Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Gold prices jumped, sending the precious metal toward record highs, after data pointed to moderating price pressures in the U.S. economy.The most-actively traded gold futures contract recently traded around $2,053.10 a troy ounce, up about 12% year to date.
If We Hit $8000 Gold, That Means A Loss of Control & We'll Shoot Straight Past ThatApr 13, 2023 - 10:36:18 PDT
In today’s update, Mike discusses a recent article that makes a compelling case for $8,000/oz gold.
Even above $2,000, gold is so cheap right now, it’s practically a steal.
Gold surged on Thursday as more weak U.S. economic readings bolstered bets for a pause in interest rate hikes, with prospects of a mild recession also sending investors scurrying for the safe-haven.
The new global financial crisis as exemplified by the successive failures of Silvergate Bank, Silicon Valley Bank, Signature Bank, Credit Suisse and the potential failure of First Republic Bank is well underway.
Is the increasingly volatile situation in the US part of a recurring historical cycle?
Shortly after the Fed bailed out the Silicon Valley bank depositors, Reuters reported that Credit Suisse failed....
Poorer Countries across the globe are beginning to face ‘debt default’. Ukraine, Ghana, Sri Lanka, Pakistan, Lebanon, Egypt, Tunisia, Argentina, Kenya and Zambia are in an economic crisis and the US is calling for more restructuring and forgiveness. The vast majority of the debt is owed to China and the IMF...
Apr 13, 2023 - 07:25:07 PDT
“People are worried that the money they’ve saved won’t last and are worried they’re going to have to lean more on their credit cards and other sources of debt just to get by,” said Bruce McClary, a senior vice president at the National Foundation for Credit Counseling.
Apr 13, 2023 - 07:24:18 PDT
Please consider Minutes of the Federal Open Market Committee for March 21–22, 2023.
Federal Reserve economists believe that recent banking turmoil will trigger a mild recession later this year, a potentially ominous sign for President Joe Biden as he heads into an election campaign.
As the country’s largest companies prepare to report their results for the start of the year — offering a view into how the economy is faring as a banking shock reverberates — they’re already warning investors to brace themselves.
Gold and Silver Trade Near Highest in a Year as Fed Rate-Cut Expectations Persist: MWApr 13, 2023 - 05:52:47 PDT
Gold and silver futures trade just shy of the highest level in a year on Thursday as a weaker U.S. dollar and expectations that the Federal Reserve may cut...
Galaxy Digital Holdings Ltd. founder Mike Novogratz said he expects gold, the euro and cryptocurrencies Bitcoin and Ether to outperform competing investments as the Federal Reserve moves toward easing its interest-rate increases after recent bank failures lead to a potential credit crunch.
The dollar fell to a two-month low on Thursday after data showed U.S. inflation slowed sharply in March, bolstering speculation the Federal Reserve's rate hiking campaign is either already finished or will be by May.
After last week's dramatic 'adjustment' to the last year's worth of jobless claims data, the picture is a little more grave than the pre-revision data had proclaimed.
Producer Price Inflation Tumbled In March To Lowest Since Biden Term BeganApr 13, 2023 - 05:47:31 PDT
After yesterday's mixed picture on CPI (cool headline, hotter than expected sticky core), all eyes are on Producer Prices this morning which are expected to be unchanged MoM and tumble notably on a YoY basis. The print was actually considerably cooler than expected with the headline declining 0.5% MoM pushing PPI down to just 2.7% YoY...
The federal deficit topped $1 trillion in the first six months of fiscal 2023 (October through March), according to the Monthly Treasury Statement released today.
The US, China and other major economies need to do more to address debt levels that are set to rise to near-record highs in five years, limiting nations’ ability to respond to future crises, the International Monetary Fund warned.
Big Banks’ Balance Sheets Will Swell After the Recent Turmoil – That Could Be Bad News for AmericansApr 13, 2023 - 05:38:35 PDT
Former Barclays CEO Bob Diamond expects upcoming big bank earnings to provide their shareholders with "a positive surprise" after SVB's collapse.