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.
Subscribe
Gold Moves Back Closer to $1,800
Gold climbed to a fresh daily high, around the $1,795-96 region heading into the European session, though lacked any follow-through and remained well within a one-week-old trading range.
READ MORE
Reduce Expectations of Government
Inflation was an unwelcome guest at this year’s Thanksgiving gatherings. According to the Farm Bureau, a traditional Thanksgiving meal cost 14 percent more in 2021 than the same meal cost in 2020. Many families went without certain Thanksgiving favorites — or limited their guests — to reduce costs in hopes of saving Christmas from the Grinches at the Federal Reserve.
READ MORE
Omicron Variant May Raise Inflation Rate Risk For U.S. Economy, Stock Market
The inflation rate, already at a 30-year peak, may rise further in the near term amid supply-chain backups, high energy prices and surging rents. But the biggest reason for concern about inflation’s impact on the U.S. economy and stock market through 2022...
READ MORE
German Negotiated Wages Barely Grew in Third Quarter Despite Rising Inflation
Negotiated wages in Germany barely grew in the third quarter despite soaring inflation, leaving consumers with less money in their wallets which could hurt future household spending in Europe's largest economy, data showed on Tuesday. The Federal Statistics Office said agreed wages of unionised employees rose by an average of 0.9% year-on-year from July to September.
READ MORE
FTC Orders Walmart, Amazon, Kroger and More to Turn Over Information on Empty Shelves, High Prices
The FTC is ordering Walmart, Amazon, Kroger “to turn over information to help study causes of empty shelves and sky-high prices" for an investigation.
READ MORE
Treasuries Keep a Grip on Gains as Omicron May Delay Fed Hikes
Treasury yields fluctuated close to Friday’s lows as investors stood by bets the Federal Reserve will think twice about hiking interest rates amid concern over the impact of the omicron variant on the recovery.
READ MORE
Biden Is Growing Increasingly Desperate To Curb Gasoline Prices | OilPrice.com
U.S. President Joe Biden is taking a lot of heat due to rising gasoline prices, but is there anything he can actually do to put the brakes on this runaway train?
READ MORE
Japanese Steel Giant Is Set to Hike Prices for Carmakers
Japan’s top steelmaker said it’s close to securing price hikes from domestic manufacturing giants, signaling the balance of power is shifting from buyers to sellers as the alloy’s price surges.
READ MORE
Euro-Area Inflation Tops All Forecasts With Record 4.9%
Euro-area inflation surged to a record for the era of the single currency and exceeded all forecasts, adding to the European Central Bank’s challenge before a crucial meeting next month on the future of monetary stimulus.
READ MORE
NY Fed Launches Fintech Research Wing With Bank for International Settlements Help
The Federal Reserve Bank of New York launched the New York Innovation Center (NYIC) to build and test new financial technology, including central bank digital currencies (CBDC), stablecoins and cross-border payments, the central bank division announced Monday. The NYIC is the result of a strategic partnership between the New York Fed and the Bank for International Settlements’ (BIS) Innovation Center.
READ MORE
Fed's Powell Says New Innovation Hub Will Help Central Bank Improve Payments
The center, in partnership with the Bank for International Settlements (BIS) Innovation Hub, will help the central bank improve the current payments system, Fed Chair Jerome Powell said in remarks prepared for a virtual event on Monday. “In particular, the partnership will support our analysis of digital currencies—including central bank digital currencies,” said Powell...
READ MORE
Stock Futures Fall, Travel Stocks Drop as Omicron Concerns Resurge
Stock futures dropped on Tuesday as volatility resumed after a brief rebound earlier this week, with investors contemplating the impacts of a new coronavirus variant.
READ MORE
Fed Chair Powell Swings Dovish, Blames Omicron Uncertainty
Interesting timing for a dovish shift... just as we expected. How long before QE is un-tapered?
READ MORE
The Monetary Tipping Point – Why Inflation Will Not Be Transitory: Ronald Stoferle
It is a great pleasure to present Ronald Stöferle's Key Note Speech from this year's German gold show. Under the title "The monetary tipping point" he presents his plea for permanent and not temporary inflation, the fundamental factors for the bull market in gold and mines as well as an outlook for the gold price.
READ MORE
Rare Silver Coin Minted in Colonial New England Sells for $350,000
One of the first coins minted in Colonial New England, which was recently found among other coins in a candy tin, has sold at auction for more than $350,000, more than it was expected to get, the auctioneer said Friday. The one shilling silver coin made in Boston in 1652 — considered the finest example of just a few dozen such coins known to still exist ...
READ MORE
Why Governments Hate Gold
Do governments hate gold? The answer: Yes — Governments hate gold because they cannot print it, and it is difficult for them to control.
READ MORE
Why Inflation Is a Runaway Freight Train
Inflation, deflation, stagflation--they've all got proponents. But who's going to be right? The difficulty here is that supply and demand are dynamic and so there are always things going up in price that haven't changed materially (and are therefore not worth the higher cost) and other things dropping in price even though they haven't changed materially.
READ MORE
The End of Free Money
Surging inflation across the European Union should be a clear signal to policymakers and central bankers that the time to stop financing public-debt binges was yesterday. Most likely, the continent is heading into a period of stubborn inflation that will be familiar to anyone who lived through the 1970s.
READ MORE
The End of the Economic Consensus
Whereas the shock of the COVID-19 pandemic initially prompted unity and convergence in Europe, the current phase of the crisis is much more delicate economically and politically. If mismanaged, it may reopen old wounds and shatter policymakers’ newly acquired legitimacy.
READ MORE
Congress Hopes to Avoid a Government Shutdown as Friday Deadline Approaches
Washington and Wall Street were optimistic Monday that Congress can pass a bill to fund the government and avert a partial shutdown before a Friday deadline.
READ MORE