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The Perth Mint’s sales of gold products in November jumped about 94% from the previous month to an eight-month peak, the refiner said on Monday. Sales of gold coins and minted bars soared to 115,872 ounces last month, the highest level since March this year, from 59,750 ounces in October, and were up nearly 38% from a year earlier.
A few months ago I talked about the upcoming changes to the way adoption of Basel III’s new bank reserve rules would alter the gold market. In short my conclusion was similar to that of Alistair MacLeod’s and others, that Basel III should collapse the egregious manipulation of the gold market through the use of using futures and unallocated gold as bank reserves.
Most emerging and developed market currencies have devalued significantly relative to the United States dollar in 2021 despite the Federal Reserve’s aggressive monetary policy. Furthermore, emerging economies that have benefitted from rising commodity prices have also seen their currencies weaken despite strong exports.
Behind Crypto's Ugly Weekend, 'Cascading' Selloffs and Dashed Hopes for BitcoinDec 6, 2021 - 05:39:36 PST
Fueled by uncertainty over the Federal Reserve inching toward tighter monetary policy in the face of surging inflation, and global fears over the new Omicron variant of COVID-19, the dramatic crash was super-charged by liquidations in the crypto derivatives market, market players say.
Central Bank Shouldn’t Control ‘Extraordinary’ Stimulus As More Officials Sound Inflation AlarmsDec 6, 2021 - 05:34:15 PST
Outgoing Federal Reserve Governor Randal K. Quarles said in his final speech on Thursday that he has “concerns” about the precedent set by the central bank’s massive pandemic monetary stimulus, while other Fed officials elsewhere ramped up warnings about higher inflation.
Commentary Last week, the Fed was handed an unexpected gift as first-time jobless claims fell to the lowest ...
The European Central Bank remains reluctant to abandon the view that the rise in inflation is temporary, as the Fed has done in the US. It is a difference of opinion between the central banks of the US and the European Union that is generating uncertainty in the market as to who is right, over a matter that affects Greece both through the course of retail and wholesale prices and also...
As cracks appear in U.S. equity markets, fixed-income ETFs are flashing warnings signs about what comes next.
Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of the Omicron variant of the coronavirus.
While they are “not that concerned about omicron as a major risk factor for equities,” the strategists see headwinds building elsewhere, after Federal Reserve Chairman Jerome Powell signaled the possible accelerated tapering of asset purchases. “Tapering is tightening for the markets and it will lead to lower valuations like it always does at this stage of any recovery...
Jerome Powell’s pivot toward a quicker withdrawal of stimulus paves the way for a more agile Federal Reserve in 2022, one that’s willing to raise interest rates faster than expected if inflation lingers or hold back if the pandemic worsens.
The Fed Faces Another Conundrum: The Bond Market Isn’t Following Its Lead: Barron'sDec 6, 2021 - 05:12:19 PST
Was Jerome Powell channeling Paul Volcker this past week by admitting that inflation has ceased being transitory? Or will he wind up being more like Alan Greenspan, facing a conundrum if the bond market fails to follow the Federal Reserve’s lead to higher interest rates?
The Reserve Bank of India will likely hold off on raising its key borrowing and lending rates on Wednesday, as it adopts a cautious tone amid the spread of the Omicron coronavirus variant, economists and market participants said. Fifty economists surveyed by Reuters in a Dec. 1-3 poll expect the RBI to hold its benchmark repo rate at 4.00%.
Vietnam to Pay Attention to Monetary Policy After U.S. Report: Central Bank OfficialDec 6, 2021 - 05:07:29 PST
Ha also said the central bank bought about $25 billion worth of dollars over the past two years to help inject dong into the banking system and boost the economy.
China cut the amount of cash most banks must hold in reserve, acting to counter the country’s economic slowdown in a move that puts the central bank on a different policy path than many of its peers.
PRIMARY SILVER MINING COMPANIES DISAPPEARING: And What It Cost To Produce Silver Q3 2021December 6, 2021
Yes, the Primary Silver Mining Companies are indeed disappearing. Why? Well, it seems that it has become too difficult to just focus a company on mines that mainly produce silver. So, many companies are diversifying away from primary silver mines to offset the increased profit and loss volatility...
Over the last several years, we've seen strong central bank gold-buying. The surge in gold purchases has primarily been driven by a handful of consistent players. But over the last several months, we've seen several new countries enter the market.The most recent is Ireland.
That was one weird jobs report.The labor department released the November employment data on Friday. The numbers simply don't make any sense. As one chief investment officer put it, "One of the weirdest reports I have ever seen.”One thing seems pretty certain. The labor market has not recovered, no matter how the powers that be spin the numbers.
GOLD, SILVER & ENERGY UPDATE DEC 5th: What Do The Long-Term Charts Say About The Price Trends?December 5, 2021
Investors should be aware of some important technical indicators for the metals. In this weekly update, I provide charts showing where the metals might be heading over the following months. However, the mid-longer-term fundamentals will only get better as Central Banks continue to prop up the markets...
Please note: the COTs report was published 12/3/2021 for the period ending 11/30/2021. “Managed Money” and “Hedge Funds” are used interchangeably.The Commitment of Traders analysis last month showed that selling had been exhausted and Hedge Funds were going long again. It highlighted the trouble gold had faced with $1800. After the October Jobs and Inflation data, Hedge Funds went big into the market driving prices solidly through $1800 before the market ran out of steam at $1,870.