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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China Slashes Lending Rates in Bold Move to Boost Economy
In an effort to stimulate economic growth, China has implemented a 25 basis point cut to its benchmark lending rates. The one-year and five-year loan prime rates have been reduced to 3.10% and 3.6% respectively, as part of a series of aggressive stimulus measures that include support for the struggling property sector and efforts to increase consumer spending.
READ MOREGold's Surge: A Warning Sign for Western Economic Dominance
The recent surge in gold prices, reaching record highs despite fluctuations in traditional influencing factors, signals a significant shift in global economic dynamics. This trend reflects growing interest from China and other countries in diversifying away from dollar dominance, exploring alternative payment systems, and responding to perceived inconsistencies in US global leadership. The west should pay closer attention to this phenomenon, as it could lead to a fragmentation of the global financial system and erode US influence.
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Our Boooollion Special is here to send shivers down your spine with incredible discounts on premium gold and silver bullion.
READ MOREGold Breaks $2,700 Barrier, Silver at 12-Year High in Market Rally
Gold and silver prices have surged to new record highs amid growing global uncertainties and increasing demand for safe-haven assets. Gold reached an all-time high of $2,736.86 per ounce, driven by factors such as the upcoming U.S. presidential election, ongoing Middle East tensions, and expectations of interest rate cuts by central banks. Silver also hit its highest level since late 2012, trading at $34.02 per ounce. Analysts predict gold prices could reach $2,900 per ounce over the next 12 months, supported by continued central bank demand and potential rate cuts by the Federal Reserve.
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Gold Breaks $2,700: A New Era Begins
With political tensions rising and inflation easing is this rally sustainable? Find out what’s next for gold.
READ MOREDebt Concerns Fuel Gold's Rise as Treasury Bond Alternative
As gold prices continue to rise, Bank of America analysts propose that it might become a safer investment option than Treasury bonds. This shift is attributed to increasing U.S. debt levels, potential post-election spending increases, and global economic challenges. While Treasury bonds have long been considered a safe haven, growing concerns about government borrowing could lead investors to view gold as the ultimate safe asset, potentially driving its price to $3,000 per ounce.
READ MORECentral Banks' Dilemma: Celebrating Too Soon on Inflation?
While inflation has decreased in many developed countries, approaching central banks' 2% targets, experts warn against premature celebration. Historical examples, like the 1970s U.S. inflation resurgence, demonstrate that inflation can unexpectedly return after periods of apparent stability. Factors such as monetary policy changes, political pressures, and external shocks can quickly reignite inflationary pressures, suggesting caution is warranted in declaring victory over inflation.
READ MOREPrecious Metal Breaks Records: Gold Futures Reach New Peak
Gold futures have reached a new record high, surpassing $2,729 per troy ounce on the New York Mercantile Exchange. The precious metal's price has increased by over 3% in the past week, driven by geopolitical tensions and economic uncertainty. Experts predict further gains, citing factors such as the weakening US dollar and global demand for a stable store of value.
READ MOREGold Shatters $2,700 Ceiling as Global Tensions Fuel Safe-Haven Rush
Gold prices surged past $2,700 per ounce for the first time, driven by safe-haven demand amid geopolitical tensions and expectations of monetary policy easing. The precious metal's rally is fueled by uncertainty surrounding the U.S. presidential elections and ongoing conflicts in the Middle East, with analysts noting strong speculative interest from Asian markets.
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Insider Alert: Mike's Making Moves
Mike Maloney has been patiently waiting on the sidelines, carefully analyzing the markets. Now, he's finally made his move.
READ MOREConsumer Spending Surge Boosts U.S. Retail Sales in September
U.S. retail sales showed a solid increase of 0.4% in September, surpassing economists' expectations of a 0.3% rise. This growth was driven by strong consumer spending in various sectors, including restaurants, clothing stores, and online purchases. The increase in retail sales suggests that the U.S. economy maintained robust growth in the third quarter, supported by solid income growth, ample savings, and strong household balance sheets.
READ MOREHong Kong Races to Boost Gold Trading Prowess Amid Regional Rivalry
Hong Kong's Chief Executive John Lee has called for urgent action to strengthen the city's position as a global gold trading center, citing competition from Singapore's recent launch of a 500-tonne gold vault. Lee emphasized the need to build up Hong Kong's gold and commodity trading market from its current "low base" to transform it into a "game-changer" for the economy.
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30 Sec To Midnight: "Stock Insiders Are Selling, I'm Buying SILVER" | Mike Maloney
In this urgent “30 Seconds To Midnight” update, Mike Maloney breaks down why we’re on the brink of the biggest financial collapse in history
READ MOREECB Rate Cut Looms: Markets Seek Clues on Future Policy Path
The European Central Bank is poised to cut interest rates for the third time this year, with markets expecting a 0.25% reduction. While this move is largely anticipated, investors are keen to understand the ECB's future policy direction. The euro has already weakened against the dollar, and the ECB's tone could further influence its trajectory. Simultaneously, global markets are watching other economic indicators, including TSMC's earnings and U.S. retail sales data.
READ MOREChina's Property Sector Stimulus Falls Flat as Markets Seek Stronger Measures
China's government has announced plans to increase loans for unfinished residential projects to 4 trillion yuan ($562 billion) by year-end, but this fell short of market expectations. The measure, part of a broader package to support the struggling property sector, failed to impress investors, leading to a decline in property stocks. While officials expressed confidence in stabilizing the real estate market, analysts view the policies as incremental and insufficient to address the sector's deep-rooted issues.
READ MORELBMA Conference: Gold Price Set to Soar to $2,941 in Coming Year
At the LBMA conference in Miami, delegates projected a 10.5% increase in gold prices over the next 12 months, alongside substantial gains for silver, platinum, and palladium. These predictions come amid a strong year for precious metals, with gold and silver already up 29% and 32% respectively in 2024, driven by factors such as Federal Reserve rate cuts and geopolitical tensions.
READ MOREBostic's Cautious Outlook: Atlanta Fed Chief Projects One More Rate Cut in 2024
Atlanta Fed President Raphael Bostic revealed that he projected one additional 25 basis point rate cut for 2024 in his recent Federal Reserve meeting forecast. This is less than the median projection of 50 basis points in further cuts. However, Bostic emphasized that his outlook remains flexible and will be adjusted based on incoming economic data, particularly regarding inflation and employment.
READ MOREIndia's Import Bill Shrinks, Narrowing September Trade Gap
In September 2024, India's trade balance showed signs of improvement as the deficit narrowed to $20.78 billion, lower than economists' expectations of $24.63 billion. This positive shift was largely attributed to reduced gold imports, which helped moderate the overall import bill. Despite global economic challenges, India's exports maintained a slight growth, with sectors like engineering goods, plastics, and pharmaceuticals performing well.
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Surviving the Crash of 1929: How Gold Stocks Defied the Great Depression
Ninety-four years ago, the optimism and prosperity of the 'Roaring Twenties' ended abruptly with the Crash of 1929...
READ MOREElection Uncertainty Propels Gold to New Heights
Gold prices are rising towards new record highs as investors focus on the upcoming U.S. presidential election and potential Federal Reserve rate cuts. The precious metal's appeal as a safe-haven asset, combined with strong central bank buying, has driven its performance in 2024. Uncertainty surrounding the election outcome and potential policy changes are prompting investors to adjust their portfolios, further supporting gold's rally.
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