Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at market reactions to recent Federal Reserve signals. (See the Tangibles Investing section.)
Precious Metals:
Why is gold down nearly $100 after Fed shakes up markets?
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Neils Christensen: Panic selling in gold could last a little longer as Wall Street turns bearish on gold, but many look to buy the dip. Here is an excerpt:
“The Federal Reserve unleashed considerable panic in the precious metals market. While there is still some bullish sentiment in the marketplace, some market analysts say that it could take some time for gold to work through all the selling pressure.
The latest Kitco News Weekly Gold Survey results show that sentiment in the precious metals market has dramatically shifted as the gold ends the week down $100. The yellow metal is seeing its worst weekly performance since March 13, 2020, when financial markets collapsed due to the spreading COVID-19 pandemic.
Sentiment among retail investors is at its lowest point since early April when gold prices were just starting their two-month rally.”
Economy & Finance:
ING: US household wealth surged $20tn despite the pandemic.
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At Zero Hedge: Feels Like 1977: Inflation Too High, Money Too Loose.
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CNN: Major US mall owner files for bankruptcy.
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At Activist Post: Unemployed Households Can Earn $25/Hour on Welfare in 21 States, New Study Finds.
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Democrats planning $6T spending bill that sidesteps Republican support. JWR’s Comment: It takes someone with a really special statist agenda to phrase a headline that way.
