Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
The rise of trade barriers against China and other countries over the past year could cost the global economy $1.4 trillion, on top of the severe damage being done by the war in Ukraine, the head of the International Monetary Fund said.
Asset managers are turning ever more bearish on the dollar amid bets that the Federal Reserve may be approaching the peak of its interest-rate hike cycle.
Reports of the dollar's decline may have been greatly exaggerated, and if that turns out to be the case, it's bad news for Asia. World stocks have rebounded strongly, bond yields and the dollar have fallen, and financial conditions eased significantly over the last month as investors bet that the Fed is preparing the ground for the much-vaunted 'pivot'.
Once seen as the world’s go-to economic crisis fighters, central bankers are now desperately trying to contain a problem they allowed to happen: inflation. That’s eroded their credibility in the eyes of investors and society at large.
Deutsche Bank Sees U.S. Leveraged Loan Defaults Near Record Highs in 2024Nov 21, 2022 - 05:44:13 PST
(Reuters) -Default rates on U.S. leveraged loans will hit a near-record high of 11.3% in 2024, while defaults on euro leveraged loans will hit 7.1%, as the global economic outlook deteriorates, Deutsche Bank said on Monday. For 2023, however, Deutsche Bank expects default rates to be kept in check given the lack of near-term maturities.
Chile is set to lead the world into a steep interest rate cutting cycle next year as inflation slows and its economy goes from boom to bust, according to swap markets.
JP Morgan remains the world's most systemically important bank according to the latest rankings from the G20's Financial Stability Board published on Monday. The FSB began the annual rankings after the global financial crisis over a decade ago, requiring the world's biggest lenders to hold an extra buffer of capital, calibrated across five 'buckets’,...
What Is ‘Zombie Debt?’ Why Homeowners Are Facing Foreclosure on Old MortgagesNov 21, 2022 - 05:33:59 PST
"Zombie debt” - old loans with new collection actions - are resurfacing as properties gain equity. Should homeowners pay?
Over the first two weeks of November, crypto exchange FTX went from leading crypto exchange to a $16 billion bankruptcy - this year's largest so far.
‘Stocks and Bonds Are Toast’: Robert Kiyosaki Warns Central Banks Can’t Fix InflationNov 21, 2022 - 05:28:14 PST
Precious metals — particularly gold and silver — have been a popular hedge against inflation and uncertainty. They can’t be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world.
"The bear market is not over, in our view," closely followed Goldman Sachs strategist Peter Oppenheimer wrote in a new note. "The conditions that are typically consistent with an equity trough have not yet been reached. We would expect lower valuations (consistent with recessionary outcomes), a trough in the momentum of growth deterioration, and a peak in interest rates before a sustained recovery begins."
U.S. stock futures pulled back in early trading Monday as Wall Street barreled into a holiday-shortened trading week. The Fed ‘will effectively tame inflation’ at the next FOMC meeting, George Ball says
Treasury Market Liquidity and Volatility Problems Could Derail Fed Balance Sheet ReductionNovember 21, 2022
Interest rate hikes get most of the attention as the Federal Reserve fights inflation, but balance sheet reduction is arguably more important. And it's not going well.Since the Fed stopped buying Treasuries and started letting bonds fall off its books as they mature, the bond market has experienced increasing volatility and liquidity problems. In fact, there is already talk about the possibility of the central bank abandoning quantitative tightening.
A lot of mainstream pundits concede that the US economy is heading for a recession as the Federal Reserve continues to crank up interest rates in its inflation fight. But as Peter Schiff explained in a recent podcast, there is plenty of data that indicates the economy is already in a recession.
The price analysis last month suggested that more time was needed for a sustainable rally. It concluded:It looks like this market will turn sooner or later. Still, though, support has become resistance so the market has some work ahead of itself. Medium to long-term investors should feel very confident buying at current prices, even if the price action remains choppy in the short-term.
The collapse of the FTX crypto exchange has been in the news. As SchiffGold analyst Tony wrote, "FTX isn’t the canary in the coal mine (that was Celsius, or one of the other firms that crashed this year). FTX is the coal mine, and it just collapsed."
Silver demand is on pace to hit record levels in 2022, driven by new highs for physical investment, industrial demand, jewelry, and silverware production, according to the Silver Institute’s Interim Silver Market Review.
GLOBAL SILVER MINE SUPPLY IN TROUBLE IN 2022 AS DECLINES CONTINUE: Large Declines Coming From Peru, Australia & ChileNovember 21, 2022
While the Silver Institute's newest press release reports growing silver production this year, the data I am looking at, directly from the government websites, suggests quite the opposite. I believe Global Silver production will decline this year, while world gold production will increase slightly...
Gold and silver continue to flow out of the COMEX vaults.This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.
In January, I have written a post called The Real Reset. This was at a time when there was no war with Russia and interest rates haven't started rising yet. Before reading this second part of the story, I highly recommend that you read or re-read the first part. Whether...