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Gold, silver and platinum’s red-hot rally still has further to go, strategists say

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum in Munich. KEY POINTS Precious metal prices got a major boost Wednesday after softer-than-expected U.S. inflation data heightened the near-term prospect of rate cuts from the Federal Reserve. Gold prices on Wednesday settled at [...] READ MORE

Currency volatility: Will US dollar strength continue?

Key takeaways The prospect of fewer interest rate cuts in the U.S. has taken the dollar to new highs — and should underpin its resilience going forward. If the European Central Bank (ECB) cuts interest rates sooner than the Federal Reserve (Fed), this will widen the rate gap between the U.S. and the Eurozone, putting [...] READ MORE

An elite hedge fund bought 1 million GameStop shares before the meme stock’s 400% surge

Renaissance Technologies bought 1 million GameStop shares last quarter A top hedge fund built a GameStop stake from scratch last quarter ahead of the meme stock's surge. Renaissance Technologies' 1 million shares were briefly worth $65 million at Tuesday's high. RenTech, founded by the late Jim Simons, also boosted its AMC bet and pared Tesla [...] READ MORE

China Sells Record Sum of US Debt Amid Signs of Diversification

China sold a record amount of Treasury and US agency bonds in the first quarter, highlighting the Asian nation’s move to diversify away from American assets as trade tensions persist.   Beijing offloaded a total of $53.3 billion of Treasuries and agency bonds combined in the first quarter, according to calculations based on the latest [...] READ MORE

Why Buying a Car Is More Expensive Than Ever in the US

Pent-up demand left over from the pandemic is keeping sticker prices high even as factory production has returned to full strength. The cost of car ownership in the US surged after Covid shut down assembly lines and made vital semiconductors scarce. Then the Federal Reserve rapidly raised interest rates to combat high inflation, making car [...] READ MORE

‘Brothers Forever’: Putin, Xi Agree That Deepened Ties Project Stability Against West’s ‘Unilateral Hegemony’

Russian President Vladimir Putin is in Beijing visiting his Chinese counterpart Xi Jinping on the occasion of the 75th anniversary of the establishment of diplomatic relations between the two countries.   On the first day of the two-day state visit, which includes top Russian defense and security officials, Putin referenced Russia being "brothers forever" with [...] READ MORE

Silver Is Ready to Break Out. What to Watch For.

Once silver breaks the $30 barrier, it can head as high as $45-$55 Spot silver has scored its first upside breakout in three years. The weekly chart below shows just how significant the breakout is. Resistance at $27 an ounce had been a barrier for almost four years. The two red arrows are bearish reversals [...] READ MORE

Ray Dalio believes there’s a 35% or even 40% chance of a civil war in the U.S.

A shot from the dystopian current movie “Civil War,” in which an internal conflict breaks out in the U.S. — an outcome Ray Dalio believes the U.S. is “on the brink” of. Hedge-fund billionaire can foresee people moving to states that align with their political views while refusing to abide by rules made by federal [...] READ MORE

Gold shines amid geopolitical uncertainties

The World Bank’s precious metals price index climbed 9 percent in April 2024 (m/m), continuing its upward trajectory from the first quarter. Gold reached a new nominal record in April, while silver approached its early 2021 record. Platinum prices also rebounded during the month. Strong demand, fueled by heightened geopolitical tensions, has been supporting the [...] READ MORE