Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
The precious metal finished up 0.6% in the previous session as investors bet that the Fed is more likely than not to raise interest rates by 100 basis points when it meets July 26-27, a move that would boost the chances of the world’s largest economy entering a recession.
JPMorgan Chase kicked off the second quarter earnings season with bad news: The bank temporarily suspended share buybacks and fell short of analysts' expectations for earnings and revenue growth.
BALI, Indonesia — U.S. Treasury Secretary Janet Yellen has warned that inflation in the U.S. is "unacceptably high" and said bringing down rising prices will be Washington's "top priority."
Here’s Why This ‘Crypto Winter’ Is Unlike Any Downturn in the History of Digital CurrenciesJul 14, 2022 - 06:24:31 PDT
A price crash, the collapse of key crypto projects, interconnected loans and the inability to repay debt have been key features of the latest downturn.
Inflation - Hurtling Toward Double Digits - What Happens Now?: BloombergJul 14, 2022 - 06:22:00 PDT
There’s no escaping inflation. I woke up this morning in a hotel in Mexico City, and watched the sun rise above the vast cityscape and the mountains beyond. But that was only for a few seconds before I turned on my Bloomberg, and discovered that US consumer price inflation over the last 12 months had topped 9%.
The Prospect of a Global Recession Is Sending Money Managers Scrambling to Rework Their PortfoliosJul 14, 2022 - 06:16:52 PDT
There’s no single theme across Asia bonds that will shelter investors from the threats of inflation, slowing growth and tightening financial conditions...
Investors are dumping Italian assets as political turmoil puts Prime Minister Mario Draghi’s government at risk of collapse and complicates efforts by the European Central Bank to support the market.
A financial-market crisis focused on Italy might augur the worst turmoil in the history of the euro.
Credit defaults are on track to rise in North America, Europe, Asia, and Australia, according to a survey by the International Association of Credit Portfolio Managers, as the risk of global recession mounts.
Central banks across the globe are speeding up interest-rate hikes, seeking to crush an inflation surge partly of their own making.
The three-month London interbank offered rate for dollars notched its biggest increase since 2008, soaring to the highest level in more than three years as traders anticipate larger interest-rate hikes by the Federal Reserve.
US equity futures fell Thursday as the second-quarter earnings season got underway without providing much for investors to cheer about. A dollar gauge rose to a record amid expectations of aggressive policy tightening to curb inflation.
Producer Price Inflation Unexpectedly Surges Back Near Record Highs In JuneJul 14, 2022 - 06:03:14 PDT
Following yesterday's CPI scare, analysts were hoping that Producer Prices will decelerate modestly. They were wrong, very wrong. PPI printed 11.3% YoY in June (nback up near record highs and well above the +10.8% expected)
Following the very mixed message from last Friday's jobs data, this morning's initial claims data was definitelky worse - with 244k Americans filing for unemployment benefits for the first time last week. That is the highest since November 2021...
The Federal Government ran an $89B deficit in June. This was an increase MoM but below the June deficit last year of $174B.
The federal government ran an $88.8 billion budget deficit in June. That was up nearly $22 billion from the previous month, according to the latest Monthly Treasury Statement.And this is supposed to be good news.
Fed Chair Jerome Powell and other members of the central bank have continued to talk tough about fighting inflation. But I'm pretty certain that in private, they were desperately hoping to see some cooling in the inflation data so they could start backing out of the ring. With a recession pretty clearly on the horizon (if not already here), you can bet that the central bankers don't want to keep tightening monetary policy.They didn't get their wish.
MARKET UPDATE JULY 14th: Important Precious Metals Update & The Energy Cliff Continues To Destroy EuropeJuly 14, 2022
The markets and metals sold off today big time after the news the Fed may raise interest rates by a stunning 100 basis points due to the higher-than-expected CPI figure. If the Fed raises interest rates by 100 basis points during their next meeting, we will likely see another major Dow Jones Enema...
It's official: inflation was so hot, it not only came at the highest level since Volcker hiked rates to 20% to avoid hyperinflation, but blew away pretty much all whisper numbers (it wasn't however, as high as that fake leaked BLS report).
Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as the U.S. Consumer Price Index (CPI) was higher than expected in June. The most active gold contract for August delivery rose 10.7 U.S. dollars, or 0.62 percent, to close at 1,735.5 dollars per ounce.