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We’re now the-thirds of the way through the second quarter, and GDPNow, which is measured by the Federal Reserve Bank of Atlanta, shows a GDP growth of only 1.3%, versus a 3.2% growth in the first quarter.
Primarily because of the strength of the dollar relative to other currencies, gold has been stuck in the $1275 for the past month. In the other major currencies, gold has risen as those currencies have fallen against the dollar.
Because of Germany’s weakening export driven economy and because German bonds are preferred by the European Central Bank, yields on the country’s 10-year bonds recently went negative. Consequently, European bond investors, primarily made up of banks and insurers that depend on income, have turned to US Treasuries. This has resulted in upward pressure on the
The World Gold Council likes to emphasize central bank gold buying. However, central banks are not the main drivers of gold demand. Individuals are.
Supposedly, the White House is about to promise a balanced budget by 2034. I’ve been down that road many times in my 45 years of monitoring federal budgets, and it never happens. Making this promise even more ridiculous is that it is based on a projected GDP growth of 3% for the next 15 years.
Want a reliable indicator of where the economy is headed? Look no further than the chart below.
Currently there is much speculation about whether the Fed will continue quantitative tightening or return to quantitative easing. In 2018, newly appointed Fed Chair Jay Powell indicated that 2019 would see four rate hikes. However, he has since backed off on that forecast.
Longest bull market in stocks set to end as malinvestments surface because of massive money creation by world’s central banks.
“If you asked me to look across the commodity landscape and pick what I liked best, it would be gold. Literally, just this morning I saw that central banks are buying lots of gold. Sam Zell is buying lots of gold. You can try to fade this (bet against it) if you want, but it’s
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
