The United States enjoys the privilege of issuing the world’s reserve currency. But it increasingly uses that privilege as a hammer to shape foreign policy. Could Americans end up feeling the blows from that hammer? Economist and the author of Currency Wars Jim Rickards thinks that’s already happening.
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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 sets new all-time-high closing price as analysts wonder what’s next, are our national gold reserves finally coming into question? and silver as a symbol of Poland’s strength. This week’s moves will be in the limelight…
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Silver demand is expected to hit 1.2 billion ounces this year. That would rank as the second-highest annual silver demand on record. Record industrial demand for silver is expected to drive overall silver offtake this year, according to an article in the latest edition of the Silver Institute’s Silver News.
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Household debt in America now stands at a record $17.5 million. Economist says rising debt delinquencies could turn mild downturn into a major recession. When you hear the term “economic uncertainty,” what comes to mind? If you’re like many people, you probably think of things such as…
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During a recent interview aired on 60 Minutes, the Fed chairman said it was time to have an “adult conversation” about the national debt and conceded that the U.S. government is on “an unsustainable fiscal path.” Powell said, “We’re effectively borrowing from future generations,” and that it is time for us to put a priority on “fiscal sustainability.
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Miners declined as expected, but today’s action is so far in gold and stocks. Both will impact miners. Let’s start with gold. From the daily point of view, we just saw another move toward the 61.8% Fibonacci retracement based on the recent decline. This level was not touched, let alone broken. Today’s intraday high wasn’t above the Friday’s intraday high.
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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: Ronald Stoeferle explains why gold has been an outperforming asset worldwide, how the U.S. will rein in budget deficits with your money and are European silver investors finally getting a break?
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According to the latest Consumer Price Index (CPI) data, prices rose by 3.1 percent over the last year. Based on my own experience at my local shopping center, that seems low. And it may well be. There are reasons to doubt the accuracy of CPI data. According to a recent report released by the Bureau of Labor Statistics (BLS) weak response rates…
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Leading investment banks forecast gold heading well into record territory, with Citi stating De-dollarization could be key to $3,000 gold in 2025. Those familiar with the movement of precious metals prices likely are familiar with gold’s historical interest-rate sensitivity and how changes in rates can impact prices…
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The commercial real estate market continues to deteriorate in this high-interest rate environment, putting stress on the banking system. The dollar amount of bad commercial real estate loans has ballooned beyond the loss reserves held by big banks to cover them as more and more borrowers struggle to keep up with payments.
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Nvidia surprised positively and it soared in overnight trading as well as in the early market trading. And while it managed to take stocks higher, it didn’t take gold higher. The S&P 500 index futures are up, and they moved close to their previous highs without breaking them. In other words, it’s “here we go again” on the stock market.
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What the Tsunami of Corporate Layoffs Really Means. There are so many signals that point to the possibility of entering a near-term recession, they are hard to ignore. But let’s look at the economic situation in this country from another perspective: What if the United States is already mired in a long recession that might have started earlier?
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Assembly Bill 29, primarily sponsored by Rep. Shae Sortwell, just passed out of the State Assembly by a bipartisan vote of 86-12. This popular bill is cosponsored by almost two dozen other legislators and enjoys wide support – and would align Wisconsin with the policies of 43 other U.S. states.
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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: The gold-to-silver ratio makes silver look incredibly attractive right now, China’s motives for under-reporting its gold reserves and gold has become America’s most popular investment.
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Chinese gold demand kicked off 2024 with a bang. Wholesale gold demand set a record in January. Meanwhile, assets under management by Chinese gold ETFs reached an all-time high. China ranks as the world’s top gold consumer, and Chinese demand has a significant impact on the global gold market.
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The bank bailout program established by the Federal Reserve in the wake of last spring’s banking crisis is scheduled to shut down on March 11. Then what? There are a lot more questions than answers. For instance, will the Fed blink? And if it doesn’t, how will the end of the bailout ripple through the financial system?
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Recently, we’ve spent time examining the phenomenon – probably not too strong a word – of gold staying strong in spite of interest rates that have not merely risen, but soared. From March 2022 through July 2023, the Federal Reserve hiked America’s benchmark interest rate, the federal funds rate, 11 times, a total of 525 basis points.
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The total amount of publicly held debt in the United States is nearing $34 trillion. The historic and unsustainable pace that it has piled up over the last decade is insane. In addition, GDP can’t keep up with the pace that debt keeps piling up. Expressed officially as the ratio of Public Debt to GDP, that sits at a record 120% – and it’s still rising.
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It’s a well-known fact by now that the Social Security Trust Fund is in big trouble. It’s also a fact that without a reasonable solution by 2034, retirees will face a serious reduction (20-25%) to their monthly Social Security benefit. The last time the trust fund was depleted like this was back in 1982.
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The federal government’s budget deficit was “only” $21.93 billion in January. That was a significant improvement over the $129 billion shortfall recorded in December. The smaller deficit was primarily due to increased government receipts thanks to a big drop in tax refunds. But the Biden administration is still spending like a drunken sailor.
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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: How a slight rebalancing to savings could shake the gold market, more bullish forecasts for gold and gold’s movement other currencies hints at its future trajectory. Will there be enough gold to go around?
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Russia has reportedly used gold to evade currency restrictions put in place as part of economic sanctions levied in the wake of the invasion of Ukraine. Under the sanction regime, Russian banks are prohibited from importing dollars or euros into the country, enforced by locking Russia out of the SWIFT network
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There really is no way to sugarcoat the current debt trend. It’s already insane (and it’s going to get worse) Following is even more data that further confirms the fact that the total debt load for the American economy is unsustainable. The debt also appears to have caught the attention of central bankers (in a meaningful way this time).
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With gold prices skyrocketing in their local currency, Egyptians are turning to silver to protect their savings from skyrocketing inflation. According to a Reuters report, surging prices and a weakening currency have driven the price of gold to record high levels. In order to protect their wealth, many are turning to silver as a more affordable alternative.
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In March 2023, the world became reacquainted with a measure of the anxiety felt during the financial crisis, when the global banking system destabilized. Last spring, in a span of less than eight weeks, four regional U.S. banks closed when fast-rising interest rates sharply reduced the value of the U.S. Treasury securities into which they’d heavily invested…
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What a beautiful and profitable breakdown in junior miners! And that’s not all! This part of the bigger decline is just starting, so junior miners still have some room to fall. Gold, silver, and the S&P 500 futures are calm in today’s pre-market trading, but don’t let that fool you – the market is about to slide once again.
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The Federal Reserve’s most recent policy statement came with a curious omission. Fed officials removed language from previous statements that proclaimed “the U.S. banking system is sound and resilient.”
That begs the question: Is the banking system no longer sound and resilient?
This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Global de-dollarization as a major driver of gold prices, gold demand statistics for 2023, and how silver is becoming more industrial by the day. A safer safe haven: The U.S. dollar is losing ground to gold…
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