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'We're in untested waters' with inflation and the real winners are hard assets like gold – former JPMorgan MD
Economies worldwide are in "untested waters" with explosive monetary and fiscal stimulus testing the limits of global financial stability, said Jon Deane, ex-JPMorgan MD and now CEO of Trovio.
It is all about the massive policy response deployed to fight the COVID-19 crisis.
"We're in untested waters. It's a scenario that hasn't played out before," Deane told Kitco News. "After every major economic crisis that we've had, we've adjusted our economic thesis — how we approach markets from a central bank perspective and how we manage economies going forward," Deane pointed out. Read More
Gold and silver are flat leading into the European open
Gold and silver are trading flat this morning leading into the European open. Gold is still hanging on to the $1800/oz level while silver is just below $25/oz. In the rest of the commodities complex, copper has dropped 0.69% while spot WTI (0.72%) continues to consolidate after the large fall on Monday. Read More
Goldman Sachs is looking for $2K for Gold
In their latest research note on gold Goldman Sachs is now looking for $2000/oz for gold. The report notes "commodities to rebound sharply unless there are widespread lockdowns due to the spreading delta mutant coronavirus." In terms of the timeframe, the updated "forecast gold at $2,000/oz in 3, 6 and 12-month horizons.". Read More
Silver technical analysis - Support levels are close
Silver has been moving lower in recent sessions and the main triangle pattern on the chart has broken to the downside. The question technical analysts are asking is where could the price find support next. Read More
Hyperinflation threat is no joke; U.S. could become Weimar Republic - ShadowStats' John Williams
John Williams, founder of ShadowStats, discusses with David Lin, anchor for Kitco News, why the U.S. is headed towards hyperinflation.
Williams, who calculates the inflation rate using methodology the U.S. government used in the 1980s before revisions, estimated that the current rate of inflation is already 13.5 %, much higher than the 5.4% that the Bureau of Labor Statistics reported for June. Read More
Gold price weaker as bulls seek catalyst
Gold prices are lower in early U.S. trading Wednesday, amid a lack of fresh bullish market news that is causing prices to drift sideways. Bulls need a fundamental spark to jumpstart a price uptrend on the daily chart that is in trouble at present. Silver prices have rebounded a bit after overnight hitting a more-than-three-month low. Silver this week has seen chart damage inflicted. August gold futures were last down $8.50 at $1,802.80 and September Comex silver was last up $0.165 at $25.16 an ounce. Read More
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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.
