Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal. Finance ministers of the 19-nation currency bloc failed to make any breakthrough on a cash-for-reforms agreement at talks…
Euro Zone Sets Emergency Summit on Greece as Money FleesDetailsThe U.S. economy is nearly six years into its current economic expansion cycle and overall economic numbers continue to disappoint. Friday’s news that the U.S. economy contracted by 0.7% in the first quarter is expected to be a temporary blip in overall economic growth, but the current recovery phase remains limp and lackluster at best…
Six Years Later, U.S. Economy Still UnderperformsDetailsInvestors might want to add a little cash and some gold to their portfolio’s summer outfit. So say analysts at Bank of America Merrill Lynch, who are forecasting a grim summer for stocks this year. In other words, it might be wise to apply ample dollops of market-correction block in addition to any sunscreen you…
Bank of America Is Forecasting a ‘Scary Summer’ for the Stock MarketDetailsChina has set up its largest gold-investment fund ever, expected to total 100 billion yuan ($16 billion), aiming to invest in mining projects in the region and enhance Chinese influence in global gold markets, local media reports said Wednesday. The “Silk Road Gold Fund” — led by the Shanghai Gold Exchange and others — is…
China Sets Up Giant Gold Fund to Expand Its Market PowerDetailsStill feeling uncomfortable about that tax bill you owed last month? Think about it this way: If you didn’t pay it, America’s fiscal future would look even worse than it does now, six years out from the financial crisis. Driven by higher interest costs, Social Security and Medicare for baby boomers, as well as tax…
America's Future Got $7 Trillion Worse Since the Financial CrisisDetailsGold futures were flat on Monday after rallying to their biggest monthly gain in three years last week but the precious metal is poised to strengthen with U.S. stocks under pressure. Gold for April delivery on Comex GCJ5, -0.23% settled at $1,279.20 an ounce, unchanged from Friday, while March silver SIH5, -1.70% climbed 43 cents, or 2.6%, to $17.21 an ounce.…
Gold Takes Breather after Biggest Monthly Rise in 3 YearsDetailsInvestors’ desire for precious metals is deepening after Mario Draghi’s $1.2 trillion pledge drove gold to a five-month high and silver to the brink of a bull market. Their buying helped boost the value of exchange-traded products backed by gold and silver by $8.2 billion this month, the most since September 2012, data compiled by…
Precious Metals Coveted Once More as Draghi Acts: CommoditiesDetails(Kitco News) – The race to the bottom in currency markets continues to heat up and in a potential currency war some analysts see gold as the biggest winner. Singapore’s central bank surprised the markets this week by loosening its monetary policy. On Wednesday, the Monetary Authority of Singapore (MAS), which uses its exchange rate as…
Gold Wins In A Global Currency War - AnalystsDetailsThe Fed’s preferred measures of inflation are so low they’re in the Fed’s panic zone. What gives? “There’s an ideal playbook, and it would look something like this,” James Rickards, author of the New York Times bestseller Currency Wars,explained. “You’d have higher inflation than we have today, but not…
China Working Quietly to Buy Up GoldDetailsUkraine’s next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production. The Ukrainian military’s showdown with separatists in the industrial east has forced…
Ukraine’s Next Crisis? Economic DisasterDetailsWASHINGTON (AP) — Unemployment rates rose in 30 U.S. states last month, even as employers in two-thirds of the states stepped up hiring. The trends reflect an increase in job-hunters nationwide as an improving economy has encouraged more people to seek work. The Labor Department said Monday that unemployment rates fell in eight states in…
Unemployment Rises in Most U.S. States in JulyDetailsInvestors seem hopeful that Russia and the West can step back from their standoff over Ukraine. There are still plenty of reasons, though, for central bankers to be concerned. Markets around the world rallied this week, helped by indications of reduced tensions in Ukraine. Russia withdrew troops from the border.
Why Central Banks Worry about UkraineDetailsYou have been signed up for price alerts for this product.
