Precious metals news

Oil prices rose on Monday, following their best week since April, as traders analyzed mixed economic data from China. U.S. crude and Brent oil closed last week nearly 4% higher, with analysts predicting a tightening market in the third quarter due to increased summer fuel demand. RBC's Helima Croft expects oil inventories to fall by 850,000 barrels per day. Current energy prices show gains for West Texas Intermediate, Brent, and RBOB gasoline, while natural gas saw a slight decline.

The latest inflation data, showing lower-than-expected consumer and wholesale prices, is fueling the ongoing stock market rally. Julian Emanuel of Evercore ISI raised his year-end S&P 500 target to 6,000, citing the positive inflation trend and early AI market opportunities. Similarly, UBS's Jonathan Golub sees potential for further gains, given the implications for future interest rate cuts. Both strategists highlight inflation's pivotal role in the current bull market.

Gold ended a three-week losing streak with a rally on Friday, despite the strong US dollar and political unrest in Europe, which bolstered its appeal as a safe-haven asset. Technical analysis suggests that gold is in a consolidation phase, with strong support at $2300. The Bank of Japan's bond purchase policy and potential future interest rate cuts by the US Federal Reserve could further boost gold prices. Despite a slight pullback at the start of this week, gold remains a preferred hedge against inflation.

The Supreme Court is currently reviewing a case that could impact your individual liberty. And you probably haven’t heard about it.
The case began in November 2022, when Loper Bright Enterprises, a fishery based out of Cape May, New Jersey, appealed a district court opinion to the Supreme Court. The conflict between Loper Bright and the National Marine Fisheries Service (NMFS) started after the agency decided to require private fisheries like Loper Bright to pay their regulatory inspectors for their time observing fishery practices.

The Federal Reserve may manipulate its inflation targets and implement rate cuts irrespective of actual economic conditions, bending to political will. By creatively interpreting the two-percent inflation target as a flexible average, the Fed can cloak its true agenda: artificially suppressing interest rates to finance burgeoning federal deficits.

The Biden Administration’s Consumer Financial Protection Bureau (CFPB) just issued a proposal to ban medical debt from factoring into your credit score. But for free-money socialists and their Keynesian bedfellows, this doesn’t go nearly far enough: short of canceling medical debt entirely, nothing else is acceptable.

Why did Donald Trump totally reverse his stance on Bitcoin as a "Scam" and now totally support the Bitcoin Mining Industry?  Well, it seems to come down to Big Money and much-needed votes.  Also, are we seeing another Bullish Setup in the silver price...

While the efficiency of the free market is very often accepted in the realm of industry, the environment is often used as an example of the government's necessary role in the economy. Public goods are used as an example of the problems with market allocation. Short-sighted business owners are apparently unable to see or account for the full effects of their actions, and they end up damaging the environment irreparably. Much more often, government programs are both improperly motivated and ineffective at preventing pollution. However, strong and transparent private property rights may be the most effective safeguard of the environment. 

Investing in anti-fragile assets like gold and Bitcoin is becoming increasingly attractive as we face an era of rising inflation, economic volatility, and geopolitical unrest. Despite political uncertainties and potential tax increases in the UK, particularly affecting pensions and capital gains, gold and Bitcoin offer resilience. Experts from Ruffer and ByteTree highlight that after decades of stability, the coming years will demand investments that can withstand economic and political turmoil.

U.S. Treasury yields fell on Friday, reflecting easing inflation indicated by recent data. The 10-year Treasury yield dropped to around 4.225%, while the 2-year yield was slightly higher at 4.694%. This decline follows lower-than-expected producer price index (PPI) data, which showed a 0.2% decrease in May, and other indicators like high jobless claims and flat consumer prices. Investors are increasingly confident about potential interest rate cuts by the Federal Reserve, further boosting Treasury prices.

Federal Reserve Bank of Cleveland President Loretta Mester finds the recent softer inflation data encouraging but wants to see a few more months of similar data before considering interest rate cuts. Mester emphasizes the need to observe declining inflation and short-run inflation expectations alongside labor market conditions before deciding on rate reductions. The Fed has projected only one rate cut this year, maintaining the current rate range of 5.25% to 5.5%. Mester is set to retire at the end of the month and will be succeeded by Beth Hammack from Goldman Sachs.

Thailand's Government Pension Fund (GPF) anticipates gains from gold, commodities, and private equity to offset weak domestic stocks, expecting a portfolio return of over 3% in 2024, up from 1.5% in 2023. The fund has increased its holdings in these assets to hedge against inflation and geopolitical instability, while also expanding investments in overseas bonds, stocks, and property to improve performance amid low local returns.

Gold prices remained stable in Asian trade on Friday, as a stronger dollar, driven by the prospect of fewer U.S. interest rate cuts, countered optimism from easing inflation. Spot gold and gold futures each saw a slight rise of 0.1%, but the yellow metal is still recovering from recent declines due to high interest rates. The Federal Reserve's projection of only one rate cut in 2024, versus the previously anticipated three, has pressured gold and other metal prices, which were trading within narrow ranges.

China is expected to respond cautiously to the EU's new tariffs on Chinese electric cars, wary of provoking a trade war. The EU's move to impose tariffs of up to 48% on Chinese vehicles aligns with similar actions by the US and other countries. Beijing aims to avoid aggressive retaliation that could unify Western nations against it and hinder President Xi Jinping's efforts to promote strategic autonomy in Europe. Analysts predict China will target specific agricultural products in its retaliation, such as cheese and pork, to avoid broader economic conflict.

Oil prices are set for their strongest weekly gain in months, driven by rising demand for key fuels like gasoline and diesel. Brent crude futures have increased by 0.5% in London, with a weekly gain of 4.4%. Despite a robust fuel market, the overall crude outlook is clouded by reduced consumption growth forecasts from the International Energy Agency and concerns over China's economic slowdown and potential oversupply from the US and Americas.

This week flashed early warning signs of a recession as gold and silver prices rose yet again. Despite an inflationary environment, non-essential goods are getting price cuts as the Fed reassures the public that rates won't go higher.

It seems that everyone believes the Fed QT Monetary Tightening is reducing the money supply, but I believe there is more going on behind the scenes.  Also, why haven't any economists or MSM reported on the massive decline in the value of the U.S. Treasury Market...

The Federal Government publishes the spending and revenue numbers on a monthly basis. The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going, and the surplus or deficit.

Join Mike Maloney and Chris Martenson in this eye-opening interview as they delve into the crucial importance of tangible assets...

Inflation breeds desperation, and desperation breeds crime.
As central banks in Europe and Canada cut interest rates, and expectations remain that the Fed will wait to cut until at least September if it cuts this year at all, our endlessly-wise global central bankers, the benevolent all-knowing stewards of the global economy, can’t seem to agree on what steps are needed to cool inflation back down to reasonable levels.