Precious metals are apparently waking up. And here is where you can find the best deals.
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Will inflation go back to normal anytime soon? Bank of America doesn’t believe so. “Historically, it takes an average of 10 years for a developed economy to return to 2% inflation [once] the 5% threshold is breached,” the bank says in a recent note.
Physical metal has continued to drain from COMEX vaults. This is particularly true for silver, which now has 17.4 paper ounces for every registered ounce.This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.
Although gold has been one of the best-performing assets in 2022, it has faced significant headwinds due to rising interest rates and a strong dollar. Members of a panel discussion during the London Bullion Market Association's (LBMA) annual precious metals conference agreed that gold and silver prices may still face headwinds in the near term as investors continue to anticipate an aggressive Federal Reserve fight against inflation. But they were bullish on the long-term potential of the precious metals market.
BREAKING NEWS: U.S. Energy Agency Hiding Shale Oil Declines While Reporting Supply GrowthOctober 18, 2022
Something just isn't right at the U.S. Energy Agency as they are seemingly hiding shale oil production declines while reporting optimistic supply growth. This will come back to bite not only the U.S. EIA - Energy Information Agency, but also Americans when they realize the Shale Oil Boom is turning into a Bust...
The World Gold Council has a plan to make trading more liquid, starting with the $500 billion in gold bars beneath London. Critics say it’ll meet stiff resistance.
The spread between gold prices in London and Shanghai has increased significantly during the month. United States Gold News
Oct 17, 2022 - 12:59:52 PDT
The surge in gold imports is being spurred by the rise in demand for the precious metal by individuals using it in forex transactions.
Roubini Warns the Next Decade Could Bring ‘Massive Insolvencies and Cascading Financial Crises’Oct 17, 2022 - 12:52:18 PDT
The economist warned in 2006 that the U.S. housing bust would cause a financial crisis. Now he has a new economic doomsday prediction. And it isn't pretty.
Value is not measured by how far prices have declined, but by the relationship between prices and properly discounted cash flows. When the cash flows are very long-term in nature, and the deviation from median historical valuations is extreme, simply attaining those run-of-the-mill valuation norms can imply seemingly preposterous losses.
Steep mortgages are “pushing homebuyer sentiment down near its all-time low,” an economist said.
After a week hosting the International Monetary Fund’s annual gathering of economic leaders, Managing Director Kristalina Georgieva summed it up for the 190 member countries: “Buckle up, and keep going.”As the talks ended in Washington on Saturday, finance ministers and central bankers seeking to sustain the world economy’s shaky recovery from the pandemic worried...
The tightest labor market in decades is fueling rapid wage growth for millions of Americans, but painfully high inflation has quickly eroded those gains.
Millions Could Still Be Eligible for a Stimulus Check – And Time Is Running Out To Claim ItOct 17, 2022 - 12:13:05 PDT
Millions of Americans are still eligible to receive a COVID-19 stimulus payment, with some households in store for a possibly massive payment.
"Canary In The Gold Mine": Asset Seizures Could Skyrocket Due To Post-Pandemic Debt Default, Says BailiffOct 17, 2022 - 12:09:02 PDT
Its impact on consumer credit is not just visible in day-to-day credit card spending, but also in other non-mortgage debt like auto loans and lines of credit where balances are on the rise. … Early indications in our data suggest financial stress is starting to emerge; Canadians should continue to be mindful of their spending and debt obligations.”
Research reveals that European central banks have prepared a new international gold standard. Since the 1970s, policies that paved the way for an equitable and durable monetary system have gradually been implemented.
Former Federal Reserve Chairman Ben Bernanke is a 2022 recipient of the Nobel Prize in economics for his writings on how government should respond to bank failures. Honoring Bernanke for his advice on what government should do when banks fail is like giving a fire safety award to an arsonist.
Oct 17, 2022 - 11:46:51 PDT
Being a doom-and-gloom Bear stops being fun when the Bear Bar gets crowded. When everyone has moved to our side of the boat, the grizzled Bears get nervous, especially when they peer over at the Bull side of the boat and see a handful of dispirited Bulls ignoring the guy yelling at the bartender to "back up the truck."
The Wolf Street Report: Return of the Bond Vigilantes Sends Shockwaves Around the GlobeOct 17, 2022 - 10:56:20 PDT
Deficits don’t matter – until the bond vigilantes ride into town (you can also download the WOLF STREET REPORT wherever you get your podcasts).
Oct 17, 2022 - 10:48:29 PDT
UK Chancellor of the Exchequer (Treasury Chief) Jeremy Hunt reversed 'almost all' the administration's announced tax cuts. The pound rose, dollar fell, and stocks rallied globally in response.