Gold Silver Reports (GSR) – While the US and global economies have continued as usual since the Fed and central banks stepped in and propped up the collapsing markets in 2008, this was a one-time deal that can’t be used again.
Global Economic
Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.
European Central Bank (ECB) said it would Delay its First Post-Crisis interest Rate Hike until at Least the Middle of Next Year.
Gold Silver Reports (GSR) – The euro climbed higher against the U.S. dollar on Thursday, after the European Central Bank (ECB) said it would delay its first post-crisis interest rate hike until at least the middle of next year. In a move that was well-flagged, ECB President Mario Draghi also offered to pay banks if they borrow cash from the central bank and pass it on to households and firms.
US-China Trade Talks Reportedly Hit a Snag Because US ‘Kept Adding New Demands’ to Negotiations – Latest Report by The SCMP
The report cites two separate sources in saying that the breakdown in US-China trade talks arose as China’s Liu He met up with US’ Lighthizer and Mnuchin only for the US side to make additional demands in the late stages of the negotiations.
Gold Prices Slip Focus Shifts to Fed Decision
Gold Silver Reports (GSR) – Spot gold was down 0.3 percent at $1,278.92 per ounce at 0630 GMT, while U.S. gold futures fell 0.4 percent to $1,280.70 an ounce.
US Fed ‘Patient’ on Further Rate Hike: FOMC Minutes
The latest minutes of the US Federal Reserve (Fed) monetary policy meeting showed that the central bank was still “patient” on further rate hikes.