Gold and Silver Industry & Investing 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 NEWS"I Have Great Hope For the SECOND Half of this Administration" - Mike Maloney
Mike Maloney shares his optimism for the second half of this administration, thanks to the creation of the Department of Government Efficiency (DOGE).
Gold's November Pullback: Opportunity Knocks
Gold retreats from record highs but fundamentals remain strong. Expert analysis of market dynamics and institutional forecasts...
READ MOREFinancial Reckoning: Bill Hwang's Archegos Fraud Comes Full Circle
Archegos Capital Management's Bill Hwang awaits sentencing for orchestrating a massive fraud scheme that resulted in billions of dollars in losses for Wall Street banks. Convicted on 10 charges, including fraud and market manipulation, Hwang faces up to 21 years in prison as recommended by prosecutors. The case highlights the risks of excessive leverage and the need for greater oversight of opaque investment vehicles.
READ MORECrypto Giant MicroStrategy Pushes Bitcoin to All-Time High
Bitcoin has surged to unprecedented levels following MicroStrategy's massive $4.6 billion purchase, pushing its total holdings beyond $30 billion. The company intends to raise $2.6 billion more for additional Bitcoin investments. The cryptocurrency hit $94,668, benefiting from post-election optimism and increased interest in Bitcoin ETF options, indicating market expectations of continued growth.
READ MORENew Treasury Shortlist Grows: Warsh and Rowan Join the Race
President-elect Trump intensifies his search for a Treasury secretary, scheduling interviews with Kevin Warsh and Marc Rowan. The expanded candidate pool, which includes Scott Bessent, aims to break the deadlock in selecting the nation's top economic policymaker. Senator Bill Hagerty, another potential cabinet contender, joined Trump for a SpaceX launch, highlighting the ongoing deliberations for key positions.
READ MOREEconomists Predict Fed Rate Cut, but Inflation Risks May Slow 2025 Reductions
Economists predict a Federal Reserve rate cut in December, followed by a slower pace of reductions in 2025 than previously expected1. This shift is attributed to potential inflationary pressures from President-elect Trump's proposed policies, including tariffs and tax cuts. Despite strong economic indicators and stubborn inflation, most economists still anticipate a 25 basis point cut next month, though market expectations have become less certain.
READ MORENew Research Highlights Silver's Strategic Role in Diversification
A new report commissioned by the Silver Institute suggests that institutional investors should allocate 4-6% of their portfolios to silver for optimal diversification and risk reduction. The study, conducted by Oxford Economics, highlights silver's low correlation with other asset classes and its potential for strong returns, especially given its growing industrial applications in green technologies.
READ MORESwiss Gold Industry Wrestles with Transparency Demands
Switzerland, a global hub for gold refining, is grappling with calls for greater transparency in its gold trade. Despite a court setback, industry groups are pushing for more rigorous due diligence and disclosure of supplier information. The move aims to address concerns about human rights violations and environmental damage in gold mining while maintaining Switzerland's competitive edge in the sector.
READ MOREHigh Yields Attract Buyers as Treasury Yields Hit Multi-Month Highs
The 30-year US Treasury yield reached its highest level since May, attracting buyers and supporting bond prices. Investors are reassessing economic expectations and Fed policy in light of Donald Trump's election victory. The high yields are providing a cushion for investors, while new corporate bond sales and uncertainty over Trump's Treasury secretary pick are influencing market dynamics.
READ MORESTATE STREET: 2024 Gold ETF Impact Study
State Street's 2024 Gold ETF Impact Study reveals a surge in gold investment, driven by economic uncertainty. Gold ETFs emerge as a preferred investment vehicle, with a majority of investors using gold for diversification and long-term gains. The study emphasizes the potential for growth in gold ETF adoption, particularly among younger investors.
READ MOREFed Chair Powell: No Rush to Factor in Trump's Economic Plans
Federal Reserve officials are taking a cautious approach to Donald Trump's potential policies, unlike in 2016 when they quickly adjusted forecasts based on expected fiscal changes. Chair Jerome Powell emphasizes waiting for concrete policy proposals before making economic projections, contrasting with the Fed's previous rapid response to Trump's election.
