Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at record-high gold futures prices, in Dollar terms. (See the Precious Metals section.)
Precious Metals:
Published on Tuesday: ‘We Have Liftoff!’ – Spot Gold Takes Out Record High. JWR’s Comments: The fundamentals of gold haven’t changed, as a hedge. It is the U.S. Dollar that is showing its inherent weakness. Oh, and ditto for Bitcoin, which also hit an all-time high in Dollar terms, this week.
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Gold Futures Close at Record High.
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Commentary from Gary Wagner, at Gold-Eagle.com: The Truth About the Collapsing US Dollar and Its Impact on Gold & Silver Prices.
Economy & Finance:
Fed policymakers look past ‘bumpy’ inflation toward rate cuts.
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In the U.K.: Banks force closure of 140,000 small business accounts.
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Millennials on course to become ‘richest generation in history’.
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Nolte: Bud Light Boycott Cost Tranheuser-Busch $1.4 Billion.
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Will Denyer, by way of Zero Hedge: Good Story Versus Bad Valuations.
Commodities:
Election year vote-buying shenanigans: U.S. Northeast Gasoline Reserve Could Be Sold Off.
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Texas Wildfire Causes ‘Catastrophic Losses’ to Cattle Herds: ‘Farmers & Ranchers Are Losing Everything’. (A hat tip to reader A.K. for the link.)
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Lumber: Can Wood Prices Rally in Spring 2024?
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From OilPrice News: Israeli Gas Exports to Neighbors Soar Despite Gaza Conflict.
Inflation/Deflation Watch:
Inflation Gauge Picks Up, Indicating Inflation Still Hot.
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From CNN‘s Democrat Cheering Section: The US economy is so strong that there might not be any rate cuts in 2024.
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The Fed is just not going to cut interest rates this year, top economist Torsten Slok says.
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J.P. Morgan: Five better ways to track inflation in 2024 and beyond.
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Will Rental Housing Prices Drop in 2024?
Forex & Cryptos:
How Would a New BRICS Currency Affect the US Dollar?
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At Currency Thoughts: Contrasting Inflation Reports from Turkey and Switzerland.
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Full Percentage Point Cut in Hungary’s Central Bank Base Rate.
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In case you missed this news in January: Fed to allow emergency bank lending program to expire on March 11.
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Posted on March 4th: Bitcoin passes 67K, almost at all time high as Dogecoin, Shib jump with other cryptos.
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Analyst projects next leg for bitcoin price with BlackRock ETF holding $10 billion.
Tangibles Investing:
U.S. Commercial Foreclosures Increase in January 2024. A quote:
“The report reveals a significant climb in commercial foreclosures over the years, from a low of 141 in May 2020 to the current figure of 635 in January 2024. This represents a steady increase throughout the period.”
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Reuters: US pending home sales fall in January as high mortgage rates deter buyers.
Provisos:
SurvivalBlog and its Editors are not paid investment 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. Thanks!