The recent rally in the gold and silver markets. Bitcoin ETF Approval Date.
by 
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 examine the recent rally in the gold and silver markets. (See the Precious Metals section.)
Precious Metals:
Gold prices ignore Powell’s hawkish stance as prices surge to session highs above $2,050. JWR’s Comment: Yes, the metals are indeed looking bullish! I noted these figures, from after-hours trading on Friday evening (December 1st, 2023):
I expect to see some profit-taking today, but this could be the beginning of a secular bull market.
o o o
A Dave Kranzler video, at Gold-Eagle.com: Can The Rally In Gold and Silver Continue?
o o o
Nasdaq 100, Gold Price Forecast: Has the Fed Greenlighted a Santa Claus Rally?
A quote:
“For context, the Nasdaq 100 and gold prices have risen sharply in November, with the former surging nearly 11% and the latter rising around 3.80% since the beginning of the month. Their rally has been underpinned by falling U.S. Treasury yields and a dovish repricing of interest rate expectations, on the assumption that the Fed has finished its tightening campaign and will move into an easing cycle in 2024.
While policymakers have attempted to keep the door open to additional hikes and pushed back against rate cut bets earlier this year, recent communication has taken a turn toward a slightly more dovish tone.”
o o o
Reuter’s: Soft China and India may undermine gold’s rally hopes.
Economy & Finance:
At Barron’s: Opinion: The Fed Is Tightening More Than It Says..
o o o
Democrats introduce ‘billionaires tax’ on unrealized capital gains.
o o o
Reader C.B. sent this: Chinese Wealth Giant Crumbles: ZEG’s Insolvency Shakes Shadow Banking.
o o o
JPMorgan Chase to Shut Down Nearly 160 Bank Branches Across the U.S..
o o o
And D.S.V. sent us this: 64 US Bank Branches File To Shut Down In A Single Week; Are You Affected?
o o o
At Zero Hedge: Why Milei Must Shut Down The Argentina Central Bank.
o o o
Bumpy Inflation Says There’s More Rate Volatility To Come.
Commodities:
Franklin sent us this: Oil prices rise after drop on OPEC+ disappointment.
o o o
Another link from C.B.: Investors just lost in court over last year’s $12 billion nickel-trading fiasco sparked by Russia’s invasion of Ukraine.
o o o
From OilPrice News: Europe’s Insatiable Hunger for LNG.
Derivatives:
Banking System Vulnerability: 2023 Update. Here is an excerpt:
“Comparing the run vulnerability index under the two methodologies shows that the most notable difference is in the period since 2022, where the index is considerably higher due to the unrealized losses on securities increasing leverage (see the lower-right panel of the first chart of this post).
Considering the underlying components of run vulnerability in the chart below, we see that the increase in the index since early 2022 is mainly due to an increase in leverage, but that the other components— unstable funding and illiquid assets—have also increased over this period.”
o o o
Credit Suisse intervention avoided ‘financial crisis,’ Swiss National Bank chairman says.
o o o
U.S. Economy on Track for Major Crisis in 2024: Nomi Prins.
Forex & Cryptos:
The Euro’s 25-Year Absurdity: A Chart Reveals the Failings of Currency Union.
o o o
At Currency Thoughts: A Lack of Dollar Volatility in 2023 So Far.
o o o
Developing nations join the trend to ditch dollar for good.
o o o
Bitcoin ETF Approval Date Hinted By Expert: SEC Decision Expected January 5th – 10th, 2024.
o o o
300 Million Dogecoin (DOGE) Moved To Robinhood As Price Swells.
Tangibles Investing:
New home prices plunge 18%, surpassing 2008 depths, while defaults reach 2013 highs.
o o o
Where in America are we actually building new housing?
o o o
Palmetto State Armory (one of our affiliate advertisers) has started their 15 Days Of Christmas sale. Check out the bargains.
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!
