Precious metals are apparently waking up. And here is where you can find the best deals.
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COWEN: Of countries with a population 5 miilion or more, ranked by the percentage of the population that has been tested for #covid19, the US is .. last, at 0.6%
U.S. statistical agencies are struggling to measure the economy during disruptions from the coronavirus pandemic, with lockdowns and business closures making it harder to gather information.
Even with a record stimulus package, Japan’s economy is heading toward a record contraction of 25% this quarter following Prime Minister Shinzo Abe’s declaration of a state of emergency in Tokyo,
Digging out from the deep hole caused by the coronavirus won’t be quick or easy.
Bernanke’s prognosis for the economy was pretty grim, however, saying gross domestic product on an annualized basis could fall by 30% or greater in the second quarter.
"I want to assure all small businesses out there: We will not run out of money," Mnuchin said. He's confident Congress will OK more funds.
In the past three weeks, the measure has plummeted more than 13 points, also the steepest drop in records back to 1985...
Gold prices declined as the Federal Reserve whittled down the money supply last decade. Now gold is primed to rocket like it did in 2008.
President Trump recently signed a $2 trillion stimulus bill, ostensibly to support the economy through the coronavirus crisis. Pundits hailed it as a great bipartisan accomplishment that will help ease the pain of this economic slowdown. Of course, there will still be pain. And the government stimulus may actually cause more pain than it eases in the long run.
Global gold-backed ETFs (gold ETFs) and similar products added 298 tonnes(t), or net asset growth of US$23bn, across all regions in the first quarter of 2020 – the highest quarterly amount ever in absolute US dollar terms and the largest tonnage additions since 2016.
Former Federal Reserve Chair Janet Yellen is making the media circuit and pontificating about the evolving economic crisis. As Peter recalled on his podcast, it wasn't long ago that Yellen was saying she didn't think we would ever see another financial crisis “in our lifetime?”Yet, here it is, just a few years later, and we already have another financial crisis."
...the fundamentals for gold are stronger each day, and silver and palladium should not be ignored in the current crisis...
Those that will retain their value or increase their value during reflationary periods (e.g., some gold and some stocks).”
Russian banks have asked the central bank to resume buying gold for its reserves with exports of the precious metal hobbled by the coronavirus outbreak, their lobby group said.
The breadth of the collapse is beginning to appear in the initial trickle of economic data across the world, revealing a cratering of trade, reined-in business investment, cowering consumers and surging unemployment that’s sparing few industries.
Major economies are seeing the biggest monthly slump in activity ever amid the coronavirus crisis and no end is in sight without clarity about how long lockdowns will last, the Organisation for Economic Cooperation and Development said on Wednesday.
WTI is down 56% this year, and some obscure corners of the U.S. market have even seen negative prices. But a drop below $1 for headline prices seems a long shot. Still, traders have been snapping up contracts that would profit from crude at phenomenally low levels.
There seems to be some optimism in the markets that the end of the coronavirus shutdown is getting closer. There is also this resistant myth that the economy will just fire back up at the snap of a finger. Peter Schiff recently appeared on RT Boom Bust along with Christy Ai to talk about the markets and the pandemic. He said people are still far too focused on the pin and not the bubble that it popped.
Markets are obviously braced for declining or stagnating prices. The recent fall in oil, driven by the breakdown in OPEC discipline, has only accentuated a long-running trend. Other commodities have fallen in line with oil. This implies a sluggish economy and deflation:
S&P500 companies accounting for 27% of aggregate 2019 stock buybacks have suspended their programs...