Precious metals news

US futures and global equities extended Thursday's selloff as a global wave of risk aversion swept across the markets after two of the Fed's most hawkish (nonvoting) policymakers - Loretta Mester and James Bullard - signaled they may favor returning to bigger, 50bps rate hikes in the future, while European Central Bank Executive Board member Isabel Schnabel also warned that markets may be underestimating inflation, and the risk that the ECB “may have to act more forcefully” against it. S&P 500 futures fell 0.7% as of 7:30 a.m. in New York as the risk-off tone continues with MegaCap Tech underperforming, Nasdaq 100 contracts slide 0.9%.

Individual investors have been snapping up stocks at the fastest pace ever as U.S. equity markets charge higher this year.

BofA declined to comment on the report. Global banks including Goldman Sachs and Morgan Stanley are in the process of cutting thousands of jobs as profits at lucrative investment banking units come under pressure, according to a Reuters tally.

Long extensions of debt beyond current maturity dates are among the options Group of 20 nations and others are considering to help poor countries relieve the stress of unmanageable debt burdens, World Bank President David Malpass said.

Norway's central bank governor on Thursday said the economy was "operating above potential" and that there should be no doubt that Norges Bank will bring down soaring consumer price inflation, which is running at its highest level in decades. In her first annual policy address since taking office last year, Ida Wolden Bache said Norges Bank's rate hikes were aimed at "softening...

\Japan will start a pilot programme in April to test the use of a digital yen, its central bank said on Friday, joining a growing number of countries seeking to catch up with front-runner China in launching a central bank digital currency (CBDC). The widely expected move follows two years of experiments that the Bank of Japan (BOJ) has been conducting to decide whether to issue...

]The dollar advanced against all major peers Friday, with a gauge of the currency wiping out its losses for the year, on growing bets for more Federal Reserve rate hikes.

St. Louis Fed President James Bullard on Thursday said more interest-rate hikes would help inflation to move lower this year.

One of the European Central Bank’s most senior officials said that investors risk underestimating the persistence of inflation, and the response needed to bring it under control.

The delayed arrival of a US recession will weigh on stocks in the second half of the year, according to Bank of America Corp. strategists, who say a resilient economy thus far means interest rates will stay higher for longer.

German bonds erased losses and money markets trimmed bets on further European Central Bank tightening after Bank of France Governor Francois Villeroy de Galhau said rate bets have been excessively volatile.

It's getting harder for Americans to make ends meet without dipping into their cash reserves, a new report finds.

Worker burnout-- are you burned out? Well, levels have reached a new high according to one recent survey. The Future Forum polling more than 10,000 workers around the world, and 42% of them say they're feeling mentally and physically exhausted due to stress at work.

Oil fell almost 3% on Friday and was on course for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply. Brent crude futures were down $2.37, or 2.8%, to $82.77 a barrel by 1145 GMT, while West Texas Intermediate (WTI) U.S. crude fell $2.07, or 2.6%, to $76.42. Various signs of ample supply also weighed on the market.

Stock markets dropped across the globe on Friday and the dollar leapt to six-week highs as jobs data revived expectations the U.S. central bank would stick to its monetary tightening path.

Garbage in, garbage out. The phrase is usually associated with computers, but it also applies to the formulas used to generate government economic data. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey goes over the January CPI and retail sales data with that phrase in mind.

Barrick gold is now mining some of the most expensive gold ever, and they aren't the only ones.  More gold miners are reporting even higher costs.  The cost at the world's second-largest gold mining company hit a new all-time high this year while its production hit a 22-year low...

Seven men found the coins on the Culden Faw Estate, Buckinghamshire in April 2019 including 12 rare gold nobles from the reign of Edward III.

Gordon stated that the US Federal Reserve is going to pause after its next interest rate increase. Then the U.S. central bank will stop and have a look at the impact of the hikes on U.S. consumers. nflation numbers for the U.S. came broadly in-line with expectations, and will continue to come off through this year, he added.

Renowned geopolitical and financial cycle expert Charles Nenner said back in late November, interest rates were on the way down but “for the very short term.” Nenner also predicted that inflation might come down to around 6.5%. The latest CPI number clocked in this week at 6.4%. Nenner was right on both counts.