Pope Francis and President Barack Obama are set to hold private talks at the White House on Wednesday before the pontiff parades through streets of Washington on the first full day of his first visit to the United States.
Outside of individual's holding crude oil stocks, damage to the economy from the fall in oil has been pretty minimal so far. Indeed, the price cut in home heating oil and gasoline has probably outweighed the damage from lower oil prices, so far. Unfortunately, this situation may not last.
This morning’s indications showed gold and silver partially reversing yesterday’s losses with modest gains on the order of $4 and 11 cents, respectively. On the other hand, platinum and palladium each advanced by about one percent in the cash markets.
Stop the Duke, Go for Gold! Is a story John Butler, of Amphora Capital, told me a while back which has played on my mind ever since. It’s a story of middle-classes fighting back at politicians, their weapon? Gold.
The purest form of a debt free asset is gold. Gold is true money, the only form of money that isn’t someone else’s liability. While central banks might be able to lower the gold price by dumping their own reserves, central banks cannot print more gold.
The gold price eased back for dollar investors on Friday in London, but recovered one third of yesterday's sharp sell-off - and was heading higher for a fifth weekly gain - as official data said US unemployment retreated to 8.9% last month.