Goldman Sachs has said Gold is underpriced at $1,800 and ready to move back to $2,000. Even though gold met many bullish expectations last week by consistently closing above $1,800, Goldman Sachs analyst Mikhail Sprogis thinks the move could be the start of a much larger uptrend.
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There is sometimes a tendency to confuse ends and means. For example, in traveling through an airport there is extensive inspection of passengers. Before you are allowed to board an airplane, you must go through a process that is intrusive and increasingly invasive.
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“We don’t know who’s using a $100 bill today and we don’t know who’s using a 1,000 peso bill today. The key difference with the CBDC is the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability…
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On June 24, the Champlain Towers South condominium building fell, killing at least 24 people. The collapse of this building provides a surprising number of insights into the collapse of a currency. The following discussion is based on information that is emerging about the incident.
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With negative real interest rates and the ongoing drop in the dollar’s buying power, it’s becoming more and more difficult to hold onto one’s savings (let alone make sound investments). The well-known stockpiling of gold bullion by nations around the world, especially Russia and China, offers hints of a possible solution
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The U.S. economy is at a fork in the road – one route leads to the return of market fundamentals and sane stock valuations, at the cost of a historic market correction. The other route leads to runaway hyperinflation that eats up the debt almost as fast as it devours the dollar’s buying power.
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CIBC: Gold is still going towards $2,000 and silver to $3. Despite the selloff that caused gold to drop more than 5% within a week, Canadian bank CIBC still optimistic on both gold and silver’s prospects over next few years. While the bank downgraded their average 2021 forecast for gold to $1,925, they expect metal to average $2,100 in 2022.
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Recent collapses of bridges and a Florida condo building highlight what can go wrong when basic structural and foundational elements are neglected and allowed to deteriorate. As corrosion and cracking spread, they may go little noticed at first, with repairs and upgrades put off.
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Transitory Inflation Takes Hold of the Economy – How Long Will It Last? Just a couple of weeks ago, Bloomberg reported that Federal Reserve Chairman Jerome Powell sold investors on the idea that rising inflation wasn’t going to last. Officially, as of May 2021, inflation had risen 5%, the highest since August 2008.
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Last week the spot price of gold declined 6%, which was its steepest drop since March 2020, when news of the extent of the COVID-19 pandemic caused global markets, including gold, to get hammered. The main reason was comments from Federal Reserve Chairman Jerome Powell…
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Is the entire financial system currently in a massive bubble? That is the question that astute investors may now be asking. According to Nouriel Roubini, CEO of Roubini Macro Associates and professor at NYU Stern School of Business, now is the time to be overweight gold as more bubbles pop up.
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Social Security Under Pressure Thanks to These 3 Economic Trends: The Social Security Administration (SSA) is in enough trouble on its own. But now, there are three big cultural and economic forces that appear to be taking their toll on the program.
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Gold to Test Major Uptrend; Fed to Remain Behind Inflation Curve. Battered gold and silver markets face a test of their bull market prospects. For gold, a bullish trendline has been in force since late 2018
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The economic shock of the COVID-19 pandemic has forced many retirement savers to reevaluate their plans. That isn’t surprising, because the global economy tanked in late February, and that’s bound to have financial consequences.
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The halfway point of the year is quickly approaching. Dwindling confidence and concern over the direction of the country along with rising inflation expectations continue to drive strong demand for physical gold and silver…
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The last time the Fed was noticeably hawkish was back in August 2018. Starting October 3 of that year, the market imploded (you might remember the Dow losing 5,000 points). Now there could be a “second verse same as the first.”
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GOLD and SILVER split on Friday, with the yellow metal failing yet again to hold above $1900 per ounce as its more industrially-useful cousin set its highest weekly close since last August’s 7-year high.
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Based on benchmark stock market index’s recent performance, all seems well and good for risk assets – but underneath the surface, however, warning signs are flashing for investors in financial markets. Over the past several weeks, significant selloffs have occurred that may serve as leading indicators of trouble ahead.
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Gold price holds onto bullish level as markets brace for data reports. After breaking out of its months-long trading range and heading off towards $1,900, many analysts believe that the bullish moves in the gold market are just beginning…
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Taper talk from the Federal Reserve is back in focus. But for now, it’s all talk and no action. Last week, former New York Fed President William Dudley said the central bank will begin the process of tapering – winding down its monthly asset purchases – by year end.
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One source revealed that as much as 1 million ounces of gold recently left the BoE’s vaults at a premium between 30 to 40 cents, a figure that normally doesn’t exceed 20 cents “during normal circumstances.” Elevated central bank buying seems to indicate some skepticism about economic recovery.
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The typical investor buys stocks for the long haul. It might be because financial advisors are just as unquestioning, knowing they are rarely criticized for following the herd. Sadly, mainstream advisors still snicker whenever a client brings up gold – even though the naysayers have been wrong about gold for 20 years.
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Heading into Memorial Day weekend, American motorists will see the highest prices at the pump since 2014, according to the AAA. Gas prices now average $3.04 a gallon nationally – reflecting a jump of more than $1.00 compared to the same time last year.
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Unless they secure a requested extension, European banks will have to comply with Net Stable Funding Requirements by the end of June. Along with other effects, these regulations could make trading in the gold and silver derivatives markets less profitable to them.
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As The Daily Reckoning contributor Jim Rickards notes on Zero Hedge, the worst-case scenario for gold appears to be running its course. It’s often stated that the stock market is gold’s primary competitor, but the inverse correlation between the markets has been absent for some years.
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This week has been truly brutal for the entire cryptocurrency sector, with the prices of major currencies like Bitcoin and Ethereum crashing at least 30%. The overall sector has shed trillions of dollars in value. The recent carnage for holders of digital currencies could be due to many factors including profit taking spurred by Elon Musk.
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The Pros and Cons of Diversifying Your Retirement Portfolio With Proof Coins: Even today less than honest bullion dealers are regularly sanctioned by the government for taking advantage of naive investors and selling proof coins far above market value…
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These “Fedcoins,” according to The Economist, “are a new incarnation of money. They promise to make finance work better but also to shift power from individuals to the state, alter geopolitics and change how capital is allocated.” But perhaps more importantly, “Fedcoins” could signal the beginning of an abandonment of the U.S. dollar
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