Precious metals news

This weekend, Todd Sachs interviewed Peter on the state of the economy. They discuss the parallels between now and the 2007-2008 housing crisis, the role of economic sentiment in voters’ opinions, and why foreign central banks are losing faith in the dollar.

Rampant government spending continues to mask fundamental weaknesses in the US economy. Recently, national debt grew much faster than the economy for the third quarter in a row, just one of many warning signs concerning legendary investors. Our guest commentator explains just how much the government is spending to make the economy seem strong, even as the US remains in the midst of a "private sector recession.

With the highest natural gas inventories in five years and the threat of the natural gas price heading to $1 or below, the shale gas companies started cutting production.  Investors also want to know what's happening with the major gold rally and whether it is sustainable...

The analysis below covers the Employment picture released on the first Friday of every month. While most of the attention goes to the headline number, it can be helpful to look at the details, revisions, and other reports to get a better gauge of what is really going on.

Central banks around the world are ramping up their gold reserves, a move aimed at reducing their reliance on the US dollar amidst growing concerns over America's continuing fiscal deficits and the threat of inflation. This trend occurs even as the dollar remains stable and real yields rise, with gold prices reaching their highest levels in five decades against most major currencies. Notably, this surge in gold's value is attributed primarily to the purchasing activities of central banks rather than to ETF investments or seasonal demand. Countries like China, Germany, and Turkey have significantly increased their gold holdings, reflecting a strategic shift towards protecting their reserve assets from the risks of dollar devaluation and instability within the global financial system.

Incremenum shares the company's monthly gold compass report.

China’s central bank added gold to its reserves for a sixteenth straight month in February as reserve diversification and geopolitical concerns push central banks to increase their allocation towards safe assets. We believe this is likely to continue this year...

ZeroHedge - In this week’s episode of Live from the Vault, Andrew Maguire brings an in-depth analysis of the recent price movements in both gold and silver, before diving deep into the increasingly depolarised silver market to expose its vulnerabilities. The London whistleblower takes listeners through the current bullish setup backed by a thorough analysis that highlights silver’s undervaluation and pervasive manipulation, before closing with an update on the BRICS currency.

The company Goldback is pioneering a novel approach to currency by introducing gold-made money intended for everyday transactions, such as grocery shopping or dining out. This innovative form of local, voluntary currency aims to integrate gold into daily commerce, enabling businesses that opt-in to accept gold as a valid form of payment. Each Goldback note represents 1/1000th of an ounce of gold, providing a tangible entry point into the precious metals market for those previously unfamiliar with gold investment. Although not recognized as official U.S. tender, in states like Nevada where gold payments are legally permissible, Goldback offers an intriguing alternative for both consumers and businesses keen on incorporating gold into their financial transactions.

Gold's price surged to a new record high, reaching up to $2,185.50 an ounce, driven by optimism following a pivotal US jobs report. This report has increased expectations that the Federal Reserve might soon lower interest rates, propelling gold's price upward for the eighth consecutive day. This rally, sparked by anticipated rate cuts, central bank acquisitions, and a resurgence in investor interest, has surprised many experienced market analysts due to its rapid and seemingly unprovoked nature, aside from the traditional factors that typically bolster gold's appeal.

In this riveting video, Mike Maloney delves into the exciting world of precious metals, particularly gold and silver.

February added 275,000 jobs in the U.S., surpassing economists' expectations set at 198,000. However, the unemployment rate ticked up to 3.9%, reflecting a complex labor market situation. Moreover, the excitement is tempered by revisions to the previous months' data, indicating that employment growth was not as strong as initially thought. This juxtaposition of strong job growth against a rising unemployment rate and adjusted past figures paints a nuanced picture of the current economic landscape, suggesting both resilience and underlying challenges in the labor market.

Gold surged to an all-time high this week, boosted by expectations for US rate cuts, geopolitical tensions, and China’s economic woes. How much further can it go?

JD and Joel discuss the new all-time highs in gold, Peter's recent podcast, the Fed's next move, and why silver has become an especially good deal.

This week, Peter reacts to politicians’ sophomoric views on inflation and explains the recent surge in the price of gold. He also comments on the first day of Jerome Powell’s congressional testimony. Be sure to watch Peter’s special extra episode from earlier this week if you missed it. 

With a stunning trillion dollars added to the national debt in only three months, projected to reach an incomprehensible $54 trillion within 10 years, and America’s interest payments on track to exceed defense spending next year, the question must be asked: How much longer can the debt bubble go?

Unfortunately, the market has based its foundation on the wrong type of collateral.  Of course, this works when global energy production increases but fails miserably when the opposite occurs.  It is important to understand the True Foundation of collateral and why one should invest in Gold and Silver...

Federal Reserve Chair Jerome Powell indicated that the Fed is nearing the point of being confident enough to begin reducing interest rates. Speaking to the Senate Banking Committee, Powell highlighted that the central bank's main condition for this shift is gaining assurance that inflation will stabilize around the 2% target. According to Powell, once the Fed attains this level of confidence, which he suggests is not far off, it will consider it appropriate to start easing the current restrictive monetary policy. This statement offers a glimpse into the Fed's strategic outlook on managing inflation and interest rates, suggesting a potential upcoming shift in policy to stimulate economic growth.

Big banks in the U.S. have successfully lobbied for a change to a contentious regulation that mandated them to maintain larger financial reserves as a safeguard against potential future losses. This week, Federal Reserve Chair Jay Powell and FDIC Chair Martin Gruenberg announced their expectation to amend this rule, following extensive pressure not just from the banking sector, but also from community groups, Republican and Democratic lawmakers alike. The move signifies a significant policy shift influenced by a broad coalition of stakeholders, highlighting the power of financial institutions in shaping regulatory frameworks.

Layoff announcements in February soared to their highest level for the month since the 2009 global financial crisis, as reported by Challenger, Gray & Christmas. The month witnessed 84,638 planned layoffs, marking a 3% increase from January and a 9% rise from February of the previous year. The technology and finance sectors were particularly hit hard. This spike in layoffs represents the most challenging February since 2009, during which 186,350 layoffs were announced as the financial crisis was nearing its end. Interestingly, the financial markets found their footing in March 2009, leading to the longest period of economic expansion, which lasted until the onset of the Covid pandemic in March 2020.