Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Feb 1, 2022 - 05:38:32 PST
No wonder the U.S. Commodity Futures Trading Commission declines to answer, even for a member of Congress, whether the commission has jurisdiction over manipulative futures trading by or on behalf of the government or whether such manipulative trading is authorized by the Gold Reserve Act of 1934, as amended:
A bill filed in the Oklahoma Senate would establish a state bullion depository similar to the one operating in Texas. This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money.
India’s benchmark bond yields surged to the highest in two and a half years after the government unveiled plans to issue record amount of bonds in the next financial year.
For the amount of work they’re expected to do, China’s regional governments are simply not paid enough. As the economy slows and real estate enters a bear market, a financial collapse on the order of Puerto Rico’s is a real possibility.
The billionaire said in a speech at Stanford University's Hoover Institution Monday that President Xi Jinping may not be able to restore confidence in the troubled industry, which has been hit by a series of defaults by developers and falling prices for land and apartments.
The U.S. Treasury boosted its estimate of federal borrowing needs for the three months through March after entering the quarter with a cash pile that was run down by congressional delays in lifting the government’s debt limit.
To quote ECB boss Christine Lagarde, a 2022 rate rise does seem "very unlikely". That's what she said last month but since then, she will have watched robust Q4 economic readings trickle in, including German annual inflation on Monday at 4.9%.
Feb 1, 2022 - 05:12:01 PST
Argentina’s economy is in dire straits, with net foreign reserves almost exhausted, inflation running above 50 per cent a year and the parallel exchange rate more than double the officially controlled level. The latest dispute is likely to make matters worse.
Lebanon Plan Sees 93% Currency Slide, Turns Bulk of FX Deposits to PoundsFeb 1, 2022 - 05:09:34 PST
A government plan for tackling Lebanon's financial crisis projects a 93% devaluation of the Lebanese pound and converts the bulk of hard currency deposits in the banking system to local currency, according to a blueprint seen by Reuters.
Federal Reserve policymakers say they'll raise interest rates in March but spoke cautiously on Monday about what might follow, signaling a desire to keep options open in the face of an uncertain outlook for inflation and a pandemic still ongoing.
Federal Reserve officials said they want to avoiding unnecessarily disrupting the U.S. economy as they prepare to start raising interest rates, showing little stomach for an aggressive 50 basis-point move in March.
Peter Schiff recently spoke at the January 2022 Virtual MoneyShow. He talked about the impacts of inflation and said stagflation is going to shock the markets.
GOOGLE SURGES 10% AFTER HOURS: Spends $50 Billion Of Profits To Buy Back Shares... LOLFebruary 1, 2022
You have to see this… Google doesn’t want to pay dividends because it rather invest its money in new cutting-edge technology. This is quite hilarious when Google took $50 billion of its profits to BUY BACK SHARES rather than pay dividends or invest in more cutting-edge technology...
Judging by the stormy volatility we’ve seen in financial markets so far in 2022, you’d think the Federal Reserve was getting ready to hike rates. In all seriousness, it now appears that liftoff will happen as soon as March, after which the Fed will reportedly start unwinding its $9 trillion balance sheet.
Jan 31, 2022 - 12:50:37 PST
Gold imports by India accelerated to the highest level in a decade last year as jewelry sales almost doubled, with the demand outlook remaining bright, according to the World Gold Council.
Jan 31, 2022 - 12:48:37 PST
But Goldman Sachs is keeping the faith on gold, raising its 12-month price forecast to $2,150/oz., up from its previous target of $2,000, and it also recommends buying December 2022 gold futures.
On the one hand, the world's known gold reserves are running out, on the other hand, global demand keeps increasing.
Gold mines are reopening in places where mining was once thought to be economically unfeasible.
Brace yourself for a big shift: Central banks are getting out of the crystal ball business. We are transitioning to a world where data, rather than detailed projections about the direction of monetary policy, is the key to understanding where interest rates are headed. This marks a significant departure from a guiding philosophy that's been around since at least the 2008 financial crash.
Lance Roberts of RIA Advisors joins Adam Taggart to summarize the notable developments in the financial markets over the past week.