Precious metals news

US stock futures soared Thursday morning as President Biden unveiled his first federal budget, which calls for the government to spend $6 trillion in the 2022 fiscal year, with total annual spending set to increase to $8.2 trillion by 2031.

Initial Jobless Claims tumbled (positively) to their lowest since the pandemic lockdowns began, adding just 406k Americans last week (well below the 425k expected). This is still double the pre-pandemic norms...

But condo prices in the San Francisco Bay Area fell year-over-year again, and in New York City have been flat for years.

Chinese industry is absorbing significant cost pressures from rising commodity prices -- damping the inflationary impact for the rest of the world. Will it last? Our analysis of gross margins suggests it could for a while longer: downstream industries -- where the cost crunch is most severe -- still have a small cushion.

Banks that lent to Archegos, including Credit Suisse Group AG, UBS Group AG, Goldman Sachs Group Inc. and Morgan Stanley, have been contacted for information, the people said.

More than 60 countries and multinational organizations produce financial stability reports. All are political documents that rarely identify actual financial crises in advance, especially if risks arise from government-regulated institutions or are linked to government policies that promote financial excesses such as lax lending standards, over-stimulative monetary policy, or unsustainable exchange rates.

New cars, airfares and building supplies are suddenly more expensive. If you are planning one of these purchases, it may pay to wait until prices come down.

Over the last several months, gold and silver have faced strong tailwinds due to market expectations that the Fed would tighten monetary policy sooner rather than later to fight price inflation. But after April's hotter than expected CPI, that sentiment seems to have shifted and the markets are acting the way you would expect in an inflationary environment. Gold and silver have rallied and the dollar has shown weakness. In fact, gold pushed above the $1,900 an ounce level.
In this Gold Videocast, Peter Schiff explains why he thinks this is just the lull before the real storm and now is the time to buy gold and silver.

It shows the growing pressure on oil and gas companies to set short, medium and long-term targets that are consistent with the Paris Agreement.

A study from IE University has found that most Europeans would like to see some of their members of parliament replaced by algorithms.

“Since 2008, they have capitulated on so many fronts I don’t even recognize the institution anymore. The bank I worked for is gone,” said Fed veteran Christopher Whalen.

U.S. Treasury yields edged higher on Thursday morning, ahead of the release of weekly jobless claims data.

This is our definition of peak mined silver. Will the silver mining industry be able to produce, or discover, enough silver that it’s able to meet demand without having to recycle?

Gold fell below the key $1,900 per ounce level on Wednesday, as a rebounding dollar and U.S. Treasury yields dimmed its appeal, although continued expectations of a dovish stance from U.S. Federal Reserve kept its losses limited.

The government has deployed a new set of stimulus checks of up to $1,400 apiece. Most of those payments were prompted by recently processed tax returns.

Part 1 of this article raised issues with the “Great Inflation” narrative as recalled by several experts. Various problems exist with trying to understand just how bad the price increases were 50 years ago, whether statistical or anecdotal evidence are used. Despite several issues, the point of contention is the idea of the Fed being responsible for resolving (price)...

All this makes the financial system far more fragile—increasing downside risk from potential future black swan events. . .

Yamamoto, a political heavyweight close to former Prime Minister Shinzo Abe, also urged the Bank of Japan to ramp up asset buying to weaken the yen further and help the export-reliant economy.

The amount cash sloshing around in U.S. dollar funding markets looks unlikely to abate anytime soon and that’s set to put downward pressure on short-term rates until next year unless officials act to alter the situation. That’s the view of strategists at Bank of America Corp., who foresee further increases in usage of the Federal Reserve’s reverse repurchase ...

The European Central Bank must keep its money taps fully open, as the euro zone economy is still in the throes of the coronavirus pandemic despite progress in vaccination campaigns, ECB policymaker Yannis Stournaras said. ECB rate-setters will review the pace of emergency bond purchases at their June 10 meeting against an improved economic ...