Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Statista's Anna Fleck reports that, as of September 2022 (the latest available data), the country saw an increase of 110.4 percent from the same month of 2021. Argentina had the second highest food inflation rate, at 86.6 percent.
The US federal budget is haemorrhaging money. The non-partisan Congressional Budget Office calculates that in the first seven months of the 2023 fiscal year, underlying government revenues are down 10 per cent with spending up 12 per cent. This leaves the federal budget deficit more than three times larger than in the same months of the 2022 fiscal year.
Gold giant Newmont Corp. secured a A$28.8 billion ($19.2 billion) deal to buy Australian rival Newcrest Mining Ltd., consolidating its position as the world’s biggest bullion producer with mines across the Americas, Africa, Australia and Papua New Guinea.
Zimbabwe Is Launching Gold-Backed Digital Tokens: What You Need to Know: MWMay 15, 2023 - 07:57:27 PDT
Zimbabwe is looking to gold to “expand value-preserving instruments,” launching a gold-backed digital currency last week as the nation suffers from hyperinflation and its currency continues to diminish in value.
Gold prices rose on Monday as the U.S. debt ceiling stalemate and concerns over an economic slowdown steered some traders towards the safe-haven metal.
The U.S. dollar fell slightly from a five-week high on Monday after a period of strength that has confused analysts.
President Joe Biden, House Speaker Kevin McCarthy and other congressional leaders are planning to meet Tuesday to discuss budget negotiations to avoid a default.
The financial industry has prepared for such a crisis before. But this time, the relatively short time frame for reaching a compromise has bankers on edge.
Banking regulators have been pushed by market volatility in recent weeks into doing things that they haven't really wanted to do, like letting the largest U.S. bank get even bigger. Their hand may be forced again.
Federal Reserve Bank of Atlanta President Raphael Bostic pushed back against bets in financial markets that the central bank will cut interest rates this year and cautioned against taking further hikes off the table if inflation doesn’t cool.
Media company Vice Media LLC and KKR’s Envision Healthcare Corp. were among at least seven firms filing for US Chapter 11 bankruptcy protection in the past 24 hours as companies feel the crunch from a year of interest hikes.
China's central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged on Monday, as expected, but markets expect monetary easing may be inevitable in the coming months to support the economic recovery.
The European Commission raised its euro-zone inflation outlook and warned of “persistent challenges” even as it acknowledged the resilience of the region’s economy.
China and Russia Are Increasing Their Military Collaboration, Japan’s Foreign Minister WarnsMay 15, 2023 - 05:52:52 PDT
Japanese Foreign Minister Yoshimasa Hayashi has expressed concern about Russian and Chinese military cooperation in Asia, saying the security situation in Europe could not be separated from that in the Indo-Pacific region since Moscow’s full-scale invasion of Ukraine.
Treasury traders will be on high alert in the coming week for signs out of Washington on whether the US will careen toward a market-upending default — or will clinch a last-gasp debt deal once again.
Howard Marks, the co-founder of $172bn investment group Oaktree Capital Management, has warned that the boom in private credit will soon be tested as higher interest rates and slower economic growth heap pressure on corporate America.
As the US economy teeters on the brink of recession, Wall Street is already enduring what could turn out to be the most prolonged corporate profits downturn in seven years.
Global policymakers are forced to grapple with a potential default by the world's largest economy.
Treasury Secretary Janet Yellen will update Congress on how close the US is to defaulting on its financial obligations within the next two weeks and defended the steep rise of debt issuance under the Biden administration.
In Debt Ceiling Standoff, COVID Era of Big Spending Gives Way to New Focus on DeficitMay 15, 2023 - 05:44:03 PDT
One outcome is clear as Washington reaches for a budget deal in the debt ceiling standoff. The ambitious COVID-19 era of government spending is giving way to a new focus on stemming deficits. As President Joe Biden and congressional leaders prepare to meet again soon, their staffs are working on a budget deal.