“The brains of humans and other animals contain a mechanism designed to give priority to bad news,” former Nobel Prize-winning economist Daniel Kahneman once said.
For Brits, this mechanism has been taking a beating in recent months.
The Bank of England this week added to its emergency rescue package for British pension funds, while the government brought forward its medium-term fisca... read more
Gold and silver prices are solidly lower in early U.S. trading Tuesday following a surprisingly hotter-than-expected inflation report that reinforces notions the Federal Reserve will keep its aggressive monetary policy tightening stance. October gold was last down $20.10 at $1,710.90 and December silver was down $0.22 at $19.63.
The August consumer price index was reported up 8.3%, year-on-... read more
Gold and silver prices are higher in early U.S. trading Friday, lifted by a sharp overnight drop in the U.S. dollar index. The USDX has come well off its overnight low and that has dropped the two precious metals from their overnight highs. More short covering in the futures markets heading into the weekend is featured in both metals. October gold was last up $11.90 at $1,722.50 and December s... read more
Gold and silver prices are lower in midday U.S. trading Thursday, with gold hitting a six-week low and dropping below the key $1,700 level. Silver today scored a more-than-two-year low. Falling crude oil prices, a strong U.S. dollar index and rising U.S. Treasury yields are all bearish elements punishing the metals markets bulls. October gold futures were last down $18.80 at $1,698.10. Septembe... read more
The gold market is holding on to gains above $1,750 as the U.S. manufacturing and service sector are losing more momentum the expected in August. Tuesday, the S&P Global Flash U.S. Composite PMI said that preliminary manufacturing PMI data fell to 51.3, down from July’s reading of 52.2. The data was weaker than expected; according to consensus estimates, economists were looking for a reading... read more
Russia is proposing its own international standard for precious metals after getting banned by the London Bullion Market Association (LBMA). And it could have a fixed price in national currencies.
The country’s Finance Ministry said it is “critical” to create the new Moscow World Standard (MWS) to “normalize the functioning of the precious metals industry” and have an alternative t... read more
Gold rallied after inflation in the U.S. cooled slightly in July, coming in at 8.5%, which is still close to its highest annual rate in four decades.
The U.S. Consumer Price Index (CPI) came in at 8.5% in July and was lower than the market expectation of 8.7%. The most recent data follows June's 9.1% annual gain.
On a monthly basis, the headline number was unchanged from last month follow... read more
Gold and silver prices are higher in early U.S. trading Monday, as traders are eyeing the bullish daily aspects of a weaker U.S. dollar index and falling U.S. Treasury bond yields to start the trading week. October gold futures were last up $8.70 at $1,788.90. September Comex silver futures were last up $0.418 at $20.255 an ounce.
Global stock markets were mixed to slightly up overnight. U.... read more
TAIPEI, Aug 5 (Reuters) - China announced on Friday it was halting dialogue with the United States in a number of areas, including between theater-level military commanders and on climate talks, in an escalating furore over House Speaker Nancy Pelosi's visit to Taiwan.
China's foreign ministry said it was also suspending cooperation with Washington on prevention of cross-border crime and dru... read more
The conventional wisdom at this time is that most of the world has moved on from the pandemic (except for China); therefore, supply chains will return to “normal.” Unfortunately, this is not the case. The world has permanently changed and supply chains are going to face continuing challenges for decades to come. Among those challenges are:
Supply chains will remain under constant threat... read more
