Precious metals are apparently waking up. And here is where you can find the best deals.
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Inflows of gold into gold-backed ETFs set a quarterly dollar record in Q1 2020 as holdings increased by the most tonnage in any quarter since 2016.Gold-backed ETFs added 298 tons of gold through the first three months of 2020, amounting to $23 billion in net inflows. That pushed total holdings to a new record of 3,185 tons, according to data released by the World Gold Council.
Gold extended its rally to hit the highest level in more than seven years on concern that the coronavirus pandemic will have a devastating effect on the global economy, hammering corporate earnings while supercharging demand for havens.Futures in New York moved closer to $1,800 an ounce
“People may end up calling this the Greater Depression,” Bloom says. “I think the drop will be comparable to the Depression. The only question is about the rate of recovery.”
“I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mark Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.
S&P 500 could tumble to a range between 1,275 and 1,710 before a bull market resumes, writes Cam Hui.
New York-based JPMorgan, the largest U.S. lender by assets, reported first-quarter earnings that showed the growing toll of the new coronavirus on the nation’s economy and banking system.
"There's no doubt stock markets and currency markets are being hugely manipulated by central bankers,"
Venture capitalist Chamath Palihapitiya made waves when he said during a CNBC interview that the government should not bail out companies impacted by the coronavirus shutdowns. "On Main Street today, people are getting wiped out. Right now, rich CEOs are not, boards that have horrible governance are not," he said. "What we’ve done is disproportionately prop up poor-performing CEOs and boards, and you have to wash these people out.”During an interview on RT, Peter Schiff said he's been saying the same thing since day one.
Multiple Federal Reserve officials have used the phrase “building a bridge” in recent days to describe the central bank’s unprecedented actions across U.S. bond markets. In their minds, it’s the Fed’s job to do whatever it takes to keep credit flowing through the financial system...
An internal combustion engine that is leaking oil presents a difficult dilemma. In most cases, the leak itself is obscured if not completely hidden. You can only tell that there’s a problem because of secondary signs and observations.
The Federal Reserve faces harsh criticism of its plan to provide emergency funding to states and big cities, but not to small communities and organizations that may face tougher or less coronavirus fighting most important income.
About two million homeowners are skipping their monthly mortgage payments, according to new industry data, a number that is forecast to rise further as more Americans lose their jobs due to the coronavirus pandemic.
The U.S. Department of Agriculture will spend up to $15.5 billion in the initial phase of its plan to bolster the nation's food supply chain against the impacts of the coronavirus outbreak, according to three sources familiar with the matter.
“You have people running the government that have no clue about how the economy works and how their food gets to the table,” Massie told radio host Tom Roten.
The U.S. economy is in the midst of one of the deepest, most painful recessions the country has ever seen, but, as long as the pieces fall into place, it could also prove to be one of the shortest, according Pimco’s Joachim Fels.
The data speaks to a bigger fear haunting the commercial real estate industry: That Covid-19 could spark an even bigger mortgage crisis than the one in 2008, which devastated American homeowners.
...a global recession caused by Covid-19 could push an extra half a billion people into poverty - 8 percent of the world's population - unless urgent action is taken...
"...you get a bailout, you get a bailout, (almost) everybody gets a bailout..."
A visual explainer on what COVID-19 does to your body once you become infected, and how the virus uses our immune system against us.
Global cases: More than 1.9 million. Global deaths: At least 119,686. Most cases reported: United States (582,468), Spain (170,099), Italy (159,516), France (137,877), Germany (130,072)