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Today’s gold and silver market news, curated from the best of GoldSilver's team and around the web. Everything precious metals investors need to know including updates on big price swings, macro analysis, and breaking stories. Check back often or subscribe to get the highlights in your inbox. Monitor live spot prices on our charts page.
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TOP NEWSWhy On Earth Would I Sell My Gold & Silver For Dollars?
Today Jeff Clark asks Mike Maloney one of the most common questions we receive here at GoldSilver.com - "Why on Earth would I sell my gold and silver for fiat currency?"
Did You Miss Mike's Keynote? See the Replay With Grant Williams, Jeff Clark, and More
This past weekend, over a thousand investors and like-minded folks tuned in to see Mike Maloney, Jeff Clark, and an all-star line-up of speakers during the Peak Prosperity virtual seminar. If you didn’t get a chance to see it, we've provided the highlights and access to the replay.
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Is Silver the Next Bitcoin?
Yes, they are likely to be volatile. But they also both have wild secular bull markets ahead of them. And that's way more important than any differences.
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Corrupt Bankers Caught And Fined Again, Ho Hum!: Miller on the Money
This headline, "Now that Indictments Have Outed Gold Manipulations at JPMorgan, UBS says "Buy Gold"" grabbed my attention...
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World Gold Reserves by Country: Central Bank Statistics
Gold reserves by country data compiled from IMF IFS statistics. Explore reported central bank purchases and sales and total world gold reserves.
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The Dow Has Lost 1,815 Points in the Past Three Trading Sessions: The Wall of Worry It Was Climbing
Market sentiment has turned bearish in no small part because of the unrelenting pandemic, the lack of a new stimulus bill from Congress, and the selloff in oil. All three are interrelated.
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Brace for a ‘Fairly Scary Time’ on Wall Street, Wells Fargo Warns
Wells Fargo Securities’ Michael Schumacher sees major headwinds over the next week to ten days.
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Earnings for Apartment Owners Show the Pain of Urban Flight
Decidedly weak quarterly earnings reports from major apartment REITs this week paint a bleak picture for some of the largest urban rental markets.
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Sam Zell’s Equity Residential Sees Profits Drop 58 Percent
Equity Residential, the REIT owned by Sam Zell, was hit with a 58% decline in net income in Q3 2020.
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UK Facing ‘Flood’ of Bankruptcies Over Coming Months, Says Ons
Almost two-thirds of all businesses could be at risk of insolvency, according to official figures that reveal the UK could suffer “a flood” of bankruptcies over the coming months.
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Second Food Stockpiling Wave Is Here, With 3,400% Pantry Surge
American consumers who’ve worked their way through the trove of shelf-stable meals they frantically bought back in March are at it again. This time, food makers are prepared.
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Federal Reserve Is in a Tough Spot Without Fiscal Stimulus: Economist Swonk
The third quarter GDP will roar back, but the continued rise in coronavirus cases will cut those gains. Diane Swonk, chief economist at Grant Thorton, and CNBC's Steve Liesman join 'The Exchange' to talk about the economic recovery.
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Record Breaking GDP Leaves U.S. Economy in the Same Place as the Height of the Great Recession
But as Gregory Daco, the chief U.S. economist at Oxford Economics, put it in a tweet, that growth is both "record-breaking and meaningless at the same time."
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GDP Surges a Record 33% But No V Shaped Recovery Coming
The above chart from the BEA makes it appear as if the economy has fully recovered. It hasn't. The economy is about a trillion dollars short of the peak as my lead chart shows.
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Flying Blind: Clueless about Risk, We're Speeding Toward Systemic Failure
For all the reasons listed in this post, the risks of systemic collapse are much higher than commonly anticipated.
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Social Security Seemed Like a Future Problem. The Virus Changed That: NYT
Even before the pandemic, Social Security’s finances were under growing pressure. The next president and Congress will play a crucial role in what happens next.
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Selling Pressure in U.S. Stocks Is More Extreme, More Often
The ferocity of the U.S. stock rout on Wednesday sent a measure of selling pressure to near the most extreme on record -- an occurrence that’s become increasingly frequent in the past two months.
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Inflation Is Coming Fast and Furious: Peter Bookvar
“It's the best message from the market because of its distance from Fed manipulation,” he explains, noting that the 30-year inflation breakeven is now reaching its highest level since May 2019— which means that inflation is quickly approaching.
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Stock Selloff Is Just Beginning, Sri Kumar Warns
Komal Sri-Kumar, president and founder of Sri-Kumar Global Strategies, says the Covid-19 pandemic, the lack of another federal stimulus package and the U.S. presidential election are creating a trifecta of negative forces for markets.
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The Record Economic Boom Is a Mirage
Any economy growing at a 33% rate can comfortably claim it’s soaring through the jet stream. When it’s the U.S. economy, a $20 trillion juggernaut that is the world’s largest, that figure is jaw-dropping. Yet this morning, the Bureau of Economic Analysis reported just that, announcing that the U.S. economy’s third-quarter growth rate was the most explosive since at least World War II.
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Druckenmiller: Stock Market Is a ‘Absolute Raging Mania’ Warns Fed Raised Inflation & Deflation Risk
The famed former hedge-fund manager, who with George Soros famously broke the Bank of England by shorting the pound in 1992, told CNBC in an interview on Wednesday that the Federal Reserve has inspired a “big party” in financial markets that has powered the stratospheric climb for stocks which he says eventually leads to a “hangover.”
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