Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The war in Ukraine has dramatically transformed global power dynamics, as Western sanctions on Russia trigger the rise of alternative financial models. Crucial among these is the absence of the US dollar as the de facto transactional currency, meaning that the two-decade process of global de-dollarisation is distinctly turbocharged in 2022.
Russians bought 12 tonnes of gold bars and coins in just five months, and the government expects potential demand may reach 50 tonnes per year.
China’s gold imports from the major refining hub of Switzerland jumped to the highest in more than five years, signaling demand improved as the Asian nation relaxed strict Covid measures.
Gold rebounded from a two-week low as investors weighed minutes from the Federal Reserve’s July meeting, which signaled further interest-rate hikes but at a slower pace.
Federal Reserve officials agreed last month on the need to eventually dial back the pace of interest-rate hikes but also wanted to gauge how their monetary tightening was working toward curbing US inflation.
"The bigger picture for the dollar is that it's in a strong uptrend," said Matt Simpson, a senior analyst at brokerage City Index in Brisbane, adding it has now paused a weeks-long pullback "In some ways, bulls are looking to step back in and I think the Fed minutes gave them a reason to do so." Fed officials saw "little evidence" late last month that U.S. inflation pressures were ...
After hitting the highest level since November, in the latest week, the number of Americans filing for jobless benefits for the first time dipped from a downward revised 252K (was 262K originally) to 250K, well below the consensus estimate of 264K.
Natural gas prices are flirting with levels not seen in the US in almost 15 years amid mounting concerns that robust domestic and overseas demand for the fuel will siphon off supplies that otherwise would be stowed for winter
California's grid operator urged the state's 40 million people to ratchet down the use of electricity in homes and businesses on Wednesday as a wave of extreme heat settled over much of the state, stretching power supplies to breaking point.
Feds Cut Water Deliveries To Arizona And Nevada, May Impact Food ProductionAug 18, 2022 - 05:36:40 PDT
Arizona and Nevada face deeper cuts on the amount of water they can draw from the drought-stricken Colorado River, the Interior Department's Bureau of Reclamation said Tuesday.
European natural gas futures extended their gains as an energy-supply crunch continued to batter the region, amid signs that the is fuel becoming too costly for industrial use and power generation.
Lira Crashes After Turkish Central Bank Makes Shock Rate Cut Despite Raging HyperinflationAug 18, 2022 - 05:26:14 PDT
Nevermind the 80% inflation: the boss wants a rate cut and damn it, he will get a rate cut.
As ECB Mulls Another Big Hike, Schnabel Says Inflation Outlook Hasn’t ImprovedAug 18, 2022 - 05:24:52 PDT
The euro zone inflation outlook has failed to improve since a July rate hike, European Central Bank board member Isabel Schnabel said, suggesting she favours another large interest rate increase next month even as recession risks harden. The central bank for the 19-country bloc surprised investors with a 50-basis-point rate hike last month fearing that inflation...
Traders are wagering the Bank of England’s key rate will soon overtake the Federal Reserve’s as UK policymakers amp up their inflation fight.
U.S. equity-index futures traded slightly higher even as sentiment remained fragile after the Federal Reserve signaled inflation-busting rate hikes will continue despite a weakening economy.
On net, central banks globally have been adding gold to their reserves. Through the first half of 2022, central banks expanded gold holdings by 270 tons.National Bank of Poland Governor Adam Glapiński summed up the reason central banks hold gold.
The mainstream has suddenly discovered price movements impact retail sales.For months, retail sales generally came in higher than expected. And for months the mainstream financial punditry ignored inflation and told us this signaled a strong economy. But in July, retail sales unexpectedly fell flat. Now the mainstream financial punditry claims this signals a strong economy.
Aug 17, 2022 - 17:27:21 PDT
Stephanie Pomboy reacts to today's latest data on retail sales, Fed rate hike outlook, jobs, credit conditions & inflation. In her words, it's difficult to see anything other than stagflation reigning for the rest of the year.
It is necessary to create a new international standard of the precious metals market - Moscow World Standard (MWS), which will become an alternative to the standard of the London Bullion Market Association (LBMA), the Ministry of Finance of Russia said in a letter July 28th.
Aug 17, 2022 - 13:11:45 PDT
es Lawrence, senior investment strategist at State Street Global Advisors, says that trying to predict monetary policy outcomes now is like "trying to steer a car when the bend is a mile away." Instead, he advises investors to seek to cushion their portfolios with hedges in commodities and gold.