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 Biden Administration’s LNG Export Ban. (See the Commodities section.)
Precious Metals:
Spot gold jumped to $2,708.70 per Troy ounce on Thursday morning, in Asian trading. That was another all-time high. And on Wednesday, spot silver briefly touched $32.40. Although there may be some short-term profit-taking, I expect to see gold in a sustained breakout above $2,700, fairly soon. Señor Bull is looking very confident and appears ready to go Full Pamplona. The Comex Gold Shorts should be running for the side streets, in terror.
Update, Friday AM:
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Jesse Columbo: Will Russian Buying Drive Silver Beyond $50?
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Over at The Daily Reckoning: The Next Wave(s) of Inflation.
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Russia calls on BRICS partners to create an alternative to IMF.
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Economy & Finance:
Kamala Harris promises price controls … and a few unintended consequences. JWR’s Comment: I’ve been warning you about this, folks, since 2007: How Federal “Bans”, “Freezes”, and “Price Controls” Spread Economic Chaos.
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Social Security payments will rise 2.5% in 2025. JWR’s Comment: This small increase will not keep up with the real rate of inflation!
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Earthquake Insurance Rates Are Set To Increase In California.