. Yesterday’s price action looked quite promising, as the verification of the breakout would indeed be a bullish thing.
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The Fed created the Bank Term Funding Program (BTFP) after the collapse of Silicon Valley Bank and Signature Bank last March. The program was set up so banks could easily access cash “to help assure banks have the ability to meet the needs of all their depositors.” The bailout was a sweetheart deal for banks
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Another week of sitting back and seeing how far analysts are willing to push today’s gold price predictions for the year. We were here last week at $2,080, and $2,150 is the latest pit stop in the race to $3,000. Right now, sky-high forecasts are abundant.
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Global silver demand in 2024 projected to be second highest on record – some analysts project a 20% price increase in silver this year. Through the first two weeks of March, gold surged into record territory, jumping roughly 6% to well over $2,100 per ounce. In the same period silver has risen even higher on a percentage basis, climbing nearly 12%
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Gold has garnered a lot of attention in the last few weeks with its record-setting run. Since the end of February, gold is up nearly 7 percent and set an all-time record of $2,195 an ounce along the way. This is really good news for silver. That wasn’t a typo. I meant silver. I’ve been arguing that silver is drastically underpriced for quite a while.
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Gold and gold miners moved higher yesterday, turned a few heads, and now they’re back down. What’s next? Yesterday might have seemed like a big deal, but… If you read my weekend Alert, you knew that seeing a double-top here was one of the possibilities that would NOT change the outlook. After all that’s how gold topped in 2011.
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The last few years have featured heavy doses of economic turmoil for most older Americans trying to save for their retirement. That turmoil includes persistent (possibly long term?) inflation, pandemic panic, and even the potential for a near-term recession. So let’s take a moment to cover a bit of good news.
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This is a preview of our annual Gold Outlook Report. Every year we take an in-depth look at the market dynamics and drivers giving our predictions for gold and silver prices over the coming year. The talking heads are talking about recession, unemployment, and inflation, same as they’ve always done, though now perhaps with a bit more urgency.
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Price inflation is like the gum on the bottom of your shoe that you just can’t scrape off. Or maybe it’s like a movie theater floor after a big premiere. It’s sticky. And that’s a problem. The CPI data for February wasn’t anything to panic about. But nobody is throwing a party either.
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This week, Your News to Know rounds up the latest top stories involving precious metals and the economy. Stories include: Gold notches another all-time high over $2,180, analysts are acknowledging that gold’s surging price confuses them and understanding bitcoin vs. gold comparisons.
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One of the more curious mysteries of the Biden years is the disconnect between what looks like solid economic data and how Americans actually are feeling about the economy. The government’s headline unemployment rate may be the most notable example of the data at issue.
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Can you borrow your way to prosperity? American consumers are certainly giving it the old college try. Consumer debt surged once again in January, rising by $19.5 billion, according to the latest data from the Federal Reserve. On an annual basis, consumer debt rose by 4.7 percent to a record $5.04 trillion. The jump was double the projection.
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Central banks took up where they left off in 2023, adding more gold to their stockpiles to kick off the new year. Globally, central banks increased their gold reserves by a net 39 tons in January, according to the latest data compiled by the World Gold Council. There were no notable sellers in January.
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Forecasting gold prices is not easy, but right now it seems that we have quite many factors aligned. The market buys on rumors and sells on facts – even if they are positive. But if the facts are negative… Then the market sells substantially, and the price declines significantly. For now, the market continues to exaggerate its reaction…
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