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12.12.18 - BofA: Gold To Hit $1,400 In 2019

Gold last traded at $1,250 an ounce. Silver at $14.85 an ounce.

NEWS SUMMARY: Precious metal prices rose Wednesday on safe haven buying and a weaker dollar. U.S. stocks traded higher as investors digested upbeat news related to the ongoing trade war between the United States and China.

 

 

 

Check Out The Price Of Gold In Venezuela

Written by Editor-in-Chief
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s2smodern

Gold In Venezuela"Prices in Venezuela are doubling roughly every 18 days. The International Monetary Fund (IMF) now projects inflation to hit an astronomical 1 million percent by the end of this year. This puts the beleaguered Latin American country on the same slippery path as Zimbabwe a decade ago and Germany in the 1920s, when a wheelbarrow full of marks was barely enough to get you a loaf of bread. Venezuela’s socialist president Nicolas Maduro - who only this past weekend survived an assassination attempt involving several explosive-laden drones - announced recently that the country plans to rein in hyperinflation by lopping off five zeroes from its currency....So where does this put gold?

Is a Financial Crisis Inevitable?

Written by Staff Writer
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financial crisis 544944 640Is a Financial Crisis Inevitable? -Poulson/Merrifield/American Spectator
"Assuming the recent tax cuts and spending increases are maintained over the forecasted period, CBO estimates the amount of debt held by the public will equate to the national income over the next decade. Even more ominous, CBO predicts the national debt will eventually be more than double the national income, in just 30 years. This debt level would be unprecedented, exceeding heights reached during the Great Depression and World War II. It should come as no great revelation that CBO concludes this is not sustainable.

Facebook to Banks: Give Us Your Data

Written by Staff Writer
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s2smodern

computer 768608 640Facebook to Banks: Give Us Your Data, We’ll Give You Our Users -Wall Street Journal
"Facebook Inc. wants your financial data. The social media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking account balances, as part of an effort to offer new services to users. Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends.

Stocks: The Tech Titans Are Teetering

Written by Staff Writer
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s2smodern

FacebookAre tech titans teetering atop the market? -AFP/Yahoo Finance
"Apple ended the formal trading week worth a history-making $1 trillion. Meanwhile, four other tech firms rounded out a list of the five most valuable companies based on share prices. Amazon was worth $889 billion; Google-parent Alphabet was valued at $856 billion; Microsoft weighed in at $828 billion, and Facebook was valued at $513 billion.

Gold: A Safe Port in Turbulent Times

Written by Staff Writer
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s2smodern

piggy bank 2889046 640Why gold will remain one of the safest ports during the turbulent times ahead -The National
"Those who heeded my recent warning to sell their Faang stocks (Facebook, Amazon, Apple, Netflix and Google) will still be sitting comfortably. Meanwhile for those who ignored it – Facebook took a 20 per cent hit in one day, the worst loss for a single stock in the history of the US stock market. This sort of sudden volatility is an ill omen and seldom ends well for the wider market.