(Kitco News) The strong employment report proved that the US economy is still expanding despite two consecutive negative quarterly GDP releases. And for gold, this means that the price rally could be at risk, according to TD Securities. In reaction to the US economy adding 528,000 jobs in July, gold lost … Read more
Investors pulled 29 billion euros ($29.6 billion) from bond giant Pimco in the second quarter, its parent Allianz SE ALV, -1.57% said on Friday, highlighting nervousness in the fixed income sector as inflation rages and central banks hike interest rates. Revealing its results, the German insurance group said overall third-party assets under management dipped by … Read more
(Kitco News) With the surprisingly strong employment situation in the US, the Federal Reserve won’t be pivoting from its aggressive tightening cycle in September, which will hurt gold in the short term, according to analysts. The focus next week will be on the highly-anticipated inflation numbers. Gold lost 1% in reaction … Read more
More than 80% of the S&P 500 index’s companies have reported second-quarter results so far, and at least five key takeaways have emerged — including that Wall Street was far more worried about the coming earnings season than it needed to be. That doesn’t mean investors were wrong; the numbers and management commentary have confirmed … Read more
(Kitco News) Gold breached the coveted $1,800 an ounce level Thursday on increased geopolitical tensions between the US and China. But the upcoming Friday’s employment report could disrupt momentum, according to analysts. December gold futures rose $33 on Thursday, touching a daily high of $1,812. At the time of writing, prices … Read more
The financial market’s most knowledgeable inflation traders are expecting a string of roughly 8.8% annual headline US consumer-price readings over the next three months, starting with the Aug. 10 release of July’s dates. While such readings would be below June’s 9.1% reading and support the theory that inflation may have peaked at an almost 41-year … Read more
It’s an island off the coast of China, with a land area comparable to Maryland and Delaware combined. Its population is about 1 million higher than that of Florida. Often overlooked in world headlines, Taiwan is grabbing the financial market’s attention as the biggest macro risk of the day, prompting many traders and investors to … Read more
It’s still summer, and if you plan to travel soon, be prepared to see inflation at nearly every step along the way. According to a May NerdWallet survey, nearly 7 in 10 Americans planned to travel between Memorial Day and Labor Day, and among them, 81% said inflation would impact their plans. This number spiked … Read more
AFP via Getty Images TLDR: Fake inflation report circulates before official announcement of 9.1% CPI in the year to June Further Fed rate hikes expected, with some analysts predicting a 1.00 percentage point increase to 2.75% at the end of July The Q2 earnings season has begun with Wall Street bellwether JPMorgan announcing a 28% … Read more
Debate has been simmering over whether Federal Reserve policy makers will raise the fed-funds rate by three-quarters of a percentage point later this month, as they did in June, or step up their inflation-fighting campaign with a full point hike —- something that hasn’t been seen in the past 40 years. Friday’s economic data, which … Read more