READ MORECleveland Fed Predicts Rent Inflation Will Persist Until 2026
According to a model from the Cleveland Federal Reserve, rent inflation will likely remain high until at least mid-2026. Despite some indicators suggesting new rents are decreasing, the overall consumer price index (CPI) for rent is expected to stay elevated due to reduced turnover in leases. This situation complicates the Federal Reserve's efforts to communicate about inflation and may hinder their ability to cut interest rates, as rising shelter costs significantly impact inflation metrics.
READ MOREBanking Giant HSBC Initiates Major Restructuring, Senior Jobs at Stake
HSBC is undergoing a major restructuring, with hundreds of managers competing to keep their jobs in the newly formed corporate and institutional banking division. The process involves interviews pitting senior staff from different units against each other, likely resulting in several hundred job cuts in the coming weeks.
READ MOREEscalation in Ukraine Conflict: US Approves Cross-Border Missile Strikes
President Joe Biden has approved Ukraine's use of US-made long-range missiles for limited strikes within Russian territory, marking a significant policy shift. This decision comes in response to the deployment of North Korean troops supporting Russia and recent Russian attacks on Ukrainian cities. The US-made ATACMS missiles, with a range of up to 300km, are likely to be used first against Russian and North Korean forces in Russia's Kursk region. This move has been met with criticism from Moscow, with Putin's spokesperson warning of an "appropriate" reaction. The decision comes just two months before Donald Trump, who is skeptical of additional military aid to Ukraine, takes office.
READ MOREGold Snaps Losing Streak as Dollar Momentum Slows
Gold prices bounced back on Monday after six consecutive sessions of losses, driven by a pause in the U.S. dollar's rally. Investors are now awaiting comments from Federal Reserve officials for insights into the future interest rate trajectory. The precious metal's price rose 1.3% to $2,593.32 per ounce, moving away from a two-month low reached last Thursday. This rebound comes after gold experienced its largest weekly decline in over three years due to expectations of less aggressive interest rate cuts by the Fed.
READ MORETrump's Tax Cut Vision Gains Momentum with GOP Sweep
President-elect Trump's tax cut dreams have received a significant boost following the Republican sweep of the presidency and Congress. This victory opens the door for a multi-pronged approach to reducing taxes, going beyond simply renewing the 2017 cuts. While Republicans now have the power to enact tax legislation unilaterally, they must navigate internal debates about the size of tax cuts and their impact on the national deficit.
READ MOREPowell Emphasizes Patience in Rate-Cutting Strategy as Economy Thrives
In recent remarks, Fed Chair Jerome Powell stressed that the robust U.S. economy provides flexibility in the timing of future rate cuts. He noted that the current economic conditions don't necessitate hasty rate reductions. Powell reaffirmed the Fed's commitment to bringing inflation down to 2%, acknowledging that the path may not always be smooth.
READ MORETrump's Tariffs: Why Some CEOs Aren't Buying the Doom and Gloom
While economists predict significant economic disruption from Trump's proposed tariffs, many business leaders are less concerned. CEOs and investors are skeptical that Trump will follow through on all his tariff threats and express confidence in their ability to navigate any new trade policies. This optimism stands in stark contrast to economists' dire predictions.
READ MOREUnexpected Boost: October Retail Sales Surpass Predictions
October's retail sales data showed a 0.4% increase, surpassing forecasts and indicating continued consumer spending strength. The report also revealed a substantial upward revision to September's sales, further highlighting the robust state of consumer spending.
READ MOREInflation Ticks Up to 2.6% in October, Halting Downward Trend
The latest Consumer Price Index (CPI) report shows U.S. inflation rose to 2.6% year-over-year in October, up from 2.4% in September. This increase breaks the recent trend of cooling inflation. Monthly inflation remained steady at 0.2%, while core inflation measures held stable.
READ MOREStudy: Tiny Fraction of IMF Gold Could Wipe Out Debt for Dozens of Countries
A new study suggests the IMF should sell 4% of its gold reserves to provide $9.52 billion in debt relief for 86 low-income countries affected by climate disasters. This would expand the IMF's Catastrophe Containment Relief Trust, which currently has limited funding and eligibility. The proposal aims to address the growing burden of IMF loan repayments on vulnerable economies.
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