Precious metals news

The world's largest Bitcoin Mining Company is gambling BIG TIME on the backs of shareholders and debt for the much-anticipated "Bitcoin Doubling" to occur.  Unfortunately, the supposed Bitcoin Doubling is getting pushed back further and further... oops...

Gold jewelry remains popular for Chinese weddings, but young couples are increasingly opting for cost-effective alternatives. While traditional gold pieces like dragon-and-phoenix bracelets are still sought after, many newlyweds are choosing more affordable options or forgoing elaborate jewelry altogether. Despite higher gold prices, the demand for wedding jewelry is expected to grow, with gold maintaining its dominance in China's jewelry market. However, the younger generation is now making decisions based on personal preferences and budget considerations, shifting away from parental influence.

The Israel-Hamas conflict has escalated once again, with Hamas launching rockets at Tel Aviv in response to Israeli airstrikes on Gaza. This exchange of fire, along with Israel's redeployment of troops to northern Gaza, highlights the ongoing threat perceived by Netanyahu's government despite significant losses inflicted on Hamas over the past year of war. The conflict continues to exact a heavy toll on civilians, with thousands killed and widespread destruction in Gaza.

The recent jobs report has revived the "no landing" scenario in the bond market, challenging previous expectations of slowing growth and aggressive rate cuts. This unexpected economic strength, characterized by rapid job growth, falling unemployment, and rising wages, has caused Treasury yields to surge and forced investors to reconsider their positions on potential interest rate reductions. The situation has created a complex landscape for traders and the Federal Reserve, as they grapple with the possibility of continued economic expansion and potential inflationary pressures.

The upcoming week will focus on two key economic events: the release of the October Consumer Price Index (CPI) report and the start of third quarter earnings season. The CPI report will provide crucial insights into inflation trends, while major financial institutions like JPMorgan, Wells Fargo, and BlackRock will kick off earnings reports on Friday. These events will likely shape investor sentiment and market movements in the days ahead.

Gold held steady as traders adjusted their expectations for Federal Reserve rate cuts in light of robust US jobs figures. Trading close to $2,660 an ounce, gold remained below its recent record high. Treasury yields climbed back to 4%, reducing the probability of a major rate cut in November. Despite gold's 29% rally this year, fueled by rate cut optimism and geopolitical factors, recent market data indicates a more measured approach from investors.

Gold prices inched up on Monday due to increased safe-haven demand amid escalating Middle East tensions, while investors await U.S. inflation data for insights into potential Federal Reserve rate cuts. The market is balancing between a strengthening dollar and geopolitical uncertainties, with upcoming economic indicators expected to provide clearer direction for gold's near-term performance.

What interesting geopolitics we had in the world this past week.  In my latest update, I share a Must-See Gold chart and discuss Metals Focus's latest update on how the Silver miners' costs have surged in the past few years.  I believe silver will continue to be one of the best assets to own in the future...

The world is unprepared for the coming Squeeze in "Net Oil Exports."  While the peak and decline in global oil supply is bad enough, the impact on net oil exports will be far worse.  Unfortunately, no one is really tracking this information anymore...

The golden bull is charging – are you ready to ride? Why Goldman Sachs just raised their gold forecast... again

Oil prices have surged due to escalating tensions in the Middle East, with Brent crude and WTI futures both rising over 5% to reach one-month highs. The market is concerned about potential disruptions to global oil supply, particularly if Israel targets Iranian oil infrastructure. President Biden's ambiguous comments about supporting such actions have further fueled speculation, while Iran's significant oil production capacity adds to the market's unease.

Gold prices declined slightly Friday morning following a stronger-than-anticipated U.S. jobs report, which strengthened the dollar and reduced expectations for a significant Federal Reserve rate cut in November. The robust employment data, showing accelerated job growth and lower unemployment, suggests less pressure on the Fed to implement aggressive rate cuts.

The port strike involving tens of thousands of dockworkers along the East and Gulf Coasts of the United States has been suspended following a tentative agreement on wages between the International Longshoremen's Association and the U.S. Maritime Alliance. The deal includes a significant wage increase and extends the current contract until January 15, 2025, allowing time for further negotiations on outstanding issues. This agreement ends a three-day strike that had threatened to disrupt supply chains and the U.S. economy.

In this eye-opening video, Mike Maloney dives deep into the economic warning signs that signal an impending financial crisis.

As autumn leaves begin to fall, investors often feel a chill that has nothing to do with the weather.

As mortgage rates approach 6%, a refinancing wave is gaining momentum. Mortgage applications have surged, with volume last week tripling compared to the previous year. Homeowners who bought when rates were above 7% can now save hundreds of dollars monthly by refinancing. While not yet at pandemic-era levels, the trend is significant and could intensify if rates continue to decline as economists predict.

The dockworkers' strike against automation highlights a growing trend of workers across various industries pushing back against technological advancements that threaten job security. This labor action reflects a broader societal concern about the impact of automation and AI on employment, with unions taking proactive measures to protect their members' interests in the absence of comprehensive workplace policies addressing these issues.

President Biden's comments on potential Israeli strikes against Iranian oil facilities have caused a significant surge in oil prices, raising concerns about global supply disruptions. The market's reaction reflects heightened tensions in the Middle East and the possibility of escalating conflict between Israel and Iran, which could impact a region responsible for about one-third of global oil supply.

Central banks continued to accumulate gold in August 2024, albeit at a slower pace compared to earlier in the year. Net purchases totaled 8 tonnes, the lowest since March, with emerging market central banks leading the buying. Poland, Turkey, and India were the top purchasers, while Kazakhstan reduced its holdings. Despite the moderation in demand, central banks' gold reserves are still growing, reflecting their ongoing interest in the precious metal as a strategic asset.

JPMorgan analysts suggest that the recent surge in gold and bitcoin prices is driven by a "debasement trade," reflecting concerns about geopolitical uncertainty, inflation, government deficits, and waning confidence in fiat currencies. This trend may continue due to rising geopolitical tensions and the upcoming U.S. election, with a potential Trump victory potentially reinforcing the debasement trade through regulatory changes, tariffs, and expansionary fiscal policy.