Precious metals news

So, did you get all of that? The former head of the CFTC, who could find no price manipulation and also failed to implement the position limit provisions of the Dodd-Frank law, gets rewarded with a promotion..

Gold prices eased on Wednesday as the dollar ticked higher, while investors awaited clues on U.S. interest rate hikes from the minutes of the Federal Reserve's latest policy meeting.

The Eurodollar curve implies four quarter-point cuts are on the way starting in 2023. The Fed believes otherwise. Let's discuss stock market implications.

A former Internal Revenue Service (IRS) whistleblower has said that the Democrats’ Inflation Reduction Act (IRA) will see the government target middle-income Americans with increased scrutiny and audits.

Eurozone debt markets came under pressure on Wednesday, after worse than expected UK inflation data triggered a sharp sell-off in the country’s government bonds.

The rate was the highest in more than four decades in the U.K. and the fastest increase recorded in one of the Group of Seven rich countries since the current surge started in early 2021.

Today’s US industrial production and capacity utilization numbers showed a nice “steady as she goes” slow decline from previous months, though still positive at 3.90% YoY. And it …

A slow-down in headline retail price growth was expected due to falling gas prices, but ex-Autos/Gas, sales (notional remember) were expected to rise.

Rising prices amid a US economic slowdown will menace embattled credit markets, if history repeats.

In order to do that we analysed 34 grocery items available in Walmart Inc (NYSE:WMT) by using the web archive tool that allowed us to see what the prices were in July 2019.

As new inventory is finally starting to hit the market and demand has temporarily slowed down thanks to rising rates, the housing expansion between March 2020 and now is still very likely to go down in history as blowing unprecedented amounts of air into an unprecedented bubble.

According to an Aug. 2 report from the Federal Reserve of New York, credit card balances increased by $46 billion in the second quarter. That’s a 13% year-over-year increase, which marks the largest jump in more than 20 years.

Stock futures were pointing to losses on Wednesday after Target issued a downbeat quarter ahead of key retail sales data.

Fifty-one years ago this week, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard.
Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. During a national television address, on Aug. 15, 1971, Nixon promised the action would be temporary in order to “defend the dollar against the speculators,” but this turned out to be a lie. The president’s move permanently and completely severed the dollar from gold and turned it into a pure fiat currency.

Indian silver imports are on pace to triple this year as investors bet the white metal is primed to rebound and outperform gold in the near future.
Silver prices have dropped to 2-year lows, and the silver-gold ratio has risen to nearly 90-1, signaling that the white metal is significantly undervalued compared to gold.

If you are worried that the 160 million barrels already released from the U.S. Strategic Oil Reserve are troubling, wait until you see how much more is forecasted to be removed in the coming months and years ahead.  I was quite shocked when I saw how much more oil will be released in the next five years...

Join Mike Maloney and Adam Taggart as they present 6 mind-blowing charts that tell the story of inflation and what the future holds. This is an extra-long update, absolutely jam-packed with crucial information.

However, "as the risk of recession rises, gold's downside could be limited despite aggressive rate hikes," Standard Chartered said in a note.

Climate change theory says that the public has to drastically reduce its consumption to save the environment, while Keynesian economics says that increasing consumption by the general public is the surest way to a prosperous economy.

"The greater enforcement could be regressive. Policymakers and pundits should ponder this possibility before they wrap themselves in the cloth of virtue."