Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine .
China announced another stimulus measure to finance infrastructure projects, part of its push to drive investment and increase employment in the second half of this year as the economy starts to recover from the effects of Covid lockdowns.
(Australia’s two biggest housing markets, Sydney and Melbourne, led a fall in home values during June as rising interest rates further choked buyer demand.
Treasuries began the second half of the year on the front foot Friday as concerns continued to mount that Federal Reserve rate hikes will lead to a recession.
“Today, we face supply shocks in a context of much higher debt levels, implying that we are heading for a combination of 1970s-style stagflation and 2008-style debt crises – that is, a stagflationary debt crisis,” Roubini said.
The risk of a renewed selloff in equity markets is still high as investors are only pricing a mild recession, according to Goldman Sachs Group Inc. strategists.
Investors reeling from the brutal emerging markets selloff over the past six months again fled the rupee as India’s currency hit new lows, prompting the government to curb gold imports and oil exports to arrest a widening deficit.
Euro-area inflation surged to a fresh record, surpassing expectations and bolstering calls for the kind of aggressive interest-rate increases being deployed by central banks across the world.
(Bloomberg) -- Copper sank below $8,000 a ton, hitting its lowest since early 2021, as deepening fears about a global economic slowdown drive a rout in industrial metals.
A “recession shock” begins for markets following the worst first-half for the S&P 500 in more than 50 years, Bank of America Corp.’s Chief Investment Strategist Michael Hartnett says.
As DB's Jim Reid puts it "if you want the good news this morning it's that H1 is now finally over. If you want the bad news it's that there's not much good news around as we start H2 and US equity futures are already down around a percent in the first few hours of the new half year. "
Both silver and gold had their weakest COMEX delivery months in several years.Gold started July delivery with 937 contracts outstanding. This is the lowest level since November of last year and the second-lowest since the start of Covid (see figure 2).
The first month of Federal Reserve balance sheet reduction turned out to be a big dud. As it turns out, the balance sheet shrank by less than $1 billion in June during the first month of quantitative tightening.As part of its vaunted inflation fight, the Fed announced in May that Quantitative Tightening (QT) was set to begin last month. From Reuters:
Federal Reserve Chairman Jerome Powell continues to insist that the economy is strong enough to withstand tighter monetary policy to fight inflation. But the economy seems to be saying otherwise. So, how will this play out? In this week's Friday Gold Wrap podcast, host Mike Maharrey gazes into his crystal ball and speculates about what might happen over the next several months. He also tells the tale of two central bankers and discusses the current gold market.
After nearly nine years of rock bottom rates, the Federal Reserve has finally raised interest rates…. What does that mean for you and your investments going forward? Best-selling author, Mike Maloney of GoldSilver.com, is joined by Ronnie Stoeferle to discuss how this move could impact our already fragile economy.
With less than 2% of the world's population during the 1800s, England was the Largest Empire on the planet. Few realize that England has become an economic powerhouse due to its ability to ramp up coal production, accounting for two-thirds of the world's total supply. Without coal, England would have remained a second-rate economy...
Jun 30, 2022 - 12:58:07 PDT
Inflation remains at a 41-year high and continues to severely pinch households when paying for food, gas and nearly everything else. How much longer will it plague us? And might it get even worse from here? To find out, we welcome Steve Hanke back to the program.
Stocks Drop in Final Hour of Trading As the S&P 500 Heads Toward Its Worst First Half Since 1970Jun 30, 2022 - 12:41:13 PDT
U.S. equities declined on Thursday as the S&P 500 prepared to wrap its worst first half in decades.
Last year, just as it was becoming increasingly clear that price inflation was mounting, Jerome Powell repeatedly denied there was any reason for concern.
Few people are aware of what the Federal Reserve System, acting on behalf of the U.S. Government, is doing to their money, writes Hans Sennholz.