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Color-Coded Calamity: Keeping Track of Who's Wearing What and Why in FranceFeb 1, 2019 - 05:12:08 PST
"Yellow vests, blue vests and red scarves — Here's why the French are protesting."
January Global Factory PMI Numbers Dismal, Posting Weakest Showing in YearsFeb 1, 2019 - 05:08:41 PST
"Unfortunately, the situation still looks set to get worse first. We have to brace ourselves for an ongoing string of weak economic data driven by, but not confined to, much weaker global trade."
Deutsche Tank: Dismal Earnings Report as Clock Ticks on Germany's Shakiest BankFeb 1, 2019 - 05:02:08 PST
"Another quarter, another dreadful quarterly report from Deutsche Bank," as ramping speculation suggests the bank may be forced by the German government to merge with Commerzbank in a last-ditch effort to prop it up.
"A new legal case appears to show the Government was much more involved with a scandal at RBS than has previously been disclosed."
Reuters: Be Careful What You Wish For — Market-Reactive Fed Signals Systemic RiskFeb 1, 2019 - 04:38:33 PST
"The Federal Reserve’s policy twist on Wednesday might seem just what the White House ordered...but the story the Fed is telling about the economy should give the Trump administration pause."
"California’s largest pension funds, CalPERS and CalSTRS, have about 2 million shares of PG&E stock. The value of those holdings has plummeted since 2016."
Four of the biggest names in gold have come together and they're talkin' gold. What's 2019 looking like for gold? Hear it from these four heavy hitters...
There are many hands in Venezuela's golden cookie jar, but now, something about those cookies stinks to high-Heaven...
"The 10-year yield ticked back up to 2.63%, while the DX rebounded to 95.62. Gold was $1,320 bid at 4PM with a gain of $2."
Reuters: Venezuela Prepares to Fly 15 Tonnes of Central Bank Gold to UAEJan 31, 2019 - 12:09:26 PST
"Venezuela will sell 15 tonnes of gold from central bank vaults to the United Arab Emirates in coming days in return for euros in cash."
"A slowing global economy and low inflation have central banks around the world rethinking plans to gradually pull back financial stimulus from markets and the banking system."
"Goldman Sachs is being accused of bilking a corporate client who hired the investment bank to advise it on a $2.9 billion takeover last year."
"...Bank of England reputation’s as an impartial and safe location for the storage and trading of gold looks to have been irreversibly damaged."
Central Banks Bought More Gold Last Year Than in Any of the Previous 48 YearsJan 31, 2019 - 06:54:05 PST
"Central banks bought more bullion last year than any time since 1971, when the U.S. ended the gold standard."
"Other bidders have made offers for the carbon assets, while Valcambi and Asahi have bid for the entire company."
Craig analyzes the improving technical picture, which will be a key driver for the necessary movement of institutional money into gold in the weeks ahead...
"Demand is also likely to rise on an increase in the number of days considered auspicious to buy bullion in the Hindu calendar in 2019."
"The White House said President Donald Trump spoke to Venezuela’s self-proclaimed interim president, Juan Guaido, by phone on Wednesday, reiterating support for his 'fight to regain democracy.”
The Federal Reserve Open Market Committee met yesterday and held interest rates steady in the 2.25-2.50% range. This wasn't really a surprise. More significantly, Fed Chair Jerome Powell kept up the dovish rhetoric, saying, "The case for rate increases has diminished. I would need to see a reason for further rate hikes that would have to include higher inflation."We've called this the Powell Put, and it appears it's still solidly in play. But in his most recent podcast, Peter Schiff called it the "Powell Pause" and said it wasn't going to be enough.
A Merger Nobody Seems to Want — Deutsche Bank May Be Down to Its Last 60 DaysJan 31, 2019 - 05:32:19 PST
"Deutsche Bank AG executives are worried that they’re down to the last 60 days to turn around their struggling franchise."