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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.

Displaying 21 to 40 of 50403
Feb 20, 2024 - 11:18:15 PST

Cash's Comeback: Investors and Corporates Bet Big Despite Rate Cut Delays

Despite predictions of its demise earlier this year, cash remains a powerhouse in the financial landscape. As the Federal Reserve postpones interest rate cuts, a robust influx of investment is evident in money-market funds, with investors adding a staggering $128 billion since the year's start. Corporate treasurers are also on a cash accumulation spree, holding a record $4.4 trillion by the end of the third quarter. This trend is further amplified by the market's seamless absorption of over $1 trillion in Treasury bills since mid-2023, signaling not just the resilience but also the potential for further growth in cash holdings.

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Feb 20, 2024 - 10:56:22 PST

Leading Economic Index No Longer Predicts U.S. Recession -Conference Board

For the first time since the summer of 2022, the Conference Board's Leading Economic Index (LEI) no longer forecasts an impending U.S. recession, despite a continuous decline over the past 23 months. In January, the LEI fell 0.4% to 102.7, marking its lowest point since the brief recession in April 2020 triggered by COVID-19 and subsequent lockdowns. This change in outlook is attributed to positive contributions from six of the index's ten components over the last six months, signaling a shift away from recession predictions. However, expectations for economic growth in the second and third quarters remain subdued, with projections close to zero, indicating a stagnating economy rather than a contracting one.

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Feb 20, 2024 - 08:58:50 PST

How Productivity Gains Could Shape the Fed's Inflation Battle

The Federal Reserve's journey towards achieving a 'soft landing' for the economy may be bolstered by a remarkable surge in productivity witnessed in the post-Covid era. Wall Street economists are optimistic that the trend of high productivity growth, which has seen an average increase of 3.9% over the last three quarters — a rate more than triple that of the decade before the pandemic — will persist. This productivity boost allows companies to increase wages without raising prices, potentially easing inflation concerns and allowing for a more lenient monetary policy stance.

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Feb 20, 2024 - 07:47:55 PST

Household Debt Climbs but Economy Shows Signs of Robust Growth

In January 2024, U.S. retail and food service sales saw a modest increase to $700.3 billion, marking a 0.6% rise from the previous year, according to Census Bureau data. This uptick in consumer spending has contributed to a significant rise in household debt, reaching $17.5 trillion in the fourth quarter of 2023, as reported by the Federal Reserve of New York. While increased consumer debt is a concern, the surge in spending is a positive indicator for the economy, given that consumer expenditure plays a vital role in the nation's Gross Domestic Product (GDP). Economists, including Christopher Rupkey of FWDBONDS in New York, view this trend as a sign of economic strength, potentially obviating the need for recession forecasts and suggesting a balanced economic climate that could justify interest rate cuts in 2024.

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Feb 20, 2024 - 07:40:51 PST

Deciphering the U.S. Economy's Post-Pandemic Strength

Over the last four years, the U.S. economy has experienced a rollercoaster of events, starting with a devastating pandemic that led to a financial market crash and economic downturn. This was followed by a period of spiraling inflation and rapidly increasing interest rates that put significant pressure on households and industries alike. Surprisingly, the economy has emerged from these challenges stronger, with stock markets reaching record highs and a recession seemingly averted. Despite these positive indicators, the path that led to this recovery remains a mystery, and the future of the U.S. economy in 2024 is shrouded in uncertainty.

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Feb 20, 2024 - 07:29:01 PST

Argentina Eyes Economic Stability Through Dollarization: A Comparative Analysis

Argentina's President Javier Milei has reignited discussions about adopting the U.S. dollar to reignite the Argentina economy, mirroring the monetary strategy of Panama, Ecuador, and El Salvador. This significant shift aims to stabilize Argentina's economy by potentially curbing inflation and fostering economic stability, leveraging the precedent set by these countries. Through this proposed change, Argentina seeks to address its long-standing economic challenges by integrating a more stable and widely accepted currency, which could have profound effects on inflation rates, investment flows, and overall economic confidence.

