Curated news and insights for precious metals investors
Gold is gaining momentum again, rising roughly 10% over the past month as investor interest in precious metals picks up. But silver has moved even faster, climbing about 16% in the same period. The article points to growing industrial demand, continued supply constraints, and renewed interest in metals, paying particularly close attention to silver.
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The U.S. 30-year Treasury yield surged above 5.2%, reaching its highest level since 2007 as a global bond sell-off gathered momentum. Rising yields reflect growing pressure from inflation concerns, large deficits, and the continued expansion of government borrowing.
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The U.S. government ran a $432 billion budget deficit in July. The largest monthly shortfall since March 2021. That brings the deficit for the fiscal year to roughly $1.8 trillion with two months still remaining. Persistent deficits mean more government borrowing, which can put upward pressure on interest rates and borrowing costs throughout the economy.
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Veteran commodities strategist Jeff Currie has changed his outlook on gold, moving from bearish to bullish as central banks continue to accumulate the metal. Currie points to strong buying from emerging-market central banks looking to diversify their reserves, a long-term source of demand that he believes could continue supporting gold.
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Something unusual just happened in the global currency markets. Japan has been struggling with a sharply weakening yen, which recently fell to levels not seen against the U.S. dollar in roughly 40 years. In response, Japan stepped into the currency market to try to strengthen the yen.(Reuters) But this time, the United States joined in. …
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