Gold has all the potential to go unprecedentedly high. But silver will be gold on
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However according to the DB credit strategist, the curveball might be the US. As Deutsche Bank economist Robin Winkler has been pointing out, the vaccination rate in Austria (64%) is somewhat lower than the likes of Spain (79%), Italy (74%), France (69%), the UK (69%) and Germany (68%) but it is still higher than the US (58%).
Former IMF chief economist Kenneth Rogoff argues U.S. is on 'knife edge' with inflation.
The analysis last month and the month before showed that a breakout in the price of gold looked very close. It happened! Gold took out $1800 and then sliced through $1835 without much effort. After a big move, gold will typically rest and consolidate before moving on. This week, gold has looked more like a prisoner trapped in a box than a weary traveler looking to recharge.
Investor Ackman Says U.S. Facing 'Classic Bubble' Fueled by Fed's Easy Money PolicyNov 19, 2021 - 08:33:15 PST
Investor William Ackman, whose views are widely watched on Wall Street, said on Thursday that the U.S. central bank's ultra-easy monetary policy has created a "classic bubble" and that he thinks the Federal Reserve will need to tighten rates more quickly to fight inflation. “We are in a classic bubble which has been driven...
Nov 19, 2021 - 08:26:35 PST
By continuing with this legislation, Democrats are signaling that they would rather stoke the inflation flame so they can centralize more federal power even if they risk a painful intervention by the Federal Reserve. That will do little to assuage people's concern about government's growth.
Nov 19, 2021 - 08:06:26 PST
A regional Fed report on manufacturing activity paints a picture of more persistent inflation, with prices paid and received indexes near their all-time highs and producer expectations for the long-run inflation rate seeing a relatively sharp uptick.
Considering the Social Security Trustees anticipate a 22% benefit cut if there's no reform, it means that instead of collecting $1,500 per month in benefit, you would only receive $1,170. This would add up to a loss of $330 a month, or $3,960 a year. Full Story Here: https://money.usnews.com/money/retirement/social-security/articles/why-you-shouldnt-count-on-social-security
Stock Market Leverage Spikes, Margin Debt Up 42% YoY. Fed Warns about High LeverageNov 19, 2021 - 07:16:32 PST
“Potentially Destabilizing Outcome could emerge if elevated risk appetite among retail investors retreats rapidly.” But what the heck.
Now let's see what moderate Senate Democrats Joe Manchin and Kyrsten Sinema have to say about it.
The retail sales numbers for October came in even better than expected. The mainstream reported this as fantastic news — proof that the economy is booming. Meanwhile, Janet Yellen went on national TV and put a new spin on the transitory inflation narrative. In this week's Friday Gold Wrap, host Mike Maharrey explains why you shouldn't fall for all this mainstream and government spin.
The potential for inflation to keep moving even higher could propel gold to move above $1,900 an ounce, Staunovo added.
Fed Powell and President Biden are rolling the dice on runaway inflation and slow growth. Global supply-chain disruptions and cost pressures on businesses are likely to persist into 2023 but by merely phasing down purchases of Treasury and mortgage-backed securities, the Fed is still adding significant liquidity.
Fed to Hike in Q4 Next Year; Inflation to Remain Above Target Until 2024: Reuters PollNov 19, 2021 - 05:42:23 PST
The Federal Reserve will raise interest rates late next year, earlier than expected just a month ago, in a landmark shift from the emergency measures it took to backstop the U.S. economy during the COVID-19 pandemic, according to a Reuters poll. Most respondents said the Fed should move even sooner...
Nov 19, 2021 - 05:40:34 PST
Most importantly, the $367 billion figure could be significantly higher if not for a series of gimmicks written into the proposal intended to game the CBO's scoring system.
Nov 19, 2021 - 05:40:34 PST
Despite repeated lies by the administration that Build Back Better is fully paid for, Congressional Budget Office Analysis says that it isn't.
Japan unveiled a record $490 billion spending package on Friday to cushion the economic blow from the COVID-19 pandemic, bucking a global trend towards withdrawing crisis-mode stimulus measures and adding strains to its already tattered finances.
Bitcoin Falls Almost 20% Since Record as Crypto Bulls Retreat: BloombergNov 19, 2021 - 05:30:57 PST
Bitcoin has lost almost 20% in less than two weeks, proving that extreme volatility remains a hallmark of crypto investing.
Criminals Have Made Off with over $10 Billion in 'DeFi' Scams and Thefts This YearNov 19, 2021 - 05:24:36 PST
Overall losses caused by DeFi exploits have totaled $12 billion so far in 2021, according to a report from Elliptic.
Treasuries Rally as Europe Lockdown Concerns Spur Bid for Havens: BloombergNov 19, 2021 - 05:20:45 PST
The prospect of widespread Covid-19 lockdowns in Europe is casting a pall over markets again, driving gains in haven currencies and helping to spur an advance in Treasuries.
Traders are now contemplating a scenario of no rate hikes, just a week after betting on a 20-basis-point hike by December 2022. That comes after Austria said it will enter a nationwide lockdown from Monday, and Germany said it may consider a similar move as Europe seeks to get a handle on a resurgence of the pandemic.