Growing concern about the impact of trade tensions on the economic outlook, another spike in Italian borrowing costs, fraught Brexit talks and volatility in world markets make for a colorful backdrop to Thursday’s European Central Bank meeting.
United States
U.S. Mega Millions Jackpot Reaches $548 Million, Its Third Largest
Gold Silver Reports (GSR) — It is the stuff that dreams are made of: A little computer printout with numbers on it. And on Friday night, one of them could be worth more than half a billion dollars.
Gold Prices Slip, Nicked by Rising Bond Yields – Gold Silver Reports
Gold futures inched lower on Wednesday as elevated bond yields hovered near their steepest since 2011, dulling demand for the precious metal.
Gold Slides Alongside Equities as Dollar Climbs – Gold Silver Reports
Gold fell alongside equity markets on Monday partly in response to gains in the dollar which is benefiting from a run of strong U.S. economic data reinforcing expectations of further interest rate rises.
China and European Woes Weigh on Equities But Buy the Dollar
The markets are having a rough adjustment to the return of the Chinese markets are the week-long holiday. The cut in the required reserves failed to lift investor sentiment. The Shanghai and Shenzhen Composites fell almost 4%, and the yuan slid nearly 0.8%. It is an unusually large decline for the closely managed currency.
China: More retaliation on the way
With trade tensions with the US only set to increase, we expect the People’s Bank of China to allow the yuan to depreciate to 7.00 by the end of this year
Euro Slides After Italian Lawmaker Talks Up National Currency – Neal Bhai Reports
The euro fell to a six-week low on Tuesday after a senior lawmaker in one of Italy’s ruling parties said most of the country’s problems would be resolved if it readopted a national currency, triggering a broad market sell-off.
Gold Up But on Path for Longest Monthly Losing Streak in Two Decades – GSR
Gold inched higher but was on track for its longest monthly losing streak since January 1997 as the U.S. dollar firmed against the euro after Italy’s budget jitters threatened the European currency.
Silver Weekly Performance Report: Fighting The Bearish Momentum
📌 Silver has a tough year, down 16% YTD.
📌Spec positioning in Comex silver is extremely negative, the CFTC shows.
📌Contrary to gold, silver-ETF investors are value-driven, FastMarkets’ estimates show.
📌I expect silver to win its fight against the present bearish momentum.
📌I propose SLV to take advantage of a potential rally in spot silver prices in Q4 2018.
Data on China’s Manufacturing Growth will Likely show Further Slowdown in September
The Caixin Purchasing Managers’ Index for China’s manufacturing sector is expected to come in at 50.5 points for September, according to estimates by Reuters. That’s below August’s 50.6 points and the lowest reading since June 2017.