Precious metals are apparently waking up. And here is where you can find the best deals.
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Cheaper house prices, a favourable exchange rate, cost-friendlier engineers and Government research and tax credits have all been attributed to a boom in Transatlantic moves.
Median Sale Price in San Francisco Drops a Staggering $220,000 From a Year AgoMay 30, 2023 - 07:42:34 PDT
The concerning data was laid bare last week by Redfin, and marks a significant shift in the American real estate landscape following a historic surge seen during the Covid-19 pandemic.
The 20-City Composite dropped 1.15% MoM (slightly better than the 1.6% drop expected) on a non-seasonally-adjusted basis but rose 0.45% MoM on a seasonally-adjusted basis.
Conference Board Confidence Drops To Worst Since 2022, Labor Market Showing CracksMay 30, 2023 - 07:38:30 PDT
After declining in April, the Conference Board's consumer sentiment index was expected to accelerate its drop (after peaking in Dec 2022 for this mini-cycle). The picture is murkey however as the headline print beat expectations (102.3 vs 99.0 exp) but that is down from April's final print of 103.7 (revised up from 101.3). Under the hood, both current and future expectations indices declined (from revised higher prints)...
May 30, 2023 - 06:35:33 PDT
Nearly a quarter of central banks are looking to increase gold reserves this year, spurred on by geopolitical worries, interest rate concerns and rising inflation pressures. Up to 24% of central banks were looking to raise gold holdings in 2023, according to a new survey from the World Gold Council.
Gold prices bounced back from their lowest level in more than two months on Tuesday as the dollar backtracked from highs, while lingering concerns over U.S. debt ceiling negotiations has kept investors on edge and rekindled demand for safe-haven bullion.
A typical American household now carries $10,000 in credit card debt, by one estimate, another record. If that doesn’t sound like a lot of debt, try paying it off. At $250 per month, with 24 percent interest, you’ll be making payments until 2030, and you’ll spend a total of $20,318, twice what you owed. And that assumes you never use the card again.
Republicans Speak Out Against Us Debt-Ceiling Deal, in Sign of Rocky Road AheadMay 30, 2023 - 05:54:16 PDT
A handful of hard-right Republican lawmakers said on Monday they would oppose a deal to raise the United States' $31.4 trillion debt ceiling, in a sign that the bipartisan agreement could face a rocky path through Congress before the U.S. runs out of money next week.
Having navigated the financial crisis of 2008, Neel Kashkari worries about systemic risks. But now, as a U.S. monetary policymaker, he worries even more about inflation.
Ballooning debt, tepid consumption and worsening relations with the West are set to weigh on future growth, economists say.
Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank will patiently maintain its ultra-loose monetary as there is some distance to sustainably achieve its 2% inflation target, downplaying expectations for a policy change in the near-term.
More than 80 per cent of US retailers had an increase in losses last year, according to Jack L Hayes International, a “loss prevention” consultancy. Respondents to its survey apprehended 46 per cent more shoplifters and dishonest employees, retrieving 70 per cent more in stolen goods, but for every dollar they recovered they reported losing more than eight dollars to theft.
More Americans are raiding their retirement accounts as the cost of living climbs, and experts predict that the number of workers drawing on their 401(k)s to pay for financial emergencies may increase due to a confluence of factors, like new provisions that make withdrawals easier and high inflation that is straining household budgets.
There is perhaps no political variable more important throughout history than the price of food. No government, whether democratic or dictatorial, will be seen as legitimate by people who cannot afford to feed their families. So it is bad news that just as the price of energy is coming down from its extreme peaks last year, and households are beginning to feel that particular pinch loosen, food price inflation in much of the world remains stubbornly high.
Major Central Banks Were Expected to Pause Rate Hikes Soon. Now It’s Not So Clear CutMay 30, 2023 - 05:31:44 PDT
Stronger-than-expected U.S. jobs figures and GDP data have highlighted a key risk to the Federal Reserve potentially taking its foot off the monetary brake.
Debt Ceiling Deal Keeps Non-defense Spending Roughly Flat Until Fiscal 2024May 30, 2023 - 05:29:46 PDT
A deal reached to raise the U.S. federal government's $31.4 trillion debt ceiling keeps non-defense spending roughly flat for current fiscal year and 2024, a source familiar with the negotiations said on Saturday,
Soon-to-mature Treasury bills rallied as trading resumed after the Memorial Day holiday, following a tentative deal over the debt ceiling which eased concerns of a US default.
Total Farce: Real Spending Under Debt Ceiling Deal Actually Goes Up Next YearMay 30, 2023 - 05:15:29 PDT
That's right: that 0.2% cut in spending is what all the brewhaha was over, a cut which will not only push total debt to $35 trillion by the end of Biden's term, but will not even put a dent in the long-term US debt trajectory which even the CBO has no problem as showing in its full, hyperinflationary glory.
Global Markets-Dollar, European Stocks Fall With U.S. Debt Deal Congress Vote in FocusMay 30, 2023 - 05:13:54 PDT
European stocks and the U.S. dollar fell, after climbing to a two-month high, on Tuesday as relief that the U.S. government had averted a possible default gave way to concern that the deal could face a rocky path through Congress. But the dollar and European stocks slipped, dented by uncertainty about whether Congress will approve the deal after a handful of hard-right Republican...
The Indian central bank has announced another round of demonetization with a plan to withdraw 2,000-rupee notes from circulation. The announcement led to a big jump in gold bullion sales.The 2,000-rupee note will remain legal tender, but they will have to be deposited or exchanged for smaller denominations by Sept. 30.