Gold bugs vindicated by coronavirus rally
For Mr Kelly, gold is the only asset “without counterparty risk” that can protect against currency devaluation and uncontrolled spending by central banks to counter coronavirus. While inflation did not materialise after the global financial crisis in 2008 as many gold investors had hoped, he believes it will do this time. Since the US stopped backing its currency with gold in 1971, there was nothing to constrain central banks, he said. “Our founding fathers warned us about the evils of central banking,” he said. “We’ve got to the point now where you can print as much as you want but all you do is create hyperinflation. At some point, that’s very devastating.” READ ARTICLE
Shocking drop in wholesale gas prices signals more refinery cutbacks and gasoline under $1
Read more here: Shocking drop in wholesale gas prices signals more refinery cutbacks and gasoline under $1
Gold inches up on weak dollar, pandemic peaking hopes cap gains
Source: Gold inches up on weak dollar, pandemic peaking hopes cap gains – Reuters
Which equity markets and other asset trading exchanges are closed on Good Friday? Easter Monday?
Source: Which equity markets and other asset trading exchanges are closed on Good Friday? Easter Monday? – MarketWatch
Brief high-level introductory remarks by OPEC Secretary General
Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the 9th (Extraordinary) OPEC and non-OPEC Ministerial Meeting, 9 April 2020, via webinar.
Gold Flat as Wall Street Advances Despite Mounting U.S. Covid Deaths
Gold Flat as Wall Street Advances Despite Mounting U.S. Covid Deaths Source: Gold Flat as Wall Street Advances Despite Mounting U.S. Covid Deaths By Investing.com
Fed will keep rates near zero until economy has ‘weathered’ coronavirus impact, minutes show
Read the rest here: Fed will keep rates near zero until economy has ‘weathered’ coronavirus impact, minutes show
Exchange traded funds’ gold stash swells to record 3,185 tonnes – WGC
Source: Exchange traded funds’ gold stash swells to record 3,185 tonnes – WGC – Reuters
Dow up more than 250-points a day after the most dramatic U-turn for stocks in 12 years
Source: Dow up more than 250-points a day after the most dramatic U-turn for stocks in 12 years – MarketWatch
Expectations for an oil deal remain low ahead of crucial OPEC+ meeting
Read the rest here: Expectations for an oil deal remain low ahead of crucial OPEC+ meeting