Gold price holding steady following mixed U.S. housing construction numbers
Gold prices are holding gains above $1,600 following mixed construction activity in the U.S. housing sector picked up in January.
Commerce Department said on Wednesday that U.S. housing starts fell 3.6% to a seasonally adjusted annual rate of 1.567 million units in January, down from December’s revised rate of 1.626; however, the data handily beat expectations as consensus forecasts were calling for the annual rate to drop to 1.40 million units. At the same time, building permits data, which is a precursor to future projects, was up 9.2% at 1.4551 million last month, up from December’s revised level of 1.42 million units. Economists were expecting to see 1.45 million permits.
The latest housing data is not having much impact on gold as prices have held relatively steady in initial reaction. April gold futures last traded at $1,608.80 an ounce, up 33% on the day… (Continue to full article)
Gold holds gains after Jan. U.S. producer prices jump 0.5%
Spot gold held overnight gains after a Labor Department report showing that U.S. producer prices for finished goods jumped by a seasonally adjusted 0.5% last month. Spot gold was last up $5.40 to $1,606.60 an ounce.
The core index for PPI, excluding the volatile food and energy sectors, was up 0.3%.
Going into the report, consensus expectations compiled by news organizations had been for a rise of 0.1% or 0.2% in the headline figure. The core rate was expected to be up 0.1%… (Continue to full article)
Gold tests the panic high; SILVER breaking out
The metals continue to surge, as gold tested the Jan. 8 overnight, silver may reverse, and platinum continues to run. This action can be either bullish or bearish, based on how the metals trade the next couple of days.
Gold and platinum are in a possible blow-off formation, which means that this breakout out should fail, followed by some consolidation, before resuming the rally. The higher volume and price action indicate a slight pullback is close; however, the pattern remains bullish.
Silver is in the process of breaking out… (Continue to full article)
The U.S. Economy is RIGGED, & it Isn’t to favor you
Most Americans correctly believe that the United States economy is rigged and manipulated. While most don’t understand how (The Federal Reserve, lobbying, and taxation) it’s done, businesses and government regularly collude to create an economy most favorable to their own wealth and power goals… (Continue to full article)
Strange Stuff on Wall Street: Big Job Cuts, Fed Bailout, Record Markets
HSBC has become the latest bank with a big Wall Street footprint to announce job cuts. After announcing that its 2019 profits fell by about a third, it said it would cut 35,000 jobs over the next three years. Some of the job cuts are expected to fall within its investment banking business in the U.S.
The HSBC news comes amid a steady drumbeat of similar news on Wall Street. In July of last year, another European bank with heavy derivative ties to Wall Street, Deutsche Bank, confirmed plans to cut 18,000 jobs. In the same month, Bloomberg News reported that Citigroup would be cutting hundreds of trading jobs. Then in September Commerzbank announced it would trim 4300 jobs. That news was followed by CNN reporting in December that Morgan Stanley would cut 1500 jobs… (Continue to full article)
Bloomberg Has Built a Star Wars Machine to Try to Steal the Democratic Nomination
Bloomberg is used to getting his way. After serving two terms as New York City’s Mayor as a Republican, he used his own vast stash of cash to repeal term limits and give himself another four-year term, running as an Independent. Now he has promised to do the unprecedented: spend $1 billion of his own money to install himself as President of the United States, running on the Democratic ticket… (Continue to full article)
The Betrayal Of The Elites
We need institutions, including families, associations, churches, corporations, trade unions, political parties, professions such as law and medicine, as well as the formal institutions of government such as Congress, the presidency, and the courts.
They are, as Levin puts it, “the durable forms of our common life.” They serve purposes or missions, like educating the young, resolving disputes, or defending the country. They give life meaning by assigning roles, teaching self-control, and enforcing standards. In the process, they form the character of those who participate in them.
But we no longer trust them. What went wrong?… (Continue to full article)
[Got physical… close at hand?]
Let’s do something about that…
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