Precious metals news

Silver demand for industrial applications, jewelry production and silverware fabrication is expected to nearly double over the next 10 years.
According to a report by Oxford Economics commissioned by the Silver Institute, the demand in these three sectors is forecast to increase by 42% between 2023 and 2033.

Initial jobless claims in the U.S. slightly decreased to 217,000 last week, but the number of continuing claims has been rising for six weeks, reaching the highest since April at 1.834 million. This suggests underlying issues in the labor market. Goldman Sachs warns that seasonal factors could further inflate these numbers by 375,000 by March, indicating worsening conditions ahead.

Declining Treasury yields have spurred a short-term surge in stocks, but investors are increasingly anxious that this trend could backfire by encouraging the Fed to extend its aggressive rate policies. The worry is that persistently low yields might overly loosen financial conditions, compelling the Fed to keep rates high to prevent a resurgence in inflation. This could negatively affect asset values and sustain economic pressure. Such a scenario poses a tricky balancing act for the Fed, which could result in prolonged market turbulence and economic strain.

Bank of Japan Governor Kazuo Ueda signaled concern over raising interest rates, underlining the potential for severe market disruption and strain on the economy. Despite nearing their inflation target, the central bank faces a tough path ahead, with the looming threat of market instability and long-term low-rate repercussions adding to the grim outlook.

China's economy experienced deflation with a 0.2% drop in the CPI last month, largely due to a significant decline in pork prices. Producer prices continued to fall, marking a 13th consecutive month of declines. Weak domestic demand persists, challenging the government to further stimulate the economy amid mixed recovery signals.

US Treasury bond auctions are causing significant volatility in stock markets, with the S&P 500 showing about 1% swings on auction days. This effect is now greater than the market impact of employment data. Recent auctions, including a key 30-year bond sale, have shown weaker demand, raising concerns over high yields and their negative effect on stocks. Equity traders are alert to these auctions as critical indicators of market direction amidst uncertainty over Federal Reserve interest rate policies.

Mainstream financial network pundits and government officials keep telling us that the economy is chugging along because Americans continue to spend money. But it's clear that borrowing is the only thing sustaining this spending spree.
Meanwhile, the "resilient" American consumer is drowning under a surging tidal wave of debt.

Ken Griffin, Citadel's founder, foresees a period of global unrest and structural shifts leading to de-globalization and persistently high inflation, potentially lasting decades. He argues this environment will exacerbate the cost of the U.S. deficit, already inflated by unchecked government spending. Griffin criticizes this spending as reckless and unsustainable, noting that despite a strong job market, there's a pervasive unease among U.S. consumers. He cautions against the Federal Reserve's potential strategy of printing money to forestall default, stating it would have catastrophic economic results, sending the economy into severe decline.

Precious metals investors are still concerned about the rampant "Manipulation" of the Silver Market.  I decided to share where I believe the manipulation occurs in the silver market.  There is a great deal of fraud happening behind the scenes... but where??

Ronnie joins Mike to shed light on some new revelations that could signal a gold bull market on the horizon.

The ambitious goals of the green agenda to shift towards renewable energy, while challenging in terms of raw material acquisition, spotlight silver as a critical component. Every gigawatt of solar power necessitates substantial amounts of silver, estimated to be up to 21 metric tons. With silver production already failing to meet industrial and investment demands, the added pressure from renewable energy initiatives is poised to amplify silver demand by an additional three to fivefold. This presents a substantial growth opportunity for silver, underpinning a bullish outlook for its future pricing in the market.

With inflation appearing to peak and gold near record prices, some investors are hesitant to buy, waiting for a bigger price drop. Yet, as yields fall, a potential bullish reversal for gold and silver is on the horizon, especially as they hit key support levels. Silver, in particular, may have greater potential than gold, suggested by the stable gold-silver ratio, indicating silver might soon outperform gold.

AI advancements are predicted to significantly boost demand for precious metals, particularly silver, due to its essential role in electronics and the green energy sector. Although industrial gold demand has dipped, a resurgence driven by tech sector growth is expected next year. Silver, critical for its conductivity, faces supply challenges and could see a sharp increase in demand, further stressed by its use in solar energy production. Precious metals like platinum, palladium, and gold, integral to various AI chip components, are set for a demand surge in 2024 as AI technology proliferates.

Despite the seemingly inexplicable strength of the dollar amidst soaring U.S. debt-to-GDP ratios and relentless deficits, the reality is that the dollar's might is relative; its major competitors are floundering even more. Yet, the Eurodollar market's demand for short-term U.S. T-bills—requiring hefty dollar purchases—keeps the dollar afloat. However, don't be fooled by the dollar's robust facade. Gold, the true measure of currency value, is ascending. As gold prices climb, it's evident that gold is the prudent investor's choice. Under $2,000, gold is not just a bargain; it's the savvy hedge against a dollar whose apparent strength is a temporary phenomenon in a world veering towards fiscal recklessness.

The fiscal year 2024 is already signaling a debt disaster for the U.S., with last year's $1.7 trillion debt increase likely just the beginning. With deceptive accounting, the reality is probably worse, potentially a 100% rise from the previous year. As interest rates climb, America's massive $33 trillion national debt could spiral out of control, forcing the government into a perilous cycle of austerity, increased borrowing, and relentless inflation. Despite claims of a robust economy, plummeting tax revenues hint at a looming recession that could send deficits skyrocketing, trapping the country in an unsustainable financial vortex.

FCC Commissioner Brendan Carr has sharply rebuked President Biden's "digital equity" initiative as a dangerous overreach, labeling it an "unlawful power grab" that threatens to place the entire internet ecosystem under the heavy hand of the federal government. Carr contends that Biden's plan would bestow the administrative state with a level of control over internet services and infrastructure that is both unprecedented and unfounded in legal precedent. This shift to expansive government controls, according to Carr, is an alarming departure from historical regulatory restraint and could signify a severe constriction of technological freedom and innovation.

While America struggles to buy groceries, President Biden faces criticism for poorly managing a vast green fund. Appointee John Podesta, a political insider, is accused of channeling $369 billion from the Inflation Reduction Act to favored, failing green companies. "Green banks," designed to fund these ventures with taxpayer money, are especially contentious, with allegations of mismanagement and wasteful spending within the administration.

American credit card debt has alarmingly surged to $1.08 trillion, marking a disastrous yearly increase and the worst spike since 1999. Millennials are particularly hit hard, struggling with escalating delinquencies amidst mounting student loans. Nationwide, the cost-of-living crisis pushes more people into relentless debt cycles, with a significant number facing steep interest penalties, unable to chip away at the growing financial hole.

China expanded its gold reserves for a twelfth straight month in October, according to the latest data from the People’s Bank of China (PBoC). The country raised its gold reserves by around 23 tonnes to a total of 2,215 tonnes last month. China has added about 266 tonnes of gold in the last twelve months through October. In general, central bank demand over the third quarter has been strong, because of the geopolitical environment, and with this uncertainty set to linger, we are likely to see central banks continuing to add to their holdings in the coming months.

“China’s failure to publish foreign exchange intervention and broader lack of transparency around key features of its exchange rate mechanism make China an outlier,” the Treasury said in its report. The release comes just two days before Treasury Secretary Janet Yellen sits down with her Chinese counterpart, Vice Premier He Lifeng. Over two days of meetings, the duo are expected to help restore high-level economic dialogue that had largely lapsed during escalating bilateral tensions over issues ranging from trade to security.