Precious metals news

Coin Price Forecast Center: Forecasting accuracy is a key metric for our customers. We are constantly improving it with the continual introduction of newer data science and machine learning techniques. According to the latest long-term forecast, Silver price will hit $25 by the end of 2023 and then $30 by the end of 2024. Silver will rise to $40 within the year of 2025, $50 in 2026, $60 in 2027, $70 in 2029, $75 in 2030, $80 in 2032, $90 in 2033 and $100 in 2034. Thats without a Financial Crises.

Nikko Asset Management finds gold more appealing after its recent price drop, especially amidst the rising interest rates that increase market unpredictability. Robert Samson, with $1.5 billion under management, has allocated 6%-8% of a Japanese portfolio to gold, benefiting from yen's decline. Despite gold's lowered allure due to the US Federal Reserve's interest rate hikes and the strengthening US dollar, Samson believes gold is now at fair value and offers protection in the current economic environment. He sees gold as a safe asset, especially when interest rates peak and subsequently adjust to potential risks.

Stefan Huth of Junge Welt claims a new global order is emerging, driven by shifts in international politics and economics. The Global South, especially Africa, is reshaping its international role after centuries of colonization. African nations are seeking new partners and trade terms, with Russia and China at the forefront of this change. Huth believes the EU is caught between benefiting from this shift while still clinging to the traditional Western-centric order, resulting in a contradictory stance.

Global economic growth is stalling due to various short-term and long-term challenges, including geopolitical conflicts, high public debt, and aging populations. The Brookings-Financial Times TIGER index reveals a broad weakening in economic activity. Despite earlier positive financial market indicators, global confidence is declining. Developed economies face stagnation or potential recession. Conversely, emerging markets like China and India exhibit more resilience and growth.

Census Bureau data shows median household income has plummeted to $74,580, marking the third consecutive year of decline. Despite this, economist Paul Krugman touts a thriving economy, contradicting the 71% who perceive economic hardships. Rising costs consistently outpace nominal wage growth, with real wages falling 4% since Biden's inauguration. Krugman's inconsistent views on inflation highlight his detachment from the struggles of average Americans. This economic downturn isn't mere chance but a consequence of deliberate policy decisions.

One-third of individuals earning over $150,000 annually report they can't clear their credit card debt this year. The surge in debt among high-income households is attributed to central banking policies and proponents of monetary expansion.

Over 34 million Americans, including nine million children, are grappling with food insecurity. A recent US Census Bureau survey indicated that in a 12-day study period, over 26 million people couldn't afford sufficient food, marking a nearly 50% rise from 2021, partly due to the cessation of pandemic-era aid. A parallel Feeding America report detailed the pandemic's enduring impact on hunger. It highlighted that 80% of those facing hunger attribute it to inflation and soaring food prices, with 93% fearing worsening conditions. Primary causes included high housing costs, unemployment, health issues, and prevalent low-wage jobs.

U.S. businesses faced significant challenges in 2023, with commercial Chapter 11 bankruptcies rising by 61% to 4,553. Small business filings increased by 41% to 1,419. Overall, commercial sector bankruptcy filings grew by 17% to 18,680. Consumer filings also saw a 17% hike, reaching 313,458, despite previous declines due to pandemic-era financial aid.

The sell-off in precious metals continued as bond yields continued to rise and a strong dollar persisted. In early trade in Europe this morning, gold was $1822, down another $26, unchanged on the year. Silver traded at $21, down $1.17. Comex volumes in both metals declined from good levels, indicating that selling pressure is declining.
Comex deliveries in both metals increased in volume, reflecting the end of the October contract. Including last Friday, 8,735 gold contracts stood for delivery in the last five business days, representing 27.17 tonnes, and 334 silver contracts representing 52 tonnes. This persistent demand for delivery is becoming a must-have source for those turning paper gold and silver into bullion, with 338.25 tonnes of gold and 3,514 tonnes of silver delivered this year so far.
Driving gold and silver lower have been persistently rising bond yields taking markets by surprise. The chart below of the US Treasury 10 year note yield is remarkably bullish — u...

