Gold has all the potential to go unprecedentedly high. But silver will be gold on
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After unexpectedly tumbling in April (-1.3% MoM), analysts expected preliminary May Durable Goods Orders to rebound significantly (+2.8% MoM) but they were disappointed when the print hit at only +2.3% MoM (and the month before was upwardly revised to a 0.8% drop).
Gold prices languished on Thursday as investors tried to grasp mixed signals from U.S. Federal Reserve officials on interest rate hikes and awaited more economic data to gauge inflationary pressures.
Investors have been struggling to interpret signals from the Federal Reserve about how hot it is willing to let inflation run before it begins unwinding pandemic-era monetary stimulus.
Global Markets: Stocks Grind Higher As Investors Ponder U.S. Inflation SignalsJun 24, 2021 - 06:15:35 PDT
Global shares edged up on Thursday, while the U.S. dollar slipped further below two-month highs as investors reassessed U.S. Federal Reserve statements on inflation and looked to upcoming data for direction.
(Bloomberg) -- In one fell swoop, the Supreme Court crushed Fannie Mae and Freddie Mac shareholders and gave President Joe Biden carte blanche to rewrite the rules for the U.S.’s massive housing market.Left unanswered was the same question that’s befuddled Washington for more than a decade: Will anyone ever figure out what to do with Fannie and...
Who produces the world's gold?Gold production fell again in 2020. According to the World Gold Council, gold production came in at 3,478 tons last year. That compares with mine output of 3,597 tons in 2019.
The Top 1% of Americans Have About 16 Times More Wealth Than the Bottom 50%Jun 24, 2021 - 06:09:20 PDT
The top 1% of Americans control $41.52 trillion, according to the Federal Reserve. That's roughly 16 times more wealth than the bottom 50%.
China's campaign to cut leverage and instill corporate discipline is reshaping the nation's US$12 trillion credit market.
Biden invites infrastructure negotiators to White House as bipartisan group moves closer to a dealJun 24, 2021 - 06:00:47 PDT
Senators say they are close to a bipartisan infrastructure deal, but they still need to agree with President Biden on how to pay for it.
Treasury yields rose on Thursday morning, after two Federal Reserve officials warned that higher inflation might be around for longer than anticipated.
The Bank of England on Thursday kept its monetary policy unchanged, but vowed to monitor rising inflation as the U.K. economy emerges from its Covid-induced slump.
First-time claims for unemployment insurance were expected to total 380,000 for the week ended June 19.
President Biden has proposed a borrow and spend "to infinity and beyond" budget featuring $6 trillion in government spending. That's the largest amount of spending ever proposed in a presidential budget. In the following podcast clip, Peter Schiff argues it's not accurate to call it a "budget." The federal government has given up on actual budgeting.
With the coming global oil supply peak, soon to follow will be the peak and decline of metals production. And, what is by far the most produced metal in the world that will peak shortly? Steel. While we count most annual metal production in thousands or millions of tons, steel is calculated by the billions...
The move away from the Federal Reserve Note as the global reserve currency of choice has continued in recent years, with fresh developments increasing
Gold futures climb on Wednesday, with prices posting their highest settlement in a week, supported by a U.S. dollar that has receded from roughly 2-month highs.
This Is Why Some Experts Think The Recent Gold Price Dip Isn’t A Buying OpportunityJun 23, 2021 - 13:27:23 PDT
Gold prices have been dropping as the Federal Reserve signaled higher interest rates amid expectations of rising inflation, but the yellow metal’s performance depends upon a complex array of factors, including Treasury yields, the money supply and strength of the dollar.
Gold’s price has dropped by almost 7% since the end of May. Most of the move can be attributed to an increase in interest rates following last week’s US Federal Reserve (Fed) FOMC meeting. Gold’s reaction is not surprising given that it has experienced higher sensitivity to interest rates over the past year...
According to the Austrian business cycle theory (ABCT), the boom-bust cycle emerges in response to a deviation in the market interest rate from the natural interest rate, or the equilibrium interest rate. It is held that the major cause for this deviation is increases in the money supply.
The multiple relief packages enacted by Congress flooded the U.S. economy with cash, providing much-needed liquidity as the Covid-19 pandemic sharply reduced activity in multiple sectors including travel, hospitality, dining and entertainment. But as Neil Irwin of The New York Times notes Tuesday, most of the aid money was front-loaded, issued in a matter of weeks or months.