Precious metals news

Home prices, measured by Case-Shiller, have sharply risen compared to average hourly earnings, rent, and the CPI, indicating a concerning housing bubble. In May 2006, prices were 49.2-52.9% above income, CPI, and rent. Now, they stand 38.0-69.4% higher. Rising rent forced many into home buying, intensifying the issue. Adding property taxes, insurance, and student loans worsens the situation. With mortgage rates above 7.0 percent, a prolonged period of weak housing is anticipated.

The Financial Stability Board warns of upcoming challenges and shocks in the global financial system due to rising interest rates, impacting economic recovery and sectors like real estate. The board's chair, Klaas Knot, emphasizes monitoring real estate for stress and urges proper risk management by financial providers. He highlights the need for consistent implementation of global bank capital rules by 2023 and tighter regulation of non-bank financial institutions. Policymakers are considering further refinements to address vulnerabilities exposed this year.

Gold and silver markets see some upward movement after trading lower since spring. Gold prices rise 1.2% to $1,950/ounce, while silver remains unchanged at $24.47/ounce this week. Platinum gains 1.8% at $985, and palladium dips 3.8% to $1,271/ounce. Signs of strength appear as markets anticipate the end of Federal Reserve rate hikes. Fed's preferred inflation gauge shows a 4.2% annual rate, above the 2% target. Some speculate the Fed may raise the target to 3% or 4%. Investing in precious metals can protect against inflation, as history shows gold's purchasing power grew from $20 to $2,000 per ounce in 100 years.

Inflation is a result of excessive money printing by the Federal Reserve. Trillions of dollars since the 2008 crisis inflated stock prices and enriched the super-rich. Sanctions on Russia worsened the situation. US CPI shows around 17.3% inflation, the highest in 75 years. It's not due to Russia's actions but the Fed's money creation. The US, UK, and EU are in a deep-seated inflationary cycle that won't ease soon. The rich can weather it, while ordinary people suffer. This inflation is not "transitory" and may be a permanent fixture.

Over the past decades, the media has spotlighted foreign terrorism while turning a blind eye to the terror perpetrated by those in power. Governments and enforcement agencies are the true terrorists, exploiting fear to maintain control. This includes the recent 'pandemic' scare. Orchestrated crises like the bogus 'climate change' agenda and the impending digital currency takeover are imminent threats to freedom. The clock is ticking, and urgent action is needed to divert this perilous course.

I've been saying that the government job numbers seem wonky. Looking at the monthly revisions bear this out. Every month this year, the Bureau of Labor Statistics has revised the nonfarm payroll numbers from previous months lower.

Top Senate Democrats are gearing up to confront House Republicans over government funding as the specter of an October shutdown looms ominously. While a bipartisan Senate group collaborates on a stopgap spending bill, House Republicans are embroiled in internal disputes over matters such as emergency aid and spending size. Senate Democrats, rallying behind a $1.59 trillion discretionary budget agreed upon with President Biden, are poised to present a united front, exacerbating divisions within the House GOP. As tensions escalate, the prospects of a debilitating shutdown cast a grim shadow over the already polarized political landscape.

The eurozone's economic challenges are marked by stagflation risk, inflation concerns, and weak growth. Despite significant stimulus efforts, central planning has yielded poor growth and elevated debt. The ECB's inflation target remains unmet, leading to interest rate hikes, but the burden of normalization falls on the productive sector. Next Generation funds show limited impact, as weak manufacturing and service indices persist. Rising rates, lagging technology innovation, and high taxation add further headwinds

China's major banks are stepping in to extend billions of dollars in loans to Russia, capitalizing on western lenders exiting due to sanctions following Russia's invasion of Ukraine. The four largest Chinese banks have substantially increased their exposure to Russia's banking sector since 2022, with their combined exposure rising from $2.2 billion to almost $10 billion. The move underscores the impact of sanctions and the shift towards Chinese institutions filling the void left by western banks.

Chinese President Xi Jinping's absence from the upcoming G-20 meeting has sparked speculation about his focus on bolstering the BRICS forum. This shift away from the G-20 suggests Xi's strategy to consolidate power within dependable groupings. It also raises questions about China's unpredictability and potential impact on its global reputation and economic stability. The move underscores the growing significance of the BRICS bloc and its potential to influence international dynamics.

Peter Schiff recently appeared on the Capitol Report on NTD News to talk about the state of the US economy. He explained how government spending has created the price inflation Americans continue to struggle with, and how it has bankrupted the United States.

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While the Bakken isn't running out of drilling locations yet, it is certainly running low on the higher-quality sites in the four counties that provide 93% of production.  Few Americans realize that most of the shale oil comes from just a few counties in these large shale fields...

While natural gas prices have remained low since the beginning of Spring, the natural gas market may experience significant price volatility over several weeks.  Why?  There are major supply and demand forces that could disrupt the natural gas market and price in September...

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Throughout history, gold's value has surged during bull markets, sometimes exceeding the monetary base by over 1.5 times. Even after the US abandoned the gold standard, this trend persisted, emphasizing gold's enduring significance. Presently, with the Fed's balance sheet expansion, projecting gold's price surge might seem audacious. If excess reserves are excluded, a conservative scenario, gold would still need to hit $14,000 per ounce for 1.5 times coverage. However, historical precedents show that gold could reach as high as $32,000 per ounce under certain conditions. This pattern emerged twice in the past century, during the deflationary 1930s and inflationary 1970s. In both periods, gold emerged as the preferred asset, driving its valuation to unprecedented levels. Amid potential financial turmoil this decade, investors are likely to flock to gold, potentially pushing its value to new extremes.

Gold is prized for its stability and ability to maintain value during currency fluctuations caused by inflation. This makes it a reliable hedge against uncertainty, exemplified by its record-breaking performance during the Covid-19 pandemic. Its inclusion in investment portfolios helps diversify risk due to its distinct performance from other assets. As a tangible asset, gold offers a sense of security and ease of access, and its limited supply contributes to its potential appreciation. Universally recognized and accepted, gold's global appeal has made it a timeless investment choice.

Gold's recent resilience amid rising real rates suggests a growing concern about recession risks. While the idea of certain markets predicting the future is met with skepticism, gold's performance shouldn't be ignored, especially when it aligns with other indicators. Historically, gold tends to shine during recessions, outperforming major asset classes like stocks, bonds, and commodities. While stocks rally before a recession and then plummet, gold's behavior remains steady. However, an upcoming recession might bring elevated inflation, altering the usual market dynamics.

Bank of America Corp. strategists warn that despite the Federal Reserve's rate hike pause, US stocks are at risk of a harsh economic downturn. Labor market weakening indicates the Fed's caution, but strategist Michael Hartnett predicts a hard landing becoming more apparent soon. He advises selling after the last rate hike. Barclays Plc strategist Emmanuel Cau adds that the market's optimism about weak economic data benefiting stocks has its limits, especially if earnings are impacted, and suggests that the fate of equities could hinge on the US consumer.

U.S. Treasuries are on track for their worst yearly performance since the Declaration of Independence. Despite hopes of a soft landing for the U.S. economy, aggressive Fed rate hikes and ongoing stimulus have led to a third consecutive year of declining Treasury values. On the other hand, equity funds saw $10.3 billion in net inflows. However, the optimism in equity markets is not translating to the broader picture. BofA notes that MSCI's All Country World index is at its narrowest since 2003, highlighting the lack of breadth in global markets.