Precious metals news

Faced with mounting evidence that loose U.S. monetary policy contributed to the breakout of inflation last year, the Federal Reserve now faces the risk it jumped too far the other way with its plans to fight price pressures through continued aggressive interest rate hikes even as the world economy wobbles. The warning signs of a policy overcorrection have intensified as the U.S...

Around Columbus Day, 1979, Paul Volcker, newly installed as head of the Federal Reserve, embarked on the crusade that made him a legend: a no-holds-barred campaign to beat back inflation. On Wall Street, it took the better part of three years to recover.

JP Morgan sounds the alarm bell on what the Federal Reserve is doing on interest rates.

After the best 2-day rally since April 2020, the best start to a new quarter since 2009 and the best start of a Q4 since 2002, the powerful rally fizzled and US equity-index futures fell as investors pushed back on bets for less hawkish central banks amid the latest surge in oil, and sought more evidence that inflation is moderating. In other words, unlike yesterday, stock algos finally noticed what oil was doing.

“I can scarcely contemplate a greater calamity that could befall this country than to be loaded with a debt exceeding their ability to ever discharge.” - Brutus
Well, here we are.
On Monday, the US national debt eclipsed $31 trillion for the first time in history.

Is now the time to buy gold? Or should we be bearish on the precious metal? Peter Schiff debated TD Securities Global Head of Commodity Markets Strategy Bart Melek on the future of gold prices on CNBC Asia.

After the Silver Price surged higher this week, what's next?  Investors want to know if this is going to be a continued silver breakout, so we need to look at the crazy dynamics taking place in the market.  For example, many investors may believe the Big Shorts on the SLV ETF covered during the price spike.  But, did they...

Gold Performance in Major Currencies, 2000-2022 YTD...

When someone stashed 44 gold coins into a wall in the 7th century, they may have hoped to one day return and find their treasure again. Instead, almost 1,400 years on, the coins have been found by Israeli archaeologists who hailed the discovery as a rare glimpse into an ancient past at a tense time of violent conquest.

A survey was done by CreditCards.com in which 60% of the respondents said that they have been in credit card debt for at least a year. That’s up from 50% a year ago. Forty percent said they’ve been in credit card debt for over two years. A quarter of those surveyed said that the reason they carry outstanding credit card debt is to cover daily expenses. The Fed’s July consumer credit report (it has a two-month lag) showed that credit card debt hit a record $4.64 trillion. It’s likely that credit card defaults are going to start shooting higher, causing increased stress on bank balance sheets and credit markets.

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered, three bank officials and two vault operators told Reuters.

“We remain concerned about the (lack of) structural demand for Treasuries.”

Historically speaking, according to Napier, “Gold is the standard asset for financial repression.”

The No. 2 Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the U.S. bank Lehman Brothers in September 2008. This event triggered one of the most serious financial and economic crises since the Great Depression.

Crucially the bank points out that the UK events also highlight that even when a risk is well-telegraphed (global tightening), markets remain full of hidden risks.

"Monetary policy is about money, not interest rates. Central bankers should stop trying to implement monetary policy by messing with relative prices. There are better measures and more effective transmission mechanisms." ~ Alexander William Salter

Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family home.

Outraged bank clients, at least two of them armed, stormed four commercial banks across Lebanon on Tuesday over withdrawal limits that have been imposed throughout the country amid a financial meltdown. Cases of bank hold-ups have snowballed across Lebanon as residents have grown exasperated over the informal capital controls that banks have imposed since...

In this week’s Live from the Vault, Andrew Maguire sits down with renowned financial expert, Alasdair Macleod, to demystify the major mispricing in the global markets. The two old friends speak out on the US fighting tooth and nail to retain their world reserve currency status, with the threat of Russia’s gold-based trade currency closing in.