Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
“This should set off alarm bells across all industries and markets, because while today might the price of gasoline … tomorrow’s ‘unconscionably excessive’ pricing might apply to anything from the price of wheat to health care to airfare to housing.”
After $40Bn Approved, Biden Immediately Unveils $100 Million More in Weapons to UkraineMay 20, 2022 - 05:18:01 PDT
As The Hill emphasizes, this came literally "moments after the Senate sent a $40 billion supplemental aid package to the president’s desk." More, more, more will now be the order of business, the American taxpayer and debt placed on their children's children be damned.
This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.
There is a lot of spin out there when it comes to economic news. You get spin from the corporate media, You get spin from government officials. And you get spin from central bankers. In this episode of the Friday Gold Wrap, host Mike Maharrey spins the spin, breaking down the media take on the retail sales numbers and Jerome Powell's spin during a talk this week. Whom should we believe? Listen and decide.
If you think there is a shortage of cars now, just wait until a few more years. While some blame the decline in world car sales due to the breakdown in the global supply chain from Covid shutdowns, problems were starting to occur in 2019. Interestingly, global vehicle production peaked two full years before the 2020 pandemic shutdowns began...
Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as the U.S. dollar weakened. The most active gold contract for June delivery increased 25.3 U.S. dollars, or 1.39 percent, to close at 1,841.2 dollars per ounce. It was the largest daily percentage rise for gold since April 12.
The silver price has finally stabilized this week after a rather brutal selloff over the past month. But is that it? Or is there more selling on the way? And what actually caused the recent selloff? To discuss those questions, as well as how the Fed’s latest set of rate hikes is likely to impact the silver price going forward, technical expert Michael Oliver joined me on the show to explain what's happening.
I don’t believe many people grasp the enormity of the global food crisis we’ll be facing in the months ahead. But the world could be on the verge of a massive humanitarian crisis. Let’s dive in…
Global food prices are soaring. The United Nations Food & Agriculture Organization’s Food Price Index – which covers a basket of basic food commodities (cereals, meat, dairy, vegetable oils, and sugar) – reached an all-time high of 159.7 in March, up from 141.1 the previous month. While it declined slightly in April, to 158.5, ongoing developments – not least Russia’s war in Ukraine – are set to keep driving prices to new highs, with devastating implications for global hunger.
NBC's Meet the Press just aired an absolutely freakish segment in which the influential narrative management firm Center for a New American Security (CNAS) ran war games simulating a direct US hot war with China.
In an address ahead of the BRICS foreign ministers’ meeting, Chinese President Xi Jinping urged to strengthen cooperation. Xi had previously invited the Argentinian government to participate in the BRICS summit.
The North Atlantic Treaty Organization will soon conduct large-scale exercises in the Baltics, with thousands of troops from more than a dozen nations set to take part in war games just 40 miles from the nearest Russian military base.
Yellen: U.S. Is ‘Unlikely’ To Let Moscow Continue Making Debt Payments, Forcing Russia Into defaultMay 19, 2022 - 12:30:20 PDT
The U.S. is considering closing a sanctions carve-out that currently allows Moscow to make payments on $40 billion of sovereign debt, potentially forcing Russia into its first default on foreign-held debt since 1918.
May 19, 2022 - 12:07:22 PDT
This past Tuesday, Federal Reserve Chair Jerome Powell sat for an interview with Wall Street Journal reporter Nick Timiraos as part of the newspaper’s “Future of Everything Festival.” During that interview, Powell told Timiraos that U.S. markets “are orderly, they’re functioning.” The precise exchange went as follows: (Watch it at 24:38 on YouTube video here.)
May 19, 2022 - 11:56:07 PDT
I still beg to differ with those who say the plunge from a positive 6.9% GDP growth rate in the last quarter of 2021 to minus 1.4% in the first quarter of 2022 is just noise. “It’s just a passing anomaly,”
May 19, 2022 - 11:52:51 PDT
Existing home sale declined for the third month. It's just a start of what's coming.
Mohamed El-Erian, chief economic advisor at Allianz and Bloomberg Opinion columnist, says markets have not yet priced in a significant slowdown in growth as he sees stagflation "unavoidable" for the US economy.
May 19, 2022 - 10:48:33 PDT
Suddenly, talk of an approaching recession is everywhere. But while a recession may indeed lie ahead, it's not staring us in the face just yet, says macro analyst Wolf Richter.
After an outcry over the creation of a "Ministry of Truth" within the Department of Homeland Security - with a champion disinformation-spreader hired to fight disinformation - the Biden Administration announced the program is on "pause" and the kooky director has resigned. But this is a government power grab so they can hit the "play" button at any time.
Disappointing economic data has bolstered gold, which is trading near session highs following from the National Association of Realtors.