Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
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.
Newton Fund Manager Says New Reality Warrants Central Bank 3% Inflation GoalApr 4, 2023 - 05:32:14 PDT
Investors should prepare for a world of higher price growth in the years to come, which will eventually force central banks to lift their inflation targets to 3%, according to a portfolio manager at Newton Investment Management.
The Bank of England will probably need to start cutting interest rates sooner than previously thought after raising them sharply in recent months despite signs of weaker inflation pressures, monetary policymaker Silvana Tenreyro said on Tuesday.
Apr 4, 2023 - 05:26:51 PDT
Banks in the European Union must be "conservative" with dividends and other payouts after recent turmoil in the sector, and focus on keeping their cash buffers topped up, the European Union's banking watchdog has told Reuters.
Silicon Valley Bank’s blunders were encouraged by US regulation, went untested by the Federal Reserve and were “hiding in plain sight” until Wall Street and depositors grew alarmed.
Apr 4, 2023 - 05:25:57 PDT
Storm clouds are still threatening the economy as they did a year ago, said Dimon, the chief executive of the largest U.S. lender. And the banking system is under renewed stress after the failure of Silicon Valley Bank and Credit Suisse's rescue by UBS last month.
A risk-on mood fueling this year’s equities rally is likely to falter, with headwinds from bank turbulence, an oil shock and slowing growth poised to send stocks back toward their 2022 lows, according to JPMorgan strategist Marko Kolanovic.
Undaunted By Market Meltup, Wilson And Kolanovic Double Down On Doom, See Stocks Retesting 2022 LowsApr 4, 2023 - 05:23:20 PDT
Demonstrating a remarkable and enviable stubborness to continue being wrong in the face of a market meltup that will extend for as long as the Fed is once again injecting hundreds of billions of liquidity to offset the panic that it itself caused by hiking too fast and sending a bunch of regional banks to an early grave a few weeks ago...
Stock Futures, Oil Prices Edge Higher Ahead of Jolts Job Openings and Factory Orders DataApr 4, 2023 - 05:21:11 PDT
The S&P 500 closed up 0.4% on Monday. The biggest laggard was the Nasdaq 100, which fell 0.27%. Bond yields were down as manufacturing activity slumped to the lowest level since May 2020, signaling further declines could be coming as credit conditions tighten.
There's no sign of a slowdown in central bank gold buying.In February, central bank gold reserves rose by another 52 tons, according to the latest data compiled by the World Gold Council.It was the 11th straight month of central bank net gold purchases.