Precious metals are apparently waking up. And here is where you can find the best deals.
Site:
Precious metals news
After the prior week's surprise surge in initial jobless claims (to the highest since Oct 2021), last week was expected to see a modest slowdown from 261k to 245k. However, things remain troublesome with 262k Americans filing for unemployment benefits for the first time last week (the same as an upwardly revised 262k the week before)...
Retail Sales Unexpectedly Surge In May Led By Autos and Building MaterialsJun 15, 2023 - 06:16:58 PDT
While consensus expectations for retail sales data this morning were expected to contract (headline) or grow very modestly (core); BofA's seemingly omnipotent analysts warned that numbers could be considerably hotter than expected - perhaps due to the recent near-record surge in credit card debt...
"Time will tell if future Fed officials are as resistant to political pressures as its current leadership, succumb to seemingly ever-resurgent MMT influences, or exercise great responsibility in maintaining a sound monetary policy." ~ David Gillette and Lauren Frazier
Jun 15, 2023 - 06:00:22 PDT
In the run-up to this week’s meeting, faultlines had emerged between officials over how much more pain to inflict on borrowers. Those advocating for a more cautious approach cited the possibility that the cumulative effect of the Fed’s tightening had yet to show up. That could result in unnecessary pain for an economy that, on the face of it, still seems to be remarkably resilient.
As with anger, guilt may be too strong a word. But Powell over time became more open in acknowledging that the Fed had gotten its inflation forecast wrong and more blunt in saying damage to the job market might be necessary. On Aug. 26, 2022, again speaking at the Jackson Hole conference: "While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation."
Rising global rate expectations are likely to be disappointed as slowing inflation significantly tightens real rates through the rest of the year, allowing central banks to deliver fewer hikes than priced.
Jun 15, 2023 - 05:54:25 PDT
As the Federal Reserve signals it will likely tighten the money supply further, corporate treasurers are scrambling to cope with the impact of more than a year of central bank rate hikes, taking steps like cutting costs and paying down debt.
A hawkish message from the Federal Reserve amid a robust stock market rally is presenting investors with a conundrum: how to maintain exposure to rising equities while also guarding against the possible upheavals tighter monetary policy can bring.
Policy-sensitive front-end Treasuries sold off Wednesday, while longer-date bonds rallied, after Fed officials indicated that they’re prepared to raise interest rates by another half-point this year following the first pause in the central bank’s 15 month hiking campaign. That sent the yield-curve inversion, as measured by the gap between two- and 10-year securities, to more than 90 basis points — a level last seen in March — and approaching this cycle’s 109 basis point extreme.
Investors expect the US Federal Reserve will keep raising interest rates, with most not anticipating cuts to begin until well into 2024.
China’s weakening economy prompted the central bank to cut interest rates for the first time since August, and expectations are growing for more stimulus targeted at ailing industries including the property sector.
A shift in Britain’s mortgage market is delaying the impact of higher interest rates on the economy, increasing the risk of the Bank of England fumbling its decision on how much more it needs to do to curtail inflation.
European Central Bank Raises Rates by 25 Basis Points After Fed Opts to PauseJun 15, 2023 - 05:32:27 PDT
The European Central Bank raised rates on Thursday as it attempts to bring down persistently high inflation.
Nasdaq futures are leading US stocks lower early on Thursday, as investors weigh the Fed's plan for two more hikes.
World stocks slipped from 18-month peaks and the dollar pushed higher on Thursday as traders readied for what is expected to be the eighth straight rate hike from the European Central Bank (ECB) later. Europe's groggy start came after Wednesday's first pause in the U.S. Federal Reserve's rapid hiking cycle in over a year,,,
The Federal Government ran a deficit last month of $240B. Revenue continues to be at or below levels last year while expenses continue to grow.
Every month, we get government job reports that tell us the labor market is booming. Then we get an avalanche of mainstream headlines telling us that this is a sign the economy is just fine.But these government job numbers simply don't make sense.
As was widely expected, the Federal Reserve Open Market Committee (FOMC) put rate hikes on pause at the June meeting, although it indicated we should expect additional hikes before the end of the year.The question is how long will the pause last and will the next Fed move actually be a rate cut?
The annual In Gold We Trust Report has become the most keenly awaited publication in the gold world. It is fact-filled and covers every aspect of the market. In this issue, I edit the highlights. I also look at the melt-up in stocks, the gold regime, the Yuan and the Yen, and so much more.
Today’s Fed announcement and the Fed chief's speech will likely indicate the Fed’s take on inflation for the next few months… and then gold is likely to either dip to a buy zone or it will shoot out of the congestion zone.