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Feb 20, 2024 - 07:22:37 PST

Gold Clings to Stability Amid High Interest Rate Fears

Gold prices have remained relatively stable in recent trading sessions, dropping below $2,000/oz briefly, before climbing back above $2,030/oz. Despite a U.S. market holiday contributing to limited trading cues, gold has shown resilience, bouncing back from a two-month low to hover around the $2,000 to $2,050 an ounce mark through much of 2024. This stability comes as geopolitical tensions in the Middle East and between Russia and Ukraine offer some support to gold's value.

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Feb 20, 2024 - 07:07:23 PST

Inflation, Growth, and Labor Data Heat Up, But Wall Street Stays Skeptical

Despite economic data indicating that the U.S. economy might be improving, with indicators like inflation, economic growth, and labor market strength showing higher-than-expected figures, Wall Street is responding with a dose of skepticism. Economists are tempering reactions to these reports, suggesting that the apparent surge in numbers could be attributed to seasonal adjustments and unique factors at the year's start rather than a sustained trend. This view highlights the ongoing debate about the economy's direction and the challenge of interpreting data in a complex and shifting financial landscape.

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Feb 20, 2024 - 06:26:30 PST

The Road to $3,000 Gold: Citi Analysts Eye Central Bank Moves and Global Economic Trends

Citi analysts predict a potential surge in gold prices to $3,000 per ounce and oil to $100 per barrel in the next 12 to 18 months, driven by three key catalysts: a significant increase in central bank purchases of gold, the onset of stagflation, or a deep global recession. Gold's price, already at $2,016, could rise by approximately 50% due to these factors. The analysts highlight "de-dollarization" in emerging market central banks as a primary catalyst, which could lead to a crisis of confidence in the U.S. dollar and significantly boost gold purchases. This shift could challenge jewelry consumption as the dominant force in gold demand, marking a significant change in the market dynamics of gold.

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Feb 16, 2024 - 12:19:05 PST

Credit Markets Show Unwavering Strength Amid Rising US Inflation Concerns

Despite unexpectedly high U.S. inflation rates challenging the outlook for imminent Federal Reserve rate cuts, the credit markets remain robust, buoyed by a substantial influx of investment. This surge of capital into the credit market has effectively cushioned investors against potential downturns, including the diminishing likelihood of central bank rate reductions this year. On Tuesday, despite the inflation surprise, risk premiums on both high-grade and junk bonds dropped, and a key measure of default insurance barely ticked higher than the previous day's levels. This resilience is largely attributed to the continuous flow of funds into credit investments, leaving managers with ample cash to deploy.

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Feb 16, 2024 - 12:12:21 PST

Fed's Latest Stress Test Scenarios: Banks Brace for Hypothetical Global Recession

The Federal Reserve Board has unveiled the hypothetical scenarios for its annual stress test, a critical evaluation aimed at ensuring the resilience of large banks in the face of severe recessions. This year, for the first time, the Board has introduced four additional hypothetical elements in its "exploratory analysis" to assess various risk factors, although these will not impact bank capital requirements. The stress test will scrutinize the ability of 32 banks to maintain lending operations during a drastic global recession scenario, which includes significant stress in commercial and residential real estate markets and corporate debt markets.

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Feb 16, 2024 - 11:56:05 PST

Fed's Bostic Warns: No Quick Path to Interest Rate Cuts

Federal Reserve Bank of Atlanta President Raphael Bostic has signaled a cautious stance on the prospect of cutting interest rates in the near future. His comments come amid speculation and market expectations of a potential rate cut by the Fed, particularly in light of the central bank's upcoming policy meeting in March. The Fed's deliberate approach shows they are looking for clear evidence of inflation's decline towards their objective before considering rate adjustments.

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Feb 16, 2024 - 11:48:30 PST

China's Gold Demand Rises: Central Bank Buys as Lunar New Year Approaches

China's gold market kicked off 2024 marking its strongest January on record for wholesale gold demand at 271 tons. The People's Bank of China (PBoC) continued its gold acquisition streak for the 15th consecutive month, adding 10 tons to its reserves, now totaling 2,245 tons. The upcoming Spring Festival is expected to further bolster gold demand due to traditional seasonal buying surges, with predictions of a notable year-over-year growth in 2024 New Year holiday gold consumption.

