Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Oil fell amid a challenging Chinese demand outlook and after an industry report pointed to rising US inventories.
Cryptocurrencies saw a second day of sharp declines on Wednesday, as investors continued to fret about the stability of the sector and the financial health of major exchange FTX despite plans for a rescue deal from bigger rival Binance.
Crypto World’s Largest Exchange Rescues Rival Amid Fears the Industry Could Enter Another MeltdownNov 9, 2022 - 05:27:25 PST
The cryptocurrency world was rocked on Tuesday as one of the largest exchanges for digital currencies, seemingly on the verge of collapse, was bailed out by a major rival in a deal that underlined the perils of the industry’s volatility.
Investors Face Unclear Outcome in Midterms, With Questions Over Spending, RegulationNov 9, 2022 - 05:20:05 PST
Investors were weighing a less clear outcome in the U.S. midterm elections on Wednesday, with Democrats doing better than expected, making questions about fiscal spending and regulation more ambiguous.
Sending money to family or making a rent payment through Zelle has many perks -- it is immediate and does not come with the fees commanded by many traditional e-transfers. The instant payment service was launched in 2017 as a collaboration between Bank of America , JP Morgan Chase , and Wells Fargo . Along with being faster than a traditional...
Cathie Wood Expects To See ‘Significant Downturn’ in Inflation in 6 MonthsNov 9, 2022 - 05:14:58 PST
Star stock picker Cathie Wood of Ark Invest on Tuesday again suggested that the U.S. economy will soon experience deflation and said that the reported acquisition of crypto exchange FTX.com will boost its remaining competitors. Wood, who has a significant position in crypto exchange Coinbase Global, said in a webinar that the crypto industry...
Fed’s Williams Flags Relative Stability of Longer Run Inflation ExpectationsNov 9, 2022 - 05:13:52 PST
Federal Reserve Bank of New York President John Williams cited the relative stability of longer-run inflation expectations as good news on Wednesday as the U.S. central bank continues to work to get price pressures back to the desired level. “The importance of maintaining well-anchored inflation expectations...
The three-day selloff in the US dollar on the back of a global stock rally and just the possibility -- yet to materialize -- of an end to China’s Covid-zero policy, has caught market players’ attention.
Executives are aggressively paying down debt as higher interest rates increase the cost associated with having debt and businesses face the prospect of a recession.
American consumers continue to dig deeper into debt as they try to cope with rising prices using credit cards. Americans added another $25 billion to their record levels of debt in September, according to the latest data from the Federal Reserve.
Gold rallied by over $50 an ounce last Friday and the rally has extended into this week with the yellow metal moving back above $1,700 an ounce. In his podcast, Peter Schiff explained why he thinks that gold has bottomed and this is a significant reversal.
Mike Maloney can’t believe the story that today’s charts show. Join him, along with Adam Taggart, in this deep-dive analysis of several of the most reliable recession indicators available.
Nov 8, 2022 - 12:41:38 PST
Rising interest rates and a strong dollar have left gold in the dust this year. But UBS predicted a rebound in the price of the precious metal, saying it
But going forward, even Goldman thinks there is limited further downside in Spec positioning which is already close to historic lows. The bank also thinks that, while the drawdown in US ETFs can continue, European liquidations should slow after the ECB turned more dovish. Thus, structurally higher CB demand should help absorb further ETF selling which further enhances the gold price return asymmetry in our view.
Nov 8, 2022 - 12:33:52 PST
The cynic in me thinks the federal government has been quietly adding more money into the economy than the Fed is taking out in an effort to succeed in the mid-term elections. I guess we’ll find out tomorrow night if this strategy worked.
There have been three major sovereign debt crisis episodes during the past 200 years. The first one occurred after the Napoleonic wars between 1827 and 1860. The second one occurred during and after the Great Depression and World War II, and the third one during the era of commodity-price and banking crises from around 1987 till around 2000. Now, we are approaching a fourth one.
Dollar crisis has come to the fore again as 20 banks are unable to make payment of import LCs. According to data of Bangladesh Bank of October 25, dollar crunch has intensified to such an extent that the banks are unable to pay debts and LC.
Central banks seem to be stepping down from aggressive rate hikes, which may lead to a year-end "Santa Pause" rally for stocks.
Evelyn de Rothschild, who as a London scion of the European banking dynasty helped Britain privatize its railroads, steel and coal in the tradition of his ancestors, who had helped finance the acquisition of the Suez Canal and the defeat of Napoleon, died on Monday evening at his home in London. He was 91.
The reputation of that program is controversial, however, and there is concern that this policy would clash with the Fed’s deflationary efforts. The path forward is unclear, as the rise in yield rates necessary to induce greater demand could also mean higher costs of lending for both private and public actors.