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BlackRock’s Larry Fink Sounds Alarm on America’s Mounting Debt Crisis

America’s "snowballing debt"—at $34 trillion and counting—is putting the country on course to end up in a crisis reminiscent of Japan's lost decade, and Washington cannot take for granted the notion that investors will continue to fund its fiscal deficit forever, warns BlackRock CEO Larry Fink.The CEO of the world’s largest asset manager also cautioned that the recent three percentage point increase in U.S. Treasury yields, to 4%—which reflects longer term inflation expectations and the Fed's aggressive interest rate hikes—is already very dangerous, since it amounts to an extra trillion dollars in interest payments alone over the next decade.“The situation…

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Gold’s Stellar Month Tipped by Fed’s Monetary Hints

By Kavya Balaraman and Anjana Anil(Reuters) - Gold prices climbed on Thursday and were set to log their best month in over a year, bolstered by strong safe-haven demand, U.S. interest rate cut expectations and central bank buying.Spot gold gained 0.5% to $2,204.99 per ounce as of 10:20 a.m. EDT (1420 GMT), eyeing its best month since November 2022 gaining around 8% so far, and a second straight quarterly rise. U.S. gold futures edged 0.7% higher to $2,204.80.While there are some indications that inflation is running hotter than policymakers would like, that doesn't necessarily explain the high valuations for gold…

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Beware of Synthetic Gold!

[embedded content]Discover the truth behind HSBC’s claim of tokenizing gold with Mike Maloney and Alan Hibbard. In this eye-opening discussion, they dissect the fine print of HSBC’s gold investment scheme. Learn why this supposed innovation might not be what it seems, the limitations investors face, and the significant risks involved. If you’re considering investing in tokenized gold or simply want to understand the implications, this is a must-watch.Mike Maloney is more than just a legend in the precious metals industry. He’s on a mission to help everyone maximize their individual prosperity. Mike is best known as the host of the…

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Why This Gold Bull Market Could Be Very Different

The implications for bullion and gold stock investorsSomething is afoot with gold.Before analysing the mystery, a question. Is gold overpriced?The World Gold Council estimates that 6.8 billion ounces of gold are above ground. They are in jewellery, central bank reserves, bars, coins and exchange traded funds. At current prices, all this gold is worth $14.9 trillion.The market capitalisation of “Magnificent Seven” stocks is $13.7 trillion. Either Microsoft, Apple, Nividia and the others are too expensive or gold is cheap.Source Khaleej Times - Jewellery consumers in Dubai and India are resisting record prices. The vast majority of analysts, traders and bankers…

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Gold’s Behaviour Points to Sustained Strong Demand

Do note that this group of traders tends to anticipate, accelerate, and amplify price changes that have been set in motion by fundamentals. Being followers of momentum, this strategy often sees this group of traders buy into strength and sell into weakness. They are likely to have tight stops and no underlying exposure that is being hedged, and this makes them most reactive to changes in the fundamental or technical developments. In the short term, gold needs to hold key support levels in order to avoid a fresh round of profit taking, but so far the corrections seen have been…

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Larry Fink Critiques India’s Gold Obsession: Little Economic or Investor Benefit

BlackRock founder and chairman Larry Fink said gold can be a good store of value but it does not stimulate economic growth — "It just sits in a safe." India is one of the largest markets for gold as the precious metal plays an important role in the country's culture. India's central bank gold reserves have also hit an all-time high of 817 tons, according to data from World Gold Council. Fancy anklets at an upscale jewellery shop in Thiruvananthapuram (Trivandrum), Kerala, India Nurphoto | Nurphoto | Getty Images India's fondness for gold has neither benefited its economy nor generated…

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HSBC Introduces Groundbreaking Tokenized Gold in Hong Kong

Tokenised gold assets are not a new concept – they surpassed US$1 billion in value globally in 2023, according to CoinGecko, a platform that tracks the industry.‘We are proud that HSBC Gold Token, powered by HSBC Orion, is the first retail product in Hong Kong that is based on distributed ledger technology,’ said Maggie Ng, general manager and head of wealth and personal banking for Hong Kong at HSBC. Photo: SCMP Handout“We are proud that HSBC Gold Token, powered by HSBC Orion, is the first retail product in Hong Kong that is based on distributed ledger technology, as authorised by…

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Inflation Reporting’s Blind Spot: The Cumulative Impact

All the inflation reports have a fatal flaw: A reliance on a moving, 12-month time period. The use of the latest, trailing twelve months is easy to get - It's on the front page of the BLS's monthly CPI report. But that doesn't mean it's the right number to focus on. The latest twelve months ignores the total inflation period's preceding months - the cumulative inflation period results that are fully with us today. That means examining the entire Covid period from January 2020, now entering its fifth year. Why start then? Because that is just prior to the Federal…

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Nigeria’s Central Bank Raises Interest Rate to Tackle Inflation

Minutes from the February meeting showed policymakers making the hawkish case for aggressive interest rate hikes to tame sky-high inflation, which came in at an annual 31.7% in February. Nigeria's naira currency plunged by around 70% against the U.S. dollar over the course of a year, hitting an all-time low of around 1,600 to the dollar in late February. A pedestrian in the Lagos Island district of Lagos, Nigeria, on Monday, Nov. 14, 2022. Bloomberg | Bloomberg | Getty Images The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy…

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Debt Avalanche Ahead: BlackRock CEO Sounds the Alarm on U.S. Economy

(Bloomberg) -- BlackRock Inc. Chief Executive Officer Larry Fink said the US public debt situation “is more urgent than I can ever remember” and that the country needs to adopt policies to spur economic growth.Most Read from BloombergThe nation can’t rely on taxes and spending cuts to get the problem under control, Fink wrote in his annual letter Tuesday. He raised the prospect of a “bad scenario” akin to Japan’s economy in the late 1990s and early 2000s, which led to a period of austerity and stagnation.“A high-debt America would also be one where it’s much harder to fight inflation…

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Gold’s ‘Record March Higher Set To Continue,’ Goldman Says

Gold’s roughly 8% month-to-date rally has room to grow with the precious metal poised to hit $2,300 an ounce by year-end, according to Goldman Sachs analysts.On Monday futures gained to trade as high as $2,182 an ounce. The precious metal is considered a safe haven during times of geopolitical tensions and when interest rates decrease. Last week, the Federal Reserve continued to signal that it would lower interest rates three times this year.The Fed meeting “reinforced the market’s (and ours) expectations that three cuts are likely this year, lending renewed support to gold to test and surpass March’s earlier record…

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