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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Britain’s Borrowing Hits Peacetime High as Covid Fuels Economic Plunge Not Seen for 300 Years
The British economy is forecast to contract by 11.3% in 2020, according to the Office for Budget Responsibility.
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Saxo's Gold/Silver and Market Quick Take: November 25, 2020
Gold (XAUUSD) has paused after reaching our target at $1800/oz, the 200-day moving average. Surging stocks on vaccine optimism and U.S. transition have reduced but, in our opinion, not removed its appeal. Following another big ETF reduction yesterday, total holdings have now dropped by 2.6 million ounces since November 9.
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Durables Goods Orders Jump In October, Remain Down Year-Over-Year
After March and April's collapse, durable goods orders have risen for 6 straight months.
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Q3 GDP Unchanged At Record 33.1% In First Revision
In news that not a single algo will care about, in the third quarter, GDP rose an annualized 33.1%, unchanged from the first estimate and right on top of expectations.
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Initial Jobless Claims Rise For 2nd Week In A Row, Pandemic Claims Soar
And this is before the more wide-spread lockdowns have hit...
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Gold Price Firms, Supported by Dollar Retreat
“It’s clearly bargain hunting at present. Prices have fallen over $150 in the past two weeks and investors are grabbing this opportunity to take positions,” said Robin Bhar, an independent analyst.
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Wall Street is Celebrating Easy Money Under Yellen: Jim Bianco
Jim Bianco gives his thoughts on Janet Yellen in a Bloomberg interview.
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The Most Splendid Housing Bubbles in America: Nov. Update
A pandemic of house price inflation.
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Another Record Low Mortgage Rate Just Caused Demand to Jump for Both Refinances and Home Purchases
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) decreased to a survey low of 2.92% from 2.99%.
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Stimulus Can’t Stay Forever, MAS Head Warns Global Policy Makers
Governments worldwide have pumped trillions of dollars into their economies, with that fiscal support taking the lead in combating the effects of the pandemic and winning the backing of multilateral institutions like the International Monetary Fund that usually are more cautious about debt. Meanwhile, central bankers have kept interest rates near record lows and have tinkered with unconventional tools.
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Japan Maintains Severe Assessment of Economy in November
To support Japan’s economy, Suga has already ordered a third extra budget, with one of his advisers expecting it to reach around 15 trillion yen in spending. But as cases spike in the U.S. and Europe, Japan also faces the possibility of another drop in growth.
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Europe's Failings Are Back for Everyone to See
Governments are struggling to deal effectively with the health crisis, as they dither between keeping economies open and imposing new restrictions. The European Central Bank looks set to announce a new round of stimulus in mid-December...
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ECB Warns European Banks May Need More Bad Loan Provisions
Euro-area banks will probably have to set aside more money to soak up losses when government pandemic support ends and the economy grapples with massively increased debt, the European Central Bank said.
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Ecb Warns Bank Profits Will ‘Remain Weak’ Throughout Next Year
The coronavirus-induced crisis has worsened banks' profits and that will continue to be felt over the coming months, according to the ECB.
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The Market Is Looking for Clues From the Fed on Whether It Will Adjust Bond Buying
The Fed could provide clues about whether it intends to change its bond buying program when it releases its minutes Wednesday.
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Head of WHO Suggests COVID Restrictions Will Continue Even After Vaccine
Welcome to the new normal...
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Coronavirus Live Updates: CNBC
The coronavirus has infected more than 59.37 million people globally as of Tuesday, killing at least 1.39 million people so far.
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The Relevance of Gold as a Strategic Asset: November 24, 2020
The impact of loose monetary policy could also lead to unintended consequences on asset performance and distort asset allocations for years to come. Additionally, widespread fiscal stimuli and ballooning government debt are raising concerns about a long-term run up of inflation.
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Zimbabwe Gold Smugglers Shipping Over $1.5 Billion a Year
More than $1.5 billion of gold is smuggled out of Zimbabwe every year, depriving the cash-strapped economy of crucial foreign-exchange revenues, according to research organization International Crisis Group
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JPMorgan Makes $1 Billion From Gold Trading After Paying $1 Billion Fine For Manipulating Gold Trading
This, in a nutshell, is how Wall Street works.
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