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 NEWSALERT: How the Russian Gold Ban Speeds Up THE GREAT RESET
Today, Mike Maloney delivers an earth shattering news update based around what he dubbed many years ago as ‘The Death of the Global Dollar Standard’…but is now more commonly referred to as ‘The Great Reset’.
How to Buy a Beachfront Condo with Gold: Jeff Clark’s Keynote Presentation at the VRIC
Our own Jeff Clark provided a keynote talk at last month’s Vancouver Resource Investment Conference.“How to Buy a Beachfront Condo—and Anything Else—with Gold. Plus, the Mining Stocks I’m Betting Big On.”Jeff shows gold’s ratio to many big-ticket items and how they could all become more affordable in the near future, including a new car, new boat, beer, wine, luxury resort stay, and yes, a beachfront condo. But only if you use gold, not depreciating fiat currency.
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Gold Defends $1,800 and Rebounds Swiftly on Fed’s Preferred Inflation Gauge
Gold witnessed a dramatic turnaround during the early European session and rallied over $20 from the vicinity of the $1,800 mark or the lowest level since May 16. The momentum pushed spot prices to a fresh daily high, around the $1,825 region, though lacked follow-through buying.
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Bitcoin Falls Below $19,000 Again As Pressure Mounts on Crypto Firms
Bitcoin price remained under pressure in June as a number of factors including rising rates and a liquidity crisis in the crypto industry weighed on the world's biggest cryptocurrency.
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Rising Interest Rates Will Crush the Federal Budget: WSJ
The Federal Reserve’s policies of increasing interest rates and quantitative tightening—reducing its $8.9 trillion balance sheet—will increase the volume and cost of federal government borrowing, slamming the federal budget and exposing the consequences of decades of deficit spending.
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Fed's Favorite Inflation Indicator Dips, US Spending Slows In May
The headline-maker from this morning's macro melange is The Fed's favorite inflation indicator - Core PCE Deflator - printed lower than expected at +4.7% YoY (vs +4.9% expected and +4.9% prior). The headline May PCE printed +6.3%, equal to the April data
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Euro-Area Confidence Dips on Consumer Gloom and Recession Fear: Bloomberg
Confidence in the euro-area economy slipped as households become more pessimistic amid fears a Russian energy cutoff will spark a recession.
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French Inflation Hits Fresh Record as ECB Prepares to Hike Rates
French inflation quickened to the fastest since the euro was introduced, raising pressure on President Emmanuel Macron and the European Central Bank to do more to contain the shock for firms and households.
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UK Household Incomes Are in The Longest-Ever Run of Declines
Adjusted for inflation, disposable incomes dropped 0.2% in the first three months of the year, the Office for National Statistics said Thursday. That’s the fourth straight quarter of decline -- the longest run since records began in 1955.
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Base Metals Set for Worst Quarter Since 2008 on Global Downturn Angst
Base metals headed for the worst quarterly slump since the 2008 global financial crisis as China’s economy recovered only gradually and fears of a world recession intensified.
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A Housing Market Crash Could Hit These 20 Cities the Hardest: Moody's Analytics
Moody's Analytics economists expect prices to eventually decline in these metropolitan areas that now have the most overvalued homes.
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Housing: ‘We’re at a Tipping Point’ for Home Prices, Economist Says
Higher mortgage rates are finally carving out early signs of a cooling housing market.
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Initial Jobless Claims At 5-Month Highs As Layoffs Accelerate
The number of Americans filing for jobless benefits for the first time was 231k last week (down very modestly from an upwardly revised 233k) leaving the 4-week average at the highest since January 2022.
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Fed’s Powell Says Clock Is Running To Bring Inflation Down
The Federal Reserve will not let the economy slip into a "higher inflation regime" even if it means raising interest rates to levels that put growth at risk, Fed Chair Jerome Powell said on Wednesday in remarks emphasizing the U.S. central bank's do-whatever-it-takes approach to tempering future price hikes.
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GLOBAL Markets Sink on Fears for Global Economy, Capping Worst H1 on Record
Stocks sank on Thursday to extend what is the worst first half of a year for global share prices on record, as investors fret that the latest show of central bank determination to tame inflation will slow economies rapidly. Central bank chiefs from the U.S. Federal Reserve, the European Central Bank and the Bank...
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U.S. Recession “More Likely Than Not”, Same for Europe: PIMCO
A U.S. recession over the next 12 months is "probably more likely than not", PIMCO's global chief investment officer for fixed income Andrew Balls said on Thursday.
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The Economy Still Isn’t Ready for the Big Rate Hikes Ahead, Wells Fargo CEO Says
Wells Fargo CEO Charles Scharf said he is betting on "more significant rate hikes" as the Federal Reserve looks to try to rein in high inflation.
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Futures Fall, S&P 500 Heads for Worst First Half in 52 Years
US stock futures tumbled Thursday morning, with the major averages on track to post steep declines for the month of June and first half of 2022 as concerns over heightened inflation and the prospects of a recession weighed on risk assets.
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Is Retirement Dead? Most Americans Have No Retirement Savings
Six years ago, I wrote an article titled 'Grasshopper Nation', warning about how poorly prepared Americans are for retirement. Sadly, the data has only gotten worse since then. I’ll deliver the punchline here first, and then get into the underlying data:
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Stocks, Bonds & Cryptos Have All Seen Big Falls, but Gold Remains Doing What It’s Supposed To Do
Stocks, bonds and cryptocurrencies have all seen big falls this year. But gold remains at its one-year average. It may be dull, but it’s doing what it’s supposed to do, says Dominic Frisby. Preserving its value – and your capital.
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Reserve Bank of Zimbabwe To Introduce Gold Coins, Hikes Interest Rates
RESERVE Bank of Zimbabwe (RBZ) says it will be introducing gold coins as part of measures to ensure investors and the general public have alternative means to preserve value, cushioning them from the negative impact of resurgent inflation in the economy.
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