Precious metals are apparently waking up. And here is where you can find the best deals.
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This is a very strange situation for gold. Due to the Fed continued Repo Market intervention and the $60 billion a month in U.S. Treasury purchases, it seems that gold just won’t selloff or correct down to that $1,360 breakout level.
“Gold continues its breakout higher as it is now at the highest level since April 2013,” wrote Peter Boockvar, chief investment officer at Bleakley Advisory Group, in a Monday research report.
"The zeitgeist of the day should be central bankers are trapped and they can never raise interest rates... you have to preserve your purchasing power, and that means owning gold..."
Traders have firmed in their conviction that that the Federal Reserve will trim interest rates further as concern swirls around the deteriorating global geopolitical situation.
Interest in repo operation was a little higher than the past couple of interventions...
Every central bank "save" & every tsunami of stimulus has eroded systemic buffers. Now that everyone is counting on the current tidal wave of stimulus to lift all boats, the buffers will give way in a disorderly systemic destabilization.
Given the environment, countries need strong tool kits to fight potential asset bubbles “and this is something that is lacking in the United States,” Yellen said.
Investors are piling in to US inflation-linked bonds, as the Federal Reserve embraces the idea of letting consumer price-rises run above target to avoid the sluggishness that has dogged much of Europe and Japan.
Blackstone Vice Chairman Byron Wien has issued his traiditional list of Ten Surprises for 2020 (together with Joe Zidle, Chief Investment Strategist in the Private Wealth Solutions group at Blackstone).
Former Fed Chair Ben Bernanke is back in action doing what he does best, making a fool out of himself.
Former Federal Reserve Chairman Ben Bernanke cited the benefits of at least keeping the option alive to take short-term rates below zero. Doing so, he said, would give the Fed flexibility at a time when its policy toolkit is limited.
The minutes from the central bank’s latest meeting say officials intend to look at a so-called standing repo facility, an option analysts have been looking at for months. The issue has drawn more attention since repo rates jumped higher in September.
I see four compelling reasons for the price of the precious metal to add to recent gains in 2020.
In 2019 central banks once again succeeded in masking all the underlying problems in the economy, the underlying structural problems of debt, deflation and demographics, and the slowing of global growth and offering the pretense that 2019’s policy responses were nothing but a complete system failure...
The previous year in the financial markets was definitely dominated by central banks. The most rememberable was the fact that they've changed their course in conducting monetary policy by 180 degrees, turning from tightening financial conditions to full easing.
The U.S. & the rest of the industrial world may have to resign themselves to an extended period of slow economic growth, subdued inflation & low interest rates. The trick will be in avoiding something even worse.
William Dudley, who used to oversee the Federal Reserve’s interaction with financial markets, said the central bank should introduce a long-discussed but never implemented tool to ensure U.S. cash markets remain calm.
The resulting gold selloff will certainly yank the rug out from under the surging gold stocks. Here's why...
Gold surged to its highest since 2013 as rising tensions in the Middle East stoked demand for havens, with Goldman Sachs Group Inc. seeing more room to run. Palladium extended gains to a fresh record.Bullion neared $1,600 an ounce after Tehran said it would no longer abide by any limits
The U.S. and the euro area face daunting economic challenges in a world of low inflation and interest rates and central banks alone don’t have the tools to cope.