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News — precious metals

Key Recession Indicator Hits Highest Levels Since 2009

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By John McDonald The New York Federal Reserve’s probability model, which the Fed uses to predict the probability of a recession in the United States in the next 12 months, hit a reading not seen since 2009 this past June.  The reading, 32.9 percent, might not seem that high at first. However, every recession since 1960 has been preceded by the model breaching the 30 percent threshold. Feel like the measure probably has a way to go before things get serious? Think again. The most recent recession never weighed in anywhere near what most people believe is a sure thing:...

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Russia Continues to Add to Gold Reserves

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By John McDonald The Russian central bank has been investing heavily in gold this summer, adding 6 tonnes of the precious metal to its reserves in May 2019. This put the country’s total gold holdings at nearly 2,200 tonnes as of June 1, 2019, up by 0.3 percent in May. Russia has added 77 tonnes to its gold reserves since the beginning of this year. About 40 percent of that was purchased this past February. The country’s central bank is not hiding its activities. In fact, it released information about its latest acquisition via a press release shortly after the...

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Gold Surging on Financial Uncertainty, Stock Market Volatility

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By John McDonald  Unlike the stock market, which makes a certain subset of analysts and investors nervous when the numbers get too high, gold values are surging and few expect them to fall in the near future, if at all. Thanks to wide-ranging uncertainty about the United States’ trade policies, fear that the stock market is flying a little too close to the sun, and ongoing controversy over just what the Fed’s predicted July interest rate cut will really do for the national economy, gold’s “power as a safety trade is not waning, but could actually be set to spike,”...

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Impeachment Conflict Could Be Bad News for Markets, Good News for Metals

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By John McDonald  Last year, oddsmakers were placing bets for and against President Donald Trump still holding his office by the end of this year. Now, with House Speaker Nancy Pelosi’s latest commentary on impeachment reading as an unequivocal “no-go” despite telling senior Democrats just last week she would “like to see [the president] in prison,” it looks like the president will sit securely in the Oval Office at least until the end of 2020. However, even if Pelosi and her party were to change course again, precious metals investors could sit squarely on their portfolios and watch the chaos...

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Rare Metal Prices Surge in Anticipation of Chinese Trade Ban

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By John McDonald Saber rattling between the United States and China over trade policies is creating a surge in rare metal values. If the standoff continues, investors in rare and precious metals could see skyrocketing portfolio values both near- and long-term. At the end of May, Beijing warned it has a plan in place to restrict the exports of “rare earths” to the United States. Rare earths are metals used in the manufacture of many electronic devices, cars, and, perhaps most importantly, magnets. China provides about 95 percent of all rare earths in global trade, and Chinese exports of these...

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