Precious metals are apparently waking up. And here is where you can find the best deals.
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US futures dropped after yesterday's meltup, led lower by semiconductor stocks and traded in a tight range on Friday after a catastrophic earnings report and guidance from (former?) chip giant Intel, while investors awaited key inflation figures for clues on what the Fed will do next week. Nasdaq 100 futs were down 0.3% by 7:30 a.m. ET while S&P 500 futures dropped 0.2%.
The Fed has a targeted balance sheet reduction of $95B a month. The Fed has failed to meet its target in 7 of the last 8 months with only an $81B reduction in January.The Fed fell woefully short of meeting their $35B MBS target, seeing only $16.7B (less than 50% of the target). The Treasury target was met.
With a debt ceiling debate now underway, a dumb idea has once again raised its ugly head - the trillion-dollar coin. This week on the Friday Gold Wrap podcast, host Mike Maharrey uses this so-called "solution" to the debt ceiling problem as an opportunity to teach some economics. In this episode, he also touches on the GDP data that came out yesterday.
With the dollar losing clout and the world dividing into competing currency and economic blocs, American investor Ray Dalio said it will be countries less vulnerable to global conflict like those in Southeast Asia that prosper in coming years.
China’s central bank bought gold in November and December, its first purchases since 2019 to diversify its reserves. Hedge funds also boosted their net-long positions. Are gold prices set for records in 2023?
Gold – can’t eat it, can’t use it, but its everything crypto never was: tangible, exchangeable, a store of value, and a kitty for when things get tough. In uncertain markets…. Don’t forget the yellow stuff.
Doomsters have predicted the end of the LME before. Still, after 146 years and counting, the LME is still with us and the go-to nickel price point. However, volumes have tanked since the LME nickel debacle in March of 2022. In fact, the problems no longer relate just to nickel, but the entire non-ferrous metals spectrum.
After yield curve inversions, the Conference Board’s Leading Indicator Index is probably the best leading indictor of recessions. It has triggered before every recession since the 1970s with an average lead time of about 7 months. Via TheMacroCompass.com, the following chart highlights that the indicator is clearly signaling a recession later this year.
Jan 26, 2023 - 12:02:33 PST
Survey after survey has shown that a solid majority of the population is living paycheck to paycheck.
In 1950, there were more than 16 workers for every beneficiary. In 2035, that ratio will be only 2.3 workers per retiree.
A $2.1 million penalty for failing to file a form on time reveals the agency’s true nature.
"The fact that the amounts being borrowed at the discount window are rising in an oscillatory fashion with progressively higher 'highs' and higher 'lows' hints, while not conclusively, that the amounts being borrowed are increasing as the Fed increases rates." ~ Peter C. Earle
The latest jobs report in the United States shows strengths and weaknesses. Total nonfarm payroll employment increased by 223,000 in December, and the unemployment rate fell to 3.5 percent.
When competence, transparency and accountability are all punished, the Race to the Bottom accelerates.
There’s never a good time for the U.S. government to hit its debt issuance cap — and spark speculation of a possible imminent default if Congress refuses to raise it.
Dow, IBM and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority.
The BRICS would have to force the West they export to move onto gold too, and watch them suffer devaluation, deprivation, and desperation for once – how bullish for markets!; or...
The magazine cover indicator strikes again!
We have seen this movie before. The Fed tightens, things break, the Fed reacts by opening the monetary flood gates and the cycle begins all over again. Before things break you generally see signs that trouble is coming. We call this rivets popping.
New Home Sales Just Suffered Biggest Annual Drop Since Oct 2021, Median Price TumbledJan 26, 2023 - 08:42:20 PST
Following the continued decline in existing home sales, new home sales were expected to drop notably in December (after two months of surprising improvements). After rising 8.2% and 5.8% MoM respectively in the last two months (as mortgage rates dipped and homebuilder incentives soared), new home sales surprised once again - rising 2.3% MoM (dramaticaly better than the 4.4% decline expected). However, that surprise was due to a huge downward revision in November data from a 5.8% surge in new home sales to just 0.7%...