Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
The run-up in commodity prices is casting a cloud over the global economic recovery, slamming vulnerable businesses and households and adding to fears that inflation could become more persistent.
A record-low percentage of U.S. consumers believe now is a good time to buy a home, with worries about surging prices and a small supply of houses on the market outweighing improved sentiment about their jobs and income, a survey from home financing giant Fannie Mae showed on Monday.
The Federal Reserve's reverse repurchase facility on Monday attracted $486.1 billion in cash, a record high, with financial institutions lending to the U.S. central bank at a 0% interest rate in a sign there are few investment options available in a low yield environment.
Treasury Yields Flat in Pre-market Trading As Investors Await Inflation ReportJun 8, 2021 - 05:29:18 PDT
The dollar weakened slightly Tuesday as markets expect a higher inflation print.
Last week, Russia announced plans to completely eliminate dollars and dollar-denominated assets from its sovereign wealth fund. Is this another sign of erosion of dollar dominance?The news from Russia dovetails with a warning by billionaire fund manager Stanley Druckenmiller that the dollar could cease to be the world's reserve currency within the next 15 years.
According to a court document, the Federal Bureau of Investigation was able to access the “private key,” or password, for one of the hackers’ bitcoin wallets. Bitcoin has often been the currency of choice for hackers demanding ransom payments to decrypt data locked by malware known as “ransomware.”
Biden Administration Announces Plans to Strengthen Critical Supply ChainsJun 8, 2021 - 05:20:30 PDT
The White House is planning to strengthen U.S. supply chains, build up domestic manufacturing and address vulnerabilities.
After an hour of websites and apps worldwide went dark, many are coming back online around 0730 ET. The core problem was an "issue" identified on the Fastly CDN (content delivery network) network.
U.S. Reportedly Concluded COVID Virus May Have Leaked From Wuhan Lab: CNBCJun 8, 2021 - 05:14:03 PDT
A U.S. report on the origins of Covid-19 concluded that the hypothesis of a virus leak from a Chinese lab in Wuhan is plausible, The Wall Street Journal said.
The global mining industry faces serious headwinds as it hits the brick wall called the Energy Cliff. Not only will peak oil production translate to falling metals supply, the tremendous amount of friction and wear in the global mining industry will also make a bad situation worse. Why?
Russia announced it will eliminate the dollar from its oil fund to reduce its vulnerability to Western sanctions. The news comes just weeks before Putin and President Biden are scheduled to meet at an upcoming summit. Finance Minister Anton Siluanov noted that the dollar holdings will now be shifted to euros, yuan and gold.
Putting it all together, the odds thus seem skewed towards precious metals being the next “rolling bubble”.
Unfortunately, we are seeing shortages of both physical gold and silver. Check out gold and silver prices against the US Dollar since Covid outbreak in March 2020. Gold is up 27% since March 18, 2020 and silver is a whopping 135%!
They Don't Hate Gold Because It's Gold. They Hate It Because It's Not Government MoneyJun 7, 2021 - 11:19:59 PDT
The purchasing power of gold is not stable. But the very notions of stability and unchangeability of purchasing power are absurd.
The collapse of the dollar means that everyone is trying to sell their dollar-denominated assets, and no one wants to buy them. This will drive the value of the dollar down to near zero. It would make hyperinflation look like a day in the park.
"By making precious metals a more integral part of citizens’ lives, state gold depositories are key to a return to sound money.”
"The evidence shows that banks treated excess reserves as a profitable alternative to loans. High rates of IOER caused them to increase reserve holdings and decrease their loan allocations. The Fed was indeed paying banks not to lend." ~ Thomas L. Hogan
The WTF Spike of Used-Vehicle Prices Continues Unabated. So Which Part Is “Temporary?”Jun 7, 2021 - 10:35:02 PDT
This would normally have triggered a Buyers’ Strike, but the Inflationary Mindset has changed.
Inflation may look like it will go away but is more likely to persist and lead to a crisis in the years ahead, according to Deutsche Bank.
The Fed Is in Early Stages of a Campaign to Prepare Markets for Tapering Its Asset PurchasesJun 7, 2021 - 09:50:31 PDT
Comments by Fed officials in the past several weeks suggest the issue of tapering looks likely to be discussed as soon as next week's FOMC meeting.