Minneapolis Fed president Neel Kashkari indicated modest interest rate cuts are likely, citing a strong job market. Meanwhile, gold prices surged, driven by central bank demand and lower interest rates. Investors expressed caution, leading to decreased homebuying and mortgage refinancing, amid fears of a potential recession and escalating U.S. national debt.
The Federal Reserve’s recent interest rate cuts have reduced mortgage rates, potentially increasing homebuyers’ purchasing power, but the U.S. housing market remains strained due to a housing shortage and rising expenses. Gold prices hit an all-time high due to economic uncertainties and strong demand. The U.S. economy grew by 3% in Q2, and a decline in oil prices is expected as Saudi Arabia unwinds production cuts. U.S. unemployment claims fell, indicating labor market strength.
Gold prices are just slightly up and silver prices are lower in early U.S. trading Tuesday, as a big and busy week of U.S. economic reports lies ahead.
Gold’s record-high prices, combined with growing economic uncertainty and market volatility, are bringing a new focus to the precious metal’s role within global financial markets.
Gold prices are solidly up and hit another record high in early U.S. trading Tuesday. Silver prices are also on the march higher and hit a four-week high overnight.
Gold and silver prices are higher, with silver sharply up, in early U.S. trading Tuesday. Bullish daily outside-market forces are working in favor of the bulls to start the trading week.
1. After a relatively slow start in the first quarter, silver is making its move, significantly outpacing gold as it trades at an 11-year high. Just ahead of last weekend, silver prices have broken above $30 an ounce. Soaring silver prices have pushed the gold-silver ratio below 80 points, and it has been trading at…
Gold is considered a unique asset due to its enduring value, historical significance, and application in various technologies like computers, spacecraft, and communications equipment.
Gold and silver prices are sharply higher, with gold hitting a record high and silver a three-year high. The general marketplace is very uneasy heading into the weekend, as geopolitical tensions have heated up just recently.
1. As gold set another record high, Canadian mining legends Frank Giustra and Pierre Lassonde say the West has lost its power to set the price of gold. With gold futures hitting another record high of above $2,324.80, Giustra and Lassonde pointed to a major shift in the gold market. “The world hasn’t woken up…
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