In November 2016, Forbes magazine (commonly known as “Forbes”) published an article titled “Four Reasons Why Gold Is A Bad Investment.” Despite being a business magazine with a stellar reputation, established 1917, they really missed the boat with this article.
In June, gold-backed ETFs recorded their seventh consecutive month of positive flows, adding 104 tons – equivalent to US $5.6 billion or 2.7% of assets under management. This brought 1st half global net inflows to 734 tons, significantly above the highest level of annual inflows, both in tonnage terms (646 tons in 2009) and US-dollar
No wonder investors are apprehensive about buying gold. Consider this headline on MarketWatch this morning: Gold struggles for direction after highest highest (sic) finish in nearly 8 years Gold is up $700 from its 2015 low of $1063. Yet, this writer asserts that “gold struggles for direction.” With gold’s price action over the last five
The government’s reaction to the coronavirus has caused financial problems of monumental proportions. With the shutdown of businesses and massive layoffs, states and municipalities suffered huge losses in revenue. Two-thirds of state revenues come from income taxes or sales taxes.
Over the past fifty years, if you lived in India, South Africa, China , or Turkey, there was not a single decade you lost money owing gold five decades in a row!
Back on March 16, a report by Imperial College London forecast 2.2 million Americans would die from the coronavirus and that 81% of the U.S. population would be infected. Consequently, Trump and his team of experts, namely Dr. Anthony Fauci and Dr. Deborah Birx, began holding daily press conferences and quickly scared the daylights out
This past Sunday, Scott Pelley interviewed Fed Chairman Jerome Powell on 60 Minutes. Below are some excerpts. PELLEY: Fair to say you simply flooded the system with money? POWELL: Yes. We did. That’s another way to think about it. We did.
House Speaker Nancy Pelosi unveiled a more than $3 trillion coronavirus aid package Tuesday, which would be the fifth this year. The House is expected to vote on it Friday, but Senate Majority Leader Mitch McConnell says there is no “urgency.” The package is an 1,800-page document, which offers something for everyone.
Buying the dips have made a lot of stock investors money since 2009. And today, a lot of stock investors continue to buy the dips. However, Paul Singer’s Elliott Management says that stocks could drop further, down to half of their February highs. Other analysts forecast the deepest economic decline since the Great Depression.
Goldman Sachs forecasts a federal deficit of $3.6 trillion for the current fiscal year. Last year’s deficit was a mere $984 billion, for a 3.6- fold increase. Fedgov’s fiscal year ends September 30.