x
Record inflation levels are coming with no growth, 'the worst of all worlds' - Steve Hanke
Inflation in the U.S. will climb to between 6% and 9% by year-end, said Steve Hanke, professor of Applied Economics.
Speaking to David Lin, anchor for Kitco News, Hanke, who has served on Ronald Reagan’s Council of Economic Advisors, said that the rapid growth of the money supply last year has “worked like a charm” in boosting the economy and in turn, fueling growth in asset prices.
Hanke’s comments come as headline inflation in June reached 5.4% year-on-year, the highest on record since 2008.
He noted that the rise in inflation in 2021 has been caused “100%” by the growth of the money supply. Read More
Video - Record inflation levels are coming with no growth, 'the worst of all worlds' - Steve Hanke
Gold and silver move lower leading into the European open
Gold and silver are starting the week on the soft side after falling during the Asia Pac session. The yellow metal trades -0.29% lower at $1805/oz while silver has lost just over 1%. In the rest of the commodities complex, copper continues to trade sideways after falling another -0.50% and spot WTI is also down -0.48%. Read More
The gold price is heading to an important technical zone
Gold has been heavy this morning and the price is moving in on a confluence of levels that are below the $1800/oz area. The price looked weak at the end of last week and in the Asian session, the price moved around half a percent lower.
At around $1780/oz, this is the volume point of control. This represents the price on the chart where most contracts have changed hands. This kind of area often ends up being a sticking point for the price and it could be an important support. Read More
Price pressure on gold, silver as greenback gains, crude oil drops
Gold and silver prices are lower in early U.S. trading Monday, with silver prices hitting a three-month low. Bearish daily postures for the key outside markets have the metals bulls standing on the sidelines to start the trading week, as crude oil prices are sharply lower and the U.S. dollar index is higher. August gold futures were last down $11.90 at $1,803.10 and September Comex silver was last down $0.45 at $25.35 an ounce. Read More
Kinesis is excited to announce the historic launch of the Kinesis yield engine.
In a monumental step forward for the Kinesis Monetary system, we are delighted to announce that the Kinesis yield engine is now online.
The yield engine launch represents a historic moment for both Kinesis and the precious metals industry as a whole, offering a yield on precious metals for the first time in economic history. Read More
Check out Kinesis - The Revolutionary Gold and Silver Monetary System on the Blockchain: based 1:1 on allocated gold and silver, providing users with a stable store of value. One that rewards you every month, allowing you to send, spend and trade in digital gold and silver.
.png)
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or other advice.
