Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
We have printed trillions and trillions of dollars. Prices will not be able to be suppressed. Fundamentals are regaining control. Silver bottomed well before gold...
Apr 4, 2023 - 08:21:15 PDT
Within this pattern, Silver formed a bullish candlestick last quarter at (1) with its price closing at the upper end of the long-term narrowing pattern at. If bulls can follow through with another strong quarter, we may see a bullish breakout for Silver and a “Hi Yo” celebration for metals bulls.
Gold price jumped above $2,010 following the release of US economic data reaching the highest level since March of last year. XAU/USD is rising 1% so far on Tuesday, boosted by a weaker US Dollar and lower US Treasury bond yields.
The “Extraordinary Measures” that the Government Uses in the Debt-Ceiling Farce to Delay a DefaultApr 4, 2023 - 07:48:19 PDT
The government can manipulate the gross national debt to keep it below the debt ceiling while issuing new debt. But not for long. Then the game is over.
Status of US Dollar as Global Reserve Currency and Exchange Rates: Slow Long-Term Decline on TrackApr 4, 2023 - 07:47:31 PDT
The share of the US-dollar as global reserve currency dropped to 58.4% at the end of Q4, according to the IMF’s new COFER data. This was the dollar’s lowest share of global reserve currencies since 1994.
Labor Market Finally Cracks: Job Openings, Hires Crash To Lowest Since May 2021, Miss Every EstimateApr 4, 2023 - 07:46:16 PDT
For months we have been warning that at a time when the US economy is careening into a hard landing recession, the manipulated, seasonally-adjusted, and politically goalseeked job openings data released as part of the DOL's JOLTS report is sheer rubbish (see "US Job Openings Far Lower Than Reported By Department Of Labor"; "Handle The JOLTS Data With Care", ...
Job Openings Tumbled Below 10 Million in February, Well Below ExpectationsApr 4, 2023 - 07:21:02 PDT
Job openings fell below 10 million February for the first time in nearly two years, in a sign that the Federal Reserve's efforts to slow the labor market may be having some impact.
After January's headline factory orders tumbled MoM (following December's unexpectedly large jump), consensus estimates are for February to see a further (0.5%) decline (which would fit with the declining ISM data yesterday). However, Feb Factory Orders tumbled 0.7% MoM (and worse still, January was revised down to a 2.1% decline)...
‘I Am Truly Sorry’: Credit Suisse Chair Pleads With Angry Shareholders at Annual MeetingApr 4, 2023 - 07:09:12 PDT
A police presence was established outside the Credit Suisse annual meeting as shareholders began arriving in droves.
First it was the Bank of Canada which in January announced it would pause its rate hike campaign; then overnight the RBA became the second bank to join the bandwagon when it put its year-long hiking campaign on pause after leaving the cash rate unchanged at 3.6% at April's Board meeting, marking the first pause since the RBA starting raising rates in May 2022.
The release of the research comes a week before the IMF and World Bank convene a semi-annual gathering of central bankers and finance ministers in Washington, amid the fallout from last month's failures of American and European banks. According to the IMF paper, this has driven trillions of dollars of financial assets into the hands of hedge funds, insurance companies...
Gold appears to be well-positioned for a strong pump that could carry it to new all-time high prices in 2023—and beyond. As you know, I’ve been following and writing about the precious metal market for a very long time, and I see a number of unique catalysts at the moment that could contribute to higher gold prices. If you’re underexposed or have no exposure, time could be running out to get in at these prices.
America has officially descended from Ronald Reagan’s “shining city upon the hill” to a banana republic on par with Cuba, Venezuela, or the former Soviet Union. Elected officials from both parties have no interest in slowing America’s decline and most are cheering it on.
The US Federal Reserve's growing list of policymaking, supervisory, and communications failures is becoming increasingly consequential not just for Americans but also for the rest of the world. The global economy's single most important institution has lost its way and must urgently address two structural deficiencies.
Apr 4, 2023 - 05:45:25 PDT
The dollar was testing a two-month low against its major partners early on Tuesday, still under pressure after weak data from the manufacturing sector on Monday that encouraged hopes of an early 'pivot' from the Federal Reserve.
China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow.
Credit Suisse Group AG faced imminent failure if it hadn’t been sold to UBS Group AG in an emergency rescue last month, according to the Swiss central bank.
Analysts at the firm highlight $3.2 billion of outflows from U.S. equities, marking the first net sale by the broker’s clients in five weeks. Investors were mostly selling single stocks, the analysts wrote in a regular weekly note on client flow trends.
Bond bulls certain that central banks will soon call an end to rate hikes despite still-elevated inflation face key tests as South Pacific policymakers kick off April’s bout of monetary decisions.
Sweden’s biggest pension fund Alecta has put its equities chief on leave and announced a plan to reduce risk exposure after reporting $2 billion in investment losses tied to last month’s US banking crisis.