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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Gold Futures Poised for Back-to-Back Gains, Despite Treasury Yield’s Rise
Gold futures were higher for a second day Wednesday, even as the precious metal was confronting bearish factors, including rising Treasury yields and a slight rise in the U.S. dollar during the session.
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Gold Trading in Moscow Gets a Boost After London Tie-Up
“We hope for the similar impressive growth in 2022,” Igor Marich, managing director for sales and business development at the exchange, said in an interview. “The Russian gold market has long b
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MBA Economist Says Inflation Not Transitory: Projects Several Years of High Inflation Rates
Inflation is rising at its highest rate in more than a decade, a trend that one economist believes could continue for the next several years.
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Fed Seen Well Behind as Global Race to Rate Hikes Hits Overdrive
Compared with the rest of the world’s central banks, the market’s timetable for when the Federal Reserve will start raising interest rates looks positively subdued. Most others, with the exception of the European Central Bank, are expected to move at a far speedier pace.
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Inflation Is About to Get Much Worse: Barron's
Inflation pressures won’t peak until mid-2022 at the earliest, and much later, if monetary accommodation persists, warns Deutsche Bank's Alan Ruskin. Blame the Fed, not supply-chain issues.
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China Sets Weaker-Than-Expected Yuan Fix, Adds More Cash
China’s central bank set the reference rate for the yuan at a weaker-than-expected level as the currency’s surge threatens to derail growth in the world’s second-largest economy. It also boosted short-term liquidity. The PBOC boosted the injection of short-term cash to 100 billion yuan ($15.6 billion), after adding 10 billion yuan per day in the past nine sessions.
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China’s Falling Home Prices Cast Another Shadow Over Economy
China’s housing market slump has intensified in recent weeks as sales plunge and more developers default on their debt. Now the downturn has reached another milestone: home prices have begun falling for the first time in six years.
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Fed To Wait Until 2023 To Raise Rates: Reuters Poll
The Federal Reserve will wait until 2023 before raising interest rates, according to a majority of economists in a Reuters poll who nonetheless said the greater risk for the U.S. economy was persistently higher inflation over the coming year. While half the members of the U.S. central bank’s policy-setting committee projected last month that the Fed would raise its...
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Democrats Raise Proposed IRS Bank Reporting Threshold to $10,000 From $600
Senior Democrats in Congress have agreed to raise their proposed tax reporting threshold for bank account inflows and outflows to $10,000 a year, with exemptions for wage income, from an earlier proposal of $600 that drew criticism for being too intrusive. U.S. Senate Finance Committee Chairman Ron Wyden on Tuesday said the new $10,000 Internal...
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Bundesbank Chief And ECB Uber-Hawk Weidmann Quits 5 Year Early With One Final Inflation Warning
Weidmann said he is quitting for "personal reasons" on Dec. 31, just days after the ECB is scheduled makes a crucial decision on winding down the pandemic-era stimulus that has pushed inflation to its highest rate in over a decade.
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Guggenheim CIO Scott Minerd: Jerome Powell No Longer Favorite for Fed Chair Job
Guggenheim CIO Scott Minerd says the Biden administration may not reappoint Fed Chairman Jerome Powell due to rising political uproar on the institution's ethical standards.
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The "Everything Shortage”: Why Is Everything So Expensive & Out Of Stock? | Wolf Richter
The disruption the pandemic has inflicted on global supply chains is really starting to harm consumers. Prices for most items are up double digits in the past year. And product shortages are rampant these days.
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Gold Prices Mark First Gain in 3 Sessions As U.S. Dollar Weakens: MW
Gold futures ended higher on Tuesday, bucking headwinds from a rise in global stocks, as a weaker U.S. dollar helped prices for the precious metal score their first gain in three sessions.
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Saudi Hoard of U.S. Treasuries Shrinks Most Since Oil-Price Rout
Meanwhile investor worries about U.S. debt are on the rise. Although President Joe Biden has signed a bill that provides a short-term increase in the U.S. debt limit, it only allows the Treasury Department to meet its financial obligations until roughly Dec. 3 -- meaning another bitter partisan confrontation will likely unfold in a matter of weeks.
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China Cuts US Treasury Holdings in Aug to Lowest Since 2010 Amid Financial Risks
China trimmed more than $21 billion of its holdings of US Treasury bonds in August to the lowest level since 2010, in what experts call a move to avoid financial risks amid concerns for a potential debt crisis in the US.
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Atlanta Fed Says US Economy Suddenly On Verge Of Contraction
In its latest GDPNow forecast published moments ago, the Atlanta Fed slashed its estimate for real GDP growth in the third quarter of 2021 to just 0.5%, down from 1.2% on October 15, from 6% about two months ago, and down from 14% back in May.
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The WSJ and NYT Censor Yet Another Major News Story on the Fed and the Mega Banks It Supervises
On October 13, Wall Street On Parade broke the story that the Federal Reserve had quietly released the names of the mega banks that had grabbed tens of billions of dollars of repo loans under the Fed’s emergency repo loan operations that began on September 17, 2019 – months before there was a COVID-19 case in the U.S. or anywhere else in the world.
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"Idle Resources" Are Problems Caused by the Central Bank
The most important decision that authorities could make is to acknowledge the damage that the printing presses have caused and remove themselves from managing the so-called economy.
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Understanding the Price of Money
To explain the current purchasing power of money (PPM), the economist relies on the current anticipations of the future PPM. That is, people right now give up other goods for units of money, because these people expect that these units of money will be exchangeable for other goods in the near future.
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Governments Love Inflation, and They Won't Do Anything to Stop It
No government looking to massively expand its size in the economy and monetize a soaring deficit is going to act against rising prices, despite claiming the opposite.
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