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 the 2024 BRICS Summit. (See the Precious Metals and Forex & Cryptos sections.)
Precious Metals:
The precious metals market roller-coaster ride is continuing, with a lot more “woo-hoo!”, than screaming. On Monday (October 28, 2024) spot gold started out strong, at $2,760 per Troy ounce. Silver was back up to $34.06. Palladium has been the big mover, in recent days. It was at $1,266 on Monday, but down to $1,204, on Wednesday. Also on Wednesday, spot gold reached $2,803.60 USD in Asian trading. That was another all-time high.
I anticipate that silver and platinum still have more catching up to do, vis-a-vis gold. – JWR
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The BRICS Aren’t The Only Ones Turning To Gold…
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From Reader C.B.: Hungary strikes gold: New deposits may reshape economy.
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For more details on the nascent precious metals market, see today’s October in Precious Metals column. Stackers are living in some exciting times!
Economy & Finance:
North Dakota voters could end property taxes — and pour ‘gas on the spark’ of a growing tax revolt.
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Analyzing China Exposure Risk.
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Charles Hugh Smith: 17 Indicators of Global Recession Are Clanging.
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Reader C.B. spotted this M&A news: Verizon to Buy $1 Billion in Spectrum From US Cellular.
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Store closings hit highest level in years amid higher prices, more budget-conscious consumers.
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