Precious metals news

Today we received some comments from Philip R. Lane, Member of the Executive Board of the ECB in an interview conducted by Balazs Koranyi and Frank Siebelt, below is a summary of Lane's answers along with some key quotes. Outlook For The Eurozone Economy It’s important to differentiate between the first and the second halves...

Formerly temporary, now persistent work-from-home turns into slow-motion nightmare for office landlords.

Bank loans and leases (yellow line) had an initial surge in April and May of 2020 but that was entirely due to paycheck guarantee programs.

Our analysis suggests that gold is still the most effective commodity investment in a portfolio as it continues to stand apart from the commodities complex. It deserves to be seen as a differentiated asset as it has historically benefited from six key characteristics:

This analysis focuses on Gold and Silver physical delivery on the Comex. See the article What is the Comex for more detail.
Silver completed a minor delivery month. As can be seen below, the amount delivered is below recent months at 2,149 contracts. Currently, there are zero contracts open, so this is most likely the total for the month.

Recent macroeconomic data from the United States should worry us. Amid the reopening and the biggest fiscal and monetary stimulus in recent history, and with all the possible tailwinds from policy decisions, consumer confidence has plummeted to the lowest level since 2016.

This month marks the 50th anniversary of President Richard Nixon slamming shut the so-called "gold window" and severing the last ties between the dollar and gold.
On Aug. 15, 1971, Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. Nixon’s order was the end of a path off the gold standard that started during President Franklin D. Roosevelt’s administration, and it set the foundation for the massive government spending and inflation we're dealing with today.

Gold retreated below $1,800 on Wednesday as the dollar halted its slide while investors sought cues on the timeline of monetary tapering.

As sentiment towards buying conditions crashes (UMich) in America, analysts expected a modest pull back in durable goods orders in preliminary July data, and they were right, but the 0.1% MoM drop in Durable Goods Orders was less than the -0.3% MoM expected (reflecting a pullback in orders for commercial aircraft).

Primary interbank money rates eased after hitting multi-month highs earlier this week, caused by mounting investor concerns over accelerating local government bond supply and higher month-end cash demand.

As Federal Reserve officials gear up for the Jackson Hole symposium, their response to the pandemic is being criticized as risky by counterparts in Beijing who are trying to decouple China’s monetary policy from the U.S.The Communist party’s politburo has pledged “greater autonomy” of macroeconomic policies, signaling a willingness to add stimulus as China’s...

The U.S. economic recovery from the pandemic has stalled as the Delta variant weighs on growth, says this top Wall Street economist.

The frenzied U.S. withdrawal from Afghanistan appears to have shaken voters’ faith in his promise to bring competence and a steady hand back to the White House.

Democrats are trying to pass their $3.5 trillion proposal to expand the social safety net without a vote from Republicans, who oppose the spending and the proposed tax increases to pay for it.

The much anticipated Jackson Hole symposium kicks off on Thursday, where central bankers will potentially provide updates on their plan around tapering monetary stimulus. The Federal Reserve has been purchasing at least $120 billion of bonds per month to curb longer-term interest rates and jumpstart economic growth as the pandemic wreaked havoc on the economy.

Dallas Federal Reserve President Robert Kaplan has been one of the more hawkish Fed members. On Aug 11, he said the Fed should announce a quantitative easing taper in September and begin slowing asset purchases in October. But two weeks later, Kaplan backed off that assertion, saying that with the surge of COVID-19, he was open to adjusting his view. In an interview on CNBC's "Squawk Box," financial analyst Jim Grant explained why the Fed is playing with fire.

Applications for a loan to purchase a home increased 3% for the week but were 16% lower than the same week one year ago. Applications to refinance a home loan moved just 1% higher for the week and were 3% higher than the same week one year ago.

The Fed’s annual Jackson Hole symposium, gathering central bankers from around the world, will kick off on Thursday.

Today, many people may have forgotten what a tremendous economic super-power the United States was in the early 20th century.  While the Middle East is known as the world's largest oil producer, the United States held that position for quite a long time years ago.  Matter-a-fact, without the mighty oil production...

The latest Commitment of Traders Data published on Friday reveals that the "Commercials" have increased the amount of buying. See the jump in the white circle. These people represent the smart money. When analyzed in our Master Traders platform we are also generating two potential buy signals.