Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at the sagging fortunes of Credit Suisse. (See the Derivatives section.)
Precious Metals:
It appears that the currently atypical gold-to-platinum ratio is starting to revert. When I last checked, gold was down to around $1,675.50 per Troy ounce and platinum was up to $919.20 per Troy ounce. So we can say goodbye to the aberrant ratio, which recently got close to 2:1. It might be safe to predict that the more historically average 1:2 ratio will return. That is where the ratio settled, during the last major economic recession. Do you care to do some ratio trading out of gold and into platinum, at your local coin shop? If so, then do that fairly soon. – JWR
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The spot and futures price of silver was pushed down again, late last week. It was at $18.63 per Troy ounce, the last time I checked. This is another good juncture to buy, if you’ve been a dawdler.
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Arkadiusz Sieroń, over at Gold-Eagle: FOMC Minutes Don’t Offer Any Hope For Gold.
Economy & Finance:
Fed officials expect higher rates to stay in place, meeting minutes show.
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IMF Blog: Interest Rate Increases, Volatile Markets Signal Rising Financial Stability Risks.
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Germany heading towards stagflation in 2023.
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It is rumored that Intel corporation is planning to layoff up to 20 percent of some divisions on October 27th.
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Inflation Front and Center This Week as Markets Remain on Edge.
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At The Guardian (UK): Market Turmoil.
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A consulting client asked me to summarize my approach to investing. I told him that I emphasize tangibles over conceptuals. I believe that if you learn to discern the real value of things, then you’ll have a basic grasp of how to make money. But if you learn to discern the true intentions of businessmen and politicians, then you will become a master of making a lot of money. – JWR
Commodities:
S&P Global: Weekly Pricing Pulse: Commodity prices down amid bond market turmoil.
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Forbes: Lower Copper Prices Will Weigh On Freeport’s Q3 Results.
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Copper price forecast: Is the metal a buy on macro uncertainty?
Derivatives:
An update on Credit Suisse, over at Wall Street on Parade: Here’s the Chart of the Global Bank Causing Panic in Markets This Morning.
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USD Swaps: Hawkish overhang persists; More flattening eyed; NY Fed repo.
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The dangers of derivatives as the “Goldilocks era” ends.
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Forex & Cryptos:
At Currency Thoughts: Rampant Inflation Worries Not Overstated.
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Accenture warns of forex hit in 2023 amid strong IT services’ demand.
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Bitcoin Dominance Rises As Market Turns Red, What Does This Mean For Altcoins?
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US lawmaker says crypto regulation from SEC is ‘needed now’.
Tangibles Investing:
To get back to basics: Tangible Assets Definition.
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An interesting academic paper: Tangibility bias in investment risk judgments.
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Swiss Watch Exports at Near-Record Levels as Industry Booms.
Provisos:
SurvivalBlog and its Editors are not paid investing counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!