Precious metals news

Citi analysts predict a significant shift in gold ETF flows as the key driver for higher gold prices in 2025. After years of outflows, they expect a reversal, with gold ETFs contributing a net demand of 275 tonnes by 2025, compared to net selling of 250 tonnes in 2023. This change, along with factors like potential Fed rate cuts and increased recession risks, could drive gold prices to $3,000 per ounce by mid-2025. The projected increase in ETF demand share of gold mine supply from 1% in 2024 to 7-7.5% by 2025 signals a substantial change in market dynamics, potentially leading to a new gold bull market.

Gold prices have reached record highs in August 2024, surpassing $2,500, yet UBS analysts believe the market is not overvalued. They cite favorable macroeconomic factors, including dovish Fed expectations, lower real rates, and a weaker US dollar, as driving forces behind gold's ascent. Despite the price surge, market positioning indicators suggest room for further growth, with net long positions on Comex below historical highs and sustained inflows into gold ETFs. UBS also notes the reestablishment of gold's negative correlation with US real interest rates and its dual role as both a safe haven and a correlated asset with risk markets, supporting their positive outlook for gold's continued strength.

The Federal Reserve's July meeting minutes reveal that most officials favor a rate cut in September if inflation continues to cool. With inflation falling from its 2022 peak of 7.1% to 2.5%, policymakers are considering easing monetary policy. While the benchmark rate remains at a 23-year high of 5.3%, market expectations and economic indicators suggest a potential rate cut is on the horizon. Fed Chair Jerome Powell's upcoming speech at Jackson Hole is anticipated to provide further insights into the central bank's stance on inflation, rate cuts, and economic outlook. The Fed faces the challenge of balancing inflation control with concerns about labor market health and potential political implications of rate decisions near the election.

Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole Economic Symposium is highly anticipated as markets and economic stakeholders seek clues about potential interest rate cuts. With inflation cooling and concerns shifting towards the labor market's health, Powell is expected to signal the Fed's increasing confidence in reaching its 2% inflation target while potentially hinting at the timing and extent of future rate reductions. The speech comes at a crucial juncture, as the Fed balances the risks of inflation with potential economic slowdown, making it a pivotal moment for monetary policy direction.

Gold prices remain bullish, trading above $2,500, as weaker U.S. yields and a declining U.S. dollar support its safe-haven status. Recent downward revisions in Nonfarm Payrolls data have raised concerns about a weakening U.S. labor market, potentially influencing Federal Reserve rate decisions. The market anticipates possible rate cuts, with attention now on upcoming economic indicators and Fed Chairman Powell's speech at Jackson Hole. Gold's consolidation near resistance levels suggests potential for further gains, reflecting its ongoing sensitivity to economic indicators and monetary policy expectations.

Canadian stock futures remained flat on Thursday as declining gold prices offset optimism surrounding potential U.S. interest rate cuts in September. Investors are closely watching materials and energy sectors, while anticipating Fed Chair Jerome Powell's speech at the Jackson Hole Economic Symposium for insights into future monetary policy. The market is balancing various factors, including recent record highs in the S&P/TSX composite index, upcoming economic data, and bank earnings reports.

Gold prices have reached an all-time high, closing above $2,514 per Troy ounce on Tuesday. This surge is attributed to several factors, including a weaker U.S. dollar, expectations of Federal Reserve interest rate cuts, strong demand from central banks, and global economic and geopolitical uncertainties. While some view gold as a safe haven investment, others caution about its volatility and potential risks. Investors are advised to carefully consider their options and be aware of market dynamics before making decisions.

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The Federal Reserve's July meeting minutes reveal that several officials saw a case for cutting interest rates, with the majority expecting a rate cut in September if economic data aligns with expectations. This shift in sentiment reflects growing confidence in inflation progress and increased concerns about employment risks. The minutes highlight a more balanced view of risks to the Fed's dual mandate, suggesting that policymakers are preparing for potential rate cuts while closely monitoring economic indicators. This development comes amid recent data showing slowing job growth and easing inflation, which could support the case for monetary policy easing in the near future.

The US Bureau of Labor Statistics has revised its employment figures, revealing that as of March 2024, there were 818,000 fewer jobs than initially reported. This significant downward adjustment suggests that the labor market may have been cooling earlier than previously thought. The revision primarily affected the professional and business services sector, as well as leisure and hospitality. Despite the adjustment, economists caution against overinterpreting the data, as it remains backward-looking. However, this revision, combined with recent weak job reports and rising unemployment rates, has led some to question whether the Federal Reserve's current monetary policy is too restrictive. The data comes at a crucial time for labor market analysis and may influence future economic decisions.

