Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Americans See the Raging Mania: “Bad Time to Buy a Home” & “Good Time to Sell a Home”Jul 8, 2021 - 07:08:01 PDT
If these sentiments become reality, it’s going to be a sea change for demand and supply at these crazy prices.
Tapering, Doubts about “Transitory” Inflation, and “Financial Stability Risks”Jul 8, 2021 - 07:03:16 PDT
Disruptions “might linger for longer and might have larger or more persistent effects on prices and wages than they currently assumed.”
Japan's state of emergency due to rising Covid-19 cases will last from July 12 through Aug. 22.
Gold-backed ETFs globally added 40.7 tons of gold in the second quarter of 2021, reversing a trend of significant outflows in Q1.In 2020, gold-backed ETFs recorded record net inflows of gold. Funds added nearly 231 more tons in 2020 than they did during the previous record year (2009/646 tons). But with declines in the price of gold and investors pivoting to riskier investments as economies improve, gold flowed out of ETFs in the first quarter. That trend reversed in May.
There Are Still Over 14 Million Americans On Some Form Of Government DoleJul 8, 2021 - 05:49:43 PDT
Initial jobless claims hovered at post-COVID-lockdown lows but were disappointing at 373k - well above the 200k-ish norms of pre-COVID
Gold gained on Thursday, building on a five-day winning streak as the U.S. dollar eased and Treasury yields extended their slump.
Bitcoin, Ether Tumble As Investors Take Off Risk Amid Global Markets SlideJul 8, 2021 - 05:46:16 PDT
The price of bitcoin dropped Thursday morning as investors broadly began shedding risk on fears of a global economic comeback.
A $9 Trillion Binge Turns Central Banks Into the Market’s Biggest Whales: BloombergJul 8, 2021 - 05:42:57 PDT
Since the start of the pandemic, central banks in the U.S., Europe and Japan have been on a $9 trillion spending spree.
Inflation has emerged as one of the top concerns for central bank reserve managers, alongside a failure to end the COVID-19 crisis and soaring debt levels, showed the results of a UBS survey released on Wednesday. Fears about inflation and uncontrolled rises in long-term yields, a risk not flagged by participants at all in last year’s Annual Reserve Manager...
When Should We Start Worrying About The Fed's Massive Reverse Repo Facility? Zoltan AnswersJul 8, 2021 - 05:36:34 PDT
With the Fed's overnight reverse repo facility hitting a record $992 billion on June 30 (a number which included a generous dose of quarter-end window dressing, having since shrank by about $200 billion)...
Federal Reserve officials continued to discuss in June how they could potentially structure a permanent facility for supporting U.S. money markets, according to minutes from the central bank's last policy meeting released on Wednesday.
Stimulus Check Petition at 2.5 Million Signatures, Americans Ask: ‘Will There Be a Fourth Payment?’Jul 8, 2021 - 05:32:21 PDT
With many Americans still struggling to recover financially from the Covid-19 pandemic, many are asking whether a fourth stimulus check could happen.
America's richest of the rich just passed the Rockefeller-Carnegie cohort in wealth concentration, according to Berkeley economist Gabriel Zucman.
As many as 22 million jobs have been lost in advanced economies due to the Covid-19 pandemic, the Organization for Economic Cooperation and Development (OECD) said Wednesday.
European stocks fell sharply on Thursday amid a global sell-off as concerns about the economic recovery resurfaced.
New outbreaks of Covid-19 remain one of the top risks to a global economic recovery, the OECD's secretary-general has warned.
Even with the CPI rising more than expected every month this year, Federal Reserve Chairman Jerome Powell continues to insist that inflation is "transitory." But not everybody is buying Powell's narrative. In a blog post published July 7, International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned of a "sustained" inflation rise in the United States.But even if she's right, will the Fed do anything about it?
The 10-year U.S. Treasury yield fell as low as 1.25% on Thursday, its lowest point since February, continuing a sharp reversal in the bond market.
The European Central Bank’s revamp of its strategy may allow for inflation pricing to creep up to new heights -- though in and of itself it is unlikely to be the cure for a malaise that plagued the euro area for long.
China Signals Easier Monetary Policy, Reviving Worries About Weaker GrowthJul 8, 2021 - 05:10:56 PDT
China's top executive body said late Wednesday the central bank would stimulate the economy with cuts to the amount of funds banks need to hold in reserve.