Central banks worldwide increase reserves by 20 tons in August – World Gold Council

Editor’s Note: Stay tuned for the daily news with so much market volatility! Catch up in minutes with our quick round-up of the news to read today and expert opinions. Register here! (Kitco News) – Central banks continue to provide vital support to the gold market; however, data collected by the World Gold … Read more

‘A deep and severe recession is coming’ as the ‘aggressive’ Fed continues to tighten – Ronald-Peter Stoeferle

A severe recession could set in if the Federal Reserve continues to tighten and the dollar strengthens, said Ronald-Peter Stoeferle, Managing Director at Incrementum AG. “We’re seeing a very aggressive Federal Reserve now,” he said. “In addition, we are seeing a quantitative tightening begin, at $95 billion per month [of assets … Read more

Federal Reserve swears ‘pain’ and vows to cut workers’ wages

On Wednesday, the US Federal Reserve raised Federal Funds interest rates by three-quarters of a point, continuing the fastest rate of rate hikes since the 1980s. The move will immediately raise the cost of home mortgages, auto loans and credit cards for working-class and middle-class families already struggling with the highest rate of inflation in … Read more

Markets plunge into the red as interest rate hikes heighten economic concerns

m Markets in London and across Europe fell Thursday as a series of rate hikes further exacerbated the economic gloom facing traders. The Bank of England was the last central bank to launch a major rate hike on Thursday, when it raised interest rates to 2.25%, representing a nearly 14-year high. The rise was lower … Read more

Gold Prices Soar as Fed’s Powell Talks Recession Chance and Restrictive Rates

(Kitco News) Gold wiped out its initial Fed-driven losses and rose more than 1% on the day. Prices responded to comments from Federal Reserve Chairman Jerome Powell about the recession and peak rates after a third consecutive 75 basis point rise on Wednesday. Comex gold futures for December approached $1,700 an ounce … Read more

The biggest Fed rate hike in 40 years? It may come next week.

Desperate times call for desperate measures, and times are, arguably, increasingly desperate. Continued high inflation could force the Federal Reserve to resort to the largest hike in a major US interest rate in more than 40 years. After another dismal inflation report in the US, economists at the brokerage Nomura Securities became the first on … Read more

The Fed is ready to ‘hurt’ the economy to drive down inflation; stocks, Bitcoin to see more downside – Alfonso Peccatiello

The Fed will “hurt” to bring inflation back to 2 percent, said Alfonso Peccatiello, author of The Macro Compass. The resulting central bank policy will negatively impact stocks and cryptocurrencies. In his August 26 address in Jackson Hole, Federal Reserve Chairman Jerome Powell took an aggressive tone, saying that cutting … Read more

The pain of breaking inflation will reverberate around the world, top financial chiefs say

A man arranges for products at Best World Supermarket, in Washington, on Aug. 19.SARAH SILBIGER/Reuters The message from the world’s top financial leaders is loud and clear: rampant inflation is here to stay and taming it will require extraordinary effort, most likely a recession with job losses and shockwaves in emerging markets. However, that price … Read more

Iran nuclear deal keeps oil markets on edge

The price of crude oil began to fall Friday after Federal Reserve Chairman Jerome Powell spoke for just 8 minutes and warned that pain was coming. Friday 26 August 2022 Oil prices have been in limbo this week, with ICE Brent trending around $100 a barrel as the market zoomed in on the prospects of … Read more