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News — china

U.S. Labels China “Currency Manipulator,” Gold Soars

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By John McDonald In the wake of breaking news that the United States had formally labeled China a “currency manipulator” and China had retaliated by dropping the price of its currency to a near-historic low, gold prices skyrocketed the night of August 5, 2019.  Even after the upward momentum stabilized the next morning, gold bulls gleefully noted the yellow metal had hit another six-year high overnight. With Asian and European markets volatile and the U.S. stock indexes positioned to open higher the next morning, gold buyers had eased up on activity somewhat as the trading day began.  However, gold and...

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The Mysterious “Whale” Buying Up Silver

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By John McDonald Silver investors have spent much of the summer disappointed thanks to what they consider “underperformance” in light of gold’s recent rally and general bullish trend. Silver is generally more volatile than gold, rising higher than the precious yellow metal when gold is on a rally and falling farther and faster when values retreat. However, silver is not “behaving” as it should this time around. In fact, while gold has steadily risen by about 11 percent since last December, silver has actually fallen slightly. Conventional wisdom would have expected a 20 percent silver rally with gold up by...

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“Strong Undercurrent” for Gold Could Mean $2,000 an Ounce in the Near Future

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By John McDonald Thanks to a vast array of long- and short-term geopolitical factors and economic trends, many precious-metals analysts believe gold could hit $2,000 an ounce in the near future. While most are unwilling to predict exactly when that might happen, the most bullish believe even a relatively short-term extension of trade tensions between China and the United States could send gold through the $2,000 ceiling as U.S. fears over a national recession continue to mount. Some cite momentum that has been building since 2003 for this expectation. “In the last eight to 10 years, we’ve seen a bull...

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Morgan Stanley’s Market Bear Forecasts a Grim 2019

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By John McDonald The man widely considered to be “Wall Street’s most bearish analyst” says 2019 is shaping up just as he predicted, and that means big risks for investors in the markets. Morgan Stanley chief investment officer Mike Wilson recently described the U.S. economy as “running on fumes,” despite recent upward surges in the stock market. “The macro and microeconomic data continue to deteriorate,” Wilson wrote, citing soft jobs numbers, soft retail earnings, and overall soft metrics. He added investors counting on the Fed to lower interest rates and keep the economic cycle spiraling upward are making a mistake....

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Chinese Sale of U.S. Treasury Bonds Indicates Commitment to Trade Conflict

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By John McDonald China has been selling off U.S. Treasury bonds for several years now, causing a vague unease among many U.S. investors. With a trade conflict between the two countries well under way, China’s reduction of its bonds by about 4 percent in 2018 and its ongoing sale of the bonds in 2019 has many “talking heads” talking about a trade-war “nuclear option” for China: dumping its U.S. Treasury debts. “This is really the biggest weapon they have,” said Loyola Marymount economics professor Sung Won Sohn in a recent interview on CNBC. “If push comes to shove, that is what...

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