Category: Markets

Gold steady at 1249.00 (+0.70). Silver 15.81 (-0.05). Dollar easier. Euro higher. Stocks called mixed. U.S. 10-year 2.36% (-2 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold steady at 1247.05 (-0.30). Silver 15.82 (+0.08). Dollar higher. Euro lower. Stocks called higher. U.S. 10-year 2.38% (+2 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold lower at 1255.70 (-8.69). Silver 15.85 (-0.15). Dollar higher. Euro lower. Stocks called mixed. U.S. 10-year 2.34% (unch).

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Posted in Gold Price, Markets, Silver Price |

US yield curve flattens at fastest pace since financial crisis

FT/Joe Rennison/12-06-17

The difference between short-dated and longer-dated US Treasury yields has narrowed at its fastest pace since 2008, as investors anticipate a quicker rate of policy tightening from the Federal Reserve next year.

The difference between two- and 10-year yields has fallen 33 basis points to just 52 basis points over the past 30 days, while the difference between five- and 30-year yields has fallen 34 basis points, surpassing declines prompted by the European sovereign debt crisis in 2011 and reaching a pace last seen during the financial crisis, according to analysts at Citi.

It marks a pronounced “flattening” of the yield curve, with investors receiving decreasing returns for holding longer-dated bonds compared to shorter-dated notes — typically a harbinger of economic recession.

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Posted in Economy, Markets |

Gold steady at 1266.26 (-0.04). Silver 16.08 (-0.05). Dollar steady. Euro easier. Stocks called lower. U.S. 10-year 2.32% (-3 bps).

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Posted in Gold Price, Markets, Silver Views |

Gold lower at 1272.77 (-3.93). Silver 16.24 (-0.11). Dollar higher. Euro lower. Stocks called higher. U.S. 10-year 2.39% (+2 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold lower at 1274.35 (-5.83). Silver 16.36 (-0.05). Dollar higher. Euro lower. Stocks called higher. U.S. 10-year 2.39% (+2 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold jumps and stocks retreat on risk aversion amid Flynn headlines.

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Posted in Gold News, Gold Price, Gold Views, Markets |

We talked to an economist who predicted the Great Recession about the next financial crisis

BusinessInsider/Graham Rapier & Sara Silverstein/12-01-17

Instead of using traditional macroeconomic models, Rickards prefers to borrow one from physics: complexity theory. Using this framework, Rickards proposes a scenario in which the world shifts partially back to the gold standard, with an ounce of gold being valued at $10,000 per ounce.

PG View: The Rickards segment begins at 2:05 and ends at 11:13.

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Posted in Central Banks, Economy, Fed, Gold News, Gold Price, Gold Views, Markets, QE |

Gold steady at 1274.62 (-0.65). Silver 16.35 (-0.12). Dollar higher. Euro lower. Stocks called mixed. U.S. 10-year 2.38% (-3 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold lower at 1280.10 (-4.31). Silver 16.48 (-0.09). Dollar better. Euro easier. Stocks called higher. U.S. 10-year 2.39% (unch).

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Posted in Gold Price, Markets, Silver Price |

Gold lower at 1287.88 (-6.34). Silver 16.72 (-0.18). Dollar higher. Euro lower. Stocks called higher. U.S. 10-year 2.37% (+4 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold better at 1296.27 (+1.43). Silver 17.10 (+0.02). Dollar higher. Euro easier. Stocks called higher. U.S. 10-year 2.32% (-1 bp).

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Posted in Gold Price, Markets, Silver Price |

Gold higher at 1295.76 (+7.50). Silver 17.14 (+0.10). Dollar lower. Euro higher. Stocks called mixed. U.S. 10-year 2.34% (-1 bp).

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Posted in Gold Price, Markets, Silver Price |

Gold higher at 1286.08 (+4.77) Silver 17.02 (+0.02). Dollar lower. Euro higher. Stocks called higher. U.S. 10-year 2.36% (+1 bp).

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Posted in Gold Price, Markets, Silver Price |

Gold easier at 1278.20 (-1.25). Silver 16.95 (unch). Dollar better. Euro lower. Stocks called mixed. U.S. 10-year 2.36% (+1 bp).

