Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Global equities were set for a small weekly gain on Friday following a Wall Street rally overnight, as rising bets the Federal Reserve will skip a rate increase next week overshadowed worries about U.S. markets being drained of cash. Traders now lay 73% odds on the Fed keeping rates steady on June 14, in a range of 5%-5.25%
In this episode of the Friday Gold Wrap, host Mike Maharrey engages in a little "I told you so!" discussing a couple of things he got right, including his assertion that the real problems would start after the debt ceiling deal and that it was important to keep your eye on the commercial real estate market. He also talks about the yo-yoing gold price this week.
In our previous article outlining the key players in the precious metals market, we highlighted global central banks as being one of the main driving forces behind gold’s rising demand. The lender of last resort for their respective countries, central banks have been stacking up on gold to meet their financial obligations since the 2007-08 financial crisis. Bloomberg previously reported that banks have been buying the most gold since the United States abandoned the gold standard in 1971.
The price of silver has witnessed a consistent rise backed by demand in various industrial applications. As per a rough estimate, this accounts for half of the annual demand for silver. In fact, demand for physical silver clocked a record high in 2022, buoyed by an all-time high usage for industrial purposes.
India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago.
Gold-backed ETFs and similar products account for a significant part of the gold market, with institutional and individual investors using them to implement many of their investment strategies. Flows in ETFs often highlight short-term and long-term opinions and desires to holding gold. The data on this page tracks gold held in physical form by open-ended ETFs and other products such as close-end funds, and mutual funds. Most funds included in this list are fully backed by physical gold.
Goldman Sachs Group Inc. is planning for a period of sluggish growth and higher inflation, the bank's president John Waldron said on Thursday, calling it "a mini-stagflation scenario." "We're planning for that scenario to be more likely...
Just 65% of American adults always tip their servers at sit-down restaurants, down from 73% a year ago and 77% in 2019.
Jun 8, 2023 - 12:23:14 PDT
Near-empty office buildings, already a problem plaguing US cities, are becoming a worry for mortgage bondholders as landlords fall behind on repayments at the fastest rate in five years and the difficulty of refinancing the loans grows.
Jun 8, 2023 - 12:19:52 PDT
(Bloomberg) -- Treasury Secretary Janet Yellen said Congress’ clawback of more than a quarter of the funding previously approved for a rebuilding of the Internal Revenue Service won’t hinder the agency’s near-term goals to improve service and ramp up enforcement.
Securities and Exchange Commission Chair Gary Gensler Thursday went on the offensive Thursday, saying the giant cryptocurrency exchanges targeted by the SEC had "fair notice" before being sued this week.
A new Washington Post article about Nord Stream throws Ukraine overboard and absolves the United States, offering another version of reality we'll have to strain to take seriously
Investors will be well-served by allocating assets toward cash, gold, and other hard assets. These will be the real winners as the war in Ukraine drags on.
Recently, we have seen governments in the Netherlands, and Canada move to shut down farms under the pretext of climate change.
Jun 8, 2023 - 08:30:53 PDT
As we reported yesterday, Silicon Valley Bank was not even on the “Problem Bank List” maintained by the Federal Deposit Insurance Corporation (FDIC) when it imploded in a span of 48 hours in March. According to testimony by the Federal Reserve’s Vice Chairman for Supervision, Michael Barr, on March 28 before the Senate Banking Committee...
The S.E.C. shared new details about how Binance’s accounts at Signature Bank and Silvergate Bank were used to move customer funds quickly through a web of foreign companies.
SEC’s Gary Gensler Had Crypto in His Sights for Years. Now He’s Suing Binance and Coinbase: WSJJun 8, 2023 - 08:25:38 PDT
Enforcement actions against crypto middlemen Binance and Coinbase could define the SEC chair’s legacy. Agency chair focuses enforcement power on exchanges after earlier failures to subdue industry
"The asymmetry of the surveillance state belies its true purpose: to protect the government, not the people." ~ Robert E. Wright
The result of monetary inflation is clear. Government has more money to work with than they would if there was no money creation. And, as inflation rises, the savings of American citizens, or anyone who holds U.S. dollars for that matter, is eaten away. This is a transfer of wealth from savers to the U.S. government.
With a big grin, former colleague Doug Casey told me, “Sure, you can trust the government!” I raised my eyebrows. He continued. “In the event of a crisis, you can not only trust the government to NOT do the right thing but also to do the exact wrong thing.”