Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
‘Savings Are Running Out’: Battered by High Inflation, Fed’s Rates To Hit Lower-Income Americans: MWJul 29, 2022 - 05:39:56 PDT
‘People are starting to put their basic needs and their daily expenses onto their credit cards.’
The first impact of rate increases will be in places like Italy, Spain and Portugal, where more homeowners have floating-rate mortgages.
The European Central Bank needs to see signs of "panic" on bond markets to activate its debt-buying programme, ECB policymaker Ignazio Visco said on Thursday after a rise in Italy's risk premium over Germany in recent days. "This distance for the time being and the way it has developed does not call for substantial turmoil or something disorderly,” ...
Traders rushed to trim European Central Bank tightening wagers and bonds surged after data showed the US economy shrank for a second straight quarter, fueling concerns a recession may spread to Europe.
Treasuries rallied, dragging yields down sharply, as traders pared expectations for how much policy tightening the Federal Reserve will do based on a weak initial estimate of the US economy’s performance in the second quarter.
Global bonds are headed for the biggest monthly gain since November 2020 -- with a Bloomberg index surging 1.8% -- as the market’s focus switches to a fear of recession amid rapid Federal Reserve interest-rate hikes. That’s a far cry from the previous six months, when the strongest inflation prints for a generation drove the gauge to a cumulative 14% loss.
The Market’s Recent Rally Could Be an ‘Unwelcome Development’ for the FedJul 29, 2022 - 05:16:10 PDT
The Fed usually shrugs off moves in the stock market, but the turn in equities has also coincided with an alarming turn in bond markets as well — which could brew trouble for policymakers.
Delivery volume in the July gold contract got off to the weakest start in years, but then had a major mid-month rally, turning it into one of the strongest minor months in recent history. Over the last 15 months, it only trailed the blow-out month of March. Momentum has continued in the August contract.
This week, the Federal Reserve raised interest rates another 75 basis points despite a second straight quarter of negative GDP growth. Meanwhile, Congress is debating a big government spending bill to "reduce inflation." In this week's Friday Gold Wrap podcast, host Mike Maharrey tries to unspin all of the spin and government propaganda to make some sense of what's going on.
Another month in and the Fed is still struggling to implement Quantitative Tightening (QT). According to the plan the Fed outlined last May, the central bank should be shrinking the balance sheet by at least $47.5B a month, spread between $30B in Treasuries and $17.5B in MBS.That's not happening.
With the world consuming five times more oil than it is discovering, Peak Oil and Peak Gold have finally arrived. However, the world hasn't figured this out yet, but it will. And, when it does, we will see much higher prices for precious metals in the future. Why? Peak oil equals peak gold and peak silver production...
Gold Futures Post Biggest Daily Percentage Gain Since March; Silver Jumps Nearly 7%: MWJul 28, 2022 - 13:03:40 PDT
Gold futures climbed Thursday, marking their largest one-day percentage gain since March, while silver prices rallied by nearly 7% -- the biggest daily rise in more than a year, according to Dow Jones Market Data. The U.S. GDP data has "re-affirmed my view that the [Federal Reserve] will have to slow down the pace of the hikes and potentially go in reverse in early 2023,”...
Xi Warns Biden "Those Who Play With Fire Will Get Burned" In 2+ Hour CallJul 28, 2022 - 12:49:08 PDT
China state sources are reporting that - in a moment perhaps intent on humiliating the US administration - Xi warned Biden "those who play with fire will get burned."
On March 2, a New York Fed Study projected MBS principle payments based on its assessment of market rates. The above chart is from that study.
Many of the most important developments shaping events here in 2022 are happening outside of the US. Obviously, Russia's invasion of Ukraine has upended the geo-political chessboard, as well as world trade and the energy & financial markets. China, too, is making waves that all nations feel.
If the Fed Continues To Increase Rates - It’s Going To Be a Severe Recession: Ken RogoffJul 28, 2022 - 12:32:26 PDT
Harvard University economics professor Kenneth Rogoff revealed what he believes will cause "a really deep" downturn shortly after data showed that the U.S. is in a technical recession.
Economics Professor Rips Manchin’s ‘Worst Possible Timing’ To Support ‘Economy Killer’Jul 28, 2022 - 12:11:39 PDT
After Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., reached a tentative agreement for a $433 billion tax and spending package while U.S. GDP signaled recession fears on Thursday, Fox News contributor and economics professor Brian Brenberg slammed Democrats contributing to stagflation.
Jul 28, 2022 - 12:03:21 PDT
Jeffrey Gundlach, DoubleLine CEO, joins 'Closing Bell: Overtime' to discuss the market reaction to the Fed decision to hike 75 BPS.
Commodities have been one of the best performing sectors of the market this year… Is it too late to hop aboard this trend? Or is there plenty of room for commodities to continue higher? Best-selling author, Mike Maloney of GoldSilver.com, invites Ronnie Stoeferle to discuss what the future holds for commodities.
Jul 28, 2022 - 11:58:59 PDT
US Real GDP for Q2 slumped -0.9% QoQ, the second straight quarter negative GDP growth. Also, known as RECESSION.