Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The US yield curve is set to invert even further, barring a rapid drop in inflation, according to Greg Peters, co-chief investment officer at PGIM Fixed Income.
Cleveland Fed’s Mester Sees Rates Above 5% Amid ‘Too High and Too Stubborn’ InflationApr 5, 2023 - 05:40:11 PDT
Fed officials continue to talk up the need for higher rates as inflation remains elevated and the most acute pressures from March's bank crisis show signs of easing.
Following yesterday's ugly JOLTS data, and the employment weakness under the surface in the ISM Manufacturing report, expectations were still for just a small slowdown in job additions in March (+210k exp vs +242k in Feb). However, as JOLTS and ISM hinted at, things are changing fast and ADP printed just +145k (a big miss)
Global Markets Stumbled on Wednesday as Signs That the Economic Outlook Is WeakeningApr 5, 2023 - 05:34:00 PDT
World stocks stumbled on Wednesday as signs that the economic outlook is weakening spurred some caution, while the dollar edged back from two-month lows.
Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).
Yesterday (April 5) marked the anniversary 0f the signing of Executive Order 6102 by President Franklin D. Roosevelt. It was touted as a measure to stop gold hoarding, but it was in reality, an attempt to remove gold from public hands.Many people refer to EO-6102 as a gold confiscation order. But confiscation is probably not the best word for what happened in practice.
The February Trade Deficit increased for the third month in a row, rising by $1.9 billion. Net Goods came in at -$92.9B with Net Services at $22.4B to reach a total of -$70.5B.
BRICS Nations Developing "New Currency" as Quest for Global De-Dollarization AcceleratesApril 5, 2023
China and Brazil recently finalized a trade deal in their own currencies completely bypassing the dollar, but that's not the only bad news for the world's reserve currency.Last week, a Russian official announced that the BRICS nations are working to develop a "new currency," yet another sign that dollar dominance is waning.
Most people in the mainstream seem to think that the recent bank bailout plugged the crack in the dam and stabilized the banking sector. But one big bank boss disagrees. In an annual letter, JP Morgan Chase CEO Jamie Dimon said that the banking crisis isn't over and that we will feel its repercussions for years to come.
Gold prices are headed toward record highs Tuesday—and they might not stop there.
Silver moved towards the $25.00 level as traders focused on weaker dollar and falling Treasury yields. It should be noted that silver managed to get above the important resistance area at $24.00 – $24.50, so a potential short squeeze may serve as an additional positive catalyst for silver markets.
Gold’s latest run-up after a one-week hiatus to a four-week rally is “a sign that traders are not budging from their view that U.S. interest rates are at or near their peak and expect them to fall this year,” said Craig Erlam, analyst at online trading platform OANDA.
Apr 4, 2023 - 12:34:22 PDT
Major stock market indexes slipped further at the noon hour Tuesday, trading near the lows of the day. The labor market finally showed signs of slowing after months of Fed tightening.
Apr 4, 2023 - 12:29:30 PDT
The Internal Revenue Service will unveil its long-awaited 10-year spending plan for $80 billion in new funding to beef up enforcement and taxpayer services, U.S. Treasury Secretary Janet Yellen said on Tuesday, promising major investments in new technology and services. In prepared remarks at the swearing-in ceremony of new IRS Commissioner Danny Werfel, Yellen said...
American workers are keeping large chunks of their retirement savings in cash to protect themselves from another slump in the stock market.
Manhattan real estate sales fell 38% in the first quarter, as buyers and sellers battled over prices and mortgage rates remained volatile.
Apartments have been the second-worst performing type of real estate in the U.S. after offices over the past year.
Here Are 7 Signs That Global De-Dollarization Has Just Shifted Into OverdriveApr 4, 2023 - 12:17:01 PDT
This is a story of monumental importance, but unfortunately most Americans still believe that our leaders know exactly what they are doing and that they have everything fully under control.
Gold prices remain elevated as inflation, political differences, and the prospect of international war radiate on the horizon.
As Mike points out in today’s video, you can’t wait until the last minute and expect your gold and silver portfolio to help you. The markets just don’t work like that.