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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The Core! Core PCE Deflator Declines To 4.4% YoY As M2 Money Stops Spinning At -1.3% YoY (Taylor Rule Estimate Now 10.0%)
There was a hilarious film with Hillary Swank and Aaron Ekhart called “The Core” where earth’s core stops spinning and the earth gets cooked by the Sun’s rediation. Now we learn that the Earth’s inne core has actually stop spinning. This time, however, all that has happened is that Joe Biden is President which is almost as bad,..
READ MOREGold: Trader Reaction to April Comex Gold Futures of $1947.90 Sets the Tone on Friday
Robust data on Thursday likely greenlighted the Fed to keep interest rates high for longer. At 13:00 GMT, April Comex Gold is trading $1947.80, up $1.10 or +0.06%. On Thursday, the SPDR Gold Shares ETF (GLD) settled at $179.46, down $1.65 or -0.91%.
READ MOREAmericans' Spending Drops Again In December, Fed's Favorite Inflation Signal Slows
The headline from this morning's income and spending data is The Fed's favorite inflation indicator - Core PCE Deflator - printed pretty much in line with expectations (headline up 0.1% MoM was marginally hotter than expected). The year-over-year prints dropped to 5.0% and 4.4% respectively for headline and core - while both lower and trending down from the highs last year...
READ MOREECB Seen Delivering Two Half-Point Rate Hikes on Way to May Peak
Back-to-back interest-rate increases of 50 basis points are approaching from the European Central Bank, whose battle with persistent inflation will see it hike borrowing costs until May,
READ MORESoaring Rice Price Shows Food Inflation Still Stalking the World
Rice prices are climbing, a sign that the food inflation shock that threw millions into poverty is still reverberating, even as the cost of wheat and other farm commodities has declined.
READ MOREHong Kong Home Prices Drop 15.6% In 2022, Snap 13 Years of Gain
Private home prices in Hong Kong, one of the most unaffordable territories in the world, fell 15.6% in 2022 in the first annual drop since 2008, official data showed on Friday.
READ MOREJapan PM Says Can’t Rule Out Return of Deflation Despite Price Spike
Japanese Prime Minister Fumio Kishida said on Friday that a return to deflation in the world's third-largest economy cannot be ruled out, because domestic demand remains weak.
READ MOREConsumer Inflation in Japan’s Capital Hits Near 42-Year High, Keeps Boj Under Pressure
Core consumer prices in Japan's capital, a leading indicator of nationwide trends, rose 4.3% in January from a year earlier, marking the fastest annual gain in nearly 42 years and keeping the central bank under pressure to phase out economic stimulus.
READ MOREJeremy Grantham Predicts More Doom and Gloom Ahead
Investor sentiment has been improving, but the contrarians haven’t gone silent. Legendary British investor Jeremy Grantham is predicting hard times ahead, as he lays out his case for doom and gloom to cast a shadow on the markets. In Grantham’s view, the pandemic stock gains were a bubble, and that bubble hasn’t fully popped yet. Putting some numbers to this view, Grantham...
READ MOREFed Set to Deliver Quarter-Point Rate Hike Along With ‘One Last Hawkish Sting in the Tail’: MW
The Federal Reserve on Wednesday will hike rates by a quarter-point, a downshift from December but will make sure to sound hawkish, economists said.
READ MOREThe 2023 Rally Bears an ‘Eerie Resemblance’ to Last Summer’s Headfake
What to know in markets on Friday, January 27, 2023.
READ MOREGlobal Markets Take Breather After January Surge, Adani Plunges in India
World stocks eked out a 5-1/2 month high and the dollar held close to an eight-month low on Friday, as reassuring U.S. economic and inflation data kept the bulls largely in charge ahead of next week's slate of top central bank meetings.
READ MOREUS Futures Drop After Horrific Intel Guidance, Brace For PCE Data
US futures dropped after yesterday's meltup, led lower by semiconductor stocks and traded in a tight range on Friday after a catastrophic earnings report and guidance from (former?) chip giant Intel, while investors awaited key inflation figures for clues on what the Fed will do next week. Nasdaq 100 futs were down 0.3% by 7:30 a.m. ET while S&P 500 futures dropped 0.2%.
READ MOREDollar-Dominated Global Order Is ‘Fading Away’: Ray Dalio
With the dollar losing clout and the world dividing into competing currency and economic blocs, American investor Ray Dalio said it will be countries less vulnerable to global conflict like those in Southeast Asia that prosper in coming years.
READ MOREChina’s Biggest Brokerage Predicts Gold Price Record Run
China’s central bank bought gold in November and December, its first purchases since 2019 to diversify its reserves. Hedge funds also boosted their net-long positions. Are gold prices set for records in 2023?
READ MOREGold Prices Buoyed by Rally as Investors Get on Board: WSJ
Gold purchases by everyone from central banks to institutions and ordinary investors have lifted the precious metal in 12 of the past 16 sessions, according to Dow Jones Market Data. The most-actively traded futures contract has risen about 20% from its September low.
READ MORECould Gold and Silver Go Parabolic in 2023?
The landscape mimics (on steroids) the 1970s. With current macroeconomic and geopolitical conditions such as they are, 2023 is even more bullish for the metals than it was five decades ago. And silver is not far behind.
READ MOREBuy Gold to Fund Bottom Fishing!
Gold – can’t eat it, can’t use it, but its everything crypto never was: tangible, exchangeable, a store of value, and a kitty for when things get tough. In uncertain markets…. Don’t forget the yellow stuff.
READ MOREThe World’s Largest Metals Market May Never Return To Its Former Glory
Doomsters have predicted the end of the LME before. Still, after 146 years and counting, the LME is still with us and the go-to nickel price point. However, volumes have tanked since the LME nickel debacle in March of 2022. In fact, the problems no longer relate just to nickel, but the entire non-ferrous metals spectrum.
READ MOREConference Board Pointing to Recession: The Big Question
After yield curve inversions, the Conference Board’s Leading Indicator Index is probably the best leading indictor of recessions. It has triggered before every recession since the 1970s with an average lead time of about 7 months. Via TheMacroCompass.com, the following chart highlights that the indicator is clearly signaling a recession later this year.
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