Accelerated adoption of AI could automate 30% of Americans’ work hours: McKinsey

How is technology going to impact your job? Recent study is likely to reshape the jobs market. Learn more from this study by McKinsey.

The American banking landscape is on the cusp of a seismic shift. Expect more pain to come

“Rising interest rates, losses on commercial real estate and heightened regulatory scrutiny will pressure regional and midsized banks, leading to a wave of mergers, sources told CNBC.”

Over half a million silver coins just vanished – now the metals dealer behind the ‘fraudulent’ scheme must pay $146 million

The vault where precious metals dealer Robert Higgins claimed to be storing over half a million of his clients’ silver coins was found by investigators to be empty – except for little boxes of paper IOUs

New York returns ‘extraordinarily rare’ gold coin to Greece — after it set auction record for $3.5 million

New York officials have returned more than $20 million worth of ancient artifacts to Greece, including an “extraordinarily rare” gold coin commemorating the assassination of Julius Caesar which set auction records in 2020 as the most expensive coin ever sold.

Precious Metals Market to Hit USD 403.08 Billion by 2028

Yahoo News reports on a recent Research Report produced by Fortune Business Insights on the Precious Metals Market. The report examines trends, driving and retricting factors, and regional insights. View full report here: Precious Metals Market Size

Gold up 8% in 5 months, silver has delivered close to 5%; how to use them to your advantage

Platinum facing biggest deficit in years as carmakers snap up metal

A significant deficit of platinum has appeared in the market as carmakers increasingly purchase the metal to fulfill the need for platinum in vehicle catalytic converters to meet stricter emission standards. This deficit is expected to drive up the price of platinum which is good news for investors.

The new gold boom: how long can it last?

The rush to gold by the global elite is being mirrored by emerging market central banks. Last year central banks bought 1,079 tonnes of bullion — the most since records began in 1950.  As a result gold has been hovering close to its nominal all-time high of $2,072 per troy ounce — the traditional unit for precious metals — since late March. 

Central bank gold demand hits first-quarter record, investments surge on U.S. banking turmoil

Gold prices broke through the $2,000 per ounce barrier this week and are flirting with record highs as global economic uncertainty, a possible pause in Federal Reserve interest rate hikes and potential further trouble in the U.S. banking sector drive investors toward the precious metal.

About Half in U.S. Worry About Their Money’s Safety in Banks

Amid turbulence in the U.S. banking system, nearly half of Americans are anxious about the safety of the money they have in accounts at banks or other financial institutions. A total of 48% of U.S. adults say they are concerned about their money, including 19% who are “very” and 29% who are “moderately” worried. At the same time, 30% are “not too worried” and 20% are “not worried at all.”

Gold flirts with $2,000 level on softer US economic data

Gold prices firmed above the key $2,000 level again on Thursday as the dollar and Treasury yields pulled back after soft U.S. economic data strengthened the case for a pause in interest rate hikes by the Federal Reserve.

Gold shines as bets for US rate hike pause gather pace

Gold jumped on Wednesday as signs of cooling inflation bolstered bets that a pause in U.S. rate increases was imminent, although traders positioned for one more hike in May with minutes from the Federal Reserve’s March meeting also in focus.

Global Economic Recovery Endures but the Road Is Getting Rocky

The massive and synchronized tightening of monetary policy by most central banks should start to bear fruit, with inflation moving back towards targets.

Gold inching toward all-time highs as investors pile into the safe haven

Investors have been piling into gold, in anticipation of a Fed pivot as the US economy slows. A weaker dollar and a drop in the 10-year treasury yield are also signs of an expected ease in monetary policy which is helping buoy gold prices.

Gold, Silver, Platinum – Precious Metals Rally As Dollar Remains Under Pressure

U.S. dollar’s pullback provided material support to precious metals.

5 Things to Invest in When a Recession Hits

Precious metals, like gold or silver, tend to perform well during market slowdowns. But since the demand for these kinds of commodities often increases during recessions, their prices usually go up too.

Some Say It’s Time To Buy Gold

With precious metals rising in value, investors are exploring the safest and most profitable way to invest in gold. Gold is widely considered to be one of the safest and most reliable assets to hold during times of economic downturn or inflation. 

Gold rush still on for 2023, precious metals outperforming market last 6 months

Despite ongoing market volatility and a sluggish start to 2023, the price of gold and silver continues to outperform on Wall Street while maintaining an upward trend towards historic highs. 

Gold prices set for strong week as bank jitters spur safe haven demand

A rush into safe havens provided the biggest boost to gold, as the collapse of several regional U.S. banks ramped up concerns over contagion in the broader economy, as well as fears of a looming recession.

Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis

The collapse of SVB, a key player in the tech and venture capital community, leaves companies and wealthy individuals largely unsure of what will happen to their money

Stock market will crash in 60 days, best-selling author on Lehman collapse warns

“They’re playing catch up, and while they were doing quantitative easing in 2021, inflation started to rage and now they’re trying to catch up,” The Bear Traps Report founder Larry McDonald said Wednesday on “Mornings with Maria.”

Central Bank Gold Purchases Remain Steady Despite Potential Challenges in 2023

The world’s central banks accumulated 31 tons of the precious metal in January. Turkey was the largest gold buyer, adding 23 tons to its central bank’s stash, while the People’s Bank of China also purchased 15 tons of gold.

