Precious metals news

There's been a lot of talk about the Federal Reserve tapering quantitative easing. So far, it's been nothing but talk.
A lot of people expected Federal Reserve Chairman Jerome Powell to offer some details and perhaps a timeline for the taper during his Jackson Hole speech. We got no such thing. Instead, he tapered the taper talk.  In fact, Powell never uttered the word "taper." he spent most of the speech trying to prop up his "transitory" inflation narrative.

Gold futures climbed on Tuesday following some downbeat U.S. economic data, with prices notching a slight gain for the month. Looking ahead, the focus will be on Friday's U.S. jobs data, wrote Peter Grant in Zaner's latest Grant on Gold newsletter.

This newsletter issue focuses on the ongoing supply chain issues, inflation, and commodities. In many ways, the 2020s decade continues to mirror the 1940s in terms of fiscal policy, monetary policy, and de-globalization.

For anyone who pays rent or a mortgage, it will come as no surprise to hear that real estate prices are soaring. Why is this happening? Will it stop any time soon? Are we in the late stages of a real Estate bubble? Join Mike Maloney and Adam Taggart in today’s info-packed update to find out.

Chair Powell broadly did not express concerns about inflation in his Jackson Hole remarks. No evidence that expectations of inflation are being de-anchored from the 2% level. This narrative should be positive for gold, in the view of Bart Melek, Head of Commodity Strategy at TD Securities.

Gold rose as Treasury yields declined after the Jackson Hole symposium reaffirmed the Fed was in no rush to raise interest rates. US Nonfarm Payrolls report on Friday will reveal how resilient the US labour market has been in the face of the recent Delta outbreak. Weak numbers could propel XAU/USD towards $1900, strategists at OCBC Bank report.

Russia has urged Western countries not to freeze Afghanistan’s gold and foreign exchange reserves abroad following the Taliban’s takeover of the country. In an interview with the state-run Rossiya 24 broadcaster, Zamir Kabulov, Russia’s presidential envoy to Afghanistan, warned that such a move ultimately harms ordinary Afghans.

The financial outlook for Social Security and Medicare, two of the nation's preeminent safety net programs, has deteriorated over the past year due to Covid.

Five years into scandals that have already cost Wells Fargo & Co. more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls. The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau have warned...

Global interest rates are likely to stay low, fuelling an already red-hot Swiss property market that poses risks to financial stability, Swiss National Bank (SNB) Vice Chairman Fritz Zurbruegg said on Tuesday. "It is to be expected that the global low interest rate environment will remain unchanged for some time to come," he said in prepared remarks on mortgage and property markets at the University of Lucerne. An aging population and a decline in productivity growth are among the structural factors behind the trend, while central banks in advanced economies are pursuing expansionary policy...

Demand for the Federal Reserve's overnight reverse repo program could hit a record of $1.4 trillion by year-end as debt ceiling talks drag into the fall,...

The continuous rise of the debt-to-GDP ratio indicates that current policy is unsustainable…. The projections in this Financial Report indicate that if policy remains unchanged, the debt-to-GDP ratio will steadily increase throughout the projection period and beyond based on this report’s assumptions, which implies current policy is not sustainable and must ultimately change.

What’s the point of a central bank? The old fashioned among you will think the answer to that is obvious: to manage interest rates and the supply of money such that inflation remains firmly under control. Central bankers have different ideas. Where they once liked to consider themselves technocratic, they now think of themselves as rather more nuanced...

Business lobbyists are increasingly optimistic that they can water down tax hikes and other measures in Democrats’ $3.5 trillion spending plan opposed by corporate America.

Senate Republicans are digging in deeper and deeper in their resistance to raising the nation's borrowing limit, with 46 of them vowing to oppose an increase this fall that will need at least 10 Republican votes. Yet Democrats still plan to burn their most expedient ticket out of the debt mess, with no intention to shift course and pass an increase along party lines.

Nearly six in 10 workers save less than 10% of their income and a third set aside less than 5%, the survey revealed.

State labor departments tell CNBC Make It that they have no intention of extending or providing additional unemployment benefits on their own after Sept. 6.

Gold prices rose back towards the previous session’s four-week high on Tuesday, supported by a weaker dollar and a fall in U.S. Treasury yields, as investors awaited August U.S. non-farm payrolls data due later this week.

coming in at 113.9, it was a plunge from last month's 129.1 (revised down to 125.1), and missed not only the consensus estimate of 123.0 but also missed the lowest sellside forecast. That said, and as shown in the chart below, the Consumer Confidence index still has a long way to go before it catches down to its UMich peer.

The greenback dropped against just about every major currency Tuesday as traders look to U.S. jobs data this week for the next steer on market direction. Commodity producers were among the biggest gainers, with New Zealand’s dollar and South Africa’s rand advancing close to 1%. The euro also got a bump following comments on stimulus withdrawal from...