Precious metals news

The National Association of Realtors said on Monday existing home sales fell 9.7% to a seasonally adjusted annual rate of 3.91 million units last month, the lowest level since October 2010. Economists polled by Reuters had forecast existing home sales would fall 3% to a rate of 4.12 million units in

China mainly relies on the US dollar payment system in international deals, making it vulnerable to possible US sanctions, according to Fang Xinghai.

There’s a set of rules in the world of CLOs designed to keep managers’ temptations in check, so that they don’t rush foolishly into overly risky assets. But in a strange twist sparked in part by the coronavirus pandemic,...

With no federal aid in sight, local governments are canceling construction projects.

While I had mentioned in previous articles that I expected to see silver production from Mexico and Peru to decline significantly, I’m amazed actually to see the real numbers.

We have been making the case for weeks that we aren't heading for a quick recovery. We've reported on the number of people of small business owners who don't think they'll survive, the increasing number of over-leveraged zombie companies, and the tsunami of defaults and bankruptcies on the horizon. Yes, we have seen some economic numbers that are better than expected, but it's all a function of a Federal Reserve-induced sugar high. The ugly truth is that given the amount of stimulus that the Federal Reserve and the US government have pumped into the economy, unwinding it all will be mission impossible. All of this certainly raises serious questions about the possibility of a "v-shaped" recovery.

On Friday, the Dow Jones was up around 400 points early in the day, but closed down just over 200 points. Meanwhile, gold had a solid rally that held up. The yellow metal was up about $20 on the day. Could this be a sign of things to come? In his podcast over the weekend, Peter said he thinks it just might be.
I think the action in the stock market and the gold market Friday potentially is telling as to the future course of both markets.

“Covid-19 worries together with the eventual inflationary impact of central bank stimulus are providing the support for gold,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. While recent gains have once again attracted some profit taking, buyers are also returning, he said.

On their face, negative real yields imply great bearishness about the future of the economy. They also act as a great prop for gold, whose greatest disadvantage as a financial asset is that it pays no income. When safe assets like Treasuries effectively pay a negative return, gold therefore becomes that much more attractive.

Gold, forests, property stocks, inflation-linked bonds - these are just some of the assets investors are pouring money into on the view that the recent explosion of government spending and central bank stimulus may finally rouse inflation from its decade-long slumber.

U.S. home-mortgage delinquencies climbed in May to the highest level since November 2011 as the pandemic’s toll on personal finances deepened.

The European Central Bank’s most determined attempt yet to confront the German legal headache bedeviling its quantitative easing policy may emerge as soon as this week.That’s what its president, Christine Lagarde, hinted at after its June 4 decision...

The Eviction Lab and Columbia Law School’s Professor Emily Bender have developed a policy scorecard for each state, distilling the contents of thousands of newly-released emergency orders, declarations...

The International Monetary Fund (IMF) supported 70 countries with roughly about 25 billion dollars of emergency financing as the COVID-19 pandemic continues to ripple across the globe, Xinhua news agency reported.

A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in the second quarter, the IMF said on Thursday.

Perhaps almost as ominously, the number of people applying for unemployment benefits is still topping 2 million a week.

As the United States continues to face record unemployment due to the coronavirus pandemic, a "historically high" rate of 30% of Americans missed their housing payments in June.

Those earning the highest incomes have curbed their spending the most during the pandemic, according to a new report.

"The swift and unprecedented impact of COVID-19 left many people in a financial emergency..."     

The currency markets are currently facing "multiple cross-currents" amid fears over a potential second wave of coronavirus cases in the world, said Deutsche Bank's Sameer Goel.