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Feb 16, 2024 - 10:41:47 PST

Signs of an Impending 2024 Recession, Says Citi's Top Economist

Despite the seemingly robust indicators of historically low unemployment, strong consumer spending, and solid GDP growth, the US is on a path towards a recession by mid-2024, according to Citi's chief US economist. While recent data, including a blowout January jobs report adding 353,000 jobs, paints an optimistic picture, deeper analysis reveals concerning signs. The labor market, a critical component of economic health, exhibits vulnerabilities such as a decline in the number of hours worked, a reduction in full-time employment, and a hiring freeze in sectors like the restaurant industry. These underlying issues suggest that the surface-level economic strength may be misleading, signaling potential trouble ahead for the US economy.

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Feb 16, 2024 - 08:19:33 PST

ZeroHedge: Arizona Joins BRICS, Druckenmiller Buys Barrick

The Arizona Senate committee has given the green light to Senate Bill 1633 (SB1633), which aims to create the Arizona Bullion Depository, a secure facility for storing precious metals. More than just a storage solution, the bill also paves the way for the issuance of state-minted gold and silver coins, alongside a specie-backed transactional currency. This initiative, passed by a narrow 4-3 vote on Feb. 12 by the Senate Finance and Commerce Committee, represents a huge step toward integrating precious metals more directly into the state's economy, offering an alternative to traditional fiat currencies.

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Feb 16, 2024 - 07:12:53 PST

Proposed Ban on Open-Pit Mining Could Crush Mexico's Economy

Mexican President Andres Manuel Lopez Obrador's recent proposal to ban open-pit mining is causing concern within the mining sector, which is a significant contributor to the country's economy, accounting for 2.5% of its GDP. Industry representatives argue that the proposed ban, aimed at preventing new open-pit mining concessions, could lead to uncertainty and deter investment in this crucial sector. Mexico, being the leading silver producer globally and a significant producer of gold and copper, could face adverse effects from such a policy. Although the proposal is not expected to pass in the short term due to a lack of necessary congressional support, it has been endorsed by Claudia Sheinbaum, the frontrunner to succeed Lopez Obrador, as part of her campaign platform. This endorsement has intensified concerns about the future of mining investments in Mexico.

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Feb 16, 2024 - 07:04:04 PST

Oil Prices Set for Stability in 2024, Say Industry Experts

Oil markets are expected to stabilize in 2024, steering clear of the dramatic fluctuations experienced in previous years. This outlook is shared by two leading industry figures, International Energy Agency Executive Director Fatih Birol and Mercuria Energy Group CEO Marco Dunand. They predict a year of "moderate" oil prices, supported by a slowdown in global demand growth and an increase in supply, particularly from the Americas. Some analysts, including those from JPMorgan Chase & Co., are forecasting potential price surges in the coming months, especially as Brent crude maintains a strong position above $80 a barrel.

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Feb 16, 2024 - 06:55:59 PST

Fed's Favored Inflation Measure May Show Softer Rise Than CPI Suggests

The Consumer Price Index (CPI) data for January revealed an unexpected surge, with core prices, excluding food and energy, climbing by 0.4% and surpassing many predictions. This uptick was largely driven by a 0.7% increase in core services, marking the most significant rise since September 2022. However, this spike in the CPI might not fully translate to the Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index. Key differences between these measures, such as the lower weighting of shelter costs and distinct calculations for medical care services in the PCE, mean inflation rates reported by the core CPI could remain higher than those shown by the core PCE index.

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Feb 16, 2024 - 06:48:54 PST

January Sees U.S. Wholesale Prices Increase, Highlighting Ongoing Inflation Challenges

Wholesale inflation in the U.S. experienced an uptick in January, indicating persistent inflationary pressures within the economy. According to the Labor Department, the producer price index, which measures inflation at the wholesale level before it impacts consumers, increased by 0.3% from December to January, reversing a slight decline from the previous month. Year-over-year, this index saw a moderate rise of 0.9% in January. The ongoing issue of inflation has become a significant concern for the public and is playing a critical role in President Joe Biden's re-election campaign. Despite measures of inflation decreasing from their peak and approaching the Federal Reserve’s target, the average prices remain significantly higher than when President Biden assumed office, with a roughly 19% increase, causing frustration among many Americans.

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Feb 15, 2024 - 14:11:05 PST
video

I Believe Gold & Silver Demand Will Rise 4x Within 5 Years

Mike's conversation with Rick Rule delves into the dynamics of market capitalizations, potential recessions, and the impact of taxes and inflation.

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