Precious metals news

"Governments have few universally accepted goals. National defense, protection of property, and stability of the unit of account are arguably the three most important because all else rides on them. Hyperinflation destroys all three, so any serious risk of hyperinflation is simply unacceptable...

"The premise for the modern administrative state is the dubious notion that the federal government can scientifically plan the lives of hundreds of millions of people. The practical outcome is a regime of sheer incompetence and counterproductive policymaking that is fundamentally at odds with...

U.S. President Joe Biden held a high-stakes summit with Russian President Vladimir Putin on Wednesday at what the leaders agree is a "low point" in the U.S.-Russia relationship.

Pfizer CEO Albert Bourla told CNBC on Wednesday that he expects life could return to normal for developed countries by the end of this year and the rest of the world by the end of 2022.

The Vix, a measure of expected volatility in Wall Street’s S&P 500 equity index, dwindled to a pandemic-era low of 15.7 points on Friday, having surged above 80 during the early stages of the pandemic. A measure of volatility on foreign exchange markets produced by Deutsche Bank also dropped to its lowest point since February 2020 last week.

U.K. inflation surged unexpectedly past the Bank of England’s target for the first time in almost two years, lifting the pound and adding to speculation about when monetary policy could be tightened.Consumer prices rose 2.1% from a year earlier, the highest since July 2019, the Office for National Statistics said Wednesday. Economists and the BOE had...

The waiting’s over. The European Union has fired the gun on its multiyear bond issuance to fund the 750 billion-euro ($900 billion) pandemic recovery fund that the bloc agreed last summer.

Like a child’s eyes welling up with tears, it will be a sign that all hell is about to break loose.

If I could attend the June 15-16 Federal Open Market Committee, I would ask the voting members what are they trying to accomplish? Based on efforts to help the economy recover and boost general inflation, aggressive monetary accommodation has resulted in more general inflation than any reasonable person would have expected. Is it still appropriate to...

This reminds me of the movie “The NeverEnding Story.” (Bloomberg) — Money-market investors are intensifying their focus on what the Federal Reserve might need to do to mainta…

The stimulus impacts are over already. What's ahead?

Treasury Secretary Janet Yellen is expected to testify before the Senate Finance Committee on Biden's 2022 budget on Wednesday.

China has stepped up its campaign to rein in commodity prices and reduce speculation in a bid to ease the threat to its pandemic rebound from soaring raw material costs. State-owned enterprises were ordered to control risks and limit their exposure to overseas commodities markets by the State-owned Assets Supervision and Administration Commission...

US import and export prices rose more than expected in May (+1.1% MoM and +2.2% MoM respectively). This pushed Export prices up by 17.4% YoY - the highest on record (since 1984) and import prices rose 11.3% YoY - the highest since 2011...

What are you going to do now Mr Powell?

The federal government has already run a $2.06 trillion budget deficit in fiscal 2021 with four months left to go. But somewhat surprisingly, over the last few months, the national debt hasn't increased at nearly the pace you would expect considering the budget shortfalls. Given the level of spending, borrowing should be much higher. How has the federal government maintained its spending pace without borrowing at a much higher rate?
The US Treasury has been drawing down the balance in its Treasury General Account (TGA) at the Federal Reserve. But that maneuver is about to come to an end, so you can expect Treasury bond sales to spike in the coming months.

Gold prices were subdued and confined to a narrow range on Wednesday as investors awaited for any signs of early tapering from the U.S. Federal Reserve meeting. Spot gold was down about 0.3% at $1,853.80 per ounce at 1132 GMT. In a new policy statement and economic projections due on Wednesday, the Fed is expected to acknowledge the first...

The BIS is essentially saying to the banking industry that bitcoin is not a permitted asset for depositories. Adios bitcoin!

In May, the government called for a severe crackdown on bitcoin mining and trading, setting off what’s being dubbed in crypto circles as “the great mining migration.” This exodus is underway now, and it could be a game changer for Texas.

Our central thesis of last’s night piece is that inflation is rapidly accelerating, not just due to the “base effect,” and that financial conditions are far too loose.