(Mike Gleason, Money Metals News Service) Amid a grim new forecast for the national debt, precious metals markets have been volatile recently.
The gold market found support at the $2,300 level last week and has remained well above that level for days.
Turning to silver, a big move on Thursday saw...
(Mike Maharrey, Money Metals News Service) Since the Federal Reserve started raising interest rates, investors have enjoyed higher yields on cash socked away in money market accounts and bonds. Higher yields have created some headwinds for gold as well. Since gold is a non-yielding asset, many people assume they...
(Mike Maharrey, Money Metals News Service) A few weeks ago, gold sold off on news that the People’s Bank of China didn’t add any gold to its reserves in May.
At the time, I called it a “kneejerk reaction,” and said the news wasn’t “a particularly good reason to sell...
(Mike Maharrey, Money Metals News Service) Central banks have been gobbling up gold, and based on responses to the World Gold Council's 2024 Central Bank Gold Reserves Survey, their appetites for the yellow metal aren’t going to be satisfied any time soon.
Last year, central banks added a net 1,037...
(Mike Maharrey, Money Metals News Service) Indian gold demand remained strong last month despite record prices. India ranks as the world’s number two gold consumer, just behind China.
According to the World Gold Council, there is currently strong, positive consumer sentiment toward gold in India, and it is currently viewed...
(Casey Harper, The Center Square) Newly released polling data showed that a large percentage of Americans report that the recent spike in inflation is making it harder to make ends meet.
Monmouth University released a poll Wednesday showing 46% of Americans are “currently struggling to remain where they are financially.”
That figure...
(Jp Cortez, Sound Money Defense League) Author and historian Yuval Noah Harari recently commented that Bitcoin is a currency of “distrust,” emphasizing that “the preference for Bitcoin is based on distrust of human institutions.” He argues that “the whole purpose of money is to create trust between strangers,” enabling...
(Mike Maharrey, Money Metals News Service) Since mid-2021, we lived through the worst price inflation since the 1970s. CPI peaked in June 2022 at 9.1 percent.
During this inflationary period, a lot of people sold gold as evidenced by the rangebound price through most of 2023. Was selling a good...
(Mike Maharrey, Money Metals News Service) It's starting to get difficult for the most optimistic cheerleader to pretend this economy is "robust."
We got more evidence today that the American consumer is tapped out.
And that's really bad news for an economy that depends on consumers buying stuff to keep rolling...
(Molly Bruns, Headline USA) Heather Mullins, an independent journalist and Donald Trump supporter, accused an American Airlines stewardess of discriminating against her for wearing a "Make America Great Again" hat, according to the Daily Mail.
Mullins said the flight attendant skipped her drink order and responded unprofessionally when asked about it,...
(Mike Maharrey, Money Metals News Service) The Biden administration ran the biggest monthly budget deficit of the year in May as it continues to spend money hand over fist.
Federal spending overshot receipts by $347.13 billion last month, despite a 5 percent increase in revenues, according to the Monthly Treasury...
(Mike Maharrey, Money Metals News Service) On June 13, Tanzania Finance Minister Dr. Mwigulu Nchemba issued a directive in an effort to curb the widespread use of the U.S. dollar in the country.
This is just one among many body blows taken by the dollar over the last several years.
The...