Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Oct 1, 2021 - 08:22:00 PDT
Venezuela unveils new banknotes on Friday to once again slash zeroes off its currency, battered by runaway inflation that has compounded the country's economic collapse and left many struggling to put food on the table.
Democrats engaged in a verbal war on Thursday, with progressives and centrists accusing one another of essentially sabotaging President Biden’s agenda and putting the party’s majorities in jeopardy.
Treasury Secretary Janet Yellen said Thursday she would just as soon see the power over debt limits taken away from Congress.
Stocks Pressured After Fitch Warns Debt Ceiling "Brinksmanship" Threatens US AAA RatingOct 1, 2021 - 08:02:30 PDT
In the statement, Fitch said that the failure of the latest efforts to suspend the U.S. federal government’s debt limit indicates that the current stand-off could be among the most protracted since 2013. Additionally, the rating agency believes that the debt limit will be raised or suspended in time to avert a default event, but if this were not done in a timely...
US Manufacturing Surveys Show Growth Mixed, Selling-Prices At Record HighOct 1, 2021 - 07:54:01 PDT
With both 'hard' and 'soft' data showing notable weakness recently (more the surveys catching down to hard data's reality), analysts expected the latest Manufacturing survey data (for September) to show slowing growth.
Inflation ran at a fresh 30-year high in August as supply chain disruptions and extraordinarily high demand fueled ongoing price pressures.
Gold prices steadied above the key $1,750 level on Friday, drawing support from a dip in U.S bond yields, though a resilient dollar still pressured the safe-haven metal.
U.S. Could Be Heading Into an ‘Era’ of High Inflation Over the Next Decade: MWOct 1, 2021 - 05:41:53 PDT
The U.S. may be heading into an “era” in which inflation remains significantly higher on average over the next decade, according to London-based research firm Capital Economics.
Powell Says Fed Faces ‘Difficult Trade-Off’ if Inflation Doesn’t Moderate: WSJOct 1, 2021 - 05:30:28 PDT
The U.S. inflation rate reached a 13-year high recently, triggering a debate about whether the country is entering an inflationary period similar to the 1970s. WSJ’s Jon Hilsenrath looks at what consumers can expect next.
China’s already fragile economic recovery from the pandemic is facing a new challenge -- a relentless rally in the U.S. dollar.
Long Dated Treasury Yields Post Biggest Quarterly Rise Since March As Inflation Worries IntensifyOct 1, 2021 - 05:16:41 PDT
Ten- and 30-year U.S. Treasury yields post their biggest quarterly rise since March as investors' concerns about inflation intensified and global central banks begin moving away from easy monetary policy settings.
Global bond investors are facing their worst year at this point in more than two decades after a selloff in September triggered by hawkish statements from central bankers including Federal Reserve Chair Jerome Powell.
Euro zone inflation hit a 13-year high last month and looks likely to jump higher still, further clouding the European Central Bank's benign view of the biggest price spike since before the global financial crisis. Prices rose predominantly on a surge in energy costs, mostly a reversal of the oil price crash that took place during the COVID-19 pandemic,...
Biden’s Nominee For Top Bank Regulator Wants To End Banking As We Know ItOct 1, 2021 - 05:09:27 PDT
President Biden’s pick for Comptroller of the Currency is quite the anti-capitalist. Cornell University law professor Saule Omarova, who proposed 'ending banking as we know it,' and that radical change to the system would make the institution 'more inclusive, efficient and stable,' has come under fire over her extreme views.
Three new reports from the Bank of International Settlements and seven different central banks find that while a groundbreaking innovation to monetary policy, CBDCs pose many opportunities and uncertainties.
No Deal: Infrastructure Vote Postponed After Progressives Refuse To BudgeOct 1, 2021 - 05:07:12 PDT
Update (2330ET): House Democrats called off a Thursday night vote on the $1.2 trillion infrastructure package after the Progressive Caucus was unconvinced by leadership's proposed 'bicameral framework' to move forward on the legislation.
Rare Gold Coins Minted Before the French Revolution Dug Out of Walls of French MansionSep 30, 2021 - 13:12:06 PDT
Hundreds of rare gold coins dug out of the walls of a remote French mansion fetched more than 1 million euros ($1.2m) at auction on Wednesday. Stonemasons discovered 239 pieces of gold, minted before the French Revolution, when they began renovating the property near Quimper in the western Brittany region, auctioneers Ivoire/Deloys said.
Gold Advances Amid Weaker Dollar, Disappointing U.S. Labor Data, Update: BloombergSep 30, 2021 - 13:08:38 PDT
Gold rose to the highest in a week as investors sought haven after a labor report pointed to an uneven recovery in the U.S. jobs market.
A prominent U.S. Senator just called the head of the nation’s central bank “dangerous.” Unfortunately, the true dangers of U.S. monetary and fiscal policy were lost on everyone involved.
Sep 30, 2021 - 12:53:27 PDT
Only a multi-millionaire like Powell would call it frustrating. Most US consumers would call it “devastating.”