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Chinese buyers are scooping up U.S. oil in a hurry, trying to take advantage of a “remarkable, profitable arbitrage” opportunity sparked by Biden’s SPR releases...
Money managers are fortifying portfolios and hedging the risk of a prolonged inflation fight by sticking to credit maturing in just a few years.
The request comes after commercial banks wired a net $2.3 billion to deposit accounts abroad in the first six weeks of the year, one of the people said, asking not to be named because the information is confidential. Hard-currency outflows are hampering efforts to keep the lira stable and inflation in check in the run-up to elections slated for May.
Chinese President Xi Jinping is set to bring decision-making of the financial system further under his control with the likely revival of a powerful committee to coordinate financial policy and the possible appointment of a key ally in a top position at the central bank.
The People’s Bank of China may have two new officials leading the central bank following a reshuffle of government positions next month.
Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said on Friday the central bank must maintain ultra-low interest rates to support the fragile economy, warning of the dangers of responding to cost-driven inflation with monetary tightening. While signalling the chance of tweaking the BOJ's bond yield curve control (YCC) in the future, Ueda said the bank needed...
Global stocks and US stock-index futures fell as investors braced for data that may show accelerating inflation in the world’s largest economy. The dollar rose amid concern over disappointing earnings and geopolitical tensions.
Investors Are Dumping Equities and Cash Amid Fears of Hawkish Fed, BofA SaysFeb 24, 2023 - 05:15:14 PST
Investors are dumping equities and cash alike in favor of bonds as they position for the risk that the Federal Reserve persists with hawkish policy moves, Bank of America Corp. strategists said.
World shares limped toward their biggest weekly fall of the year on Friday, though investors took heart from a dip in government bond yields as the incoming Bank of Japan chief ruled out an early end to its super-easy monetary policy.
Comex Update: Palladium Contracts Represent 280% of Available Metal with 2 Days to GoFebruary 24, 2023
Gold deliveries in February came in quite low for a major month, totaling only 15,055. This is the lowest month going back to February 2020 (pre-Covid). The chart below shows the big spike in deliveries seen after Covid started. While the current month is still above any pre-Covid month, it is small when compared to some of the major delivery months seen recently.
The Federal Reserve came close but still fell short of its $95 billion per month balance sheet reduction target through the last full week in February. This means the Fed has fallen short in 8 of the last 9 months.And with rising interest rates coupled with even this modest balance sheet reduction, the Fed is also bleeding money.
Why should you own gold in your investment portfolio? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about some reasons to own gold, including its historical wealth-preserving qualities and its role as a safe haven. He also talks about a new buzzword central bankers and politicians are using to make inflation seem less bad.
A Major RED FLAG for Precious Metals Investors has arrived, which I discuss in this new video report. Unfortunately, one well-known stock in the precious metals community is one that I WOULD STAND CLEAR OF. This is a MUST-SEE Report for all SRSrocco Subscribers...
US Legislators Introduce Bill That Would Prohibit Creation Of An American CBDCFeb 23, 2023 - 13:35:01 PST
The bill, titled the “CBDC Anti-Surveillance State Act” details that “Except as specifically authorized under this Act, a Federal Reserve bank may not offer products or services directly to an individual, or maintain an account on behalf of an individual, or issue a central bank digital currency directly to an individual.” It goes on to further detail specifically that “The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use any central bank digital currency to implement monetary policy."
After a long period of consolidation, the bull market for gold prices may be poised to resume.
Feb 23, 2023 - 13:23:15 PST
On the heels of overwhelming votes to remove all taxes from purchases of precious metals in Mississippi, legislators in Vermont have introduced a measure to curtail the controversial tax in their own state.
Feb 23, 2023 - 13:22:42 PST
The trend across the nation is to eliminate taxes on precious metals. The state of Louisiana and Ohio both experimented briefly with reimposing sales taxes on precious metals purchases. They both quickly reversed course..
Gold is nearing its strongest buy signal in four months as the U.S. dollar eases off a rally that’s carried the greenback to its highest point since early January. According to the 14-day relative strength index (RSI), gold was at its most oversold level since October 2022 at the end of last week, indicating it […]
Iraq is the latest nation in the Global South to move away from the US dollar in bilateral trade with China
Quietly and off most people’s radar screens, US residential fixed investment (home building) has slumped by 20 percent in the past year – a rate of decline that puts it on a par with the major housing recessions of 1990, 1980, 1973, 1965, and 1951.