Precious metals news

The move comes just weeks after rival JPMorgan Chase & Co. cut hundreds of mortgage employees. Goldman Sachs Group Inc., for its part, embarked on one of its biggest rounds of job cuts ever in January when it planned to eliminate thousands of positions across the company.

A trillion-dollar boost to asset prices. In a research note shared with clients last month, Matt King, a global markets strategist at Citigroup Inc., detailed how the world’s largest central banks had recently injected $1 trillion into the global financial system.

The US 30-year yield rose to the highest level since November, joining the rest of the Treasury market in offering investors a return of at least 4% after another batch of strong labor-market data.

Bitcoin dropped to the lowest level in about two weeks, part of a wider retreat in crypto markets as investors digested the unraveling of a key industry payments network.

Inflation in Tokyo decelerated for the first time in more than a year, as ramped-up government subsidies masked a strengthening price trend that will keep scrutiny on the Bank of Japan’s policy path under the likely leadership of Kazuo Ueda.

It’s a time-honored tale. A new force enters the market — quantitative easing, leveraged ETFs, high-frequency trading — and a cottage industry on Wall Street is born devoted to exposing the risks it supposedly poses for investors.

China’s central bank Governor Yi Gang signaled monetary policy will largely be stable this year, saying interest rates in the economy are appropriate, inflation will remain under control and the currency’s volatility wasn’t a concern. Most Read from BloombergIsrael’s Window to Strike Iran Narrows as Putin Enters EquationTycoon Deripaska Warns Russia May Run Out of Money in 2024Americans Need to Be Richer Than Ever to Buy Their First HomeFed Event Scrapped After Participant Shows P

European Central Bank Vice President Luis de Guindos said underlying price pressures will be an important factor for future monetary-policy decisions.

Home improvement retailers are feeling pressure from investors as questions arise about the housing market.

Atlanta Fed president Raphael Bostic said Thursday he is open to raising rates further amid signs the economy remains strong, adding that he is targeting this summer for the Fed to end its interest rate increases.

To the day ahead now, and data releases include the global services and composite PMIs for February, and the ISM services index from the US. We’ll also get the Euro Area PPI reading for January. From central banks, we’ll hear from the Fed’s Logan, Bostic and Bowman, as well as ECB Vice President de Guindos, and the ECB’s Holzmann, Vasle, Muller and Wunsch. Finally in the political sphere, US President Biden and German Chancellor Scholz will be meeting at the White House.

Despite the hotter-than-expected CPI data for January, most people still seem confident that the Federal Reserve can win the inflation fight, drive CPI back to 2% in relatively short order, and then return to the easy monetary policy we all have come to expect. Friday Gold Wrap host Mike Maharrey does not share this optimism. In this episode, he outlines three reasons the Fed won't win the inflation fight.

With the Wind Industry in serious financial trouble, all hopes are focused on going really Big... actually, GARGANTUAN.  Vestas is now testing its massive V-236 15 MW Wind Turbine that will provide power for 20,000 homes.  Unfortunately, will high fossil fuel prices Kill the Wind Industry...

According to reports, the 24-carat devices, worth £175,000, have the player’s names, numbers and the Argentinian logo engraved on them.

Silver led the recovery in response to the China PMI report as it gave an even bigger boost to the industrial metal sector. The gold-silver ratio which yesterday hit a four-month high at 88.4 (ounces of silver to one ounce of gold) has since retraced to around 87 and in order to signal a proper reversal the XAUXAG ratio needs to break the uptrend from the December low, currently around 85.35. From a technical perspective, gold and silver as a minimum need to retrace 38.2% of the recent correction to signal an end to the current correction, in gold above $1864, and silver above $22.

Central bank gold demand in 2023 picked up from where it left off in 2022. In January, central banks collectively added a net 31t to global gold reserves  (+16% m-o-m).\

Over one hundred years ago, Austrian economist Ludwig von Mises discovered what causes the boom-bust business cycle. As Mises explained, the boom is caused by central and commercial banks creating money out of thin air.

The argument minimizing the risk of a war between major powers – that today’s globalized, interconnected world has too much at stake to risk a seismic unraveling – is painfully familiar. It is the same argument that was made in the early twentieth century, when the first wave of globalization was at its peak.

When profits are generated largely by accountants it may be time to worry about the economy.

The basics of middle-class life are too expensive. But more subsidies won't help.