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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The US Recession and What It Means for Gold
The financial markets have long anticipated a US recession. The US yield curve is clearly inverted, which indicates that long-term interest rates are lower than short-term ones. That often indicates that a recession is on the horizon sooner or later.
READ MOREUS Core Durable Goods Order Growth Weakest In 2 Years, Aircraft Orders Surge
Following November's unexpected collapse, analysts expected a big rebound in US durable goods orders in preliminary December data (despite Manufacturing survey data dismally deep in contraction). They were right but the scale of the rebound was almost unprecedented as Durable Goods New Orders roared 5.6% MoM (more than double the +2.5% expected)
READ MOREPowell Perplexed: Initial Jobless Claims Plunge To 9-Month Lows
Following last week's unexpected plunge in initial and continuing claims - despite numerous layoff announcements - analysts expected a small rebound this week but they were wrong as the number of American filing for unemployment benefits for the first time tumbled to 186k (205k exp). Unadjusted claims crashed back to earth...
READ MOREStrong U.S. Economic Growth Expected in Fourth Quarter, Outlook Darkening
The U.S. economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the end of the year, with higher interest rates eroding demand.
READ MOREThey Finally Figured Out How to Lower Inflation!: Sovereign Research
We all know that inflation has been well above the Federal Reserve’s target rate of 2% for nearly two years now. It peaked at over 9% last June and has remained stubbornly high since then.
READ MOREU.S. Inflation Roller Coaster Prompts Fresh Look at Long-Ignored Money Supply
The amount of money sloshing around the U.S. economy shrank last year for the first time on record, a development that some economists believe bolsters the case for U.S. inflation pressures continuing to abate.
READ MOREThe European Central Bank Says It’ll ‘Stay the Course’ on Rate Hikes. But Not Clear for How Long
European Central Bank President Christine Lagarde has repeatedly used the phrase "staying the course" when referring to upcoming rate decisions, but some market watchers doubt the bank will keep its hawkish stance for much longer.
READ MOREIMF Warns of Market Impact of Abrupt Bank of Japan Policy Change: FT
The IMF has warned that an abrupt change in Japan’s ultra-loose monetary regime would have “meaningful spillover” effects on global financial markets, underscoring the need for the Bank of Japan to clearly communicate about its future policy.
READ MORE‘No Margin for Error’: Bank of Japan’s Next Governor Faces Daunting Challenge
Your reluctance is understandable. After a decade of “unprecedented” ultra-loose monetary policy, the next BoJ chief faces the daunting challenge of steering Asia’s most advanced economy towards normalizing interest rates. If they fail, the consequences could be profound: a return to deflation and a sharp economic slowdown; turmoil in global stock, bond and currency markets; and a collapse in the Bank of Japan’s credibility.
READ MOREBoJ’s Bond Purchases Lead to Some Being Thrown Out of Key Index
The Bank of Japan is facing a fresh headache in the dysfunctional local bond market — it has become so illiquid that some securities are being kicked out of an important global index.
READ MORESplits Emerge as U.S. House Republicans Demand Biden Negotiate on Debt Limit
Republicans who control the U.S. House of Representatives are divided over how hard a line to take on the debt ceiling, but were united on Wednesday in demanding that Democratic President Joe Biden agree to negotiate on spending as part of any deal.
READ MOREIs a US Recession Near? Making the Call Is Trickier Than Ever: Bloomberg
Traditional economic indicators can’t predict the timing of a downturn, but newer forecasting methods are untested.
READ MOREWall Street Heavyweights Warn of Pain Ahead Despite Market’s Recent Reprieve
Some of Wall Street’s biggest names are throwing cold water on expectations that the U.S. economy will scrape through 2023 without a recession, even as hopes of easing inflation and resilient growth propel stocks higher.
READ MOREGlobal Markets-Hopes of Slowdown in Rate Hikes Bolster Shares Ahead of U.S. GDP
Stocks firmed on Thursday as investors bet that central banks meeting next week will signal a slowdown or even a pause in interest rate hikes for later in the year to make recession less likely and ease pressure on corporate earnings. Oil prices were steady after U.S. crude stocks rose less than expected, while gold hit a 9-month peak. The dollar wobbled near an eight-month low...
READ MOREGold Rises on Weaker U.S. Dollar
Gold has risen for five trading sessions in a row, the longest streak of gains since August. Gold has risen nearly 6 percent since the start of 2023, finding support from signs of waning U.S. inflation and expectations for an economic recession.
READ MOREBuoyant Gold Reaches Resistance Levels, but Underpinned by Central Banks
Central bank purchases, the year of the rabbit celebrations and minor US dollar weakness have spurred gold to US$1936. But after a heady appreciation of 19 per cent since the November 2022 lows, the bullion price is now meeting resistance. A US dollar dive, worsening wars in Ukraine or Middle East are needed for gold …
READ MOREGold Is Expected to Rally Further: Credit Suisse
Os Tuesday, Gold XAU/USD registered its highest daily close since April. Strategists at Credit Suisse expect the yellow metal to enjoy further gains.
READ MOREGold Hits All-Time High in India
Gold touched an all-time high of ₹57,000 per 10 gm on Tuesday, which is ₹800 more than in August 2020 when the rate had peaked at ₹56,200 per 10 gm during the covid pandemic.
READ MOREGold Prices Hit Record High in Japan
Prices of gold, regarded as a safe-haven asset, hit a record high in Japan on Wednesday amid growing concerns over inflation and recession around the world.
READ MOREGold’s Breakout: It’s Not the Inflation: Rickards
While demand for gold is accelerating, total global production of gold has been flat for the past six years. That combination of flat output and increasing demand will put upward pressure on gold prices and act as a de facto floor under gold. Central banks tend to be opportunistic buyers and will definitely buy if any dips emerge.
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