Precious metals are apparently waking up. And here is where you can find the best deals.
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Jul 14, 2021 - 07:36:31 PDT
During the hearing, Powell is likely to be pressed by Republican lawmakers to explain the Fed’s position on inflation. Republicans are increasingly criticising the White House and Democrats for fuelling rising inflation and higher living costs by way of the $1.9tn stimulus legislation passed in March.
The cost of feeding the world is the most expensive it’s been in years. The Food and Agriculture Organization’s food price index, which tracks a basket of grains, vegetable oils, meat, dairy and sugar, rose to its highest level in a decade in May.
he U.S. government's deficit for the first nine months of this budget year hit $2.24 trillion, keeping the country on track for its second biggest shortfall in history. In its monthly budget report, the Treasury Department said Tuesday that the deficit for the budget year that ends in September is running 9.1% below last year's pace.
The mainstream narrative is that the Fed will soon admit that inflation isn't transitory. At that point, it will raise interest rates and taper its bond-buying program to fight rising prices. But this narrative ignores the elephant in the room - the ever-increasing national debt.In June, the US government ran another big deficit of $174.16 billion, continuing the trend of overspending and massive budget shortfalls.
Gold prices rose on Wednesday after robust U.S. inflation numbers lifted the metal’s appeal as an inflation hedge, although gains were kept in check ahead of Federal Reserve Chair Jerome Powell’s testimony as early tapering bets rise.
That is the highest print on record (back to only 2010) but for context that is the highest since a CPI print in 1982...
Powell Says the Fed Is Still a Ways Off From Altering Policy, Expects Inflation to ModerateJul 14, 2021 - 05:39:23 PDT
Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy.
Bitcoin, Ethereum And Cardano Among Major Cryptocurrencies To Fall As China Expands Mining CrackdownJul 14, 2021 - 05:35:30 PDT
The value of major cryptocurrencies—including bitcoin, ethereum, cardano and ripple—fell Wednesday after China’s Anhui province announced sweeping plans to ban cryptocurrency mining, the latest region to block the power-hungry practice as Beijing intensifies its crackdown on the industry.
BlackRock Profit Beats Estimates As Assets Soar to Record $9.49 TrillionJul 14, 2021 - 05:33:26 PDT
BlackRock reported a 28% jump in second-quarter profit on Wednesday that handily beat estimates as investors poured more money into the company's funds.
"You add that to that the $600 billion in a bipartisan plan and you get to $4.1 trillion, which is very, very close to what President Biden has asked us for," Schumer said. "Every major program that President Biden has asked us for is funded in a robust way."
U.S. Treasury yields ebbed lower on Wednesday morning, ahead of Federal Reserve Chairman Jerome Powell's testimony in front of Congress later in the day.
Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell are slated to discuss the hot U.S. housing market and the risks it could pose to the financial system at a meeting with fellow regulators on Friday.The aim of the closed-door session: To make sure the U.S. is not vulnerable to a crisis akin to the one it suffered more than a dozen years ago,
The US Budget Analysis shows the deficit or surplus of the US Federal Government. A deficit occurs when spending (outlays) is greater than income (receipts). When the US Budget is in deficit (which it has been for over 2 decades), it accounts for one of the two components of the Twin Deficits. The Trade Deficit accounts for the other component which was
Weekly Mortgage Refinances Spike 20% After Interest Rates Drop to February LowJul 14, 2021 - 05:22:45 PDT
A sudden and unexpected drop in mortgage rates sent borrowers to their lenders in droves, hoping to save on their monthly payments.
“Private solutions for digital and online payments bring important benefits such as convenience, speed and efficiency. But they also pose risks in terms of privacy, safety and accessibility. And they can be expensive for some users,” Panetta said.
"It Needs To Be Hard For People To Remain Unvaccinated": Making The Case For COVID ChallengesJul 14, 2021 - 05:17:32 PDT
With France implementing a mandatory “health pass” and private companies like Morgan Stanley requiring vaccinations for employees to return to work, we can expect more protests and challenges around the world.
Jul 14, 2021 - 05:10:59 PDT
Health passes will be required at cultural and entertainment venues from July 21st, and to enter cafes, restaurants, shopping centres and transport from August 1st.
For the sixth month in a row, Consumer Price Index (CPI) data came in much higher than expected. But the question remains: how long will the Fed keep up the "transitory" inflation narrative? And when they do abandon this storyline and acknowledge inflation, what can the central bankers really do about it?The CPI surged 0.9% month-on-month in June. It was the biggest monthly price increase of the year, blowing away expectations of a 0.5% increase. Stop and think about that number. Prices rose nearly 1% in a single month.
TOM CLOUD PRECIOUS METALS UPDATE: Basel III On Gold & What's Happening In The Silver MarketJuly 14, 2021
Tom Cloud discusses the implications of the new Basel III ruling on gold and what is taking place in the silver market. Tom says that premiums on silver bullion products have fallen for the first time in several months. This is also due to precious metals demand being the lowest this time of year during the summer...
Silver has mysteriously appeared as a topic on several mainstream news shows lately, so what does this mean? Is the white metal about to wake from its slumber? Is this a trap?