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Gold may eclipse dollar as reserve currency after outsize coronavirus spending: Goldman Sachs
BySirhcThe U.S. dollar’s longstanding status as the world’s reserve currency is at risk after the greenback’s weakening by unprecedented government efforts to shore up the economy during the COVID-19 pandemic, according to Goldman Sachs Group Inc. Ballooning federal debt levels and a potential shift in favor of inflation at the Federal Reserve amid increased geopolitical hostilities, domestic unrest and an onslaught of new…
Hard assets hit new highs
BySirhcThe slump in the US dollar is beginning to accelerate. The gold price leapt to a new all-time high in early trading on Monday 27 July, with silver and bitcoin also seeing strong price rises. Gold hit a new record price of $1940 per troy ounce in Asian trading, exceeding the previous all-time high of…
The BIS Issues A Dire Warning: “We Are Moving From The Liquidity To The Solvency Phase Of The Crisis”
BySirhcby Tyler Durden Tue, 12/08/2020 – 05:45 There are three certainties in life: death, taxes and the BIS – the central banks’ central bank – warning about excesses from monetary policy (the most recent amusing example of this was last October when as we wrote, “Fed Announces QE4 One Day After BIS Warns QE Has Broken…
Gold can overcome near-term headwinds
BySirhcSource: UBS CIO Daily Updates by Chief Investment Office08 Jun 20233 min read Thought of the day The price of gold has remained under pressure following the stronger US employment report supporting expectations that the Federal Reserve will “skip” rather than ending hikes at its policy meeting next week. The potential for higher rates over coming months,…
PRECIOUS-Gold sets sights on $1,900/oz mark as haven flows gather steam
BySirhc* Gold up more than 4% so far this week * Silver slips, but headed for best week in over three decades * Dollar index near two-year low, equities retreat (Recasts, adds comments, updates prices) By Eileen Soreng July 24 (Reuters) – Gold resumed its march toward $1,900 on Friday as an escalation in the…
Gold, Stocks, & Bond Yields Surge As Dollar Purge Continues
BySirhcby Tyler Durden Tue, 12/01/2020 – 16:00 Since the election, and the ongoing roll out of Biden’s nominees for economic and policy teams, the dollar has been on a one-way streak lower… The dollar is unchanged versus its fiat peers since Jan 2015… And it appears the plunge in the dollar is being recognized by gold…