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Despite some disruptions caused by the covid-19 pandemic, Russia is expected to surpass China as the world’s top gold producer by 2029
Gold prices rose on Thursday, holding firm above the key $1900 per ounce level, as a weaker US dollar and concerns over the global economic recovery from the mounting COVID-19 cases boosted demand for the safe-haven metal.
The dollar fell against most of its peers on Thursday amid fading hopes for a compromise between Republicans and Democrats over additional stimulus for the U.S. economy.
Some Turkish banks have begun charging a fee to withdraw foreign currencies in cash, bankers said on Thursday, after a slide in the lira to record lows last week.
Central banks worldwide have slashed interest rates in recent months, providing in some cases unprecedented amounts of stimulus to help soften the blow to the global economy from the coronavirus pandemic and to keep markets functioning.
Failure To Reach Deal On Federal Stimulus Plan Risks Consumer Spending RecessionAug 13, 2020 - 04:34:29 PDT
With each passing day, failure of Congress and the Administration to reach a deal on the federal stimulus plan raises the risk of a hard fall in consumer spending
Treasury Secretary Steve Mnuchin urged his Twitter followers on Tuesday to swap out their spare coins for cash at banks amid a continuing nationwide coin shortage that appears to be worsening.
The stock market is not the economy. Rarely has that adage been as clear as it is now. An amazing, monthslong rally means the S&P 500 is roughly back to where it was before...
Manhattan apartment rents plunged last month by the most in nearly nine years. That’s only one sign of weakness for the borough’s leasing market. By almost every measure, the news is dismal for landlords, who are trying to keep units filled amid a global pandemic that’s sparked an urban...
IEA Sees Lower Oil Demand in 2020, 2021 on Upsurge of Coronavirus Cases and Stalling MobilityAug 13, 2020 - 04:22:41 PDT
The IEA lowered its oil demand forecasts for 2020 and 2021 on Thursday, identifying jet fuel demand as the "major source" of weakness.
Latin America Will See ‘Record-Breaking Contraction’ as the Coronavirus Shatters Their EconomiesAug 13, 2020 - 04:17:06 PDT
Some economies in Latin America could see a "record-breaking contraction" not seen since World War II, according to investment bank Goldman Sachs.
Coronavirus Updates: Pandemic Relief Negotiations at a Standstill; U.S. Case Numbers Warped by DataAug 13, 2020 - 04:09:52 PDT
The coronavirus has infected more than 20.4 million people around the world as of Thursday, killing at least 745,923 people.
From one perspective, this seems absolutely healthy for the market considering its rallies, but on the other hand, this appears to be...
Massive Surge In U.S. Gold Imports Signals BIG TROUBLE Ahead For The Financial SystemAugust 13, 2020
The U.S. imported a record amount of gold bullion in April during the global contagion and shutdown of many economies. The United States imported more gold in April than it did during all of last year. A lot of the gold imported into the U.S. was due to delivery issues,...
Frank believes we are in a secular bull market and highlighted gold’s positive track record: “Since the year 2000, gold has been up 80 percent of the time.”
Gold Could Head as High as $3,400, VanEck CEO Says as Metal Pulls Back From RecordsAug 12, 2020 - 12:56:17 PDT
Gold prices may hit fresh all-time highs this year as the low interest rate market environment drives demand, says Jan van Eck.
Fed's Daly Not Expecting US To Have A `V'-Shaped Recovery - Recovery Will Be Slow, Gradual And Shaped By Virus.
Are you planning on inflation, deflation or crisis? That’s the question answered by Mike Maloney, Jeff Clark and Chris Martenson in today’s video update. Also covered - the precious metals pullback, increasing strains on the global economy, the latest insane actions by the Fed, and most importantly…Mr Jeff Clark throws down some serious trash talk. Enjoy.
Trump’s $300 Unemployment Benefit May Take More Than a Month to Arrive — if It Comes at AllAug 12, 2020 - 11:36:16 PDT
An executive order issued by President Trump gives a $300-a-week federal boost to unemployment benefits. But that aid could take weeks to arrive, if it comes at all, experts said.