Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Feb 10, 2023 - 08:07:02 PST
“We don’t know, for example, who’s using a $100 bill today and we don’t know who’s using a $1000 peso bill today. The key difference with the CBCD the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability, and also we will have the technology to enforce that.” ~ Agustin Carstens–General Manager, Bank for International Settlements...
Feb 10, 2023 - 07:17:32 PST
Get ready! The mad dash for metals is here! Copper set to be most valuable opportunity in race to net zero Electric vehicles and wind turbines are main demand drivers...
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Bullish investors continue to "Fight the Fed," hoping that a change to monetary policy will reignite the 12-year-long bull market.
Talking of capital flows, yesterday US yields rose again and the 2s -10s yield curve spread widened to most since the early 1980s, at one point reaching 86bps – and that is with the 2-year yield still 100bps lower than the 5.50% terminal rate that our Fed watcher Philip Marey now has penciled in for this year. However, things can get worse.
Despite continued rate rises from the US Federal Reserve, gold prices are recovering as other central banks around the world buy up the precious metal and investors foresee softer rate hikes.
Physical gold buyers in some Asian hubs were drawn to a dip in domestic prices this week, while central bank demand kept premiums firm in China. Local gold prices in India hit as low as 56,496 rupees per 10 grams from an all-time high of 58,826 rupees climbed last week. Demand from jewelers and retail consumers has improved because of the price correction...
No Matter How You Turn It, The Global System Is Already Doomed: Got Gold?Feb 10, 2023 - 06:02:50 PST
Below we look at the interplay of embarrassing debt, dying currencies and failed monetary fantasies masquerading as policies to confirm that no matter how one turns or spins the inflation/deflation, QT/QE or recession/no-recession narratives, the global financial system is already doomed.
What began as a trickle is now a flood: the US government is using the banking sector to organize a sophisticated, widespread crackdown against the crypto industry. And the administration’s efforts are no secret: they’re expressed plainly in memos, regulatory guidance, and blog posts. However, the breadth of this plan — spanning virtually every financial regulator...
U.S. Government Borrowing Costs Rise as Debt Ceiling Fuels Partisan ClashFeb 10, 2023 - 05:59:14 PST
Republicans and Democrats disagree on whether the U.S. debt load is manageable.
The only other instances that half or more felt this way was in 2008 and 2009.
U.S. home prices rose in the fourth quarter from a year earlier, but once-booming West Coast markets were among a growing number of metro areas to post price declines.
Japan's ticking debt time bomb will likely complicate the next central bank governor's task of steering a smooth exit from ultra-loose monetary settings, with rising long-term interest rates already forcing policymakers to amend budget projections.
Mexico’s inflation accelerated roughly in line with expectations in January, giving policymakers little room for maneuver at the central bank’s first interest interest rate decision of the year later on the day.
Japan Expected to Name Kazuo Ueda, Backer of Zero Rates, as Central Bank HeadFeb 10, 2023 - 05:41:02 PST
The expected nominee to lead the Bank of Japan, an advocate of aggressive monetary policy, said he wanted to continue the low-rate stance of the current governor.
Wall Street is the most bearish on Bank of America Corp. since 2015 after the bank received its fourth analyst recommendation downgrade in a month.
Mortgage rates in the US rose for the first time in more than a month.
\Next week’s US inflation data will mark a turning point for the equity rally at a time when investors are swapping stocks for bonds amid the specter of a recession, according to Bank of America Corp. strategists.
China’s consumer inflation accelerated last month as the country reopened and the Lunar New Year holiday spurred demand, although gains remain muted enough for the central bank to keep easing monetary policy to support the economy’s recovery.
US government bond investors pushed two-year yields above 10-year yields by the widest margin since the early 1980s Thursday, a sign of flagging confidence in the economy’s ability to withstand additional Federal Reserve interest-rate hikes.