Today, we look at base metals prices, in the Commodities section.
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Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at base metals prices. (See the Commodities section.)
Precious Metals:
Why is The US Treasury’s Silver Eagle Mandate Not Being Honored? : Analyst.
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At Kitco.com: U.S. focus on green energy transition is working and silver continues to be the biggest beneficiary – Bank of America.
Economy & Finance:
Reported back on July 5th: After brief pause, Federal Reserve looks poised to raise interest rates again. JWR’s Comments: Another 50 basis point rise in the prime rate will be enough to destroy the real estate market. Even with current mortgage rates, very few would-be home buyers now qualify for mortgages.
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Linked over at the Whatfinger.com news aggregation site: Tax Relief Is Coming To Millions Of Red-State Residents.
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At Zero Hedge: IMF Raises Global GDP Outlook, Warns “Not Out Of The Woods” As Inflation Proves Sticky. From teh report’s summary:
“Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024. The rise in central bank policy rates to fight inflation continues to weigh on economic activity. Global headline inflation is expected to fall from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024. Underlying (core) inflation is projected to decline more gradually, and forecasts for inflation in 2024 have been revised upward.”
Commodities:
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Focus: Smaller miners’ hunger for cash grows as copper prices fall, sparking M&A bets.
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Zinc Price Update: H1 2023 in Review.
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Lead Price Monthly and Annually.
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LME Will Reduce Daily Limit of Aluminium and Copper to 12% from July 24.
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‘Massive US Oil Caverns’ Are Now Empty, Will Take ‘Decades To Refill’ Thanks To Biden. JWR’s Comments: The Strategic Reserve was designed to carry us through a wartime shortage or a foreign oil embargo. For Team Biden to use most of it tactically to boost their opinion poll numbers is absolutely unconscionable.
Inflation/Deflation Watch:
CNBC: China’s risk of deflation is ‘serious’ — one economist says it’s ‘time to act’.
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Germany: Inflation rate at +6.4% in June 2023.
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Cooling down: Greece Core Inflation Rate.
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Price Inflation Slowed to 3 Percent. That’s Still Far Too High.
Forex & Cryptos:
The BRICS Won’t Kill the Dollar, US Policy Will.
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At Currency Thoughts: Full Percentage Point Russian Central Bank Rate Hike… More Tightening Promised.
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Two more crypto bills in the US: Law Decoded, July 17–24.
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Cryptocurrency expert Jameson Lopp goes a little bit survivalist-ishy: How to Bury a Bitcoin Seed Phrase Backup.
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Hester Peirce criticizes SEC’s warning to accounting firms working with crypto.
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Elon Musk says X will offer an ‘entire financial world’ in the coming months.
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Dogecoin up 4% as X payments speculations return.
Tangibles Investing:
Kelley Blue Book: Is Now the Time To Buy, Sell, or Trade-in a Car?
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CNBC: Home prices continue to climb with ‘striking’ regional differences, says S&P Case-Shiller.
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Brownells (one of our affiliate advertisers) has some special deals on optics, ammunition, gun parts, and complete guns. Just click on “Save More” to get to their Deals page.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!
