Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
MOSCOW, July 29 (Reuters) - Russia and China will conduct joint military exercises involving 10,000 troops in mid-August, the Interfax news agency cited the Russian defense ministry as saying on Thursday. Moscow has sought to boost relations with China since 2014, when its political ties with the West sank to post Cold-War lows over the annexation of Crimea from Ukraine.
Jul 29, 2021 - 07:56:44 PDT
Some of the heat was taken out the escalating China Syndrome yesterday when the Chinese regulator held a “secret” meeting with global firms, while Jay Powell took the pressure out of immediate taper fears. Both issues remain sources of massive future pressure on markets – they are sorted for now, but not resolved!
The Fed is trapped and is limited to all talk, no action. What comes next in the market?
Game over. Occam’s Razor: The simplest explanation is often the best one. Central banks will never extract themselves. Whether they ultimately end QE is besides the point. They won’t reduce their balance sheets. They can’t. Powell’s “performance” yesterday was not an accident. He’s been running on the same theme of offering absolutely zero specifics.
The International Monetary Fund must ramp up its resources as it seeks to "monitor, advise on, and help manage this far-reaching and complex transition" to digital money, according to an IMF paper published on Thursday. Digital money can make payments more accessible, faster and cheaper, the paper said. “The Fund has a critical role to play to help...
The second largest U.S. bank said that the rise of CBDCs was "inevitable."
My Thoughts on the Fed’s Back-to-the-Future “Standing Repo Facilities” Announced TodayJul 29, 2021 - 07:04:58 PDT
Repos are different from QE; they’re in-and-out transactions that don’t endlessly pile up, unlike QE.
After rising in May, signed contracts on existing homes fell in June due to sky-high prices.
The Federal Reserve insists inflation is "transitory" and the economy is making "progress." Yet, it continues with the extraordinary monetary policy it launched at the onset of the COVID-19 pandemic. Meanwhile, we're seeing all kinds of data hinting that the economy may not be as great as advertised. Despite this, and even as prices continue to spiral higher, the Fed's only monetary policy is talk. Peter breaks it all down on his podcast and drills down to the key question: what happens if the markets call the Fed's bluff?
The ideal bagholder is one who adds more on every downturn (buy the dip) and who refuses to sell (diamond hands), holding on for the inevitable Fed-fueled rally to new highs.
Dow Rises More Than 200 Points to a Record Despite Disappointing Economic DataJul 29, 2021 - 06:50:04 PDT
U.S. stock futures were mixed early Thursday morning after the Federal Reserve made no move on asset purchases.
The US dollar has been around for a long time. But will it last much longer? While the dollar has been in existence for over 200 years, the current fiat version -- which isn't backed by any hard collateral like the gold and silver it once was prior to 1971 -- is only now just turning 50 years old.
On today's daily watchlist our main focus is Gold and the USD. After yesterday's FOMC day the DXY broke the reversal pattern that we had been following for over a week now. We remain very long biased Gold, even more after yesterday's Inflation speech by Chairman Powell.
Initial Jobless Claims Disappoint As The Number Of Americans On The Dole Rises Back Above 13 MillionJul 29, 2021 - 05:39:20 PDT
The number of Americans filing for first time jobless claims was worse than expected last week, at 400k (vs 385k expected). The silver lining is that this was a drop from the prior week's 419k...
Today's first estimate of Q1 GDP growth is expected to show the US economy growing at a whopping 8.5% rate as government aid and vaccinations fuelled spending. The problem, as discussed recently, is that it's all downhill from here with Goldman recently slashing its GDP outlook and expecting growth to slide to a muted trendlike 1.5%-2.0% by the end of 2022.
Gold prices rose to a more than one-week high on Thursday after Fed Chair Jerome Powell reassured investors that a rate hike is not on the cards anytime soon.
Jul 29, 2021 - 05:24:05 PDT
Cryptocurrency tax enforcement is among several funding mechanisms agreed to by bipartisan lawmakers as part of their infrastructure package.
German consumer price increases accelerated in July, pushing inflation further away from the European Central Bank's target of close to or below 2%, data from six states showed on Thursday.
The Federal Reserve wrapped up its July meeting on Wednesday. Once again, there was a whole lot of talk and no action.The Fed kept interest rates at zero. The Fed kept its quantitative easing program rolling. The Fed didn't do anything. But the Fed had plenty to say.
Increasing credit stress in China stemming from a government crackdown on a range of industries could spread to U.S. investors’ credit portfolios.Global high-yield fund managers suffering losses in their Asia credit portfolios could look to lower risk across their holdings, or to sell more liquid, high-performing bonds such as U.S. speculative-grade notes...