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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