Precious metals news

So much for "whatever it takes."

The Fed is now dangerously behind the curve, with the funding market threatening to lock up at any moment.

With stocks looking set to open sharply lower, investors will be watching for more market circuit breakers that can halt trading.

The US is heading for economic lockdown as the impact of the coronavirus grows. To cope with the crisis, President Trump has promised fiscal stimulus. The actual plan remains unclear, but the Trump administration has floated a reduction in payroll taxes, along with bailouts and loan guarantees for struggling industries. While the details are murky, one thing is certain — it will cost billions of dollars.
Meanwhile, the US government is already living far above its means. Uncle Sam recorded another massive budget deficit of $235 billion last month, according to the latest Treasury Department report.

Richter sees likely more pain is ahead for the market and the economy, with the possibility of a lost decade or more, as in Japan in the 1990s, where monetary policies have failed to boost their economy for decades.

Economist Mohamed El-Erian said Wall Street talk of a quick down and up won't become a reality. He said the market chart would look like a "U" or an "L," not a "V."

The ECB’s announcement comes after both the Federal Reserve & the Bank of England announced stimulus measures in response to the outbreak.

SELL ALL OF YOUR GOLD RIGHT NOW AND JUST BUY THE FREAKIN' STOCK MARKET DIP ALREADY!

The 11-year bull run is over.
After a rebound on Tuesday based on hopes of government fiscal stimulus, US stock markets plunged again Wednesday and officially moved into bear territory.

THE LBMA/COMEX DIGITAL DERIVATIVE AND FRACTIONAL RESERVE PRICING SCHEME IS ONE OF THE GREATEST SCAMS EVER INVENTED...

With the spread of the Global Contagion, the demand for physical precious metals has increased significantly. According to the U.S. Mint’s newest update, another million Silver Eagles were sold over the past two days.

Highlight: “The potential impact of coronavirus [on gold]… is actually in two different directions,” @StateStreetETFs Head of Gold Strategy George Milling Stanley says.

Gold held its ground as the disruption to the global economy from the coronavirus pandemic intensified, with President Donald Trump restricting travel from Europe to the U.S. Investors shunned risk assets from equities to industrial commodities.

Coronavirus-induced market mayhem has pushed so much liquidity out of U.S. Treasuries that the true value of more than $50 trillion in assets around the globe is in doubt.Yields in the world’s largest debt market have been on a mind-bending, three-week roller-coaster ride. At one point

Banks may incur credit losses depending on whether businesses like malls and hotels have sufficient cash on hand for shortfalls

Under duress from a viral pandemic and plummeting oil prices, corporate America is facing its most severe test since the 2008 crisis. A swath of the nation’s biggest names is maxing out credit lines, grabbing cash before it can disappear.

Trump this week tried to get Treasury Secretary Steven Mnuchin to push Federal Reserve Chair Jerome Powell to do more to boost the economy and stem the stock market’s decline, the Washington Post reported on Wednesday.

Nouriel Roubini, chairman and chief executive officer of Roubini Macro Associates, warns about a looming credit crisis and global recession.

There isn’t a freeze in credit yet, but researchers at the world’s largest asset manager thinks the coronavirus is the kind of threat that should spur policy makers in the U.S. and beyond to offer government lending programs similar to those put in place a decade ago in the wake of the global financial crisis.

Around 6.5 million lower income Australians will receive a one-off $750 payment aimed at boosting domestic demand in the economy, costing the budget $4.76bn.