Precious metals news

Paul Buitink, host of the Reinvent Money show, recently interviewed Peter on debt in Europe, possible futures for various currencies, and government monitoring of crypto and gold.

The percentage of U.S. adults holding an advanced degree increased by over 3% from 2011-2021. This increase in education is assumed to have a crucial role in America’s increasing economic strength over that time period. The expertise gained from such degrees is supposed to be valuable enough to outweigh the time and money put into grad degrees, both from the student’s perspective and the perspective of the schools and institutions that so often fund graduate degrees.

Silver prices have reached $30 per ounce, marking a significant milestone driven by strong industrial demand and favorable market conditions. This surge reflects investor confidence in the metal's future, bolstered by increasing applications in technology, renewable energy, and electronics. The rally is part of a broader trend in precious metals, silver is now up 5.6% this week.

In an aggressive move to revive its struggling property market, Beijing has unveiled a comprehensive rescue package, including the removal of mortgage rate floors and lowering down payments. The People's Bank of China will inject $42 billion to help government-backed firms purchase unsold homes, converting them into affordable housing. Despite this, analysts warn that the funds may fall short of what’s needed to fully address the housing glut. The market responded positively, with developer shares surging, but experts caution that a lasting recovery will require careful execution and broader financial support.

Amid an ideal investing environment, the Dow Jones Industrial Average has surged past 40,000 for the first time, driven by resilient corporate profits, low unemployment, and easing inflation. Investors are striking gold with gains in diverse markets, including tech stocks, cryptocurrencies, and precious metals. Despite some concerns about government debt and market timing, optimism remains high, with strategists predicting continued growth fueled by advancements in AI and domestic investment. Even risk-averse investors find attractive options in high-yield bonds and CDs, adding to the widespread market exuberance.

Amid improving economic indicators and anticipation of fewer Federal Reserve rate cuts, big tech companies, particularly those focused on AI, are expected to drive the next market surge. Nvidia, set to release earnings next week, is among the leaders in this trend. Capital Economics predicts that AI-driven optimism will propel tech stocks higher, despite recent cautious investor sentiment. The resilience of cyclical sectors and robust economic outlook further support the potential for an AI-fueled equity bubble, with big tech poised to regain and extend its dominance in the market.

China condemned the Biden administration's decision to increase tariffs on various Chinese imports and vowed to take unspecified retaliatory actions. The new tariffs, ranging from 25% to 100% on items like semiconductors and electric vehicles, follow a review of tariffs initially imposed by former President Trump.

In April, China's gold market saw strong investment demand, with gold withdrawals from the Shanghai Gold Exchange rising to 131 tons. The Shanghai Gold Benchmark and LBMA Gold Price both increased, reflecting this momentum. Chinese gold ETFs experienced their largest-ever monthly inflow, and the People's Bank of China announced its 18th consecutive month of gold purchases, bringing total holdings to 2,264 tons, the highest ever.

Politicians parrot on about small businesses being the backbone of the economy, only to pass the regulations that stifle them.
In 2024, several federal agencies instituted new regulations on small businesses. These agencies included the Financial Crimes Enforcement Network, the IRS, and the Consumer Financial Protection Bureau. The new restrictions add to an exponentially increasing mountain of mandates that small businesses have to comply with.

In just one day, not only did Silver BREAKOUT above $30, but it also sliced through $31, closing below $32 for the day.  The only way to describe this huge move is a massive short covering rally.  Why?  Market participants were likely caught on the wrong side of the move due to large silver bullion hedging and not believing the rally...

Platinum is entering its second year of substantial deficit, according to the Platinum Quarterly report from the World Platinum Investment Council (WPIC).

A massive short squeeze in New York has sent copper prices skyrocketing, with the Comex premium over the London Metal Exchange price surging to over $1,200 per ton. This unprecedented price spread has wrong-footed major traders and hedge funds, sparking a frantic scramble for copper to fulfill expiring contracts. Despite no overall physical shortage, the squeeze highlights tight US copper supplies, exacerbated by solid demand and shipping issues. Analysts expect further market volatility as traders rush to move copper to the US, with some relief potentially coming in early June.

Could a new silver squeeze be under way, thanks to the retail traders on Reddit aiming to expose the alleged silver manipulation

Gold, silver, and platinum prices have surged following softer-than-expected U.S. inflation data, which raises the prospect of Federal Reserve rate cuts. Gold reached a three-week high, silver hit its highest level in over three years, and platinum climbed to a near one-year peak. Saxo Bank strategists predict gold could soon test $2,400, silver may reach $30, and platinum has the potential to hit $1,130 per ounce. Despite some cautious forecasts, analysts from ROTH Capital Partners see gold potentially reaching $2,600 and silver climbing as high as $37.

The US dollar continues to flex its muscles in 2024, driven by strong economic data and fewer expected Fed rate cuts. Despite global growth improvements and rising oil prices, the dollar remains resilient, while the euro, pound, and yen face mixed prospects. Key factors include potential ECB rate cuts, BoE policy shifts, and the Fed's significant influence on USD/JPY dynamics.

Renaissance Technologies, an elite hedge fund, strategically acquired 1 million GameStop shares last quarter, reaping significant gains as the stock surged over 400% this week. Initially worth $13 million, the stake briefly soared to $65 million at Tuesday's high, driven by renewed interest from retail investors like Keith "Roaring Kitty" Gill. RenTech, known for its algorithmic trading, also made notable portfolio adjustments, increasing its AMC holdings and reducing stakes in Nvidia and Tesla, showcasing its dynamic investment strategy amidst market volatility.

China sold a record $53.3 billion in US Treasury and agency bonds in Q1 2024, marking a significant shift away from American assets as trade tensions with the US escalate. Analysts interpret this move as a deliberate diversification strategy, with China increasing its gold reserves to 4.9%, the highest since 2015. This trend, coupled with rising geopolitical tensions and potential tariff hikes from both the Biden administration and former President Trump, underscores China's intent to reduce reliance on the US dollar amidst a volatile economic relationship.

This analysis takes the BLS inflation data and recalculates the percentage changes at the category level to get unrounded numbers. The total number ties to the BLS, but it gives more detail at the granular level.

Despite improved production, car prices in the US remain sky-high due to lingering pandemic effects and soaring interest rates. The average new car price hit $48,759 in December 2023, driven by pent-up demand and high loan rates, with used car prices also elevated. While supply chain issues have eased, manufacturers have been slow to replenish inventories, keeping prices inflated. Relief may come as the Fed plans to cut interest rates in 2024, potentially easing the financial burden on car buyers.

During his visit to Beijing to mark 75 years of diplomatic relations, Russian President Vladimir Putin emphasized a "brothers forever" bond with Chinese President Xi Jinping. Both leaders presented their relationship as a stabilizing force against Western hegemony, specifically targeting US-led alliances and sanctions. Xi urged a peaceful resolution to the Ukraine conflict and the Israeli-Palestinian crisis, condemning Cold War mentality and unilateral power politics. They praised their move to conduct 90% of trade in national currencies, reinforcing their commitment to a multipolar world order and opposing Western-imposed trade restrictions.