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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Months-Long ‘Trading Blackout’ Was Urged for Fed Officials Last Year
U.S. Federal Reserve officials were strongly encouraged to observe a trading blackout for "several months" in the spring of 2020 as the central bank was embarking on a course of extraordinary actions to blunt the threat presented by the coronavirus pandemic, according to...
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Oil Prices Could Explode As U.S.' Largest Storage Hub Nears Empty
Well, in just a few weeks we may see the opposite scenario: no physical oil at all in the largest US commercial storage facility, leading to what may be a superspike in the price of oil.
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Whirlpool CEO Says He’s ‘Starting To Get Worried’ the U.S. Labor Shortage May Become Structural
Multiple factors are behind the current labor-market situation, economists say, including workers having health concerns, needing to juggle care responsibilities and unsatisfactory wage offerings at vacant positions. Early retirements and savings built up during the pandemic also may be limiting the number of people returning to the workforce.
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UK Public’s Inflation Expectations Rocket to Record High
A record proportion of the British public thinks inflation will accelerate over the next 12 months, according to data that could further boost expectations that the Bank of England will raise interest rates next month.
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Gold Facts And Fundamentals
The US dollar is a substitute for gold (i.e. real money). The price of gold is an inverse reflection of the changing value of the US dollar. The ongoing, never-ending deterioration of the dollar’s value means ever rising gold prices over time.
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Extreme Ratios Point to Gold and Silver Price Readjustments
With so many ratios seemingly out of whack, investors would be wise to reconsider the ratio of hard assets to paper assets in their portfolios. And those who already have a prudent allocation to gold bullion should be sure they also have an adequate ratio of silver holdings.
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What Happens if the World’s Key Metal Exchange Has No Metal?
What happens when the London Metal Exchange runs out of metal? That’s the question the exchange is urgently trying to address for its flagship copper contract, which sets the global price for one of the world’s most important commodities.
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Britain’s Royal Mint To Extract Gold From Discarded Electronics
Britain's Royal Mint said on Wednesday it planned to build a plant in Wales that could reclaim hundreds of kilograms of gold and other precious metals from electronic waste such as mobile phones and laptops.
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Venezuelans Break Off Flakes of Gold to Pay for Meals, Haircuts
There, in the barber shops and restaurants and hotels that constitute the main strip of one dusty little outpost after another, you’ll find prices displayed in grams of gold. A one-night stay at a hotel? That’ll be half a gram. Lunch for two at a Chinese restaurant? A quarter of a gram. A haircut? An eighth of a gram
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Inflation Is Feeling Increasingly More Pervasive, Persistent: Blackstone President
In at 1:30 > Jon Gray, president and chief operating officer of the Blackstone Group, joins ‘Squawk Box' to discuss the company's record earnings and inflation.
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Fed Unveils New Rules Cracking Down On Officials' Trading
"These tough new rules raise the bar high in order to assure the public we serve that all of our senior officials maintain a single-minded focus on the public mission of the Federal Reserve," said Federal Reserve Board Chair Jerome H. Powell. While this move does not ban trading, we would suggest that Senator Warren wins the first round...
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Group of 160 Republicans Urge Biden to Fix Supply Chain Crisis Before Considering More Social Spending
A group of 160 Republican lawmakers have sent a letter to President Joe Biden urging him to “reevaluate his priorities” and address the supply chain and ports crisis in the United States before considering additional social spending.
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Biden Tackles Supply-Chain Crisis With Few Tools, Clock Ticking
U.S. ports are full of goods, U.S. yards and warehouses are full of goods, hardly anyone wants to drive a truck to pick up and deliver those goods and those who do sit waiting in lines, often unpaid. And Americans continue to buy more stuff from abroad than ever.
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The Next Recession Could Come Courtesy of the Fed
Central bankers are in a precarious spot in this chaotic pandemic economy. U.S. and U.K. consumers are grousing about rising prices and want some relief. But if government officials give it to them by raising interest rates, they may set back the recovery. It wouldn’t be the first time an errant move by a central bank triggered a recession.
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Bank of America Says the Fed Is Playing With Fire by Downplaying Inflation and Needs a New Playbook
The Fed is effectively "fighting the last war," BofA global economist Ethan Harris said.
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The Fed Is Subsidizing the Money Market Funds Operated by Larry Fink’s BlackRock
There is the growing impression that Fink is functioning in a consultant capacity to the Federal Reserve while his company, BlackRock, also manages a significant part of Powell’s wealth. See our earlier report: BlackRock Authored the Bailout Plan Before There Was a Crisis – Now It’s Been Hired by three Central Banks to Implement the Plan.
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Another Fed Bank President’s Financial Disclosures Fail the Smell Test
Private Banks operated by the mega Wall Street banks have an unseemly reputation. So when we opened Atlanta Fed President Raphael Bostic’s financial disclosure forms and saw that he had a financial relationship with Morgan Stanley’s Private Bank, a red flag went up immediately.
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Why Biden’s $3.5 Trillion Spending Plan Worse for the Economy Than Manchin's $1.5 Trillion Proposal
Manchin's $1.5 trillion plan is still bigger than the Obama stimulus, and would be a major expansion of government's power to redistribute wealth.
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Big Changes in White House Ideas To Pay for $2 Trillion Plan
In an abrupt change, the White House is floating new plans to pay for parts of President Joe Biden’s $2 trillion social services and climate change package, shelving a proposed big increase in corporate tax rates though also adding a new billionaires' tax on the investment gains of the very richest Americans.
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September US Existing Home Sales Surprise! 6.29M Home Sold SAAR, Median Price Drops Like A Rock
It was a surprise to see 6.29 million home sold SAAR in September. That is a 7% MoM growth rate. The median price of existing home sales GROWTH slowed to 15.85% YoY (it was over 24% for the last two months).
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