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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.

 

 

 

50% of CFOs See 2019 Recession

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Spirit of ChristmasMost CFOs see a U.S. recession coming by 2020 -CBS News
"Considering that major corporations have been busy shedding workers, it follows that corporate finance leaders see a U.S. recession ahead. Evidence of a slowing economy has been popping up, including recent large-scale cuts in head count by U.S. corporations such as General Motors and Verizon.

Big Tech’s Reckoning is Imminent

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virtual reality 1802469 640Big Tech's Reckoning May Be Imminent After All -New Republic
"Sundar Pichai and House Republicans probably went to bed on Tuesday feeling satisfied with the result of the Google CEO's testimony before the Judiciary Committee...he didn't have to spend much time talking about even more uncomfortable subjects, like his company’s aggressive data collection and user tracking.

“The Real War is the War on Cash”

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paypal 3383998 640Paypal is thriving by defying conventional wisdom -The Economist
"In Silicon Valley people are besotted by the latest thing, which is why techies rarely give a thought to PayPal, a digital-payments firm that turns 20 this month. What PayPal lacks in terms of its profile, it has made up for in performance...This year it is expected to facilitate digital payments worth around $582bn, roughly four times more than in 2012....

BofA: Gold To Hit $1,400 In 2019

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gold is money 2020767 640Look For Gold To Hit $1,400 In 2019 -BoAML/Kitco
"Investors looking for a commodity to be bullish on in 2019 should look at gold, according to the latest research from analysts at Bank of American Merrill Lynch (BoAML), which is overweight the precious metal. In a teleconference presentation last week, Michael Widmer, metals strategist at the bank, said that a weaker U.S. dollar, rising inflation and low real interest rates will drive gold prices higher next year. In its year-end outlook, the bank sees gold prices averaging the year around $1,296 an ounce with prices rising as high as $1,400 an ounce during the year....

The Untold Story of 2008 Crisis

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Bernanke: U.S. has no system in place to deal with another financial meltdown -CBS News
"Wild swings in the stock market are fueling concerns over a potential new economic slowdown....It's been a decade since the last major economic crisis, when about 8.7 million Americans lost their jobs and some of the world's biggest banks collapsed. The men who worked behind closed doors in 2008 to stave off another Great Depression (they're nicknamed the "Three Amigos") are featured in a new documentary from HBO and Vice,"Panic: The Untold Story of the 2008 Financial Crisis.