Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Federal Reserve officials meet this week faced with ongoing tension between their two main goals, as inflation rises faster than expected even with millions of Americans still unemployed more than a year after the onset of the coronavirus pandemic.
A U.S. aircraft carrier group led by the USS Ronald Reagan has entered the South China Sea as part of a routine mission, the U.S. Navy said on Tuesday, at a time of rising tensions between Washington and Beijing, which claims most the disputed waterway.
Typically, the US government runs a budget surplus in the month that tax returns come due. Not this year. Despite a surge in receipts, the federal government ran a $131.95 billion deficit in May, continuing the trend of overspending and ballooning budget shortfalls.The federal budget deficit for fiscal 2021 now stands at $2.06 trillion with four months left to go. That compares with a $1.9 trillion deficit through the first seven months of fiscal 2020, which included the first round of stimulus checks in April 2020.
Producer Prices Climb 6.6% in May on Annual Basis, Largest 12-Month Increase on RecordJun 15, 2021 - 05:41:51 PDT
Retail sales were expected to decline by 0.6% in May, while producer prices were estimated to rise by 0.5%, according to economists surveyed by Dow Jones.
President Joe Biden used his first NATO summit since taking office to join other alliance members in calling for a response to China's growing power.
China lashed out at the U.S., calling the country “very ill indeed,” after President Joe Biden secured support from European allies to present a more united front against Beijing.
America and Europe Will Create a Joint Tech Council To Craft New Rules on TradeJun 15, 2021 - 05:26:19 PDT
The United States and the European Union are planning a new joint technology and trade initiative to counter China’s rising influence.
Former NYC Police Commissioner Warns ‘We’re In for a Very Long, Dangerous Summer’Jun 15, 2021 - 05:22:28 PDT
Bratton said the crime landscape could become even bleaker, depending on the Supreme Court's ruling in a key gun control case.
Bank of America’s economists have been on a roll in the past four months. Back in February, the bank looked at its credit and debit card spending data and concluded that consensus was far, far too low, predicting that the stimmy-fueled January retail sales print would be above 4.1%.
Guangdong, a major shipping hub, accounts for about 24% of China's total exports and is home to the Shenzhen port and the Guangzhou port.
Treasury yields are flat on Tuesday morning as investors anticipate what the Fed will say in its two-day policy meeting, which kicks off later in the day.
The Fed is not expected to take any policy actions after its meeting this week, but it is likely to signal that it is thinking about them.
The CPI data came in higher than expected again in May. Looking at the trend, this should cast some serious doubt on the notion that inflation is "transitory." Price data has come out hotter than expected every month this year. But the market reaction appears to be the exact opposite. The worse than expected CPI report seems to have reinforced the "inflation is transitory" narrative. As Peter Schiff explained in his podcast, everybody is buying into a lie the Fed is spoon-feeding us.
iSHARES SLV ETF vs. SPROTT PSLV ETF: New Evidence Destroys Preconceived Myths & Which Silver ETF Is Better ValuedJune 15, 2021
If we compare the iShares SLV ETF to the Sprott PLSV ETF, new evidence suggests that wide-held silver investor prejudice or preference of one Silver ETF over the other seems to be faulty. Therefore, according to many in the precious metals community, the JP Morgan iShares SLV ETF should be...
Demand should also be strong, as one in five central banks intend to increase reserves over the next year, according to the World Gold Council.
Jun 14, 2021 - 13:11:58 PDT
... But few asset classes are quite as controversial as gold, bitcoin, and other alternative monies. Some people literally put every penny they have into them and trust nothing else, while other people can’t possibly see why they hold any value at all.
The weekly chart shows that prices moved higher and continued a long-term bull flag pattern that is a pause that eventually refreshes higher.
Jun 14, 2021 - 13:05:46 PDT
To put this into context, this volume of gold swaps exceeds the 504.8 tonnes of gold held by the European Central Bank. Only 10 countries report higher holdings of gold than the ECB.
Inflation’s running at 5% according to recently released CPI data. However, John Williams of Shadow Government Statistics argues inflation is much higher.
The Federal Reserve’s much awaited interest-rate meeting this week is just one of a panoply by global central banks whose policies are increasingly diverging as economies respond in different ways to the coronavirus crisis.An anticipated decision in Washington on Wednesday to stay the course with an easing stance for the duration of the American summer...