Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Data coming from the COMEX could indicate growing pressure for a breakout in gold and silver.COMEX data has shown large deviations for several months. Most of this occurred before Russia invaded Ukraine and these deviations have grown larger since. The invasion seems to have accelerated trends that were already in place.
United Overseas Bank Head of Markets Strategy Heng Koon How sees strong safe haven inflows into gold, lifting prices to $2,200/oz by the end of this year. He was speaking with Juliette Saly and Rishaad Salamat on "Bloomberg Markets: Asia". (Source: Bloomberg)
"Gas Stations Will Run Dry": Energy Traders Warn of Catastrophic Scenario For Diesel EmergingMar 23, 2022 - 06:04:18 PDT
While the world has been obsessively focused on crude oil and gasoline in recent weeks, we instead alerted readers to a far more dire scenario playing out in diesel, a source of energy which is absolutely critical in keeping the "just in time" world running on time.
The founder and chairman of Icahn Enterprises said surging inflation is a major threat to the economy.
Ukraine Says 'Confrontational' Russia Talks Moving Forward As West Plans More SanctionsMar 23, 2022 - 05:55:57 PDT
Talks between Ukraine and Russia are confrontational but moving forward, President Volodymyr Zelenskiy said on Wednesday, as the West plans to announce more sanctions against the Kremlin amid a worsening humanitarian crisis.
Larry Summers Warns Inflation Outlook Is 'Pretty Grim,' Urges Fed To Move Faster on Rate HikesMar 23, 2022 - 05:52:34 PDT
Summers says probability Fed successfully engineers 'soft landing' is unlikely.
The dollar is likely to head higher in the coming months before weakening in the second half of the year as the outperformance of the U.S. economy fades and investors’ risk appetites improve, according to Barclays Plc.
Despite rising interest rates and more hawkish talk from Federal Reserve Chairman Jerome Powell, the stock markets keep pushing upward. Everybody seems to think the Fed has things under control and everything will be just fine. In his podcast, Peter explained why this "everything is great" attitude will have to come to an end.
Digital cash could be programmed to ensure it is only spent on essentials, or goods which an employer or Government deems to be sensible.
Global Bond Plunge Wipes Out $2.6 Trillion, Exceeding Losses of 2008 Financial CrisisMar 23, 2022 - 05:35:24 PDT
The Bloomberg Global Aggregate Index, a benchmark for government and corporate debt total returns, has fallen 11% from a high in January 2021. That’s the biggest decline from a peak in data stretching back to 1990, surpassing a 10.8% drawdown during the financial crisis in 2008.
Brent oil will likely hit $150 a barrel this year as the supply shock from the war in Europe coincides with resilient demand from people keen to travel after the virus, according to veteran commodities trader Doug King.
Mar 23, 2022 - 05:24:32 PDT
The Philippines and the United States will kick off the largest-ever joint military drills in the archipelago nation next week, US officials said Tuesday, showing off their strong defence ties in the face of growing Chinese assertiveness.
Gold Price Rise Just Getting Started As Mining M&A Heats Up | Jeff ClarkMar 22, 2022 - 14:18:06 PDT
The price of gold hit an intra-day record high of $2,078.80/oz two weeks ago. Though the price has since retreated to $1,925/oz, GoldSilver.com's precious metals analyst Jeff Clark says that's just a healthy retracement and that he expects new record highs ahead. One reason for that is because M&A activity is finally heating back up in the gold mining sector.
Rising gold exchange-traded fund holdings show that despite day-to-day price fluctuations, asset managers are moving back into gold to diversify, and as a hedge against inflation and an economic downturn, Ole Hansen added.
The Yield Curve Is Speeding Toward Inversion – Here's What's Going On: MWMar 22, 2022 - 12:45:00 PDT
“The yield curve has the best track record within financial markets of predicting recessions,” said Ben Emons, managing director of global macro strategy
at Medley Global Advisors in New York. “But the psychology behind it is just as important: People begin to factor into their minds interest rates that are perhaps too restrictive for the economy and which could lead to a downturn.”
Average gasoline prices in Los Angeles hit $6 per gallon, GasBuddy's head of petroleum analysis, Patrick De Haan, wrote in a tweet, noting this compared with an average of $4.756 per gallon a month earlier
Ultimate No-Growth Industry: Electricity Generation in 2021 Rose to, Well, 2007 LevelsMar 22, 2022 - 12:40:22 PDT
But the mix of how power was generated changed dramatically over the years.
China’s government stockpiled a record amount of cash in the first two months of the year instead of spending it, despite numerous pledges by top officials to speed up fiscal stimulus to boost the economy.
Mortgage Rates Are Surging Faster Than Expected, Economists To Lower Their Home Sales ForecastsMar 22, 2022 - 11:42:53 PDT
Mortgage rates are rising far faster than economists had predicted, and some are now revising their home sales forecasts lower as a result.
U.S. Student Loans Set for Rising Delinquencies, New York Fed Analysis ShowsMar 22, 2022 - 11:40:58 PDT
An increase in delinquencies last year among a smaller pool of U.S. student loans not covered by a forbearance program put in place during the COVID-19 pandemic signals likely problems ahead for almost 37 million loans when that program ends, a New York Federal Reserve analysis showed on Tuesday.