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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Pending Home Sales Unexpectedly Plunge In January - Lowest Since July
After sliding for four straight months, analysts expected pending home sales to flatline in January (despite bounces in new- and existing-home sales). But, amid a collapse in mortgage applications (and jump in mortgage rates), pending home sales tumbled 2.8% MoM to the lowest level since July...
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Fed's Digital Dollar Would Look Nothing Like Bitcoin: Bloomberg
Fedcoin wouldn't need the massive computations of cryptocurrencies, but it would effectively nationalize the payment industry, competing with banks, credit cards and Venmo.
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Gold Falls 1% as Elevated U.S. Yields Hit Safe Haven Appeal
“But, there are chances that once the market prices in all the positive factors driving riskier assets, and they start consolidating, gold might emerge back and hit the $2,000 level again this year.”
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Q4 GDP Revised To 4.1%, Missing Expectations
Of course, for markets none of this matters as the only thing traders care about is how strong the Q1 rebound will be... and how big of an inflationary tide will Biden's trillions unleash.
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US Durable Goods Orders Surge In January To Pre-COVID Highs
Having slowed for 3 straight months, analysts expected US durable goods orders to re-accelerate and they were not wrong as preliminary January data showed a huge 3.4% MoM jump (more than triple the +1.1% MoM expected).
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U.S. Weekly Jobless Claims Total 730,000, vs 845,000 Estimate
Jobless Claims Show Sharp Drop Last Week Though Labor Market Remains Challenged.
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GOP Rallies Solidly against Democrats' Virus Relief Package
Republicans rallied solidly Wednesday against Democrats' proposed $1.9 trillion COVID-19 relief bill as lawmakers awaited a decision by the Senate's parliamentarian that could...
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Global Bond Rout Puts Australia’s Central Bank on Front Line
Bond traders keep probing the limits of central banks’ patience, and nowhere is that clearer than in Australia, where policy makers are struggling to defend their yield target. The Reserve Bank of Australia bought A$5 billion ($4 billion) of bonds Thursday, matching the record last March when it began quantitative easing. ..
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ECB Soothsaying Does Little for Bonds Caught in Global Rout
The European Central Bank’s pledges to fight back against unwarranted increases in bond yields are falling on deaf ears among investors. A selloff in bonds, which pushes up yields, was stemmed only temporarily on Thursday when ECB chief economist Philip Lane said officials will use the flexibility of their emergency bond-buying program to prevent any undue...
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U.S. Senators Weigh Paring Back Biden's $1.9 Trillion COVID-19 Aid Plan
U.S. senators on Wednesday were eyeing potentially significant cuts to President Joe Biden's $1.9 trillion COVID-19 relief bill as they awaited a ruling on whether the measure can include raising the federal minimum wage to $15 an hour.
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The Wealthy Are Borrowing Billions Against Their Art Collections and Lenders Are Reselling the Debt
The move to borrow against collections creates the risk of a leveraged boom and bust in the art market.
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US Bonds Treasury Yields Rise Ahead of Fourth Quarter GDP
The 10-year U.S. Treasury yield topped the 1.45% level on Thursday morning, its highest level in more than a year.
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COVID Vaccine Passports Are Being Considered. And Health Experts, Rights Groups Are Deeply Concernd
Public health officials and civil liberty organizations are urging policymakers to resist calls for coronavirus vaccine passports, at a time when many countries are in the process of reviewing whether to introduce digital passes.
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Travel Restrictions Have No End in Sight as European Leaders Worry About New Variants
European leaders will say on Thursday that all non-essential travel needs to remain restricted as the health situation remains "serious".
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Covid Live Updates: CNBC
The U.S. is recording at least 72,200 new Covid-19 cases and at least 2,150 virus-related deaths each day, based on a seven-day average of JHU data.
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Gold Is One of the Few Assets That’s Not at a Record High
The average company in the S&P 500 carries a Price/Earnings ratio of nearly 40 right now, nearly 3x the long-term median. It’s only been higher just prior to the dot-com crash, and the Global Financial Crisis in 2008/2009.
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Goldman-Backed ReNew Power Agrees To Merge With RMG II SPAC
ReNew Power, India’s biggest renewable power producer, has agreed to merge with blank-check company RMG Acquisition Corp. II. The deal will give Goldman Sachs Group Inc.-backed ReNew an enterprise value of $8 billion...
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Anatomy of a Bubble and Crash
Needless to say, few are expecting bubble symmetry to manifest now, because, well, of course, "this time it's different." Indeed. It's always different and yet always the same, too.
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JPMorgan’s Blockchain Payments Test Is Literally Out of This World
JPMorgan Chase & Co has recently tested blockchain payments between satellites orbiting the earth, executives at the bank told Reuters, showing that digital devices could use the technology behind virtual currencies for transactions.
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The Economics and Ethics of Government Default, Part I
Introduction The problem of government deficit spending and the resulting public debt is a challenge to most modern economies.
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