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POSTED ON July 23, 2018  - POSTED IN Key Gold Headlines

The dollar declined sharply, pushing gold up late last week as Pres. Trump criticized the Federal Reserve’s interest rate policy. Trump took aim at the Fed during an interview on CNBC, saying he’s “not thrilled” with the central bank’s push to raise rates.

Because we go up and every time you go up they want to raise rates again. I don’t really — I am not happy about it. But at the same time, I’m letting them do what they feel is best.”

Trump also blasted the European Central Bank and the Bank of China, accusing them of currency manipulation. Trump says the two banks are intentionally weakening their currency to disadvantage the US.

In his latest podcast, Peter Schiff said he thinks the president is saying all of this in order to have a place to put the blame when the economy tanks.

POSTED ON June 25, 2018  - POSTED IN Key Gold Headlines

We’ve written a lot about government debt and warning signs in the Treasuries market. The US government needs to sell over a trillion dollars in bonds a year over the next few years to finance its skyrocketing deficit. Who exactly will buy all of these government bonds remains unclear and the impact on interest rates could send shockwaves through the entire US economy.

Equally troubling, but less often discussed, are the risks piling up in the corporate bond market.

POSTED ON June 21, 2018  - POSTED IN Key Gold Headlines

It looks like we’re heading toward a full-blown trade war.

As the war continues to escalate. Pres. Trump has levied more tariffs on Chinese imports in retaliation for China’s retaliation after the US announced its first round of tariffs. A lot of people seem to think this is bullish for the dollar. In fact, the greenback has surged in recent weeks. But in his latest podcast, Peter Schiff said this is a bunch of nonsense.

POSTED ON June 19, 2018  - POSTED IN Key Gold Headlines

The Japanese and Chinese aren’t buying US Treasuries. In fact, both countries reduced their holdings in April.

According to the US Treasury Department, the Japanese disposed of $12.3 billion in US debt. Meanwhile, Chinese Treasury holdings fell by $5.8 billion.

This could be a troubling development for the US government as it scrambles to fund its massive deficits and ever-growing debt.

POSTED ON June 18, 2018  - POSTED IN Key Gold Headlines

At this point, the European Central Bank isn’t nearly as keen on raising interest rates as the Federal Reserve. The ECB announced Thursday it would likely hold its interest rate steady at zero through the summer of 2019.

“We decided to keep the key ECB interest rates unchanged and we expect them to remain at their present levels at least through the summer of 2019 and in any case for as long as necessary,” ECB President Mario Draghi said during a press conference.

As Peter Schiff pointed out in his most recent podcast, nobody expected the dovishness of the ECB and it roiled the markets. But ultimately, he thinks the Europeans will try to fight the wave of inflation that is about to engulf the planet. Meanwhile, the Fed probably won’t.

POSTED ON June 18, 2018  - POSTED IN Key Gold Headlines

Jerome Powell is like a kid playing with matches and he’s dangerously close to starting a fire he isn’t going to be able to control.

The Federal Reserve nudged interest rates up again last week. It was the seventh hike since the Fed launched the current tightening cycle in December 2015. The Fed Funds Rate (FFR) currently sits at around 2%. Although this remains historically low, it may already be near the cycle peak. That means we may be close to a major economic downturn, as indicated by analysis by GoldMoney’s Alasdair MacLeod recently published at the Mises Wire

POSTED ON June 14, 2018  - POSTED IN Key Gold Headlines

As expected, the Federal Reserve nudged rates up another .25 basis points on Wednesday. Perhaps more significantly, the Fed took a more hawkish tone than expected, signaling it would likely increase rates two more times this year for a total of four hikes. The central bank had been projecting three 2018 rate increases.

A buildup in inflation pressures was a major reason for the Fed’s more hawkish tone. According to the latest data released by the Bureau of Labor and Statistics, the Consumer Price Index (CPI) jumped by 2.8% year-over-year in May. The central bankers projected inflation will likely run above their 2% target into the near future. Analysts expect the CPI to hit 2.1% this year and run at that level through 2020.

In his latest podcast, Peter Schiff said higher inflation might be a victory for the Federal Reserve, but it will be a big loss for consumers. In fact, we are heading for a no-growth, high-inflation economy.

POSTED ON June 12, 2018  - POSTED IN Videos

World Gold Council chief market strategist John Reade recently talked to Commodity TV about the current state of the gold market and what he sees in the future.

Reade cast an optimistic tone, saying the supply and demand fundamentals point toward a healthy, growing gold market moving forward.

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