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, another look at the roaring precious metals markets. (See the Precious Metals section.)
Precious Metals:
The precious metals bull market is continuing. The week started with a bang, as spot gold jumped to $2,742.20 (up .47%) and spot silver to $34.28 per Troy ounce (up 3.02%) in Monday morning Asian trading. (That is Sunday evening, here in the States.). By Tuesday afternoon, gold was up to $2,762.50 (another all-time high) and silver was at $35.10. There was some expected profit-taking starting at mid-week — down to $2,745 gold and $33.73 silver on Friday morning — but I doubt we will ever see spot silver below $30.50 per Troy ounce again. And I must mention that I still expect silver and platinum to outperform gold, as the current metals rally continues. In fact, I wouldn’t be surprised to see silver break out above $50 per ounce. That would bring the silver-to-gold ratio closer to reality. – JWR
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Five Reasons Why The Gold Rally Is Not Over Yet.
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Gold and silver prices surge to new records as haven demand mounts. An excerpt:
“The European Central Bank (ECB) also implemented its widely expected third rate cut of the year last month. Investors have been piling up safe-haven assets, especially gold, as a means of preserving value amid rising geopolitical tensions. Silver typically follows gold’s trend, albeit with more volatility.”
Economy & Finance:
The Consumer Confidence Index fell in September.
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Over at Zero Hedge: “Consumers Running Out Of Money”: Former Target Exec Offers Dire Warning Ahead Of Christmas.
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Saxo: Global Market Quick Take: Europe – 21 October 2024.
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The Conference Board LEI for the US Declined in September.
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The 2025 Tax Brackets Are Here. See Where You Land.
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‘A new day’: Tupperware cancels asset auction, agrees to lender takeover.
Commodities:
AgWeb: 2024 Could Go Down as the Worst Financial Year for Farmers Since 2007.
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The World Is Running Out of Space to Keep Oil. Where Will It Go?
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From OilPrice News: IEA Warns of “Very Weak” Global Oil Demand.
The 3D-Printed Revolution:
The Economic Impact of 3D Printing: What You Need to Know
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How 3D Printing Will Change Supply Chains and Improve Sustainability.
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From the leftist USA Today: 3D printers turn regular guns into machine guns. Feds are cracking down.
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Forbes: 3D Printing Takes On New Automotive Dimensions.
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Forex & Cryptos:
Investors turn short on most Asian FX as dollar strength prevails.
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The Xe Global Currency Outlook – October 2024.
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Man accused of being Satoshi Nakamoto by HBO says he’s at risk of ‘robbery and kidnappings’.
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Trump election win could send BTC to $100K and propel altcoins further.
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Fed President Says Crypto ‘Almost Never’ Used Outside of Drug Deals, Illegal Activities.
Tangibles Investing:
Mortgage applications nosedive 17%.
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How A Rare Type Of Mortgage Is Landing Homebuyers A 3% Mortgage Rate.
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!