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Jobs Report: Hiring Expected to Slow in April as Rate Hikes Weigh on GrowthMay 5, 2023 - 05:07:28 PDT
April's jobs data is set to show another slowdown in the US labor market as investors look for signs the Fed will be compelled to end its rate hiking campaign.
Global stock markets were mostly higher Friday ahead of a U.S. jobs update amid worries about the health of banks under pressure from interest rate hikes. London, Frankfurt, Hong Kong and Wall Street futures advanced. Shanghai declined. Markets in Japan and South Korea were closed for holidays. Oil prices advanced. The U.S. government was due to report April employment data...
In 5 days, the COMEX has seen 4,190 contracts open and stand for immediate delivery. This is the strongest start to a month going back at least 2 years, which includes the start of the war in Ukraine and the February 2021 Reddit silver squeeze.
The Federal Reserve raised rates yet again during its May FOMC meeting. Now everybody is trying to decipher the messaging coming out of the Fed to figure out what's next. But what if the words Powell and Company are saying don't really matter? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the latest moves by the Fed and suggests we should focus on the realities over the rhetoric.
The March Trade Deficit decreased for the first time in four months. The total deficit came in at -$64.2B, which is the second smallest deficit since January 2021. This might seem like good news but it's yet another indication of a weakening economy.
May 4, 2023 - 13:02:06 PDT
Peter Grandich, Silver may break ranks and lead the stampede higher...
Gold isn't the only precious metal benefitting from economic uncertainty and the crisis in the banking sector. Silver prices last month climbed to their highest in a year, with room to move higher as the global market for the metal this year looks to post its second largest supply deficit in 20 years.
May 4, 2023 - 12:57:24 PDT
Gold Break Its All Time High Of $2075.19/Ounce To Set A New Record Of $2080.00. The high set in 2020 was taken out in the Asian Session today.
The best-performing precious metal for the week was gold, up 0.38%. Gold prices in India have soared to the highest ever, damping the outlook for demand in the world’s second-biggest consumer. That was especially apparent during the day of Akshaya Tritiya at the weekend, which is considered one of the most auspicious times of the year to buy gold by the nation’s majority Hindu population.
The board of Newcrest Mining is prepared to recommend the latest takeover offer from Newmont, a deal that would create the world’s biggest gold miner.
This blog post will explore the origins of paper money. We'll delve into various civilizations and their contributions to the monetary world of money...
The U.S. banking sector has more than 4,000 FDIC-insured banks that play a crucial role in the country’s economy by securely storing deposits and providing credit in the form of loans.
May 4, 2023 - 12:29:14 PDT
Biden's clean energy push including the ridiculously-named Inflation Reduction Act (IRA)
Recessions don’t come out of the blue. They have a cause—malinvestment encouraged by central bank credit expansion. Artificially low interest rates send a false signal to investors and producers to start, or continue, producing things that either customers don’t actually want—at least not in the quantity now being produced—and/or are unable to be completed with available...
Jay Powell Said the Banking System Is "Sound and Resilient." Now More Banks Are in TroubleMay 4, 2023 - 12:24:23 PDT
There is no clear way out of this for banks, however. The banking sector has become extremely reliant on business models that assume extremely low interest rates. The Fed encouraged this.
Dow Drops 300 Points, Turns Negative for the Year as Bank Fears Grow: Live UpdatesMay 4, 2023 - 12:15:29 PDT
Regional banks led the broader market lower as contagion fears resurfaced.
I can easily see Blackrock sacrificed on the alter of the Great Reset once it’s control over corporate interests has been turned over to the Treasury and the ECB.
Investors would be wise to stay extremely defensive with their asset allocations until the Fed and Treasury are able to adequately re-liquify the financial system. But let’s see them try doing that without causing inflation to run intractable.
Not everyone was happy with the fact that it was JPMorgan who won the bid, however, as it means that the country’s largest, most powerful bank would become even bigger. Moreover, every failed bank that falls into the hands of the industry’s giants contributes to the decades-long consolidation trend in the banking sector, a trend that saw the number of U.S. banks States shrink drastically from its peak in the early 1980s
Join Mike Maloney in today’s banking crisis update - more banks are failing, and gold is reacting…hitting a new all time record high overnight.