Precious metals news

Incoming Bank of Japan (BOJ) governor Kazuo Ueda will probably end its yield control policy when the timing is right to fix the central bank's strained communications with markets, former BOJ executive Kazuo Momma told Reuters on Wednesday. But the BOJ must make clear that any decision to scrap yield curve control (YCC) would be purely aimed at fixing what has become...

The rate on U.S. six-month Treasury bills surpassed 5% on Tuesday, reaching its highest level since 2007. That’s good news for investors looking to earn even more on their short-term cash. It’s still not enough to offset inflation, however, which remains stubbornly high even as the latest government data show it slowing.

The deputy governor of Ukraine’s central bank woke early on Feb. 24 to a phone call from his mother, who was abroad. Her flight back to Kyiv had been cancelled. She’d also seen news reports that Russian tanks had crossed the border.

China’s central bank added more cash into the financial system to meet a rapid, post-Covid Zero rebound in loan demand, while keeping its key policy rate steady for now as the economic recovery takes shape.

India is leading a charge among Asia’s emerging-market central banks in rebuilding foreign-exchange stockpiles, which would help them defend their currencies if the dollar rebounds.

The explanation for the whoosh higher in risk assets this year may be as simple as it is surprising: eye-popping liquidity from central banks. Largely thanks to the Bank of Japan hoovering up domestic government bonds to keep its 'yield curve control' policy intact, and stimulus from the People's Bank of China (PBOC), aggregate liquidity from the official sector has surged in recent months.

Federal Reserve Bank of Philadelphia President Patrick Harker said he believes policymakers will need to raise interest rates to some level above 5% to counter inflation that is retreating only slowly.

Treasuries will face more pressure from inflation — but this time with China as a key catalyst not the US, according to some investors.

Wall Street equity futures declined while European stocks steadied as investors assessed how inflation data from the US and the UK will affect the outlook for interest rates, and as they digested results from major companies.

\Bond traders were once again forced to rethink the Federal Reserve’s path after inflation data showed prices remain stubbornly high. They now expect the Fed to continue raising interest rates through June and no longer see a rate cut as a sure bet this year.

After two straight monthly declines, consensus was for a big rebound (+2.0% MoM) in retail sales in January - with the almost omnipotent forecasters at BofA seeing an even bigger (+3.0%) surge.

With the CPI losing the relief from cooling energy prices, this month showed a solid uptick in prices, coming in at 0.54% (~6.6% annualized).

Billionaire hedge fund manager John Paulson said you're better off owning gold than dollars.
Why?
Because he thinks the dollar is set up for long-term depreciation as the world drifts toward dedollarisation.

After the December Consumer Price Index (CPI) report, the mainstream was giddy. "Inflation is over!" they proclaimed. "The Fed is winning the inflation fight!" they cried. "We are entering a period of disinflation!" they insisted.
Well, the January CPI report threw cold water on that disinflation narrative.

With Hecla's declining profit margins resulting in a 10% plunge in the stock price today, is this bad news for the silver miners as they release reports in the next several weeks?  While Hecla sold off today, the company plans to increase silver production by 50% in the next few years...

For this quarter's advisory board we welcome our special guests: John Reade, Chief Market Strategist at the World Gold Council and Michael DiRienzo, Executive Director of the Silver Institute. We discuss the finding of the World Gold Council's Gold Demand Trends 2022 research paper that was published in early February and the trends in the silver market in 2022. Other topics we discuss during the call include: The increase in gold purchases we are seeing from central banks. Asia's increasing importance in gold demand. Silver as a green metal. The impact of ESG measures on gold and silver supply. The Gold/Silver ratio and what we could expect to see in 2023.

Investors need to prepare their portfolios for mega economic and geopolitical trends that are sweeping the world and creating new market conditions that will make the next five much less certain than the last decade was, a Bank of America executive said.

Join Mike Maloney as he takes a look at the recent predictions on gold vs the dollar from John Paulson, billionaire fund manager. Is now an opportune time to buy gold?

Dallas Federal Reserve President Lorie Logan said in a speech at Prairie View A&M University on Tuesday that there is a risk that the Federal Reserve does too little on tightening monetary policy, and the economy remains overheated and the central bank fails to keep inflation in check. "That could trigger a self-fulfilling spiral of unanchored inflation expectations that would be very costly to stop," Logan said.

The joint letter also calls out the absurdity that the dollar is not already digitized.