Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
The Swiss National Bank has the one thing that most central banks are desperate for right now as they battle inflation: a strong currency. That advantage is waning as the European Central Bank considers a jumbo rate hike next week.
Sep 2, 2022 - 12:12:56 PDT
While the service remains most popular for big purchases, with the price of goods continuing to go up, many Americans are now opting to use it to purchase essentials.
The average credit card debt held by households in the United States surged by 13 percent in the second quarter, the largest increase in such debt since 1999, according to an Aug. 30 report from the Federal Reserve Bank of New York.
Sep 2, 2022 - 12:02:27 PDT
Health officials say the drop in life expectancy from 2019 to 2021 — falling by 2.7 years to 76.1 – is now the country's worst two-year decline on record since 1923, according to provisional estimates published by the Centers for Disease Control and Prevention's National Center for Health Statistics.
The pope referred to the current era as the “third World War,” saying the overarching conflict will most likely play out piecemeal, unlike previous global wars, according to Vatican media.
Gazprom Has Cut Off All Gas Supplies As Putin Continues To Weaponize Energy Supplies Against EuropeSep 2, 2022 - 11:48:27 PDT
Treasury Secretary Janet Yellen praised a price cap measure on Russian oil devised by G-7 countries in response to Russia’s ongoing invasion of Ukraine.
The year 1776 is legendary for precisely one thing: the Declaration of Independence.
But 1776 was actually a REALLY big year. Because in addition to the formation of the United States (which undoubtedly had an extraordinary impact on the course of the world), 1776 also saw two other historic trends take shape.
In his last major policy speech before leaving office, Prime Minister Boris Johnson is calling to boost nuclear capacity to help maintain the UK’s energy security.
America’s aging power grid has some major problems, and if it is not upgraded, the country’s climate pledges could be in risk
“Jerome Powell’s rhetoric is dangerous, and a Fed-manufactured recession is not inevitable — it’s a policy choice,” Sen. Elizabeth Warren said.
I have been commenting on the jobs-employment discrepancy for four months. The two surveys measure different things. A person is either employed or not, but someone can have multiple jobs.
The latest data from the NFIB on small business sales tells us much about the state of the current economy and the risk of a recession.
Biden Student Debt Plan Would Send More to Richer Families, JPMorgan Data Shows: WSJSep 2, 2022 - 07:38:26 PDT
Lower-income and minority households would be more likely to have their debt forgiven entirely under the Biden plan, the JPMorgan Chase Institute found.
The Fed Must Do Two Things To Re-Establish Credibility: Allianz’s El-ErianSep 2, 2022 - 07:32:11 PDT
"Once you bring in an inflation rate of 8.5% suddenly the ability of the market to hold the Fed hostage dissipates. I think that's what the market is starting to realize — this is not the old days, inflation has fundamentally changed the equation," he said.
Fed Chair Powell Says Inflation Fight Could Create Heavy Burden for AmericansSep 2, 2022 - 07:25:45 PDT
Federal Reserve Chair Jerome Powell addressed the current inflation challenges at the latest Jackson Hole conference last week, saying that bringing down inflation could create a heavy burden for American families.
Traders in the US rates market pared their bets on the amount of policy tightening they expect from the Federal Reserve after data showed an uptick in the unemployment rate and the pace of wage growth remaining steady, although the drive toward higher borrowing costs remains very much intact.
Everyone, from corporate CEOs to investors, is too focused on the still decent nominal data when the inflation-adjusted numbers tell a more dire story.
Silver on Thursday bounced off its lowest level in two years on Thursday, while gold shook off its lowest level in 6 weeks.
Sep 2, 2022 - 05:51:11 PDT
The bottom line is gold and silver investors still require patience. However, the day of reckoning will come, and prices will break out of their sideways channel.
August Payrolls Drop To 315K, Above Expectations; But Unemployment Rate, Earnings Both MissSep 2, 2022 - 05:48:16 PDT
In other words, solid headline payrolls number, but weakness in the unemployment rate and another much needed tapering in wage growth.