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7.16.19 - Recession fears rise for middle-class families

Gold last traded at $1,411 an ounce. Silver at $15.67 an ounce.

NEWS SUMMARY: Precious metal prices traded mixed Tuesday on mild profit-taking and a firmer dollar. U.S. stocks slipped after President Trump said trade progress between China and the U.S. has a 'long way to go'.

 

 

 

Slow Growth May Spark Currency Wars

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dollar 1398335 640Low interest rates and sluggish growth may lead to currency wars -Buttonwood/Economist
"In 2010, as the euro zone's sovereign-debt crisis escalated, the euro fell sharply, from $1.45 to $1.19. Soon the talk in America was of a second round of quantitative easing by the Federal Reserve. Was this a coincidence? Many in euro land thought not. QE2, as it came to be known, seemed to them to be mostly a means to a weaker dollar. The grumbles went beyond Europe.

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Gold: More Buyers At $1,400 Than $1,300

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gold 295936 640Gold Could Have More Buyers At $1,400 Than At $1,300 -Scotiabank/Kitco
"Gold's most recent move to $1,400 an ounce could attract more buyers than the metal's previous key $1,300 level, Scotiabank said in the latest update. The yellow metal rallied to six-year highs last week following a dovish Federal Reserve announcement, which kept rates unchanged but opened a door for future rate cuts.

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World Crazy, Dollar Lower. $1,400+ Gold

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GoldHelpThe world is crazy and the dollar is lower. Gold is above $1,400 for first time in years -CNN Business
"Gold bugs are finally having a moment. The price of gold topped $1,400 an ounce Friday. That's the highest level since September 2013. The price of gold is now up nearly 10% this year. Gold has gained momentum thanks to expectations of a rate cut by the Federal Reserve as soon as next month. Rate cut hopes have helped push the dollar lower - and gold tends to rally when the dollar gets weaker because that makes it more attractive to foreign buyers.

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Stock Highs Are No Reason To Celebrate

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stock exchange 642896 640Trader: All-Time Highs Are No Valid Reason To Celebrate -Zero Hedge
"It's hard to tell whose bluff was called last week, but the end result is that almost every systemically important central bank did more than blink. They caved. The question is, did they do so to keep the fun alive? Because they know something that they are loathe to tell us? Or have they finally and totally given up faith in their government counterparts? Whatever the reason, and despite equity markets and related risk assets having a field day, there isn't a great deal to celebrate.

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The Real Reason for Facebook's Crypto

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bitcoin 3014614 640The Real Reason for Facebook's New Cryptocurrency -New York Times
"Facebook says its new cryptocurrency, Libra, is a tool for financial inclusion and disrupting the world's cumbersome payment systems. In reality, there is a deeper motivation behind it, although not the one its critics imagine: Libra is the last, best hope to re-establish trust between Facebook and the world.

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