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, a recap of the tumultuous early August stock crash.
Precious Metals:
Spot gold hit another all-time high this morning in Asian trading. When I last checked, it was at $2,511.20 per Troy ounce. (Up $42.80.) The more heavily-manipulated silver market has some catching up to do. The silver shorts may soon be in a panic.
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Gold Is Back Over $2,500 As Money Starts Going Back Into ETFs.
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At Zero Hedge: PBoC’s Gold Conduit Revealed: Chinese Central Bank Did Not Stop Buying Gold In May.
Economy & Finance:
‘Magnificent Seven’ Losses Approach $3 Trillion Amid Weeks-Long Selloff.
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10 Imploding Stocks Cost Investors A Staggering $2.6 Trillion.
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World’s Richest Lose $134 Billion in Stock Slump, Led By Bezos.
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Charles Hugh Smith: The Great Unwinding: Is There Any Way to Come Out Ahead?
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And at Zero Hedge: “Travel Trends Deteriorating” As Consumer Downturn Worsens.