Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
A new Weber State University survey shows economists trust their ability to improve the economy via government interference more than ever.
The Average Household Is Spending an Extra $250 a Month - $3,000 per Year, Due to High Inflation: MWFeb 10, 2022 - 11:11:34 PST
“This vicious cycle was behind the high inflation we suffered more than 30 years ago,” Sweet wrote. “The Fed views the risks of a regime of high inflation as greater than the downside risks of low inflation.”
Gold’s ability to defy gravity amid rising US real yields continues & so far, any weakness below $1800 has quickly attracted fresh buying. As the headline suggests we see part of the renewed demand for gold being driven by investors seeking a hedge against inflation & not least against the current optimistic view that central banks will be successful in bringing down inflation.
Gold leads as Mining Technology lists the top five terms tweeted on commodity markets in Q4 2021, based on data from GlobalData’s Mining Influencer Platform.
Today's CPI print was a stunner: despite JPM hearing "whispers" that inflation would miss expectations, not only did that not happen with CPI now coming in higher than Wall Street estimates 9 of the past 11 months, but CPI came in at the hottest level since 1982 when the Fed Funds rate was 11.50%.
Feb 10, 2022 - 08:15:09 PST
Powell’s trading directly violates the Fed’s written policy which prohibits trading “during the period that begins at the start of the second Saturday (midnight) Eastern Time before the beginning of each FOMC meeting and ends at midnight Eastern Time on the last day of the meeting.”
Fed Refuses To Release 60 Pages Of Correspondence On Pandemic Trades ScandalFeb 10, 2022 - 08:12:44 PST
Having cost the jobs of three top Fed officials, including the Dallas and Boston Fed presidents as well as that of Vice Chair Clarida, one would think that matters relating to (potentially extremely lucrative) insider trading by members of the Federal Reserve should be fully in the public domain. One would be wrong.
As his approval rating plunged below 40 for the first time - and is now significantly below that of President Trump at this time in his term - President Biden knew he had to come out and address the fact that despite all his promises, the average American is facing prices on consumer goods rising at their fastest in 40 years.
The New York Stock Exchange previously published end-of-month data for margin debt on the NYX data website, including historical data going back to 1959. Because of NYSE's suspension of publication, we have turned to FINRA to continue our analysis.
This update incorporates the Q4 GDP Third Estimate and the January close data. Please note that this update follows GDP releases, which always lag.
At 7.5% CPI, the Taylor Rule suggests that The Federal Reserve should have their target rate be 18.90%. Yes, this is Powell’s famous chili recipe if The Fed actually starts to raise rates and pare back the balance sheet stimulus.
Feb 10, 2022 - 06:58:23 PST
Bloomberg reports, "By law, the bulk of the windfall will go to the National Wellbeing Fund, most of which is held in gold and foreign currency by the central bank as part of its reserves."
European Banks Told To Step Up Cyberattack Defenses Amid Russia-Ukraine CrisisFeb 10, 2022 - 06:56:47 PST
Banks across the euro zone are being told to increase their cyber defenses with the region's regulator saying the issue should be a top priority for the sector.
Russia Begins Massive Military Drills With Belarus; U.S. Slams 'Escalatory' ActionFeb 10, 2022 - 06:55:34 PST
Russia has begun 10 days of military exercises with its ally Belarus as tensions remain high over a large build-up of troops along the Ukraine border.
10-Year Treasury Yield Tops 2% for the First Time Since 2019 After Hot Inflation ReportFeb 10, 2022 - 06:44:55 PST
The benchmark 10-year rate breached the 2% level after key inflation data showed hotter-than-expected price pressures.
After a strong 2021, demand for silver is expected to hit a record high in 2022, according to the Silver Institute's Global Demand Forecast.The Silver Institute projects silver demand will hit a record 1.112 billion ounces this year with growth in most key areas. That would represent an 8% year-on-year increase.
Expectations for this morning's must-watch CPI were a continued non-transitory acceleration to +7.3% YoY (Core +5.9% YoY), but they underestimated as the headline printed a shocking +7.5% YoY - the highest since March 1982.
Feb 10, 2022 - 05:49:04 PST
The Mortgage Bankers Association (MBA) released their weekly mortgage application survey this morning. Mortgage applications decreased 8.1 percent from one week earlier, for the week ending February 4, 2022.
A new generation of buyers is jumping into the market at what may be the worst possible time.
Struggling With Spiraling Inflation Consumers Face Years of High Energy Prices, Big Oil CEOs WarnFeb 10, 2022 - 05:39:12 PST
Consumers should brace for years of high energy prices, heads of top oil and gas companies said, in what would pile pressure on governments struggling with spiraling inflation.