Precious metals news

Defense Secretary Lloyd Austin sought to reassure the Asia-Pacific that the U.S. was committed to engagement in the region, while vowing to challenge what he called China’s aggression.

Chair Jerome Powell must deal with growing dissension within his ranks.

"Over time, cities are going to need to conserve more and more water, and that doesn't get any easier with climate change," John Fleck, the director of the Water Resources Program at the University of New Mexico, told CNN.

Join us for Part 2 of our series on the 2021 ‘In Gold We Trust Report’. In this episode, Mike Maloney and Ronnie Stoeferle address the issue of inflation - is it temporary, or is it something we must all plan for as an increasing and ongoing part of our lives?

Shares of logistics company UPS fell sharply on Tuesday after the company’s second-quarter earnings report showed that deliveries in the United States were slowing.

Sen. Elizabeth Warren on Tuesday urged Treasury Secretary Janet Yellen to make crypto markets safer.

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

The organization that is always wrong is wrong again.

After June's unexpected rise in consumer confidence, analysts expected The Conference Board's survey data to paint a less optimistic picture in July, but they were wrong as the headline print unexpectedly rose to 129.1 (from 128.9 and against expectations of a drop to 123.9), within a point of pre-COVID confidence levels.

Home prices were 16.6% higher than in May 2020, the highest reading in the S&P CoreLogic Case-Shiller report's 30-plus years.

For the most part, the Washington-based institution sees these price pressures as transitory. However, it warned that "uncertainty remains high."

Inflation continues to run rampant, eroding our purchasing power even as policymakers continue to tell us there's nothing to worry about. The US government continues to run up unfathomable levels of debt. We continue to endure a repeating cycle of booms and busts as Fed and US government policies blow up bubbles that inevitably pop.
It's easy to get caught up in the news of the day and look at these issues in isolation, but there is one factor that ties them all together - fiat money. As economist Thorsten Polleit put it, "Basically everything bears their fingerprints: the economic and financial system, politics—even people’s cultural norms, values, and morals will not escape the broader consequences of fiat currencies."

Gold prices fluctuated at around $1,800 ahead of July’s FOMC meeting as traders awaited clues about the tapering timeline. Real yields fell to a six-month low, lending support to bullion prices ami...

While the Federal Reserve continues to downplay inflation in the US, insisting that it is "transitory," the Bank of Russia has gone to war with rising prices. Bank of Russia Governor Elvira Nabiullina says she sees "persistent factors" to inflation, and on Friday, the Russian Central bank hiked interest rates by 100 basis points to 6.5%.
In a statement, the Bank of Russia said, "The contribution of persistent factors to inflation increased due to faster growth of demand compared to output expansion capacity.”

Bitcoin fell below $37,000 after briefly surpassing $40,000 following Amazon.com Inc.’s denial that its job posting for a digital currency executive meant that it will accept the token for payments this year. Earlier Monday, the job posting from the retail giant seeking an executive to develop the company’s “digital currency and blockchain strategy” ...

Hymen Minsky theorized that long periods of bullish speculation create excesses generated by reckless, speculative activity eventually leading to a crisis. In this past weekend’s newsletter, I discussed the issue of the markets next “Minsky Moment.” Today, I want to expand on that analysis to discuss how the Fed’s drive to create “stability” eventually creates “instability.”

Shortly after the pandemic struck last year, the Federal Reserve began buying billions of dollars in government debt every month to drive down borrowing costs and keep the economy from collapsing.

After a surprisingly large jump higher in May, analysts expected today's preliminary June Durable Goods Orders to continue to improve (despite PMIs signaling the opposite), but they were wrong as Orders rose just 0.8% MoM (well below the 2.2% MoM rise expected).

The negotiations have entered that most excruciating of phases: tantalizingly close to an agreement, but with none in hand. And patience is wearing thin.

His words follow last week's announcement that the ECB will pursue a "persistently accommodative" stance.