Goldman Sachs: Bullish Outlook on Copper, Gold, and Oil
Goldman Sachs remains “selectively bullish” on commodities like copper, gold, and oil, citing solid demand growth, structural upside in industrial metals and gold, and a reduced geopolitical risk premium for oil. The bank expects total commodity returns to rise from 13% year-to-date to 18% by year-end. They forecast copper could gain 15% to $12,000 per […]
Gold Gains on Revised US GDP Figures and Lower Treasury Yields
Gold rebounded to the $2,340s on Thursday due to a weaker US Dollar following a downward revision of US GDP growth to 1.3% for Q1, from an initial 1.6%. This revision implies a weaker economy and potentially lower inflation, which could lead to reduced interest rates by the Federal Reserve, benefiting gold by lowering its […]
Why China Does Not Dare To Solve Its Problems By Printing Large Amounts Of Money
Why China Does Not Dare To Solve Its Problems By Printing Large Amounts Of Money Authored by Law Ka-Chung via The Epoch Times, China’s proposal of a 300 billion Yuan bank loan to rescue the housing sector is obviously a tiny amount compared to the amount outstanding; I discussed this in last week’s piece here. […]
African Nations Intensify Efforts Against Speculative Currency Trading
African governments from Zambia, Zimbabwe, Nigeria, and South Sudan are cracking down on street currency dealers to defend their currencies from speculative trading, resulting in bans, arrests, fines, and revised regulations. Despite these efforts, parallel markets with more widely used exchange rates persist. Recently, Ghana joined the crackdown by imposing new rules on street dealers […]
X To Host Town Halls With Trump, RFK Jr. As CNN Announces Commercial Breaks For Biden Debate
X To Host Town Halls With Trump, RFK Jr. As CNN Announces Commercial Breaks For Biden Debate Former President Donald Trump and independent presidential hopeful Robert F. Kennedy Jr. will participate in live town halls hosted by X and cable news network NewsNation, Axios reports. The events have yet to be scheduled, nor moderators picked […]
Core PCE Inflation Rises 0.2% in April, Matching Forecasts
The Federal Reserve’s preferred inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, rose 0.2% in April, meeting expectations. Annually, core PCE increased by 2.8%, slightly above estimates. Including food and energy, PCE inflation was 2.7% annually and 0.3% monthly, also in line with forecasts. This measure is favored over the […]
No Such Thing As Bad Publicity
No Such Thing As Bad Publicity By Bas van Geffen, Senior Macro Strategist at Rabobank Trump has been found guilty of all charges in his hush money trial. While this may prevent Trump from voting for himself in November, it is questionable if this conviction will meaningfully lower his odds in the Presidential elections. In […]
Analysts Predict Gold to Continue Climbing After Record Highs
Gold prices reached a record high of $2,449.89 per ounce, with silver and copper also seeing significant gains. Although these metals have slightly retreated, they remain near their peaks, with analysts predicting further increases over the next year. UBS Bank raised its gold price forecast to $2,500 per ounce by the end of September and […]
Chicago PMI Unexpectedly Craters To Depression Levels
Chicago PMI Unexpectedly Craters To Depression Levels After unexpectedly slumping last month to 37.9, the Chicago PMI index cratered even more unexpectedly in May, when it defied hopes of a rebound to 41.5, and instead tumbled even more, sliding to a cycle low of 35.4 which was not only below the lowest estimate, but was […]
Kremlin: NATO Weapons To Be Hit In Any Country From Where Russia May Be Attacked
Kremlin: NATO Weapons To Be Hit In Any Country From Where Russia May Be Attacked Predictably, the Kremlin is fuming at widespread reports that the Biden administration has made a U-turn on its policy which previously prohibited Ukraine from attack Russian soil with US-supplied weaponry. Former Russian president and current Security Council Deputy Chairman Dmitry […]