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6.13.19 - CFOs Bracing For 2020 Recession

Gold last traded at $1,343 an ounce. Silver at $14.89 an ounce.

NEWS SUMMARY: Precious metal prices rose again Thursday on safe haven buying despite a firmer dollar. U.S. stocks rose, lifted by gains in Disney and energy shares, despite geopolitical tensions in the Mid-East.

 

 

 

Asset Valuations: No Relation to Reality

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cash 1169650 640Blain: "Liquidity Will Be The Murder Weapon" -Zero Hedge
"In the headlights this morning: Saudi Arabia: forget the IPO and worry about MbS threating an oil war if the West doesn’t let him murder whomever he doesn’t like. $100 by year end? Brexit: The next millennium bug? Very good interview on Andrew Marr show with head of Next outlined a no-deal will be less than optimal, but it won’t be a disaster. Lets get on with it. Germany: Merkel's affiliate party takes a pasting in Bavaria. Who is out a job first? Merkel or May?....Global Market Reset? The inherent danger of a reset makes sense to me.

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Equity Sell-Off Spurs Gold's Advance

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gold is money 2020767 640Gold Revitalized as Equity Sell-Off Spurs Second Weekly Advance -Bloomberg
"Gold may have finally snapped out of its inertia....Bullion received another shot in the arm during Thursday's surge after data showing weaker-than-expected U.S. inflation raised speculation that the Federal Reserve may slow the pace of interest rate increases. Gold, which hit a 10-week-high of $1,226.42 an ounce on Thursday, had held near $1,200 since late August as traders weighed

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Is This Economy as Good as it Gets?

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DangerAheadAs stocks tumble, the U.S. wonders: Is this economy as good as it gets? -Washington Post
"This year's economic performance has consistently exceeded expectations, as the stock market set records, growth accelerated and unemployment moved lower and lower. But the steep sell-off on Wall Street this week - with the Dow Jones industrial average dropping nearly 1,400 points over the past two days - underscored a growing concern among investors and economists that the economy may have nowhere to go but down.

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Dimon: 'Geopolitical Issues Bursting'

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341px The Global Financial Context James Dimon croppedJamie Dimon sounds warning about 'geopolitical issues bursting all over the place' -CNBC
"J.P. Morgan Chase CEO Jamie Dimon raised concerns Friday that rising interest rates and geopolitical flareups could derail U.S. economic growth....'If rates go up because you have inflation, that is not a plus. That is a bad thing,' Dimon said. 'So far, we still have a strong economy in spite of these increasing overseas geopolitical issues bursting all over the place.' When asked to name these issues,

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BofA Sees Gold Climbing Over $1300

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800px Gold bullion 2Gold Set To Climb Over $1300? BofA Thinks So -Zero Hedge
"According to the Bank of America Merrill Lynch, gold is set to take a run over the next year due to the constant cloud of uncertainty with regards to the U.S budget deficit alongside concerns over trade wars. The head of global commodities and derivatives research, Francisco Blanch has stated that gold could average $1,350 an ounce of 2019 due to the U.S fiscal balance. 'We're still pretty constructive longer term on gold,' because of worries over the future of the U.S. economy...said New York-based Blanch.

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