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.
Subscribe
Euro Zone Business Activity Shrinks to Six-Month Low After New Coronavirus Lockdowns
The flash euro zone PMI composite output index came in at 45.1 in November — the lowest reading in six months.
READ MORE
G20 Leaders Pledge to ‘Spare No Effort’ to Ensure Equitable Access to Coronavirus Vaccines Worldwide
"We are committed to leading the world in shaping a strong, sustainable, balanced and inclusive post-COVID-19 era," G-20 leaders declared in a twelve page document released on Sunday evening.
READ MORE
Coronavirus Live Update: U.S. Continues to Notch Case Records
The coronavirus has infected more than 58.75 million people globally as of Monday, killing at least 1.38 million people so far.
READ MORE
Silver to Close Out the Week on Solid Footing
Ultimately, this is a market that is going to react to the US dollar and of course the overall risk appetite around the world as silver is also an industrial metal, not just a precious one. Because of this, I like the idea of buying short-term dips and have for a while.
READ MORE
The Ultimate Store of Value: Central Banking
Gold is a good hedge against inflation; it is the ultimate store of value. Even if economic fundamentals evolve, and requirements can vary from advanced to emerging economies, gold’s strengths remain.
READ MORE
10 Top Central Bank Gold Holdings: Global Central Bank Gold Reserves Top 33,000 Tonnes
Global central bank gold reserves top 33,000 tonnes, roughly one-fifth of all gold ever mined. What are the top central bank gold holdings?
READ MORE
Why We Need a Free Market in Money
What is fiat money and what does it do? This is essential to understand since today’s worldwide unbacked paper, or “fiat,” money regime is an economically and socially destructive scheme—with far-reaching and seriously harmful consequences.
READ MORE
Mnuchin Says Main Street U.S. Companies Need Grants, Not Loans
U.S. Treasury Secretary Steven Mnuchin on Friday defended his decision to end several of the Federal Reserve's key pandemic lending programs on Dec. 31, saying Congress should use the money to help small U.S. companies with grants instead.
READ MORE
The 12 Financial Metrics Mnuchin Listed as Reasons for Letting the Fed’s Bondholder Bailout Expire
Jawboning alone had whipped the markets into froth. So maybe enough is enough, and let taxpayers have their money back as planned?
READ MORE
Japan’s October CPI Falls at Sharpest Pace in Over Nine Years Amid Pandemic
The decline in the core consumer price index also came as it lost momentum in year-on-year terms, over the past year driven by a sales tax hike from 8% to 10% implemented in October 2019, according to the Internal Affairs and Communications Ministry.
READ MORE
ECB’s Guindos Says Euro Zone Economy Set for Another Contraction: Bloomberg
The euro-area economy may shrink in the final quarter of the year as a second wave of lockdowns to combat the pandemic derails the recovery...
READ MORE
IMF Warns of Slowing Momentum in Global Recovery Amid High Infection Rates
"While global economic activity has picked up since June, there are signs that the recovery may be losing momentum, and the crisis is likely to leave deep, unequal scars,"
READ MORE
Ahead of G20, UN Chief Warns ‘Developing World on Precipice of Financial Ruin’
United Nations Secretary-General Antonio Guterres warned on Friday that "the developing world is on the precipice of financial ruin and escalating poverty, hunger and untold suffering" as the world struggles to combat the coronavirus pandemic.
READ MORE
Gold Price and Gold Stocks Outlook: The Contrarian Good News For Gold
No matter your view of whether the price of gold is a good bet...
READ MORE
Gold Rebounds as Mnuchin Rekindles Stimulus Hopes
Gold bounced on Friday after U.S. Treasury Secretary Steven Mnuchin said that negotiations on stimulus measures will continue, boosting the metal's appeal as a hedge against likely inflation.
READ MORE
Mnuchin Says He and GOP Leaders Will Discuss Plan to Pass Targeted Stimulus With Democrats’ Help
Mnuchin said that he and GOP lawmakers will attempt to draft a targeted stimulus package and meet with Democrats.
READ MORE
Pandemic Emergency Unemployment Surge Strengthens
PEUC claims come into play after someone exhausts all their regular state unemployment benefits.
READ MORE
CB Leading Economic Index: Continued Recovery with Continued Downside Risk
For a better understanding of the relationship between the LEI and recessions, the next chart shows the percentage-off the previous peak for the index and the number of months between the previous peak and official recessions.
READ MORE
JPMorgan Becomes First Major Bank to Say First Quarter GDP Will Decline Because of Covid Surge
The economists expect about $1 trillion of fiscal stimulus, likely beginning near the end of the first quarter. That should help boost midyear growth.
READ MORE
‘Fraud’ Is a Banned Word in U.S. Aid Program Overwhelmed by It: Bloomberg
A U.S. agency facing mounting scrutiny over how it doled out checks from a $212 billion pandemic relief program has privately directed employees not to use the word “fraud” in writing if they spot suspicious applications.
READ MORE