Silver Poised for Major Breakout: Key Levels to Watch
Silver has achieved its first significant upside breakout in three years, surpassing the $27 resistance. Now, all eyes are on the $30 barrier, which if overcome, could propel prices to $45-$55. Technical analysis indicates that silver is in the final stages of a 13-year “cup and handle” formation, setting the stage for a major advance. […]
Bitcoin Rallies on Cooling Inflation, Eyes New Highs
Bitcoin surged 6% to $66,300, breaking its stagnation and crossing above the key 50-day moving average, spurred by optimism over cooling U.S. inflation that also lifted the S&P 500 and other stock indices to record highs. This bullish move, alongside potential macroeconomic shifts and inflows to new Bitcoin ETFs, fuels optimism for a return to […]
Silver's Surge: Catching Up to Gold with Strong Industrial Demand
Silver is finally catching up to gold, with a year-to-date gain of 17.6% as of April 2024, outpacing gold’s 13.4%. This surge is driven by a significant supply deficit for the fourth consecutive year and robust industrial demand from sectors like photovoltaics, vehicle electrification, 5G technology, and AI applications. Despite market recalibration and interest rate […]
"Russian and Chinese are brothers forever" – Putin and Xi Challenge Western Dominance
During his visit to Beijing to mark 75 years of diplomatic relations, Russian President Vladimir Putin emphasized a “brothers forever” bond with Chinese President Xi Jinping. Both leaders presented their relationship as a stabilizing force against Western hegemony, specifically targeting US-led alliances and sanctions. Xi urged a peaceful resolution to the Ukraine conflict and the […]
Sticker Shock: Buying a Car in the US is More Expensive Than Ever
Despite improved production, car prices in the US remain sky-high due to lingering pandemic effects and soaring interest rates. The average new car price hit $48,759 in December 2023, driven by pent-up demand and high loan rates, with used car prices also elevated. While supply chain issues have eased, manufacturers have been slow to replenish […]
China Dumps Record Amount of US Debt Amid Strategic Diversification
China sold a record $53.3 billion in US Treasury and agency bonds in Q1 2024, marking a significant shift away from American assets as trade tensions with the US escalate. Analysts interpret this move as a deliberate diversification strategy, with China increasing its gold reserves to 4.9%, the highest since 2015. This trend, coupled with […]
Elite Hedge Fund's GameStop Bet Nets Millions Amid Meme Stock 400% Surge
Renaissance Technologies, an elite hedge fund, strategically acquired 1 million GameStop shares last quarter, reaping significant gains as the stock surged over 400% this week. Initially worth $13 million, the stake briefly soared to $65 million at Tuesday’s high, driven by renewed interest from retail investors like Keith “Roaring Kitty” Gill. RenTech, known for its […]
US Dollar Dominates Amid Global Economic Shifts
The US dollar continues to flex its muscles in 2024, driven by strong economic data and fewer expected Fed rate cuts. Despite global growth improvements and rising oil prices, the dollar remains resilient, while the euro, pound, and yen face mixed prospects. Key factors include potential ECB rate cuts, BoE policy shifts, and the Fed’s […]
Precious Metals "Red Hot" Rally Set to Continue, Say Strategists
Gold, silver, and platinum prices have surged following softer-than-expected U.S. inflation data, which raises the prospect of Federal Reserve rate cuts. Gold reached a three-week high, silver hit its highest level in over three years, and platinum climbed to a near one-year peak. Saxo Bank strategists predict gold could soon test $2,400, silver may reach […]
Copper Short Squeeze Rocks Global Markets as US Prices Soar
A massive short squeeze in New York has sent copper prices skyrocketing, with the Comex premium over the London Metal Exchange price surging to over $1,200 per ton. This unprecedented price spread has wrong-footed major traders and hedge funds, sparking a frantic scramble for copper to fulfill expiring contracts. Despite no overall physical shortage, the […]