Precious metals news

Spending by Chase card users has been at roughly the same level relative to 2019 for more than a month after rising sharply in April and May.

It’s time for Congress to step up to the plate and demand a full accounting from the Fed on behalf of the American people.

It was an important level to cross on the way to the 1980 high, evidenced by the fact that it came back to that level (after it blast through in Dec 1973) before setting off to that all-time high of $118 ($50 in nominal terms).

Central banks are currently promoting gold as “the ultimate store of value,” protection against “high inflation” and the possibility “the system collapses”...

Gold prices rallied to a fresh intraday record late-morning Thursday, propelled by continued appetite for precious metals amid the COVID-19 pandemic....

"It's just astonishing and breathtaking and you have to sort of pinch yourself sometimes to sort of realize that it's actually happening." - Michael Hartnett, BofA Chief Investment Strategist...

...The Fed could become technically insolvent if it were to experience significant credit losses on some of the higher risk assets it is currently purchasing. In that event, the Fed could face a political backlash that could have potential implications for its ability to respond to future crises.

Join Mike Maloney and Jeff Clark as they discuss Jeff’s most recent article, along with the question of whether it is too late to invest in gold and silver.

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/2f6c709d-e589-4d1f-9811-10b9d0ef0d81 “Silver’s performance as a supercharged version of gold can be partly attributed to it having a solid industrial base, unlike gold, and one that stands to benefit . . . in the scary new world of coronavirus,” he said.

A correction is coming...

Gold's rally has halted just below $2,000 an ounce partly due to fierce technical resistance, but an eventual break above that level is likely, freeing prices for more record highs, technical analysts said.

For the third time in a week, gold futures have spiked above the Maginot Line of $2,000.

As investors grapple with the relentless rise in global coronavirus cases, one Singaporean hedge fund is preparing for another dire event— the possibility of an armed clash between the U.S. and China.

No doubt the uncertainty surrounding the pandemic is a key driver of gold demand. However, it is also possible central bank policy responses to the pandemic, while perfectly logical now, will have undesirable consequences in time.

Gold has rallied to a record this year as the coronavirus pandemic savaged growth, with gains supported by massive inflows into bullion-backed ETFs. Bulls are fearful that the waves of stimulus to fight the slowdown may debase paper currencies and ignite inflation.

While I do not endorse the theory this is all developing as planned, it is difficult to deny the situation is dire and the general population remains clueless as to the dangers ahead.

We still have a strong amount of silver standing for delivery!

Silver futures were up 25% in July, the second-biggest monthly gain for the white metal on record.
And silver is still significantly undervalued compared to gold.

A falling market gets a swift response, but the idea of raising rates to curb inflated share prices has become outlandish.

Deflation remains a more credible risk, not inflation. The output gap suggests core inflation could sink below 0.5% in the coming years.