Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Jan 18, 2023 - 07:12:49 PST
As the number of people experiencing homelessness increases across the country, more cities have passed laws making it illegal to sleep in public.
Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold.
While CPI printed 0.1% lower (headline MoM) - exactly as expected - this morning's headline producer price index was also expected to drop 0.1% MoM "confirming peak inflation" and stoking the fires of 'pause/pivot/soft-landing' narrative buyers.
While all eyes have been on the inflation prints, and soaring consumer debt (and plunging savings rates), this morning we get an idea of that consumer 'strength' via the December retail sales data. Consensus expected a headline decline of 0.9% MoM, while the more accurate forecaster BofA expects an even more serious decline:
Jan 18, 2023 - 05:53:39 PST
"The state of the union is coming up. The president's got to, and you know I think will, because he believes this, we gotta move this. Because that's the only way we can keep 1.5 degrees alive."
The IEA believes that China’s reopening will drive global oil demand to a record high this year, up by 1.9 million bpd from 2022.
Biden Administration Paying Americans Thousands of Dollars to Upgrade Their HomesJan 18, 2023 - 05:46:15 PST
On Aug. 16, President Joe Biden signed the Inflation Reduction Act into law, directing billions of dollars to Americans looking to upgrade their homes, businesses and cars. One provision of the law allows Americans making less than $150,000 a year to claim a $7,500 tax credit for buying an electric car. The law also provides $9 billion in rebates to help people electrify their home...
JPMorgan Chase & Co. strategist Marko Kolanovic reiterated Tuesday that he sees downside risk for the stock market in the first quarter, with the bank reducing its recommended equity allocation once again due to fears of a recession and central bank overtightening.
Wall Street’s ‘Fear Gauge’ Flashes Warning That Stocks Might Be Headed off a Cliff: MWJan 18, 2023 - 05:41:50 PST
Wall Street's fear gauge falls to its lowest level in months, and Wall Street strategists worry it could be a warning that the latest stock-market rally is coming to an end.
Russia's current account - a measure of the difference between all money coming into a country through trade, investment and transfers, and what flows back out - came in at $227.4 billion, up 86% from 2021. Russian imports fell sharply last year amid an exodus of Western firms after the West imposed sweeping sanctions on Moscow for its invasion of Ukraine. But the Kremlin has sought to replace revenues lost from its oil and gas exports to Europe with a pivot to China, India and other Asian countries.
Jan 18, 2023 - 05:34:32 PST
Despite the current financial market instability and cryptocurrency volatility, central banks are increasingly exploring the potential of creating digital currencies.
Customers have until Feb. 16 to withdraw their fiat and crypto holdings from the exchange.
The U.S. dollar's accelerating decline from the heady highs of 2022 has a ways to go yet - but the speed of the drop may build a case for a soft landing of its own later this year. A reversal of the near 30% jump in the dollar's main index , from the post-pandemic lows of early 2021 to September's 20-year peak, always seemed a sure bet once markets spied the peak of Federal ...
Bank of Japan Governor Haruhiko Kuroda looks set to end his tenure the same way he started it: sending yields careening in the world’s second-largest government bond market.
Treasury yields slipped after the Bank of Japan maintained its ultra-loose monetary policy late Tuesday and as traders eyed a batch of U.S. economic updates due Wednesday.
An unchanged decision from the Bank of Japan gave global investors a modest jolt Wednesday, leaving the bigger shock of a future policy shift hanging over markets from the yen to Treasuries.
U.S. stock futures were little changed ahead of the open Wednesday as investors prepared to parse through more corporate financial updates for signs of the “earnings recession” many analysts have warned about.
Here we go again.The clock is ticking down to another US debt ceiling fight.According to Treasury Secretary Janet Yellen, the US government will officially bump up against the debt ceiling Thursday (Jan. 19).
Gold posted a small gain in 2022, and it was one of the best-performing assets of the year. Nevertheless, there is still a perception in the mainstream that gold is dead. But that perception may be changing. In a recent note, Bank of America commodity strategist Michael Widmer said gold will be a "mainstay" in portfolios over the next several years.
With the rate of increase in the CPI slowing, many people in the mainstream think the Federal Reserve is winning the war on inflation. In a recent podcast, Peter Schiff said this is wishful thinking. He said that the Fed is losing the war and it will ultimately surrender to inflation.Schiff is not alone in his thinking. In a recent interview with The Market NZZ, investment guru Jim Grant argues that we have not seen the last of this inflationary outburst because inflation has become deeply rooted in the global financial system.