In the face of their first big test since popularization, crypto-currencies are not faring well. Jemima Kelly reports of bitcoin for FT's Alphaville (abridged): For a brief moment there, it really did feel like the good old days. Bitcoin shot up from about $5,200 to about $5,900 just after the Fed’s announcement. This was the beginning of something special, wasn’t it?! Alas, no. This bouncing cat, it turned out, was lifeless. For those fleeting moments after the Fed announcement bitcoin could thrive; could be free; could resume on its slow but unstoppable trajectory toward the moon. But … [Read more...]
Gold, Silver, and Currencies
Young Research & Publishing has been providing research and insights on precious metals and currency markets to institutional investors, corporate financial officers, business owners, and individual investors for over four decades. Richard C. Young started Young Research & Publishing in the 70s to publish the authoritative Young's World Money Forecast, a 50-page monthly investment report on the precious metals and currency markets. Today, our research on gold, silver, and currencies is geared toward investors in or nearing retirement who are looking to preserve and protect wealth.
Bitcoin: A Store of Value?
We hear a lot about Bitcoin being the new and improved "digital gold." Bitcoin is a store of value the bulls contend. Maybe, but since the market peaked on February 19th, Bitcoin is down more than 30%. For the year, Bitcoin is down 14%. How about that old barbarous relic, gold. Gold is up 7% on the year. … [Read more...]
Could Gold Rally to Record High in Response to Stimulus?
Could the price of gold rally to a record high of over $2,000 as central bankers print more money? According to Greg Jenson of Bridgewater Associates, the answer is yes. Jennifer Ablan reports Jenson's prediction in The Financial Times: Mr Jensen, who helps oversee more than $160bn at the Connecticut-based group, told the Financial Times he believed the Federal Reserve, in particular, would let inflation run hot for a while and “there will no longer be an attempt by any of the developed world’s major central banks to normalise interest rates. That’s a big deal”. At the same time, … [Read more...]
What the Iran Situation Means for Gold
Since the end of 2019, gold prices have been on a breakout trajectory. Now, in response to rising tensions with Iran, things are getting very interesting. The news that the United States had bombed Iranian Major General Qassem Soleimani increased the perception of risk in the Middle East, and drove the price of gold even higher. I have always suggested to investors that they maintain a gold component in their portfolios, not as a road to riches, but as an insurance policy against inflation, disaster, and war. Typically when every other assets’ price is falling, gold’s is … [Read more...]
The Silver Lining in the Iran Conflict
Originally posted on Your Survival Guy. … [Read more...]
How Early Markets Reacted to the U.S. Airstrike that Killed Maj. Gen. Qassem Soleimani
Yesterday, a U.S. airstrike killed Maj. Gen. Qassem Soleimani, leader of the foreign wing of Iran’s Islamic Revolutionary Guard Corps. News of the strike and the general's death sent safe-haven asset prices higher as investors priced in greater risk in the Middle East. Assets such as gold and the 10-year U.S. Treasury note saw their prices rise as investor sentiment weakened. Gold was up 1.4% while the 10-year was at 1.827% Friday morning from 1.880% on Thursday (a drop in yield reflects an increase in price), while DJIA futures were down 226 pts pre-open. Is this a New Year’s prediction … [Read more...]
Sweden Raises Rates—All the Way to Zero
After being one of the first countries to lead the world into the negative interest rate era, Sweden has decided to end that policy. Paul Hannon reports in The Wall Street Journal: In 2009, the Riksbank, the world’s oldest central bank, became the first to charge commercial banks to hold deposits rather than pay them interest. In 2015, it lowered its key policy rate below zero, following a similar move by the European Central Bank the year before. On Thursday, the Riksbank raised the key rate to zero from minus 0.25%. The bank moved because a majority of its policy makers expect inflation … [Read more...]
Your Retirement Life: No Gold/Silver in Safe Deposit Box
A son of long-time subscribers to Richard C. Young’s Intelligence Report emailed me last week about a letter his parents had received from their bank branch. Not a phone call to set up a meeting, a letter. According to him, the bank sent the letter to his parents stating that no gold or silver would be allowed in the bank’s safe deposit boxes. There was no explanation for the change in the letter. The note wasn’t from a small local bank on Main Street, USA. This bank is one of the biggest players in the world. Its regional branches extend like tentacles to every street corner … [Read more...]
Is Brexit Good or is Brexit Bad?
The British pound soared yesterday on news that the Conservative Party won a large majority, thereby ensuring the U.K. leaves the European Union. When the U.K. initially voted to leave the European Union in a 2016 referendum, the pound cratered 11% on the news. So is Brexit good or is Brexit bad? It would seem traders may have changed their minds. Warren Buffet is fond of saying that investing is simple, but not easy. When it comes to currency investing, maybe it isn’t so simple either. … [Read more...]
Here’s Why You Should Treat Your Disaster Cash like Gold
In a true catastrophe, the value of your dollars may plummet to zero, and all you'll be left with is your gold, canned goods, and ammo for bartering. That would be a terrifying scenario for sure. That said, most disasters you'll face in life won't impact the value of your cash, but they could very well impact your access to your bank account. I've been writing to you recently about how the wealthy are moving their money out of bank accounts and into more traditional safety deposit boxes. For large amounts of cash you wouldn't want unattended at home, safety deposit boxes are a great idea. … [Read more...]
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