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News — economy

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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As Dollar Weakens, Get Ready for Strong Gold

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By John McDonald Despite lower unemployment rates than the United States has seen in the past half-century and strong market performance for nearly a decade, the Federal Reserve recently opted to trim interest rates for the first time since the global financial meltdown of 2008. Jerome Powell, Fed chairman, cited stalled manufacturing growth and anticipation of a “world economic slowdown” as reasons for the cut. While the rate-cutting has a number of analysts in a tizzy, gold investors should be watching the Fed’s move with excitement.  It is likely just the catalyst gold needs to outperform the market and replicate...

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Gold Bears Turn Bullish, Ignore Fed and Traders

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By John McDonald After three months of indisputable gains and multiple six-year highs, some investors previously proudly bearish on gold are changing their stance on the yellow metal.  In fact, two prominent traders say it doesn’t matter what anyone does at the Fed or on Wall Street; gold will surge regardless at some point in the coming year. They expect that to happen sooner rather than later. “I look at gold as higher in both scenarios,” said Anthony Grisanti, founder and president of GRZ Energy, the day before the Fed cut interest rates by a quarter of a point.  Although...

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Leading Market Strategist Warns: Central Banks are Insane, an Impediment to Progress

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By John McDonald As more and more players on the S&P 500 and the Dow Jones Industrial Average up the ante on their year-end-returns predictions, analysts like Sven Henrich, founder and lead market strategist of NorthmanTrader.com, are getting nervous. In a recent op-ed posted on MarketWatch, Henrich asked: “Why does the global economy need rescuing after 10 years of non-stop monetary stimulus?” The answer, he warned, is unsettling. According to Henrich, investors are becoming so afraid of any market “pain” that central banks now feel too much pressure from politicians and their associated governing bodies. The banks, which were created...

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Lessons and Reactions From The Federal Reserve’s June Policy Statement

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By John McDonald  On June 19, 2019, the United States Federal Reserve Board of Governors released a policy statement based on the recent meeting of the Federal Open Market Committee. Market reaction was swift and substantial. Nearly immediately, the yield on the 10-year Treasury Note fell below 2% since November of 2016. CNBC describes 2% as “a key psychological level”, though such language is, at best, nebulous. Regardless of the “psychological significance” of the fact that the 10-year note dropped below 2%, substantial downside moves in that key interest rate can absolutely have a serious impact on everyday financial issues...

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