Despite warnings, pundits like Matt Yglesias in the mid-2010s encouraged excessive government borrowing due to low-interest rates. Under subsequent administrations, this led to the U.S. national debt surging past $33 trillion. Today, as U.S. Treasury bond yields skyrocket, the reckoning is apparent: skyrocketing debt rollovers strain the federal budget, and the economy teeters. Ignored cautionary advice now jeopardizes our financial stability; the past's fiscal irresponsibility is catching up.

Signs of an impending financial downturn are emerging, highlighted by the behavior of the yield curve. While some experts remain unconvinced of a looming recession, rising Treasury yields and falling bond prices suggest economic instability. Recent data shows a decline in job creation and market volatility. The shift towards higher interest rates could trigger financial and economic crises, particularly impacting the housing sector. The era of low interest rates and monetary stimulus appears to be ending

The euro is facing its twelfth consecutive week of decline against the strengthening dollar. This is the longest streak since the euro's introduction in 1999. The dollar's surge is backed by a sell-off in U.S. government bonds and strong economic data, among other factors.

Despite the bond yields negatively impacting the stock market, Bill Gross believes it's insufficient. He suggests the market is overvalued and warns that stocks might underperform in an impending economic downturn. Gross is skeptical about the Fed's capacity to manage inflation, which remains above the target.

The fixed-income market is facing what Bank of America Global Research labels the "greatest bond bear market of all time." Yields on 30-year Treasuries have surged above 5% for the first time since 2007, alarming investors. Despite these unsettling trends, Bank of America strategists remain bearish on risk assets, anticipating a hard landing due to rising, prolonged interest rates, suggesting the bear market's end is not in sight.

Surging bond yields have heightened concerns over the Federal Reserve's stance and rising U.S. government debt. The yield on 10-year Treasuries recently hit a 15-year high, surpassing 4.8%. As the Fed signals further rate hikes, the national interest on debt is ballooning. By 2033, interest payments could surpass $1.4 trillion annually. Experts warn of an impending unmanageable budget situation if unchecked.

In September, the US added an impressive 336K jobs, doubling the forecasted 170K and marking the highest monthly increase since January. This was a notable deviation from expectations, marking the first 6-sigma beat in a while. Additionally, both July and August saw upward revisions in job numbers, with a combined increase of 119,000 more than initially reported. While the unemployment rate remained at 3.8%, average hourly earnings rose by 0.2%, reflecting a yearly increase of 4.2%. This rise was attributed to an influx of lower-paying jobs.

The mainstream wasn't just wrong about inflation in 2020. It was wildly wrong. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey dissects a 2020 video produced by CNBC to show just how wrong they were. He explains why they were wrong and teaches some economics along the way. He also discusses the carnage in the bond market and tells you who is buying gold.

With more information coming out and confirming our suspensions, the Nails continue to be added to the U.S. & the Global Oil Industry Coffin.  Using newly updated data from a retired petroleum engineer from Total France, the situation does not look good for the USA and the world...

In August, central banks continued their trend of bolstering gold reserves, marking the third consecutive month of such acquisitions. With a substantial 77t addition, a 38% increase from July, it's evident that central banks globally are leaning into gold as a strategic asset. This consistent demand reinforces the ongoing trend and confidence in the enduring appeal of gold for central banks.

In 2023, gold prices faced a decline, dropping over 10% in six months due to rising interest rates. However, experts at the FT Mining Summit expressed optimism for gold's rebound once the Federal Reserve begins reducing interest rates. John Reade from the World Gold Council believes the current situation offers a prime opportunity for gold investment, predicting rate cuts by the Fed to benefit gold prices. Rhona O’Connell, a market analyst, emphasizes the challenges faced by medium-sized banks, suggesting that potential economic stresses in the U.S. will boost gold investments. The mining industry also showed concerns about insufficient exploration for new mines, indicating a future scarcity that could further elevate gold's value.