In September, when gold was trading in the $1200 range, Morgan Stanley, a major Wall Street investment house, predicted $1300 gold by year end. It’s now year-end, and gold did not hit $1300; however, it did climb to $1280, making the forecast a really good one. Two developments that Morgan Stanley thought could send gold
China’s economy has been in decline most of this decade, and President Trump’s tariffs on China’s exports of goods to the US worsens China’s woes. It’s stock market is down some 30% this year. China’s leaders are embracing standard Keynesian moves to ameliorate the situation, starting first with easier credit and expanded tax cuts. Basically,
With Wednesday’s increase in the fed funds rate to the 2.25% – 2.5% level, Jay Powell, Fed chairman, challenged President Trump to a game of chicken. Already Powell looks weak. In his press conference after announcing the rate increase, Powell backed off three rate increases forecast for 2019 to two and included in his statement
Gold pushed at $1240 today (spot market) as the Dow Jones Industrials were down 800 points in early trading after closing down 800 points Tuesday. Stock markets were closed Wednesday in honor of President George H. W. Bush’s passing.