U.S. Recession Risk Drops to 20%, Goldman Sachs Reports
Goldman Sachs has reduced its forecast for a U.S. recession in the next 12 months from 25% to 20%, citing recent positive economic data. This revision comes after strong retail sales figures and a decrease in jobless claims, which have alleviated concerns sparked by July’s high unemployment rate. The bank’s chief U.S. economist, Jan Hatzius, […]
Turkish Central Bank Fortifies Reserves: July Sees 3.5% Boost to $147.9 Billion
Turkey’s central bank reported a significant increase in its official reserves, reaching $147.9 billion by the end of July, marking a 3.5% rise from the previous month. This growth was primarily driven by a 7.5% increase in foreign currency reserves, which totaled $83.2 billion. Despite a slight 1.6% decrease in gold reserves to $57.2 billion, […]
China's Gold Appetite Returns: New Import Quotas Signal Market Shift
China’s central bank has issued new gold import quotas to several banks after a two-month pause, signaling potential renewed demand despite record-high prices. This move comes as gold prices hit an all-time high of $2,500.99 per ounce, driven by a weaker dollar and expectations of U.S. monetary easing. While jewelry demand remains weak, investment interest […]
Central Bankers Converge at Jackson Hole Amid Rate Cut Speculation
The Jackson Hole Economic Symposium takes center stage this week, with investors closely watching for signals about future interest rate decisions from Federal Reserve Chair Jerome Powell and other central bankers. Markets are anticipating potential rate cuts, but the timing and magnitude remain uncertain. The event coincides with the release of key economic data, including […]
Peter Schiff: The Fed Still Isn’t Data-Driven
Peter Schiff: The Fed Still Isn’t Data-Driven Via SchiffGold.com, In this episode, Peter analyzes recent PPI and CPI reports, reiterates his September rate-hike prediction, and comments on the Tump-Musk X interview that garnered the country’s attention on Monday. He also diagnoses the source of high housing and education costs that have made the economy feel […]
As Gold Hits $2,500, All Eyes Turn to Fed's Next Move
Gold prices reached a record high above $2,500 per ounce, driven by safe-haven demand and expectations of U.S. interest rate cuts. Despite a slight pullback, analysts anticipate further price increases, with UBS projecting $2,600/oz by year-end. Investors are now focused on Fed Chair Powell’s upcoming speech and the release of July’s Fed meeting minutes for […]
House Concludes Biden “Actively Participated” In Impeachable Offenses – Except It’s Too Late To Impeach Him
House Concludes Biden “Actively Participated” In Impeachable Offenses – Except It’s Too Late To Impeach Him The GOP-led House committees who have been investigating the Biden family shook their fist at the sky on Monday, announcing in a 291-page report that the president engaged in impeachable conduct by helping to enrich his family with millions […]
Five Commodity Trends Shaping Global Markets
Iron ore prices are plummeting due to a steel industry crisis in China, while soybean stockpiles reach record highs. In the US, a hot summer is driving up natural gas demand. These trends, along with developments in nuclear power and Mexican oil production, are shaping global commodity markets this week.
Futures Flat As Jackson Hole Looms; Dollar Tumbles As Yen Soars
Futures Flat As Jackson Hole Looms; Dollar Tumbles As Yen Soars Futures are flat after trading in a narrow overnight range, with small-caps outperforming. As of 7:45am ET S&P futures are up 0.1% at 5,581, after last week’s face-ripping rally which pushed the S&P to within 2% of the all time highs, while Nasdasq futures […]
These Are The Countries That Use ChatGPT The Most
These Are The Countries That Use ChatGPT The Most It’s been almost two full years since OpenAI released ChatGPT, helping kickstart the generative AI revolution. Consumers lined up around the virtual block to use ChatGPT, kicking off an AI arms race between at least three Big Tech companies. But now that the initial newness has faded, what […]