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Precious metals news
Oct 26, 2022 - 09:14:24 PDT
Gold will do well once people realise that inflation won’t come down to pre-2020 levels but will settle between 4 and 6%. The disappointing performance of gold this year is somewhat clouded by the strong dollar. In yen, euro or sterling, gold has done pretty well already.
Important to understand is that there is not one single new or original idea in Klaus Schwab’s so-called Great Reset agenda for the world. Nor is his Fourth Industrial Revolution agenda his or his claim to having invented the notion of Stakeholder Capitalism a product of Schwab. Klaus Schwab is little more than a slick PR agent for a global technocratic agenda, a corporatist unity...
Here’s the Fed’s Next Move...
The End of the "Growth" Road is upon us, though the consensus continues to hold fast to the endearing fantasy of infinite expansion of consumption.
The Fed's Current Monetary Stance Will Lead to Stagflation, Not DeflationOct 26, 2022 - 09:07:45 PDT
Mainstream analysts seem convinced that global central banks are moving aggressively to tackle inflation, maybe even going too far.
House Democrats and Republicans agree the Fed needs legislation to issue a digital dollar, but differ on key elements of such a bill.
The Reserve Bank of India (RBI) is launching a central bank digital currency (CBDC) pilot program exploring programmability and setting expiry dates.
A recession warning tracked by Wall Street is growing louder, as another measure of the widely watched “yield curve” signals that the United States is headed toward an economic slump.
Oct 26, 2022 - 08:55:46 PDT
The combined picture across the #G4 suggests the developed world is entering a contraction, mild for now but with forward-looking indicators signalling tougher conditions to come.
Speaking at the summit in Riyadh, Pacific Investment Management Co. Vice Chairman John Studzinski and Franklin Templeton CEO Jenny Johnson described inflation in the US as “sticky.” Third Point CEO Daniel Loeb offered a different view, and said “we may have already seen the worst of it.”
They Blinked: Bank of Canada Hikes Less Than Expected, Sparking Debate If Fed Will Also "Surprise" Next WeekOct 26, 2022 - 08:30:59 PDT
First it was Australia, now it is Canada's turn to hike less than expected.
New UK Prime Minster Rishi Sunak delayed an economic strategy announcement planned for Monday until Nov. 17 as he sought more time to make the “right decisions” on managing the British economy.
Oct 26, 2022 - 08:27:47 PDT
25 refrigerators. That’s how much the additional electricity consumption per household would be if the average US home adopted electric vehicles. Congressman Thomas Massie—an electrical engineer—revealed this information while discussing with Pete Buttigieg, the Secretary of Transportation, President Biden’s plan to have 50% of cars sold in the US be electric by 2030.
Oct 26, 2022 - 08:15:58 PDT
Saudi Arabia's finance minister said the world's energy transition away from fossil fuels could take as much as 30 years, necessitating continued investment in conventional resources to ensure security of supply...
The U.S. dollar’s important role in the affordability of oil amid what is increasingly looking like a global economic slowdown is a completely underestimated factor in energy trade
The Biden administration has been focusing on crude oil and gasoline prices, but in the meantime, diesel inventories have fallen to dangerously low levels
Oil prices are rallying this morning as the dollar continued to weaken (to 3-week lows), shrugging off any worries about the surprise crude build API reported last night.
“Crude oil remains rangebound,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S. “Short-term direction is being provided by the movements in the dollar and focus on today’s weekly US stock report.”
Oct 26, 2022 - 07:52:25 PDT
Another day, another lousy economic report under Biden. Today, we found out that new home sales declined -11% MoM (from August to September) and fell -17.6% from last year YoY. With 603k SAAR sold.
Gold prices jumped on Wednesday as the dollar and bond yields weakened amid expectations that the U.S. Federal Reserve could slow its rapid pace of interest rate hikes.
Oct 26, 2022 - 06:16:41 PDT
Following a huge rise in demand for the precious metal, banks in Russia are experiencing a scarcity of gold bars, according to a report by the Vedomosti newspaper on Tuesday, which cited specialists.