Precious metals news

The 10-year yield ticked up to 2.977%, but the DX slipped back to 95.17. Gold was $1210 bid at 4PM with a gain of $2.

The most plausible explanation for the recent tick-for-tick correlation between the Chinese yuan and the gold price. China is no longer valuing gold in US dollars, but in the yuan, and bidding accordingly. Both in size and at ever-declining prices as its currency falls.

Chinese state media indicated that Apple should share its profits with the Chinese people, who disproportionately contribute to the $1T-market-cap tech company, and warn that anti-US economic sentiment in the country could be brought to bear upon it.

Yesterday TraderStef reached out to us on Silver Doctors twitter (we've yet to be shadow banned). She shared with us one of her latest post regarding the myth of QT vs […]

Has the market finally found what it deems to be a risk too great to take? On the one hand, Goldman is calling for the total demise of the entire Turkish financial system. But on the other...20%!

A disturbing trend sees bankruptcy rates directly correlated with aging just as America's population beings a demographic shift that will leave it significantly older, on average, than it has ever been.

"In 2015, the top 1% of Americans made 26.3 times as much income as the bottom 99 percent. The top 1% of Americans took home more than 22% of all income. That’s the highest share since a peak of 23.9% just before the Great Depression in 1928."

The schoolyard namecalling between the two largest economic powers in the world continues as they prioritize posturing over progress. The no-winners, all-losers trade-becoming-currency war chugs along, doing pointless economic damage to both sides.

As the amounts of unrepayable debt in the eurozone mount, explanations for how that's somehow not a problem get more farcical. The un-aptly named 'Eurointelligence' says it doesn't matter because the debt is "virtual." Much as the US's $20T in debt isn't actually printed in paper currency held by foreign states. So it must not matter either.

With a fresh round of sanctions against Iraq, the ball is now squarely in the Chinese, Russian, Indian, Turkish and much of Europe's court. And in Iran, where inflation is ramping out of control and there is already significant civil unrest due to economic conditions, external pressure with an eye toward regime change is ratcheting up.

As we approach the 10-year anniversary of the 2008 financial crisis, some things don't seem a whole lot different. Everybody is optimistic, and as Peter Schiff noted in his most recent podcast, ignoring all of the warning signs.
We're seeing a lot of warning signs people should be worried about, but again they're dismissing them, much the way they did 10 years ago You know, we're getting close to the 10-year anniversary of the 2008 financial crisis. Remember, the whole thing started in August of 2008. Here we are August 2018, 10 years later. I think we're heading for an even bigger crisis and the same people are even more clueless."

With the price of gold dropping over the last few months, there's a lot of bearishness out there in the marketplace. But there is some bullishness on gold, even in the mainstream.
A strategist with ICBC Standard Bank said he sees gold climbing back to $1,300 by the end of the year. According to a report published by Bloomberg, Marcus Garvey said bullion may average $1,260 in Q3 and rebound further toward the end of the year as physical demand emerges. And while he does expect the Federal Reserve to move forward with two more rate hikes this year, he said the market has already taken this into account. 

Join GoldSilver's Jeff Clark as he explores economist Steve Keen's harrowing look into Zombie Nations (and those who are starting to undergo their own metamorphosis into the terminal-debt dead) in his book "Can We Avoid Another Financial Crisis?" Spoiler alert: No.

In this masterful overview and deep dive into the Great Recession, an exploration of the economic shockwaves that reverberated through the entire country, and the rubble many are still sifting through.

The best way to ensure no lessons are learned from an avoidable crisis is to shield those who caused it from any meaningful consequences for their actions.

Iran's gold demand is reported at 4 year highs ahead of feared US sanctions as Iranians are increasingly swapping their Iran real currency for physical precious metals. Interestingly last month, […]

In case you did not hear enough from Craig Hemke in last week's Metals & Markets update about the potential China Yuan Gold peg, here he is again speaking with […]

"Amid the corruption and mismanagement, the only thing helping the country pay its bills right now is gold. Two years ago, it had the world’s 16th largest gold reserves. Today it stands at number 26 as it’s sold off more than half its holdings since 2010."

All the world 'round, through thousands of years, the story has been and remains the same: In times of financial crisis and currency inflation, gold is the failsafe fallback that never, ever loses its store of value.

"Facebook has asked large U.S. banks to share detailed financial information about customers, including card transactions and checking account balances, as it seeks to boost user engagement."