NEWS
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 NEWS1929 Vs Now: Are We Headed For The Greatest Depression? with Mike Maloney
“What’s coming will be the weirdest, most twisted thing you’ve ever seen, something that will be very hard to predict—so the more educated you are on history the better chance you’ll have at surviving it.”This sobering quote from Mike Maloney highlights why he devotes his new video to the Great Depression… because it can offer valuable insights into what could be ahead for us today.
Gold and Silver Correction Ahead?
Is a pullback due for gold and silver? They’ve admittedly had a nice run—as of May 22 gold was up 17.5% from its March low and silver 41.5%—so it wouldn’t be too surprising to see them cool off.Add to that the seasonally weak summer months are right around the corner and a decline certainly seems possible.Will seasonal patterns play out this year? If so we just might see a buying opportunity, which could be especially important for those that don’t have as much bullion as they want or missed out on earlier opportunities…
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U.S. Economic Depression, Precious Metals Bull Market
With the U.S. heading into an economic depression, it will likely motivate more investors to protect their wealth in precious metals. Thus, we could experience a U.S. economic depression and, at the same time, a bull market in gold and silver.
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Silver Scores Biggest Monthly Gain in 9 Years on U.S./China Tensions
Silver futures on Friday post a gain of nearly 24% for the month, the largest since 2011, with the industrial metal finding support as global economies...
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First the Deflationary Deluge of Assets Crashing, Then the Tsunami of Inflation
Once the pool of greater fools dries up, stocks crash regardless of what the Fed does or bleats.
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Powell Says Fed Policies ‘Absolutely’ Don’t Add to Inequality
Fed Powell cast the central bank’s actions during the coronavirus crisis as aimed squarely at helping U.S. workers, a tactic to head off criticism which has dogged it since the last recession: that its policies primarily serve Wall Street and wealthier Americans.
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Next Coronavirus Stimulus Bill Will Be the ‘Final’ One, Mitch McConnell Says
As McConnell pledges caution, Chuck Schumer and Nancy Pelosi are pushing him to quickly approve more coronavirus relief measures.
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Fed Reveals Which ETFs It Has Bought So Far
Fed's purchases were left by the iShares investment grade ETF LQD (at $326MM), followed by two Vanguard corporate bond ETFs, the VCIT ($228MM) and VCSH ($226MM), with the junk bond ETFs, HYG and JNK in 4th and 5th place owning $89.5MM and $88.3MM, respectively.
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Watch Live: Trump Press Conference on China/U.S. as Tensions Escalate: 2:PM ET
President Donald Trump is scheduled to speak about China on Friday from the White House Rose Garden as tensions with the country continue to escalate.
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Powell Says Federal Reserve Crossed Red Lines to Help Economy: NYT
Fed Chair Jerome H. Powell said that the central bank is pushing its limits and trying to be transparent as it does.
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Trump Weighs Sanctions on China Finance Sector Over Hong Kong: Bloomberg
President Donald Trump has discussed targeting China’s financial sector through sanctions and trade policy in retaliation for Beijing’s moves to curb Hong Kong’s autonomy, according to people familiar with the matter.
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Japan’s Long Deflation Battle Is Warning for Post Virus World
The Covid-19 shock could spur an acceleration in global inflation driven by massive monetary and fiscal stimulus or a spell of deflation as demand craters. Japan’s experience suggests the latter is the bigger risk.Years of anemic prices after the bursting of an asset bubble in Japan at
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-51.2%! Atlanta Fed Now Expects Staggering Collapse In Q1 GDP
"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -51.2 percent on May 29, down from -40.4 percent on May 28."
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Private Wages Crash Most On Record As Savings Soar By $4 Trillion In 1 Month
How much of these "savings" were immediately invested in the stock market.
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Powell: Fed Is ‘Days Away’ From Making First Loans in the Main Street Lending Facility
The Main Street lending facility, which will target companies with up to 15,000 employees, has been difficult to set up but is just about ready, Powell told Princeton University economist and former Fed official Alan Blinder in a webinar interview Friday.
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Watch Fed Chairman Powell Speak Live on the Economy: 11 am ET.
Federal Reserve Chairman Jerome Powell is speaking Friday with Princeton University economist Alan Blinder. The event is being presented by the Griswold Center for Economic Policy Studies at Princeton.
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Virus Sparks Round the Clock Rush to Fill U.S. Gold Vaults
The scramble to jump on one of the hottest gold trades in years -- by shipping bullion to New York -- has sparked what may be one of the largest ever physical transfers of the metal.“The flows into New York are unprecedented,” said Allan Finn, global commodities director at logistics...
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Why the Fed May Not Duck Inflation This Time: WSJ
...with capital-depleted companies desperate for credit, banks will have both the capacity and the incentive to expand loans, ballooning the money supply and creating inflationary pressures.
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Here’s What the Fed Will Do Next, According to a Goldman Sachs Economist
First he expects the Fed to establish a more consistent quantitative easing program, as the current purchases are done on an ad hoc basis. Mericle says the Fed will settle on a pace of roughly $80 billion to $120 billion in U.S. Treasury securities a month, and $25 billion to $35 billion of mortgage-backed securities.
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ECB About to Turn Up Printing Press to Finance Europe’s Recovery: Bloomberg
The European Central Bank will step up emergency asset purchases next week to haul the economy out of its much deeper than originally anticipated slump, according to a Bloomberg survey of economists.
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