Gold has all the potential to go unprecedentedly high. But silver will be gold on
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nvestors also note that prices for precious metals are expected to be choppy as investors await clarity from the U.S. Federal Reserve next week on its plans for tapering bond purchases that provided liquidity to markets during the worst of the pandemic back in the spring of 2020.
Powell Orders Review Of Fed Ethics Rules After Trading Disclosures Spark Mass OutrageSep 16, 2021 - 07:02:02 PDT
Cleraly sensing just how drastic this threat to the Fed's credbility has become, Fed Chairman Powell has Thursday directed board staff to take a fresh and comprehensive look at the ethics rules around permissible financial holdings and activities by senior Fed officials.
As McConnell Rebuffs Yellen Over Debt Limit, Dems Infighting Risks Delaying $3.5 Trillion PackageSep 16, 2021 - 06:55:01 PDT
In short, be on the look out for 'distortions' as we approach the drop-dead date for the debt ceiling, and the economic package potentially drags on for 'weeks or months.'
Because central banks must keep a lot of liquidity in the system in order to keep it functioning, we have the potential of reaching the place where we drown in paper money and inflation soars. This would signify the end of this war on cash and that cash had lost. It is difficult to justify leaving your wealth in cash that is rapidly losing its value. As we stare into...
For months, Federal Reserve Chairman Jerome Powell has insisted that inflation is "transitory." Instead of laying out a plan to taper quantitative easing, Powell used his Jackson Hole speech to double down on that narrative. Looking at the bigger picture, the US government has created a CPI calculation that intentionally understates rising prices.This raises a question: why is the government and the Fed so desperate to hide price inflation?
It means “you don’t want to commit cash. You don’t want a bond, it’s going to have a negative real return.” Dalio said. “You want stocks, you want gold, you want tangible assets, you want real estate, you want the things that are basically anti-money…you want to get into those things that have more of those intrinsic values accompanying it.”
Forecasters Warn: Storm In Atlantic Basin "Could Form Into Hurricane Over Weekend" Sep 16, 2021 - 05:50:29 PDT
The 2021 Atlantic hurricane season is heating up and showing no signs of slowing down. A tropical wave in the Eastern Atlantic is likely to develop in the next couple of days and could form into a tropical storm by the weekend.
Initial jobless claims rose last week (potentially impacted by Hurricane Ida), up from 312k to 332k...
Stocks are up against a range of obstacles, including seasonal weakness, uncertainty around the Covid delta variant and rising costs.
The government CPI data for August came in slightly under expectations. Nevertheless, a 0.3% month-on-month increase in prices is significant. And a dig into the numbers reveals something wonky. The way the government calculates housing costs drastically understates rising prices and skews overall CPI to the downside.
US Retail Sales Unexpectedly Rebound In August, Despite Slump In Car SalesSep 16, 2021 - 05:39:24 PDT
Having flip-flopped between expansion and contraction for the last four months - post-stimmy - analysts expected retail sales to drop in August for the second straight month as Delta fearmongering tamped down any recovery enthusiasm (though we note that BofA expected a rebound - and they have been spot on with their guesses all year).
China Evergrande Group (3333.HK) has raised fresh warnings of default risks, as it scrambles to raise funds to pay lenders and suppliers with regulators and financial markets worried that any crisis could ripple through China's banking system and trigger social unrest.
Australia's new security pact with the United States and the UK, seen as a move to contain China, may worsen strained ties with its biggest export customer, but China's insatiable appetite for resources may limit its punitive responses, say analysts.
China on Thursday denounced a new Indo-Pacific security alliance between the United States, Britain and Australia, saying such partnerships should not target third countries and warning of an intensified arms race in the region.
Main Battles Ahead for U.S. Democrats’ $3.5 Trillion Social Spending BillSep 16, 2021 - 05:29:08 PDT
Democrats are crafting a massive spending package as big as $3.5 trillion that would transform the U.S. economy by investing in free community college, childcare and green energy, funded by tax hikes on the wealthy and larger companies.
Rep. Alexandria Ocasio-Cortez (D-NY) will introduce legislation extending all federal pandemic unemployment programs through February 2022.
Rallying energy prices are stoking concerns about a challenging stagflation-like environment for markets, where elevated price pressures combine with a slowing economic recovery.Energy prices have soared as economies emerge from the pandemic. The Northern Hemisphere winter could exacerbate the trend, ratcheting up inflationary pressure and...
Intensifying concern over the impact of a China Evergrande Group default is rippling through the nation’s financial markets. Developers led declines on the Hang Seng China Enterprises Index, with Country Garden Holdings Co. -- the nation’s largest developer by sales -- losing 7.2% and Sunac China Holdings Ltd. sinking 11%. This week alone the two stocks have...
Gold prices drifted lower on Thursday, with a firmer dollar and U.S bond yields diminishing its appeal, as investors turned their attention to next week's U.S. Federal Reserve meeting for clues on when it would begin tapering its stimulus. Spot gold was 0.5% down at $1,784.35 per ounce by 0859 GMT, while U.S. gold futures also fell 0.5% to $1,785.10.
Stock futures traded slightly lower Thursday morning to give back some gains from a day earlier, as September selling pressure returned to equity markets.