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. Most of these items are from JWR’s “tangibles heavy” contrarian perspective. Today, we look at the current chicken egg shortage, and food price inflation.
Precious Metals:
The spot and futures prices of silver and gold broke out late Friday (January 13, 2023.) Though there will probably be a bit of profit-taking in the short term, I expect to see some solid gains for precious metals in coming weeks, as the US Dollar Index continues its retreat from its top. When I last checked, spot silver was at $24.56 per Troy ounce, and gold was at $1,931 per Troy ounce. I expect to see silver approaching $30, by April.
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Gold climbs eight-month high in run-up to US inflation test.
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Clint Siegner, at Gold-Eagle.com: As the Dollar Falls, Metals Will Rise.
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A Silver Price Forecast For 2023. “The price of silver will move to our first bullish target of $34.70 USD in 2023. We expect $48 USD soon after, not later than in 2024.”
Economy & Finance:
Morgan Stanley’s Mike Wilson warns U.S. stocks could slump another 22% if recession arrives in 2023.
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At Zero Hedge: Massive Hedge Fund, Also Known As Swiss National Bank, Suffers Colossal $143 Billion Loss In 2022.
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Video: Soft landing? The global economy in 2023.
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S&P 500 Likely to Trade in Tighter Range in 2023.
Commodities:
Linked over at the Whatfinger.com news aggregation site: Shortage Fears Spike As Some Costco And Walmart Stores Run Out Of Eggs.
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H.L. sent us this: Kremlin “Keeping Very Close Watch” On Russian Oil Prices, Will Limit Oil Discount.
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Today’s Cheaper Gas Is The Calm Before 2023’s Storm.
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A Mad Rush to Build More EV Factories, But Where are the Minerals?
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Biofuel Production Is Set To Soar In The U.S.
Inflation Watch:
Food price inflation to remain high; impacts variable.
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Even Uncle Sugar’s Enforcers getting in on the act: Annual Adjustment of Civil Monetary Penalties To Reflect Inflation.
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Investors are underestimating inflation again.
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A report from the UK: Food inflation rate to peak in early 2023, then slow.
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Barron’s: Inflation Hurts. An Engineered Recession Would Be Worse.
Forex & Cryptos:
At The Economist: The dollar could bring investors a nasty surprise. “Virtually everyone thinks the greenback will weaken.”
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At Currency Thoughts: Expectations of Further Disinflation Depress the Dollar to 7-Month Weighted Low.
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FTX Changed Crypto Regulation. Here’s What 2023 Has in Store.
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A Snapshot of the 2023 Crypto Regulatory Landscape.
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Robinhood announces plans to delist Bitcoin SV (BSV) before end of January.
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FTX customers names will remain sealed for now, rules judge.
Tangibles Investing:
This data from Rock Island Auctions confirms what we’ve been seeing: 2023 Gun Prices and Trends.
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Sotheby’s, Christies Post Record Annual Sales, Defy Weak Economy.
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Palmetto State Armory (one of our affiliate advertisers) is running a special sale on blemished complete Classic M4 Lowers with six-position stocks, for just $119 each. These can only be shipped to FFLs. At the Palmetto site, just put “7244B” in their search box, to find this deal.
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!