Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The question of when the US could default will come into sharp relief this week when the Treasury reveals how big its tax take is likely to be.
To sum it up for No. 700, our precious metals have had a significant run of late. From Gold’s year-to-date low of 1811 on 28 February, today at 2018 ’tis +11%. Similarly, for Silver, her year-to-date low was just back on 10 March at 19.95 and today at 25.47 she’s +28% higher: that’s in just 25 trading days! Brava Sister Silver! To be sure some lower prices may ensue, but hardly do we believe these rallies are through.
Gold rose but prices were off one-year highs hit last week, as mixed economic data prompted investors to reassess the Fed's interest rate hike trajectory.
Recession Risk Grows After Money Supply Shrinks At Fastest Pace Since Great DepressionApr 17, 2023 - 06:07:39 PDT
The U.S. money supply contracted for the third consecutive month, and is declining at the fastest pace since the Great Depression, new Federal Reserve data show.
The Bank of England is considering an overhaul of its deposit guarantee scheme, including boosting the amount covered for businesses and forcing banks to pre-fund the system to a greater extent to ensure faster access to cash when a lender collapses.
However, the dollar’s hegemony now faces increasing challenges, and its importance is waning. The rise of China and the European Union has led to the growing use of alternative currencies, which has weakened the dollar’s global dominance.
Much ink has been spilled over the IMF’s recent forecast that the UK economy will be the worst performer among the G7 this year. Yet its forecasting record on such matters is not good.
The European Central Bank should stop relying on banks' self-assessments when setting capital requirements and do its own homework instead, independent experts said on Monday. It was the most notable recommendation in a report commissioned by the ECB to evaluate its work on the key task as the euro zone's top financial supervisor, namely to decide how much capital banks...
Japan's new central bank Governor Kazuo Ueda gave a clear message to policymakers gathered for global finance meetings here over the last week: The country will remain a dovish outlier by keeping interest rates ultra-low - at least for now. Since taking the helm a week ago, Ueda has dropped some hints the massive stimulus of his dovish predecessor Haruhiko Kuroda will...
Charles Schwab (SCHW) on Monday said it lost $41 billion in deposits in the first three months of 2023, offering investors the first detailed look at how a firm at the center of last month’s banking crisis navigated the tumult.
Turmoil across the banking sector, sparked by the collapse of Silicon Valley Bank, has ignited fresh doubts among investors over the outlook for interest rates and bond yields — at a time when inflationary pressures globally remain uncomfortably high.
Apr 17, 2023 - 05:42:38 PDT
China injected the least amount of medium-term cash into the banking system since November, a sign that policymakers are watching the effects of past easing steps as the nation’s economic recovery appears to be on track.
The U.S. warship USS Milius sailed through the Taiwan Strait on Sunday, in what the U.S. Navy described on Monday as a "routine" transit, just days after China ended its latest war games around the island.
Russian President Vladimir Putin has met with China’s defense minister in Moscow. Sunday's meeting underscored China's strengthening engagement with Russia. China has largely aligned its foreign policy with Russia in an attempt to diminish the influence of the United States and other Western democracies. Putin and Russian Defense Minister Sergei Shoigu met with...
Americans Are Struggling to Pay Off Their Car Loans. Three Charts Explain WhyApr 17, 2023 - 05:37:47 PDT
Along with soaring car prices, loan rates are the most expensive they’ve been in more than 15 years, with the average monthly payment on a new car at an all-time high, new data from auto website Edmunds shows.
It’s that time of year when throngs of taxpayers are buckling down to file their income tax returns before Tuesday’s filing deadline, and many often pay to use software from private companies such as Intuit and H&R Block. Almost one-quarter of Americans wait until the last minute to file their taxes. There could be a new, free option in future years. The IRS has been tasked with...
Banks in the Middle East and Central Asia have very limited exposure to last month's banking turmoil in the United States and Europe, but financial pressures are adding to strains caused by high interest rates, volatile oil prices and years of double-digit inflation, a top IMF official said on Saturday.
Small and midsize banks lost hundreds of billions of dollars in recent weeks to their bigger peers and to money-market funds offering higher yields.
Some of the largest U.S. banks singled out office commercial real estate on Friday as an area of growing concern, with property values falling and more borrowers defaulting on their loans amid rising interest rates and a slowing economy.
The underpinnings of the financial system and corporate funding are still thawing after last month’s banking crisis.