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, after news of gold’s winning streak, we look at classic car restoration. (See the Tangibles Investing section.)
Precious Metals:
Gold has gained 22% in 2024. Gold prices have been very strong since August 7th, repeatedly setting new record highs in U.S. Dollar terms. I noticed that spot gold touched $2,544.20 USD per troy ounce, on Tuesday. I expect to see some profit taking, but the market is still very bullish. Meanwhile, the spot prices of silver and platinum have been lagging. I expect to see their prices revert, relative to gold in the next few weeks. So, now is the time to stack some more physical silver and platinum!
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At Gold-Eagle.com: Michael Oliver Report Answers:´How Crazy Is $3,000 Gold From Here?‘
Economy & Finance:
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Zero Hedge reports: Global Debt Hits A New High Of $315 Trillion.
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USPS sees steep drop in expedited shipping demand.
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Commodities:
Reader C.B. sent us this: New drilling technology to put billions of barrels of oil in reach, analysts say.
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Over at OilPrice News: Oil Prices Fall As Middle East Worries Ease.
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The world’s biggest steelmaker warns of a looming industry crisis that will outpace 2008’s downturn.
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‘Catastrophic’: Top Grid Official Sounds The Alarm On Biden’s Sweeping Power Plant Rules.
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Three energy traders and an analyst quit Millennium.
Inflation/Deflation Watch:
A Ramsey Show segment that I found linked over at the Whatfinger.com news aggregation site: ‘DEBT IS THE PROBLEM’: Americans grapple with pesky inflation.
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Core Consumer Prices Hit New Record High – Up For 50th Straight Month.
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Home Depot Slashes Sales, Profit Outlook As Higher Rates “Pressure Demand”.
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Forex & Cryptos:
Dollar Reserves Have Dropped By 14 Percent Since 2002.
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At Currency Thoughts: Swedish Central Bank Rate Cut and More to Come.
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Why the U.S. dollar’s ‘weird’ August fall could be due to Kamala Harris’s rise in the polls.
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US Dollar Remains Weak Ahead of Jackson Hole, USD/JPY and Gold Latest.
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Could Bitcoin’s value slip under $50,000 in the coming months?
Tangibles Investing:
Restoration Shops Today Face Major Challenges.
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Is Your Classic Vehicle Worth Restoring?
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New Report: Americans Purchased More Than 1 Million Firearms a Month for Five Years.
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!