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Silver Price Analysis: XAG/USD bears can ignore latest bounce to 100-day SMA
BySirhcSilver struggles to keep week-start gap-up but snaps three-day losing streak. Bearish MACD, downbeat RSI joins sustained break of yearly support line, now resistance, to favor silver sellers. Yearly low, 200-day SMA will be a tough nut to crack for bears. Silver prices waver around $25.40, fading the initial run-up to $25.56, during Monday’s Asian…
The dollar could weaken further under a Biden administration, analysts say
BySirhcKEY POINTS Citi Private Bank strategists predicted a weaker dollar ahead, given that a Biden administration would reduce uncertainty in international trade policy. Following projections over the weekend that Joe Biden has won the U.S. presidential election, the dollar continued diving sharply, while Asian currencies strengthened. JPMorgan Private Bank’s Adam Margolis said the theme at…
Multiple Texas Bills Look to Challenge Fiat Currency
ByDeanTwo Texas bills filed by state Rep. Mark Dorazio, HB1049 and HB1056, propose creating gold and silver-backed transactional currencies as legal tender in the state. These bills would require the Texas Comptroller to issue these currencies through the Texas Bullion Depository, ensuring full backing by gold and silver. The bills aim to offer an alternative…
Liquidity Scramble: Fed Announces Overnight Repos Every Day Next Week, Introduces Term Repos
BySirhcCourtesy of ZeroHedge by Tyler Durden Yesterday we reported that Goldman now expects the Fed to restart Permanent Open Market Operations, i.e., bond purchases, i.e., QE some time in November. For those who missed it, Goldman assumes a roughly $15bn/month rate of permanent OMOs, “enough to support trend growth of the balance sheet plus some additional padding…
Australia’s sovereign wealth fund buys gold, commodities as shadow of 1970s looms
BySirhcSource: By Lewis Jackson SYDNEY (Reuters) Australia’s A$200 billion ($134.28 billion) sovereign wealth fund is increasing exposure to gold, commodities, private equity and infrastructure as it warns the future will echo the low-growth, high-inflation era of the 1970s. By Lewis Jackson SYDNEY (Reuters) – Australia’s A$200 billion ($134.28 billion) sovereign wealth fund is increasing exposure…
Wall Street’s ‘fear gauge’ is sounding an alarm
BySirhcCourtesy of Bloomberg By Luke Kawa June 11, 2019 — 7.17am Remain vigilant. That’s the apparent message the Cboe Volatility Index is flashing, even as cash equities race toward records. The VIX Index – often referred to as the market’s “fear gauge” – is up over the past three sessions, as of 1:40 pm. in New…