Gold has all the potential to go unprecedentedly high. But silver will be gold on
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"Every nation, whether rich or poor, powerful or feeble, can at any hour once again adopt the gold standard."
The global jewelry demand during the quarter totaled 442.6 tonnes in Q3 this year, significantly higher by 33% from 332.9 tonnes during the prior year quarter.
Two impressive days for gold Central banks pulling back from hawkish talk has been a tailwind for gold in the back half of this week. That's led to an impressive rebound from $1760 to $1813. At today's high of $1815, gold traded at the best levels since September 6.
The metal has become overshadowed by crypto as an inflation hedge. Investors are ignoring the improvements in the gold mining industry’s management, balance sheet, and prospects.
Central Banks Cannot Hold Gold Down Forever Next Run Will Take It to New All-Time Highs: L. LepardNov 5, 2021 - 11:35:38 PDT
Gold was up over 50% in a two year window. It is down 15% in the past year. It is crazy and partly due to price suppression by the Central Banks, but they cannot hold it down forever and the next run will take it to new all time highs quickly in my opinion.
When silver is valued as money, its price can be determined by calculating one sixteenth of the price of gold. If the same mathematical formula is used with today’s base money supply and treasury’s 265 million ounces, the price of gold is estimated at 15k per ounce. Additionally, if the 15:1 gold to silver ratio is used, then the price of silver is estimated at 1k per ounce.
The FOMC next meets on December 14-15th. After that at the end of January so maybe the taper goes on for three months. Once the Fed stops the taper, or reverses and starts printing more money, the gold, silver and the mining stocks will do a moonshot.
There are a lot of balls in the air; balls known as inflation vs. deflation and most of all time frames. Treasury Secretary Yellen says spending bills will be anti-inflationary, lowering important costs
Speaking from Rome, she insisted that “what this package will do is lower some of the most important costs, what they pay for health care, for child care. It’s anti-inflationary in that sense as well.”
October jobs came in at 531k, finally beating expectations with strength shown across the board. Furthermore, August and September were both revised upwards by over 100k. Perhaps even more surprising is the early reaction in the gold/silver market. More on this below.
In 2021, the inflation tax will be as large if not larger than the revenues the federal government will collect from individual income taxes.
The 1970s brought low levels of economic growth. It is appropriate to look back upon those days today. In this issue of the Harwood Economic Review we are again looking back to the ‘70s, as the worrisome prospects of increasing costs of living amid slowing economic growth are emerging. And with...
Panicked Americans surrendered a lot of authority during the pandemic. Now they want their country back.
House Dems 'Scrambling' To Find Votes For Biden Agenda As Moderates Begin To BalkNov 5, 2021 - 08:09:23 PDT
House Democrats are, as the New York Times puts it, "scrambling to line up the votes needed to push through a $1.85 trillion social safety net, climate and tax bill," as moderate Democrats raise concerns over the cost after being "spooked by Tuesday's electoral drubbing."
100,450,000: More Than 100 Million Not in Labor Force for 14th Straight Month; No Job, Not LookingNov 5, 2021 - 07:52:45 PDT
The Labor Department's Bureau of Labor Statistics announced on Friday that 100,450,000 people in this country were not in the labor force in October, up 38,000 from the 100,412,000 in September.
September 2021 saw a total trade deficit of -$80.9B which is up a massive 11.2% over the Aug trade deficit of -$72.8B. This number crushed the previous record set in June of -$73.2B by over 10.5%.The new record was driven by Goods. The Goods deficit increased 10% MoM from $89.2B to $98.2B. The Services Surplus actually increased for the first time since May, increasing 4.8% from $16.4B to $17.2B.
After major central banks implemented their interest rate policies, the price of gold ended higher during the week as the attractiveness of the non-yielding metal increased, while the focus shifted to the upcoming US jobs report in late Friday
Nov 5, 2021 - 06:51:53 PDT
The Fed’s Folly Of Full Employment. The bad news? REAL average hourly earnings growth “rose” to -0.8141% meaning that inflation is outpacing wage growth (despite what Joe Biden said yesterday).
The Federal Reserve wrapped up its FOMC meeting on Wednesday and finally announced the much-anticipated QE taper. The Fed will cut its bond-buying program by about $15 billion a month. But so what? In this episode of the Friday Gold Wrap, host Mike Maharrey digs into the Fed announcement and raises some very important questions.
October Payrolls Soar To 531K, Smashing Expectations As Prior Months Revised Sharply HigherNov 5, 2021 - 05:40:39 PDT
After two months of dismal job reports, the BLS finally redeemed itself when moments ago it reported that in October the US gained some 531K jobs, well above the 450K consensus exp and above the 500K whisper number.
Student debt in the U.S. has ballooned to over $1.7 trillion since Congress first allowed college students to borrow from the government in 1958. This debt has varying effects on students, workers and the larger economy.