The Retail Apocalypse continues, oil prices rise due to expanding wars in oil regions, and the resulting turmoil. Topping it off, a global recession adds crushing weight to the chaos.
According to the WGC, festival gold buying was strong in both urban and rural areas. While official data isn't in, there is an indication that there was record buying in rupee terms.
Inflation is winning the battle against businesses and consumers as the Fed’s fight against inflation hits them more aggressively than it is hitting inflation.
Hemke noted that after a decade-long wait, silver has caught up with gold's 10-13% rally above $2100. Despite rising rates, gold is at record highs, and silver may now outperform.
Powell will likely aim to keep 10YR Treasury yields below 5%, even at the expense of fighting inflation, while investors will strive to boost their abstract hopes.