Gold, Silver, Platinum – Precious Metals Gain Ground As Demand For Safe-Haven Assets Grows

Gold rebounded towards the $1830 level amid rising demand for precious metals. The U.S. dollar was mostly flat against a broad basket of currencies, while Treasury yields moved higher in today’s trading session.

Retirees lost 23% of their 401(k) savings in 2022, Fidelity says

In a year marked by stiff economic headwinds, retirement savers paid the price.

Although the average 401(k) balance rose in the fourth quarter of last year, balances ended 2022 down 23% from a year earlier to $103,900, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans. 

How High Could U.S. Interest Rates Rise In 2023?

The Fed is now expected to hike rates at upcoming meetings in March, May and June according to interest rate futures.

Gold, Silver Rise as U.S. Inflation Data for January Released

Gains for the pair of metals were modest, each up 0.1%, and their first in four sessions. They follow U.S. inflation data which registered higher than expected.

‘Fed is not your friend’: Wells Fargo delivers warning ahead of key inflation report

As Wall Street gears up for key inflation data, Wells Fargo Securities’ Michael Schumacher believes one thing is clear: “The Fed is not your friend.”

He warns Federal Reserve chair Jerome Powell will likely hold interest rates higher for longer, and it could leave investors on the wrong side of the trade.

Look for stocks to lose 30% from here, says strategist David Rosenberg. And don’t even think about turning bullish until 2024.

There’s nothing right now in my collection of metrics telling me that we’re anywhere close to a bottom.’ He suggests owning bonds, gold, consumer staples and the Dogs of the Dow.

Silver Is Outpacing Gold. That’s a Good Sign for the Global Economy.

From Oct. 31 to Jan. 31, Comex silver futures climbed nearly 25%, outpacing gold’s almost 19% climb, a “statistically unusual amount that shows the precious metals market is bullish on global economic growth in 2023,” wrote Nicholas Colas, co-founder of DataTrek Research, in a Jan. 25 report.

Wall Street economist says recession in 2023 will look like biggest crisis of the 1970s

“People are too focused on ‘08 and 2020. This is more like 1973, 74 and 2021,” Piper Sandler chief global economist Nancy Lazar said on “Mornings with Maria” Monday.

Gold in 2022 saw its strongest annual demand in more than a decade, report finds

Annual global gold demand last year reached its highest since 2011, buoyed in part by record demand for the precious metal in the fourth quarter and the strongest gold demand among central banks since 1967, according to a World Gold Council report released Tuesday.

Russia and Iran plan a gold-backed stablecoin, while Brazil and Argentina seek a shared currency.

The dollar’s dominance of global trade and investment flows is facing a slew of new threats as many countries push plans to boost the use of alternative currencies.

Opinion: Gold in your 401(k)? It’s not as crazy as it sounds.

Three economists—Serkan Arslanalp and Chima Simpson-Bell at the International Monetary Fund, and Barry Eichengreen at UC Berkeley—have published a new report pointing out that gold, far from being on the way out as an international reserve currency, has been coming back in.

China’s first gold purchases since 2019 keep bullion bulls upbeat as Citic sees chance of record-breaking run in 2023

China’s first gold purchases in three years are giving market bulls a reason to be optimistic about the price outlook in 2023 after recent setbacks. Citic Securities, the nation’s biggest brokerage, predicts prices will break records this year.

Gold and silver boom predicted as US hits debt ceiling, dollar devalues

Ongoing inflationary pressures and increasing risk the federal government could default on its loans will likely see Wall Street traders rush to precious metals in 2023.

Silver prices could touch a 9-year high in 2023 — with a bigger upside than gold

Insufficient supplies of silver as well as its tendency to be a better performer than gold in periods of high inflation are key drivers supporting the outlook, analysts told CNBC.

Gold at $5,700? I like the sound of that

Dominic Frisby explains why the gold price could be set up for a major rally as sentiment towards the yellow metal shifts.

Gold’s bull market is just beginning as European fund managers take a bigger stake

(Kitco News) – The gold market has started 2023 on solid footing and one European-based fund sees strong potential as investors take a renewed interest in the precious metal.

Gold Prices Expected to Soar in 2023: Experts Predict Record Highs for Precious Metal

Gold is on the rise in 2023 and in the first week of the new year alone, the precious metal has jumped 2.36% against the U.S. dollar. Over the past 65 days, gold has soared 14.55% while silver has skyrocketed 22.31% against the greenback since Nov. 3, 2022.

Central Banks Are Buying Gold At The Fastest Pace In 55 Years

Central banks globally have been accumulating gold reserves at a furious pace last seen 55 years ago when the U.S. dollar was still backed by gold. According to the World Gold Council (WGC), central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, with global demand for the precious metal back to pre-pandemic levels.

LONDON — The price of gold notched a six-month high early Tuesday, and analysts believe the rally has further to go in 2023.

Spot gold peaked just below $1,850 per troy ounce before easing off to trade around $1,838 per ounce. U.S. gold futures were up 1% at $1,844.10.

The Fed took the punch bowl away when the party was already ‘pissed drunk’ and now a US recession is a sure thing, says top economist David Rosenberg

Strategist David Rosenberg skewers the Federal Reserve as he sees a 30% hit to home prices and the S&P 500 returning to an early 2020 low

Hedge fund star David Einhorn expects stocks to tumble – and warns unchecked inflation risks a market meltdown