Zimbabwe has introduced a new gold-backed currency called ZiG (Zimbabwe Gold) to replace its devalued dollar and stabilize its economy. Despite government efforts to promote the ZiG through various means, including music and public campaigns, it faces public mistrust and devaluation on the black market. The government is taking strict measures against currency dealers and businesses to support the ZiG, while also reporting increased usage in transactions. However, the U.S. dollar remains dominant in the country, with the government aiming to phase it out in favor of the ZiG by 2026.

Amidst Venezuela's severe economic crisis, many citizens have turned to playing the online game RuneScape as a means of survival. By "gold farming" - accumulating in-game currency to sell for real money - players can earn significantly more than the country's minimum wage. This practice has become so widespread that it's considered a mainstream way to make money in Venezuela. Many players use their earnings to support their families or even fund their escape from the country. While gold farming violates the game's rules, for Venezuelans facing extreme poverty and hyperinflation, it has become a crucial lifeline, allowing them to earn U.S. dollars or cryptocurrencies that retain value unlike the Venezuelan bolivar.

Major global ports, which handle 80% of the world's $25 trillion annual merchandise trade, are becoming increasingly important in geopolitical struggles and economic strategies. These ports are undergoing significant transformations to adapt to digital technologies, automation, and green energy, with an estimated investment of €2 trillion over the next decade. As geopolitical tensions rise, ports are becoming strategic assets in the competition between world powers. This will require careful management and substantial investment to maintain their relevance and efficiency in a rapidly changing global landscape.

A sudden rush to buy gold in Iran on Sunday was driven by a religious superstition spread through social media. Influencers claimed that purchasing gold on the 13th day of the Islamic month of Safar would bring prosperity, attributing this advice to the sixth Shia Imam. This led to unprecedented crowds at jewelry shops, with people buying small gold items or symbols of desired possessions. The phenomenon highlights the power of social media in shaping beliefs and behaviors, as well as the economic anxieties of a society with diminished purchasing power. While some view it as a marketing ploy by goldsmiths, others see it as a reflection of widespread superstition and the search for hope in challenging economic times.

Gold prices reached new heights on Tuesday, driven by strong demand from central banks and investors anticipating a Federal Reserve rate cut. The precious metal's value has surged over 23% this year, touching record levels above $2,525 per ounce for spot gold and $2,560 for futures contracts. This rally is fueled by central banks' record gold purchases, geopolitical tensions increasing its safe-haven appeal, and expectations of lower interest rates. Analysts predict further price increases, with UBS Global Wealth Management forecasting gold to reach $2,600 per ounce by the end of 2024.

Gold prices have paused after reaching record highs, as investors await signals from the Federal Reserve regarding potential interest rate cuts. The market is consolidating ahead of the release of Fed meeting minutes and a speech by Chair Jerome Powell. Despite a weakening dollar and lower Treasury yields, gold has retreated slightly from its all-time peak but remains above $2,500 per ounce. Analysts expect continued rate cuts and predict gold prices could rise further, potentially reaching $3,000. Factors supporting gold's strong performance include geopolitical tensions, U.S. election uncertainty, Chinese investor demand, and expectations of a weaker U.S. dollar.

Has the U.S. Shale Oil Peak finally arrived?  Or is it Later?  The EIA - U.S. Energy Information Agency just forecasted the Permian production to continue to increase into 2026.  Will it?  In my newest video update, I provide the charts from the different shale fields...

In this eye-opening video, Mike Maloney delves into the dark truths of the global monetary system under fiat currency. Discover how the current system is built on IOUs that sell off your future labor, creating a cycle of debt and economic enslavement. Learn the stark differences between real money under the gold standard and the modern-day fiat currency that is created out of thin air. We uncover the fraud behind bank credit creation and how this system devalues your hard-earned money, robbing you and future generations of wealth and freedom.

The U.S. economy under both Trump and Biden administrations showed strengths and weaknesses, with each facing unique challenges. Both presidents oversaw periods of economic growth, strong stock market performance, and low unemployment rates. However, Biden's term has been marked by higher inflation and increased federal debt, while Trump's economic legacy was significantly impacted by the COVID-19 pandemic. Biden has seen strong job growth as part of the post-pandemic recovery, but consumer sentiment remains lower than during Trump's presidency. Overall, the economic picture is complex, with each administration's policies and external factors contributing to the current state of the U.S. economy.

Gold prices have reached a new record high, driven by a weakening US dollar and increased buying from Western investors. The surge comes as markets anticipate potential interest rate cuts by the Federal Reserve in September. Despite muted demand in China, the world's largest gold consumer, the precious metal has gained 22% this year, benefiting from its status as a safe-haven asset amid economic uncertainties. Investors are closely watching Federal Reserve Chair Jerome Powell's upcoming speech at Jackson Hole for further insights into monetary policy direction, which could impact gold's trajectory.