Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The credit market looks alarmingly tight given the outlook of rising interest rates and recession fears. But there are reasons for this.
Gold nudged lower as traders awaited comments from Federal Reserve Chair Jerome Powell for clues on the outlook for US interest rates.
Gold is famous for its rarity and that likely won’t change any time soon. In fact, the global demand for gold hit a decade peak in 2022 while its supply continues its nearly 7-year plateau. So gold is in high demand, but will it run out any time soon? The Earth has a limited amount of gold in its crust and experts are estimating that it may be unsustainable to mine gold by 2050. Compared...
Global gold demand rocketed to a new decade high in 2022 and it wasn’t retail buyers or investment firms driving the increase. It was the central banks. According to a report by the World Gold Council (WGC), central banks purchased the most gold since 1950 in 2022. It revealed that central banks purchased a whopping 1,136 tons of gold in 2022, an incredible 152% increase...
China Says U.S. Relations Have Left ‘Rational Path,’ Warns of Conflict Unless They ‘Hit the Brake'Mar 7, 2023 - 06:05:03 PST
"If the U.S. does not hit the brake but continue to speed down the wrong path, no amount of guardrails can prevent derailing and there will surely be conflict and confrontation," Qin said.
China Says Must Advance Relations With Russia as World Becomes More TurbulentMar 7, 2023 - 06:03:09 PST
China, which has refused to name Russia as the aggressor in the Ukraine conflict, has often criticised the United States for bullying other countries with unilateral sanctions.
China's exports and imports with Russia surged at a double-digit pace in January-February from a year earlier, customs data showed on Tuesday, as China said it had to advance relations with its northern neighbour in an increasingly turbulent world.
Early Retirees Facing Pension Cash Crunch, Warns Bank of England OfficialMar 7, 2023 - 06:00:42 PST
Over-50s who retire early will have to return to the workforce to top up their pensions, a Bank of England policymaker has warned.
It is becoming a lot harder for crypto companies to access dollars to buy digital assets as the network of payment providers shrink in the US.
Brazil Announces Pilot for Digital Currency Seeking to Leverage Financial ServicesMar 7, 2023 - 05:50:01 PST
Brazil's central bank announced the start of a digital currency pilot project on Monday, aiming to replicate the success of its instant payment system Pix to popularize financial services in the country. According to Fabio Araujo, coordinator of the initiative at the bank, the public use of the digital currency should begin at the end of 2024, after the completion of the testing phase...
Spooked by a flurry of hotter-than-expected U.S. economic and inflation data last month, investors are reviving trading strategies that bet on a higher peak in interest rates. The recalibration in inflation expectations has led some investors to bet on a policy rate of 6% or even higher. Risk assets like stocks and corporate bonds that benefited from a months-long...
The dollar’s recovery from a 10-month low has run into a speed bump, with the rally in the currency trailing behind the sizzling surge in Treasury yields.
Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S. economy would reach a technical recession starting in the third quarter. Moynihan told The Financial Review's Business Summit in Sydney a U.S. recession would not be deep and the bank forecast interest rates would start falling in the second quarter of 2024.
After Steep Climb in Rates, Latam Central Banks Show No Signs of ReversalMar 7, 2023 - 05:42:07 PST
Latin American central banks have dashed hopes that they will back off sky-high benchmark interest rates, amid stubbornly high inflation, expected further tightening by the U.S Federal Reserve, and political risks in some cases. Latin American central banks were often in the vanguard of the global battle to quash inflation, with rate hikes totaling over 1,000 basis points...
In a new study, a 5% drop in the S&P 500 is seen snowballing another 20% in the worst-case scenario of thin trading, in the extreme event all traders offload their holdings of zero-day-to-expiration options, known as 0DTE.
Canadian consumers suddenly must come up with more money for their abruptly higher monthly payments, either by tightening their belts or liquidating assets. How they fare could offer clues to whether the rapid-fire interest rate hikes by central banks globally have further to go, or if they’ve already gone too far.
U.S. President Joe Biden will propose raising the Medicare tax on high earners to help keep the federal insurance program solvent as part of his budget to be released on Thursday, the White House said. The tax increase is part of a package of proposals aimed at extending the solvency of the Medicare’s Hospital Insurance (HI) Trust Fund by at least 25 years, the White House said.
China's economy will be forced to recalibrate because of a "fractured" global order, and the new drivers of growth will "disappoint" global markets, according to David Roche.
Wait a minute - surely the question should be the other way around? Actually....no! Join Mike Maloney in this fascinating thought experiment based on information from his latest book The Great Gold & Silver Rush of the 21st Century.
Fed’s Powell, in Hill Appearance, to Update Views on Status of ‘Disinflation'Mar 7, 2023 - 05:25:11 PST
At his last press conference U.S. Federal Reserve Chair Jerome Powell said confidently a "disinflationary process" had begun, showing a "gratifying" corner had been turned even as he pledged the central bank's fight against rising prices was not over. But inflation data since his Feb. 1 remarks has moved in the other direction - an inflation "surprise" index from Citigroup rose...