Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Global gold production has grown exponentially since the 1800s, with 86% of all above-ground gold mined in the last 200 years.
Apr 28, 2023 - 13:06:29 PDT
Since their peak in June 2022, commodity prices have seen their biggest decline since the global economy ground to a halt at the start of the COVID-19 pandemic, according to the latest report from the World Bank.
Gold prices are up about 9.5% ytd, helped by solid central bank demand and financial investors returning to the market. Central bank gold purchases hit the highest level on record in 2022, with recent surveys suggesting they will keep buying gold this year too. We forecast gold prices to touch USD 2,200/oz by end-March 2024 and recommend holding gold as a portfolio hedge.
The Central Bank accumulated another 17.3 tonnes in March. Gold buying for the first quarter of 2023 reaches 68.7 tonnes. Total golden reserves stand at 222.4 tonnes.
I’m convinced short sellers on SLV short the shares for the precise purpose of evading depositing the required metal to avoid putting upward price pressure on silver and the shares of SLV. That’s why I have never hesitated in lodging formal complaints with the S.E.C. and BlackRock...
Caring for both their children and their aging parents, millennials are now the most likely generation to feel financially strained.
The US economy was slowing even before the brunt of any credit crunch stemming from the recent bank failures, while inflation accelerated, highlighting the enormous challenge faced by the Federal Reserve.
Apr 28, 2023 - 12:38:37 PDT
The Employment Cost Index for the 3-month period ending in March jumped 1.2 percent for civilian workers and 1.1 percent for government workers.
Japan just reported inflation of 3.5%. This is a big deal. Why? First and foremost, it’s significantly higher than expectations: 3.5% vs 3.2%. Secondly, it shows that inflation is turning back upwards in Japan. Last month’s …
It's a Good Thing for Ordinary Americans If the US Loses Reserve Currency StatusApr 28, 2023 - 12:23:04 PDT
Earlier this month, Larry Kudlow insisted that it is "it's incumbent on the U.S. government, no matter who's in power, to maintain the reserve currency status of the dollar." Kudlow laments that a toppling of the dollar from that perch "seems to be the direction we're going in." Kudlow's remarks came a day after Donald Trump declared that China is trying to displace the U.S.
The yen is copping it after the Bank of Japan left its policy settings unchanged as expected, though there was a clear inkling from the statement that change may be in the air.
With the United States still trying to get its arms around some recent bank defaults, the next shoe to drop could be the commercial real estate market.
Four months before the second-largest bank failure in U.S. history, key banking regulators worried about the dangers large regional lenders posed to financial stability, according to records from an advisory meeting reviewed by Reuters.
The Bank of England estimated on Friday that its quantitative easing programme would rack up a total financial loss of around 100 billion pounds ($125 billion) by 2033, which will need to be funded by the government.
Apr 28, 2023 - 08:13:55 PDT
Regulations designed by banks to shield their interests will never be enough to halt banking crises, an economist warns.
First Republic Shares are halted for volatility having collapsed 25% back to record lows as hopes of a 'private' deal fade...
Fed’s Balance Sheet Plunges $171 Billion in Five Weeks since Peak Bank Bailout as QT Continues and Liquidity Support CoolsApr 28, 2023 - 07:50:35 PDT
First Republic, is this you?
Spring Selling Season Already Goes to Heck, Pending Home Sales Plunge. Banking Crisis to Blame?Apr 28, 2023 - 07:49:31 PDT
A harbinger for closed sales in April and May.
Apr 28, 2023 - 07:42:46 PDT
Please consider Penn Wharton's update to the Budgetary Cost of Climate and energy provisions in the Inflation Reduction Act.
A busy end to the week for macro appears to be settling the narrative that we are facing stagflationary pressures as growth slows but inflation signals remain far stickier than expected.