Precious metals news

PayPal Holdings Inc said on Wednesday it will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network.

Gold’s worst-ever bear market (2011–15) is behind us, and gold is positioned for new highs of over $3,000 per ounce in the short run and much higher over the next several years. The time to go for the gold is now.

Buy the dip in gold & silver prices?

When governments started locking down economies in response to the coronavirus pandemic, the Federal Reserve sprung into action. The central bank immediately cut interest rates to zero and launched what we've called "QE infinity." Since then, the Fed has ballooned its balance sheet by nearly $3 trillion and increased the money supply at a record pace. Along the way, Powell and Company signaled they were surrendering to inflation, moving the inflation targeting goalposts to allow for the inevitable increases in consumer prices. Meanwhile, the federal government has run the national debt to over $27 trillion.
The question is how long can this go on?

One Standard Chartered Bank analyst warns that the greenback is vulnerable to a “significant depreciation” as sovereign fundamentals appear to be “pointing south.”

First-time claims for unemployment benefits were expected to total 875,000 last week, according to economists surveyed by Dow Jones.

St. Louis Federal Reserve Bank President James Bullard on Wednesday repeated his view that U.S. businesses are largely adapting to life amid COVID-19 and the U.S. economy is on track to better-than-trend growth even without further fiscal stimulus.

"Let them go bankrupt," O'Leary said of airlines, whose industry is expected to burn $77 billion in cash in the second half of this year.

JPMorgan Asset Management's David Kelly told CNBC the U.S. will get a stimulus package after the November presidential elections are over.

The IMF said the downgrade for Asia's economy "reflects a sharper contraction, notably in India, the Philippines, and Malaysia."

Over half of Europe’s small and medium-sized businesses say they face bankruptcy in the next year if revenues don’t pick up, underscoring the breadth of damage wrought by the Covid-19 crisis.

Why gold?
In a recent article, Jim Rickards offers three reasons the biggest gains in gold prices are yet to come.

American Airlines posted another quarterly loss as coronavirus hit summer travel demand.

Southwest Airlines on Thursday posted its biggest loss ever after the coronavirus pandemic hurt the summer travel season, but the airline cut its cash burn.

The help that Americans have been getting with rent, unemployment benefits, student loans, paid leave and more is scheduled to end soon.

Pelosi and Mnuchin will continue their talks as they try to resolve differences over coronavirus stimulus ahead of the 2020 election.

It’s pretty obvious that the world is entering a critical period that will present enormous challenges...

International monetary figures have a choice. They can reintroduce gold into the monetary system, Or they can ignore the problem...

What do the technicals say about the precious metals prices over the short term??  Well, if we look at a few indicators, they point to a short-term correction lower before setting up for the next leg higher.   When will that next LEG HIGHER begin??  That depends a great deal upon...

The gold market is not really priced for any of these outcomes right now. It won’t take all three events to drive gold higher. Any one would do just fine. But, none of the three can be ruled out. These events (and others) would push gold well past $3,000 per ounce, on its way to $4,000 per ounce and ultimately much higher along the lines described above.