Precious metals news

Gold prices retreated as the dollar strengthened, with investors eagerly anticipating Friday's US jobs data for insights into the Federal Reserve's next move. Trading around $2,640 an ounce after a 2.7% drop last week, gold faced pressure from a stronger dollar and reduced safe-haven demand following a Middle East ceasefire. However, ongoing geopolitical tensions and expectations of potential rate cuts continue to support gold's overall bullish trend.

Gold prices rose on Friday due to a weaker dollar and geopolitical tensions, but are still set for their largest monthly decline since September 2023. The 3% drop in November is attributed to Donald Trump's election victory, which sparked a dollar rally and expectations of higher interest rates. Despite Friday's gains, gold remains on track for a 2% weekly fall, with investors now eyeing upcoming U.S. economic data for clues on future Fed rate decisions.

French Prime Minister Michel Barnier invoked Article 49.3 to push through a controversial budget bill without parliamentary approval. This move allows the social security bill to pass but exposes Barnier's government to potential no-confidence votes, which could lead to its dissolution within days.

The Federal Reserve, under Jerome Powell's leadership, is shifting from its expansive role during recent crises to a more traditional focus on interest rates and inflation control. This transition marks a return to "plain vanilla" central banking, potentially making monetary policy less dramatic but more stable. The change comes as the economy stabilizes and inflation shows signs of control, possibly reducing the Fed's prominence in economic policymaking.

As December trading began, gold and silver prices experienced downward pressure due to a strengthening U.S. dollar and rising Treasury yields. Gold futures fell 0.6% to $2,663.30 an ounce, while silver futures declined by a similar percentage. The dollar's rise, influenced by potential trade tensions and robust U.S. economic performance, is making dollar-denominated commodities more expensive for foreign buyers. Market focus remains on upcoming economic data that could influence the Federal Reserve's interest rate decisions and, consequently, precious metal prices.

Due to the excellent comments and questions from yesterday's post, I decided to do a quick update with some new important charts while discussing member comments.  The Big question I see from several members is, will the silver price fall back or below the Cost of Production...

There seems to be Big trouble taking place in the retail silver bulk market, as some premiums are the lowest in over a decade.  Silver investors who purchased silver bullion products over the past several years are finding out that when they sell metal to large online dealers, the buy-back bids are collapsing...

Consumer prices keep climbing, but gold tells a different story. See the 30-year trend that smart investors are watching.

As inflation continues to impact household budgets, US consumers are adopting extreme measures to save money during the 2024 holiday season. Shoppers are drastically cutting gift budgets, seeking out secondhand items, and starting their holiday shopping months in advance to secure the best deals. With holiday sales growth expected to slow, retailers face increased pressure as consumers prioritize essentials over discretionary spending.

Wall Street macro traders are facing their worst year since the pandemic, with revenues from foreign exchange and rates trading expected to drop significantly. Over 250 major financial institutions are projected to see a 17% decline in rates trading revenue and a 9% decrease in currency trading revenue compared to last year. This downturn is attributed to tighter margins, reduced investor confidence, and a challenging macroeconomic environment.

Gold premiums in India remained steady as price fluctuations stabilized demand. Strong demand early in the week due to lower prices was offset by a later price increase. The onset of the wedding season is expected to improve demand, while China has issued import quotas to manage gold flows.

Despite a minor increase in Eurozone inflation to 2.3% in November, the European Central Bank is still anticipated to reduce interest rates. This decision is influenced by ongoing worries about sluggish economic growth and the potential impact of new U.S. tariffs under the incoming Trump administration.

Wall Street analysts are revising their expectations for Federal Reserve interest rate cuts in 2025. While the Fed is expected to cut rates for the fourth time this year in December, economists predict a slower pace of cuts next year. Persistent inflation and solid economic growth have led to doubts about rapid rate reductions. Markets now project about two cuts in 2025, down from the Fed's earlier projection of four. Economists generally agree that the current federal funds rate is restrictive, but the extent of future cuts remains uncertain without significant improvement in inflation data.

Join us in today’s revealing update as we celebrate the things that we are grateful for. Happy Thanksgiving to everyone...

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Despite a 6% decrease in turkey prices, Americans are cutting back on Thanksgiving feasts due to ongoing concerns about food costs. Turkey production has fallen to its lowest level since 1985, yet prices are still dropping due to lackluster demand. Retailers are limiting purchases to reduce exposure, while consumers are opting for smaller quantities of turkey meat instead of whole birds.

Coffee prices have surged to their highest levels since 1977, with Arabica futures climbing to $3.17 per pound. This dramatic increase is primarily due to supply disruptions in major coffee-producing countries, particularly Brazil and Vietnam. A severe drought in Brazil earlier this year has raised concerns about the country's coffee output, while Vietnam has faced both drought during the growing season and heavy rains at the start of harvest. These supply issues are expected to impact consumers, with companies like Nestle already planning to raise prices and reduce package sizes.

In Q3 2024, the US economy expanded at a healthy 2.8% annual pace, maintaining its momentum from previous quarters. Consumer spending, which accounts for about 70% of economic activity, accelerated to 3.5%, while exports surged by 7.5%. Although business investment slowed, particularly in real estate, equipment spending increased significantly. This steady growth pattern has persisted for most of the past two years, demonstrating the economy's durability.

Gold prices climbed as the US dollar weakened, with investors awaiting key economic data that could influence the Federal Reserve's interest rate decisions. Spot gold rose 0.8% to $2,653.20 per ounce, recovering from earlier losses triggered by easing geopolitical tensions in the Middle East. Traders are focusing on upcoming US economic indicators, including the PCE inflation data, which may provide insights into the Fed's monetary policy direction.

Dive into the most eye-opening charts you’ll ever see as we uncover the hidden truths about the monetary system’s influence on prosperity.