Metals Stocks: Gold prices rise ahead of closely watched Fed inflation gauge

Oct 1, 2022

Gold prices finished a touch higher on Friday as investors weighed data that showed hot U.S. inflation cooled its pace last month. Gold for June delivery  GC00, -0.22% GCM22, rose $3.70, or 0.2%, to close at $1,851.30 an ounce on Comex. Silver  SI00, -0.43% SIN22, -0.43% rose 0.7% to $22.096 an ounce. The U.S. inflation rate, as measured by the personal-consumption expenditures index, rose just 0.2% in April for its smallest monthly increase in a year and a half, due largely to a decl ...read more

WOLF STREET Mug Shortage Decision Time: Please Weigh in if You’re on the “Mug List,” and Even if You’re Not

Oct 1, 2022

Wait for the original mug (no confirmation it will ever be produced again), or grab the mug I can get. By Wolf Richter for WOLF STREET. It has been over one year since I re-ordered the WOLF STREET beer and iced-tea mugs. They’re adorned by the essential WOLF STREET dictum, “Nothing Goes to Heck in a Straight Line.” San Francisco artist Erika “Kitten” Lopez created the three-color art. I re-ordered the mugs on May 31 2021, while I still had enough to get me to November. And they ...read more

(VIDEO) Treasury Secretary Admits She Was Wrong About Inflation

Oct 1, 2022

Augusta cannot guarantee, and makes no representation, that any metals purchased by a customer will appreciate at all or appreciate sufficiently to make a profit, and there is no certainty that any metals can be sold for a profit. The future value of the coins you purchase cannot be predicted. You could lose money. Don't purchase Augusta products with money you can't afford to lose. Prices may rise and fall over time or rapidly. Past performance of any coin does not guarantee future results. Pr ...read more

Fed makes aggressive move to tackle white-hot inflation

Oct 1, 2022

Washington, DC (CNN)The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday in an aggressive move to tackle white-hot inflation that is plaguing the economy, frustrating consumers and stifling the Biden administration. It's the largest rate hike since 1994, and will affect millions of American businesses and households, pushing up the cost of borrowing for homes, cars and other loans in order to force a slowdown in the economy. Until this week, economist ...read more

Retail Sales Report, May: In Foulest Mood Ever, Consumers Still Spent Hugely at Retailers, Fighting Inflation where they Can

Oct 1, 2022

Spent $20 billion more at gas stations, compared to a year ago, due to spiking prices; came out of hide of other retailers. Inflation eats everyone’s lunch. By Wolf Richter for WOLF STREET. Retail sales in May, not seasonally adjusted, jumped to $698 billion, the second highest ever, behind only December’s shopping-season splurge, and up 8.2% from the stimulus-miracle bonanza a year ago. On a seasonally adjusted basis, retail sales in May dipped by 0.3% from April, after having jumped ...read more

Seventh Largest US Importer Cuts Shipments in Half, Shipping Rates Crash

Oct 1, 2022

Samsung's planned shipments in July have been halved. We will see more manufacturers make similar announcements as the bullwhip crashes the upstream supply chain. Comment Samsung Cuts Shipments In Half Food and Energy Strength Supply Chain Inflation Has Peaked  Scrap steel in the gutter. Many things headed that way. Retail Sales Flounder in May With Negative Revisions in April As noted on June 15, Retail Sales Flo ...read more

Colombia's new leftist president Petro promises to fight inequality - Reuters

Oct 1, 2022

Register now for FREE unlimited access to Reuters.com BOGOTA, June 20 (Reuters) - The third time was the charm for Gustavo Petro, the leftist firebrand, former guerrilla and newly elected Colombian president who credits his political awakening to seeing his father weep over the death of revolutionary Che Guevara. The 62-year-old senator and former mayor of capital Bogota, jailed for his youthful role in the M-19 guerrilla group, won 50.4% of votes in a close vote on Sunday, beating the po ...read more

Eurozone Yield Spreads Blow Out, It's Another Crisis For Greece and Italy

Oct 1, 2022

Once again, the ECB has a crisis on its hands as 10-year bond rates in peripheral Europe widen relative to Germany. Average Bond Interest Rates Through April from Europa, May 2022 is the current yield on 2022-06-06 ECB Policymakers Will Ask Lagarde to Be Tough on Fragmentation Widening spreads have the ECB alarmed. The Bloomberg article ECB Policymakers Will Ask Lagarde to Be Tough on Fragmentation is what inspired this post.  European Central Bank policymakers wil ...read more

“True” Unemployment Over 20% Says Economic Think Tank

Oct 1, 2022

“True” Unemployment Over 20% Says Economic Think Tank Isaac Nuriani    | Jun 18, 2022 Unemployment numbers seem good but don’t include several types of workers. One institute says the rate of those who can’t make a living is 52%. Listen to the Article Digest Your browser does not support the audio element. A lot of economic numbers are flying around these days. And few – if any – seem to be where we want them. Take consumer sentiment, for example. No soo ...read more