The yellow metal couldn’t face the downward pressure and declined abruptly on Friday. What happened, and why did it fail?
So, QE ended (so far in Canada, but the Fed will follow suit) and the termination plunged gold prices in Canadian dollars. Will this repeat globally?
Inflation worries have intensified, gold started to rally on Friday… and then Powell came, ruining the party and killing the bullish vibe.
Maybe it’s not the best timing, given the spread of the Delta variant of the coronavirus, but let’s be optimistic and assume that we will soon leave the epidemic behind us. It goes without saying that the pandexit, or the exit of the Covid...
Generals are always prepared to fight the last war, while economists are always prepared to fight the last recession. But what if the next economic crisis doesn’t start in the US financial sector, but in China’s real estate?
The August CPI report makes it clear: inflation has already peaked. As the chart below shows, both the overall and core CPI have reached their fastest pace in June 2021. The former index surged 5.3% four months ago, while the latter soared...
The September FOMC minutes were rather hawkish, but gold prices rose yesterday. Did higher inflation finally push the yellow metal up?
Another disappointment from the economy! The September nonfarm payrolls came surprisingly weak. As the chart below shows, the US labor market added only 194,000 jobs last month, much below the expectations (analysts forecasted about half a...
“We need lower [consumer demand] growth to give the supply chain time to catch up, or differently spread out growth”, said Morten Engelstoft, chief executive of Maersk-owned APM Terminals, in September. Even though I’m fully aware of the...
It took Wall Street a while to find out about inflation above 5%, but it seems that investors have finally noticed that we live now in a world of elevated inflation. I have always known that only the smartest minds work on Wall Street! So...