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Posted in Gold Price, Markets, Silver Price |

The stock market is ‘dancing on the rim of a volcano,’ warns investment bank

CNBC/Fred Imbert/11-20-17

Investors are too optimistic and taking on too much risk in this low volatile environment, setting the stock market up for a potential downfall, according to strategists at investment bank Societe Generale.

“In a goldilocks scenario of low interest rates, abundant liquidity, stable growth and a focus on the ‘good’ Trump, investors continue to push asset prices, volatility and leverage to historical extremes,” said Alain Bokobza, head of global asset allocation at Societe Generale, in a report Monday. “Yet, a low volatility carry environment with rather extreme positioning is a dangerous combination, which we recently likened to dancing on the rim of a volcano.”

PG View: Today’s pullback in gold may be a great opportunity to hedge your exposure to frothy stocks.

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Posted in Markets |

Gold easier at 1292.16 (-1.67). Silver 17.21 (-0.10). Dollar lower. Euro higher. Stocks called better, U.S. 10-year 2.35% (+1 bp).

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Posted in Gold Price, Markets, Silver Price |

Gold higher at 1283.16 (+3.66). Silver 17.10 (+0.004). Dollar steady. Euro better. Stocks called mixed. U.S. 10-year 2.37% (-1 bp).

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Posted in Gold Price, Markets, Silver Price |

Gold steady at 1280.28 (+0.72). Silver 17.11 (+0.078). Dollar steady. Euro easier. Stocks called higher. U.S. 10-year 2.35% (+3 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold higher at 1287.06 (+6.06). Silver 17.18 (+0.136). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.33% (-4 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold lower at 1274,51 (-3.60). Silver 16.99 (-0.049). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.39% (-2 bps).

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Posted in Gold Price, Markets, Silver Price |

Trump era brings lowest stock market volatility since early 1960s

FT/John Authers & Joanna S Kao/11-13-17

The year after Donald Trump’s surprise victory in the US presidential election have been the quietest months for the US stock market in more than half a century.

“The longer a low volatility environment persists, the greater the average equity market drawdown when it ends.” — Jacob Mitchell

…the current Sharpe ratio would put this rally in the 0.3 percentile of the best times in history,” said Vincent Deluard, head of global macro strategy at INTL FCStone. “Let that sink in: this stock market is better than 99.7 per cent of the times since 1900.”

PG View: From this condition has sprung perhaps the most pronounced (and dangerous!) investor complacency of our lifetimes! Another pertinent quote appeared on the JSMineSet sight today:

‘The problem with bubbles is that they force one to decide whether to look like an idiot before the peak, or an idiot after the peak.’ — John Hussman

I would suggest that getting out of frothy investments early is far less an evil.

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Posted in Markets |

Gold better at 1277.23 (+1.58). Silver 16.89 (+0.038). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.38% (-2 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold easier at 1285.00 (-1.30). Silver 17.05 (+0.045). Dollar steady. Euro better. Stocks called lower. U.S. 10-year 2.37% (+2 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold higher at 1286.61 (+4.46). Silver 17.12 (+0.042). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.33% (unch).

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Posted in Gold Price, Markets, Silver Price |

Gold higher at 1281.41 (+3.63). Silver 17.06 (+0.063). Dollar steady. Euro easier. Stocks called mixed. U.S. 10-year 2.31% (-1 bp).

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Posted in Gold Price, Markets, Silver Price |

Gold easier at 1277.47 (-2.79). Silver 17.07 (-0.104). Dollar higher. Euro lower. Stocks called mixed. U.S. 10-year 2.32% (+1 bp).

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Posted in Gold Price, Markets, Silver Price |

Gold better at 1272.01 (+2.23). Silver 16.91 (+0.076). Dollar firm. Euro lower. Stocks called mixed. U.S. 10-year 2.32% (-2 bps).

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Posted in Gold Price, Markets, Silver Price |

Gold lower 1274.36 (-3.40). Silver 17.10 (-0.066). Dollar and euro steady. Stocks called higher. U.S. 10-year 2.34% (unch).

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Posted in Gold Price, Markets, Silver Price |