Craig Hemke – Economic Data Points To Watch As We Navigate The Sideways Chop
Craig Hemke, Founder of TF Metals Report joins us to review some of the upcoming economic data points to watch out for over the next 2 weeks, as we continue to see choppy range-bound markets across the board. We discuss the overall health of the price action we’ve seen in gold, silver, and the precious metals mining stocks over the last 6 months in a 2 steps forward then 1 step back stair-step progression higher.
In the most recent past few weeks, Craig notes the sentiment change we’ve seen based on the markets Fed rate hike expectations, and a reduction in concerns with the banking sector, lessoning the bid for the PMs in sympathy. He points to the FOMC meeting and the ECB meeting next week as potential market moving events. No doubt, we’ll see market participants parsing Jerome Powell’s comments to establish the tone and direction of markets until the next Fed meeting.
We wrap up discussing how many generalist investors and financial media are still out of touch with the ongoing stagflationary environment that is likely morphing towards a recession later in the year, and how the Fed will need to reverse course from hiking to cutting, kicking off another monetary cycle.
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U.S. GDP Slows To 1.1% In The First Quarter
Scott Kanowsky – Investing.com – Apr 27, 2023
“U.S. economic growth slowed by more than expected in the first quarter, according to preliminary data from the Commerce Department on Thursday.”
“Real gross domestic product in the world’s largest economy increased at an annual rate of 1.1% during the January to March period, slowing from 2.6% in the final three months of 2022. Economists had predicted that the reading would come in at 2.0%.”
https://www.investing.com/news/economic-indicators/us-gdp-slows-to-11-in-the-first-quarter-3066338
Non-managed money related Juniors continue down.
Protected versus free game. Orchestrated intervention versus off limits.
Speaking of Craig and Sprott, the current lead article is a video on gata.org. Sprott mentions a few of his favorite stocks, talks silver and reinforces that intervention continues to be flagrant.
There is word out on the net that First Republic Bank is in trouble after losing $100 billion in deposits. They expect The Fed could be making an announcement after markets close today. DT
Do not panic………… Biden has your back…. lol…. just don’t let him sniff your hair….
Bobby M…..at 321……… has some great comments on the banks and First Republic Bank…. which most here should already know…..
RED ALERT: Another Bank About To Collapse | Bob Moriarty
Freaky Friday……………. Again………….
Nothing new………. it is all rigged… Fake Fed….. should not exist in the first place.
Hang your hat on that one….LOL…..
Have a Wonderful Weekend.
Worth the read………. at zerohedge…..
FedNow… And What’s Next?
Tyler Durden’s Photo
BY TYLER DURDEN
FRIDAY, APR 28, 2023 – 06:30 AM
Authored by Eric Peters via EricPetersAutos.com,
The “Federal” Reserve – in the usual air-finger-quotes, to emphasize the maliciously disingenuous verbiage, the “Fed” being a conglomeration of private banks that controls the federal government and so, practically everything else, via the issuing of money it creates out of nothing that it loans at interest to the federal government – has up to now been a kind of background evil. Few knew about or understood its machinations – its manipulations – because few had any direct dealings with it.
It was just, you know, the “Fed.”
That is about to change.
Come July, the Fed will involve itself directly in the affairs of Americans, via Fed Now – a chirpily named etiolation of the “Fed’s” manipulation of the nation’s money supply. The object now isn’t manipulation as much as it is habituation.
Hi Jerry, First Republic shares have been dropping the last three days, First Republic will force The Fed’s invisible hands as to QE or QT. Will the puddin fingers keystroke more money! DT
Hello DT………….
Bobby M says……….. all the banks are in the same situation…..
Funny…… Bobby is talking about a Jubilee, which I have been talking about
for YEARS…….
Yes, you have, Jerry! DT
And…., I have been talking about a Deflationary Depression for at least 15 years! DT
There is no way out of this mess except through “Deflation”. DT
The rotten parts of the economy must be allowed to go bust, new green shoots will take their place, but it will be slow and painful like the dirty 30’s. “Brother can you spare a dime.” DT
https://tinyurl.com/52euebw7
Wild Gasser Morning!
PMs Turning?
240 minute june /NG…still acting well…1st targ 2.68
The rally this morning could be short covering.
That would be well received.
Gareth has some worthwhile thoughts on markets in general and gold in particular: https://www.kitco.com/news/2023-04-27/S-P-500-will-crash-20-as-panic-sets-in-and-gold-hits-2-300-in-2023-Fed-will-cause-more-tremors-in-banking-sector-Gareth-Soloway.html
My Junior trades seem to indicate MMs are seeking lower than market to sell and higher than market to buy.
That just indicates there is high demand for the miners and MMs scalping price in both directions. Just another indication of a scam without regulation.
Today’s adds: Lione one, Aztec Minerals, American Eagle, Guanajuato Silver
Good open today with a slow walk down toward close.
Gone red…
Why would anyone bother attacking my crummy stocks for over a year … unless they are not crummy.
Just a thought.
Gold dips as rate hike bets hold despite weak data, dollar gains
By Deep Kaushik Vakil – Reuters – April 27, 2023
“Gold reversed course and fell on Thursday, as the dollar gained after weaker U.S. economic readings failed to upend expectations of another interest rate hike by the Federal Reserve next week amid stubborn inflation.”
https://www.reuters.com/markets/commodities/gold-inches-up-dollar-eases-us-gdp-data-focus-2023-04-27/