Precious metals news

Fund managers' allocation to stocks is at an 18-month low, and many believe the market has peaked or will peak this year.

"The ensuing debt bubble could very well bring on a crisis that will make 2008 look easy by comparison."

Since 2004 GOLD Has Only Gone Up +861% vs the Turkish currency!

Because nobody really cares about this problem until the checks don't cash.

The Hong Kong Monetary Authority increased its purchases of local dollars to $3.6 billion, helping push three-month interbank borrowing costs to the highest since Jan. 4.

"We believe defaults in 2018 could exceed last year's record level."

The ongoing trade spat between the world's two largest economies will restrain the roaring U.S. economy, dulling an expected boost to growth from massive tax cuts passed through Congress just a few months ago, a Reuters poll found.

"Another financial crisis is coming in the near future...this is a certainty."

The price of the No. 1 digital currency took a dive Tuesday, falling by more than $200 is less than 20 minutes, coinciding with the worlds biggest wallet unloading more than $50 million in bitcoin.

More than 1 million workers and retirees are covered by private pension plans that are projected to run out of money within the next 20 years.

Euro-area inflation accelerated less than initially estimated last month, a setback for European Central Bank policy makers as they consider winding down unprecedented stimulus.

In a Chinese stock market infatuated with round numbers, 3,000 has emerged as the latest fixation for investors trying to gauge the government’s commitment to ending a nearly $1 trillion selloff.

"We have updated our complex wave ^ii^ count on the Daily Gold Chart and now believe that all of wave $b$ could be complete at the 1369.40 high."

Erdogan of Turkey may be on to something, and for good measure. Here's the details...

Gold remained fairly firm and traded narrowly between $1346-$1346.75. It was $1347 bid at 4PM with a gain of $1.

In his latest podcast, Peter Schiff said we are basically enjoying the calm before the storm right now.
With the US missile strike in Syria, rumblings of a trade war and a generally weak dollar, gold briefly flirted with $1,365 last week. But the anticipation of Federal Reserve rate hikes continues to create strong headwinds against the yellow metal. Last week, the Fed released its March FOMC minutes and most analysts interpreted them as "hawkish." In fact, many people now think the Fed will nudge rates up again in June, leaving six months to get in the much-anticipated third hike of the year and possibly even get in a fourth.

Turkey went on a gold-buying spree in 2017 and that trend continued in the first two months of 2018.  Turkish President Recep Tayyip Erdoğan likes gold and it's pretty clear the president has been pushing Turkey's central bank to buy gold and reduce foreign currency reserves in an effort to move away from dependence on the dollar and euro.
On April 16, Erdoğan got a little more overt in his apparent quest to dethrone the dollar, suggesting international loans should be made in gold instead of greenbacks in order to prevent exchange rate pressure on economies.

"We see a massive base building in gold. Massive."

The Central Bank of Russia has sold $3.1 billion in US Treasury bills as of February, reducing its investment in American debt to the lowest level since March last year.

"Oil is an industrial commodity and the global economy is weakening."