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 Government Spending and Deficit Reduction.
Precious Metals:
Spot gold just posted another record high, yesterday. It was up $51.20 to $2,844.70 per Troy ounce at mid-day. That was a 1.8% gain for the morning. Meanwhile, spot silver jumped $1.02 to $31.77. That was a 3.3% gain for the morning. Platinum was up 4.9% to $994.50. I expect to see some profit taking on Friday. Hang in there for the long haul, folks. The bull market is far from over. And FWIW, I still favor silver and platinum, over gold. I hope that you reallocated your metals portfolio as I suggested. – JWR
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China Continues Making Covert Gold Purchases in London.
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Global Silver Market Forecast to Remain in a Sizeable Deficit in 2025.
Economy & Finance:
The on-again, off-again FinCEN small business owner-reporting scheme (“Beneficial Ownership Information Reporting”) is back on again, after a Supreme Court ruling. JWR Adds: We’ll post the new self-reporting deadline, once it is firmly announced. (At last report, the FinCen gnomes were just accepting “Voluntary Submissions” and they hadn’t set a deadline.)
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AOL reports: China’s DeepSeek prompts global sell-off in AI-linked stocks.
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Wall Street Enters Darker Age With Most Stock Trading Hidden.
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Working Americans Turn to Food Banks as Fed Inflation Battle Drags On. JWR’s Comments: If the Federal Reserve cartel really wanted to “fight” inflation, then it would simply stop expanding the money supply through fractional reserve banking. We need to abolish the Fed!