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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DSM Pension Fund Invests 5% In Gold
The Dutch pension fund for specialty chemicals firm DSM has made a 5% investment in physical gold because of its diversification benefits, it claimed.
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Gold: Inflation 4.2% - The Cat Is Out Of The Bag
However, these are not normal times. Interest rates go up and gold and silver go up. This period is similar to the 1970s when the US had just come off the gold standard. Interest rates rose to 14% and gold ran up significantly. In 1981, gold hit $850 or $900, while the Dow Jones was at about 900 - a one-to-one spread between stocks and gold.
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Dogecoin Falls 15% To below 40 Cents on Elon Musk's Crypto abOut-face
Thursday's weakness continues a brutal week for dogecoin, the cryptocurrency which started as a joke nearly a decade ago but has risen to prominence this year.
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$365 Billion Wiped off Cryptocurrency Market after Tesla Stops Car Purchases with Bitcoin
Tesla CEO Elon Musk said Tesla would suspend car purchases using bitcoin, wiping off billions of dollars of value from the cryptocurrency market.
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Initial Claims Drop To Lowest Since Covid Crisis But 16.9 Million Americans Still Remain "On The Dol
Last Friday's shockingly bad payrolls report is fading into the memory following a blistering CPI report, a hot PPI and moments ago, another very strong initial jobless claims report according to which adjusted initial claims dropped to just 473,000, a decrease of 34,000 from the previous week's revised level, stronger than the 490K expected...
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McDonald's Raises Hourly Wages for Company-Owned Restaurants
McDonald's is looking to hire 10,000 workers for those restaurants over the next three months.
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US Producer Prices Surge Most On Record
After consumer prices exploded higher yesterday - and were immediately rejected by establishment types as 'transitory', despite the market's obvious disagreement - all eyes were on this morning's producer prices for signs of more pressure. Many were fearful of a repeat of last month's debacle delay (and there were rumors of a softer PPI print leaked earlier today)
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Analysis: What U.S. Inflation Signs Would Cause Fed to Change Course?
A bigger-than-expected increase in U.S. consumer prices has put investors on high alert for more signs of inflationary pressure that could tilt the Federal Reserve toward raising interest rates.
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Inflation Data Test Fed's Strategy and Outlook
Some observers say the latest inflation figures show the Fed is already at risk of falling behind. So-called core prices, which exclude volatile components such as food and energy, rose 0.9% in April from March, the fastest one-month gain since 1981, the Labor Department said Wednesday.
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China's Aging Population Will Be a 'Big Shock' to the Global Supply Chain, Says Economist
China's once-a-decade census released on Tuesday showed its mainland population grew to 1.41 billion people as of Nov. 1, 2020, the slowest growth rate since the 1950s.
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European Stocks Fall as Inflation Data Shock Hits Global Sentiment
European stocks retreated on Thursday as markets around the world were spooked by the latest U.S. inflation data.
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Home Prices Soar Most On Record As Fed Continues Bubble Blowing Policies
The Federal Reserve continued to increase its holdings of mortgage-backed securities by the tune of $40 billion per month, fueling a housing bubble with record-low mortgage rates and low inventory.
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Treasury Yields Retreat but the 10-Year Holds above 1.68%, Following Inflation Data Shock
U.S. Treasury yields retreated on Thursday morning, though the 10-year rate held above 1.68%, following a higher-than-expected inflation print.
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Coronavirus Latest
The latest news and updates on the coronavirus outbreak from CNBC’s global teams in Asia, Europe and the U.S.
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A Golden Future: Visualizing The Economic Case For The Barbarous Relic
Throughout history, people have revered gold as a sign of wealth and a store of value. Today, gold is not only a precious metal but also a precious investment.
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Gold Markets Pullback From Trendline Again
Gold markets fell during the trading session on Wednesday as the downtrend line continues to hold very resiliently. The $1850 level above there is also an area of interest.
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China’s 'Digital Yuan' and the Race for a Global Digital Currency
China’s “digital yuan” represents the natural evolution of fiat currencies. When in 1971 the U.S. government finally unpegged the dollar from the price of gold it severed the connection between “paper money” and real, hard assets. The dollar, like most other government issued currency, became worth whatever the market was willing to pay for it.
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Russia on Track to Surpass China as Largest Gold Producer
Last year, global gold production fell by 5%, while Russian companies including polymetallic miners continued expanding their operations and ramping gold output up. At this rate, Moscow is likely to outperform Beijing as the world’s top gold producer by the end of the 2020s.
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China’s Bond Defaults Pile Up at Fastest Pace on Record
Chinese corporations are defaulting on local bonds at the fastest pace on record, as authorities ramp up efforts to introduce more financial discipline and transparency in the world’s second-largest debt market...
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US Spends 90% More Than It Collects In First 7 Months Of Fiscal 2021
As a result, seven months into the fiscal year, the YTD deficit stood at a record $1.932 trillion compared to $1.481 trillion, although whether 2021 overtakes 2020 depends on if and when Biden will pass his next (of many) stimulus programs.
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