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, another examination of silver pricing. (See the Precious Metals section.)

Precious Metals:

You may have noticed that after a recent excursion into the $29.50 per Troy ounce range, the price of spot silver has bounced back.  Early this week, it was very close to $31 per Troy ounce. And on Thursday morning (July 10, 2024) it hit $31.88 per Troy ounce. It settled to $31.52 in the late afternoon.  I’m still holding to my assertion that $30.50 is now the floor for spot silver. Whenever the Forever Shorts in London and Chicago knock down the price of silver, it bounces back quickly, in Asian trading — just like clockwork.

Meanwhile, spot gold touched $2,429.10 per Troy ounce on Thursday. That is nearing the $2,450.05 all-time record high, that was set on May 20, 2024.

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Hub Moolman: Silver and Gold: Insurance Against US Monetary Collapse.

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Even Nigeria Plans To Bring Gold Reserves Home To Minimize Risk.

Economy & Finance:

A video clip over at X: Jiangxi Bank of China went bankrupt.

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Some important news:  Goldman Sachs Fails Fed Stress Test.  JWR’s Comment:  Nothing to see here, move along…  Seriously, folks: It is high time to diversify your deposits among several institutions. If and when we see bank runs, there could be substantial delays before your FDIC/FSLIC-insured deposits are reimbursed.

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Oklahoma, Alabama Now Have AI-Powered Vending Machines That Sell Bullets. JWR’s Comment:  The writer of course meant “Cartridges” rather than “Bullets” for the headline, but what can you expect from a Gen-X urbanite?<

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NBC News: Fed Chair Powell says holding rates high for too long could jeopardize economic growth.

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From reader C.B.: JPMorgan warns 86 million customers they might have to start paying for their bank accounts.

Commodities:

At Zero Hedge: The Nationwide 500,000 EV Charger Charade.

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Oil settles higher on hopeful demand outlook as US oil stocks sink.

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NAB (Australia): Minerals & Energy Outlook: July 2024.

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From OilPrice News: Deep-Sea Mining Rush Sparks Environmental Concerns.

Inflation/Deflation Watch:

The Consumer Price Index (CPI) was 3.0 percent (annualized) in June. This was slightly lower than expected.

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Key takeaways from Fed Chair Powell’s testimony on Capitol Hill.

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A handy chart, over at Trading Economics: Inflation Rates, By Country.

Forex & Cryptos:

At Currency Thoughts: Tight Labor Market Likely to Delay Fed Rate Cut Further.

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Trump surprises crypto community with Bitcoin Conference attendance.

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Crypto thieves have stolen $1.38 billion in crypto this year.

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Meet the hackers who can help get your crypto life savings back.

Tangibles Investing:

Forever Stamp rate increase on Sunday, July 14, 2024.

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These knives are now fetching $200 each: Rawles Cold Steel Voyager. If you bought one of these back when they were first released, I hope that you saved the factory box!

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Yes, pre-1899 Mausers can be quite accurate, even with their original iron sights: 600 Yard Challenge: M1895 Chilean Mauser.

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!