Jeweller celebrates Mother’s Day with special collections Gulf Times
Month: March 2020
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Living Legend: Jennifer Lopez
image source: Wikipedia Commons Jennifer Lopez has had a blowout year and what is even more impressive is that she recently turned 50. But even though she has a body to envy, what we’re really dying to get our hands on is her jewelry box and personal style. Her love of jewelry is […]
The post Living Legend: Jennifer Lopez appeared first on PriceScope.
Global economic growth is likely to be the worst this year since the Great Recession of 2008–2009, according to Bank of America Global Research, and that’s based on headwinds of all kinds. Learn about the new fears that are drawing new recession predictions from analysts across the country.
Worrisome Global Growth
In a research note issued in late February, Bank of America predicted global GDP growth would drop to 2.8% in 2020. That would be the first below-3% mark since the Great Recession ended in 2009, according to CNBC.
The Organization for Economic Cooperation and Development offers an even bleaker economic outlook for 2020—the possibility of 1.5% global GDP growth, The New York Times reports.
Bank of America bases its forecast on:
- Weak economic activity in China, Japan, and some parts of South America
- Ongoing U.S.-China trade tensions
- Political uncertainty amid this year’s presidential election
Also dragging down growth prospects in 2020 are tepid business investment, tighter monetary policies from central banks, and the hangover from sluggish growth in 2019, Bank of America notes.
In early March 2019, Goldman Sachs issued an especially dire economic forecast for the U.S. It predicted the U.S. would see GDP growth of only 0.9% in the first quarter of 2020 and would not notch any GDP growth in the second quarter. According to U.S. News & World Report, that would be the worst six-month span for the U.S. economy since the Great Recession.
Unpredictable Economic Damage
Two recent developments are stirring fears of a recession: the Federal Reserve’s surprise interest rate cut of 0.50% in early March 2019 and the related fall of the 10-year Treasury yield to a record low. Further fanning the recession flames is weakness in the manufacturing sector.
Komal Sri-Kumar, president and founder of Sri-Kumar Global Strategies, believes the bull market has come to a halt, and he’s forecasting a U.S. recession in mid-2020, according to the Bloomberg news outlet.
Meanwhile, Nouriel Roubini, professor of economics at New York University, says a global recession “doesn’t look too far-fetched.” And Mark Zandi, an economist at Moody’s Analytics, says he thinks the likelihood of a recession is on the rise, according to CNBC.
“We could really have a short, quick recession,” Jeremy Siegel, a professor of finance at the University of Pennsylvania’s Wharton School of Business, told CNBC. “There’s a lot of uncertainties.”
If a recession does hit, former White House economist Kevin Hassett believes it’ll start in the second quarter of 2020, he told CNN.
Many Americans share the recessionary concerns of economic experts. In December 2019, 52% of Americans questioned for a survey by personal finance website FinanceBuzz said they thought a recession was on the horizon within the next year.
The U.S. and China are, of course, two of the countries facing the greatest risk of a recession. Others include Japan, Germany, India, Hong Kong, and Singapore. Given the global nature of the economy, a downturn in one of these countries could have ripple effects across the world.
What Can You Do?
As various countries deal with the prospect of a recession, what can you do to protect yourself financially? Experts suggest looking at gold as a safe haven before and during turbulent times.
Many people are “drawn to gold’s role as a diversifier—due to its low correlation to most mainstream assets—and as a hedge against systematic risk and strong stock market pullbacks. Some [people] use it as a store of wealth and as an inflation and currency hedge,” the World Gold Council explains.
The World Gold Council’s research confirms that gold can be beneficial beyond turbulent times: “Its price has increased by an average of 10% per year since 1971 when gold began to be freely traded following the collapse of Bretton Woods.”
One vehicle for putting gold into your portfolio is gold coins—both bullion and certified—which are priced to offer short-term and long-term profit potential. Among the most desirable aspects of gold coins: They’re tangible assets that you can hold on to during a financial downturn.
There seems to be one “uncertainty shock” after another, in the words of Bank of America. When might the next one zap you? Stay ahead with the right resources at the right time. Download free comprehensive guides to learn more about everything from the national debt to past stock market corrections.
The post New Worries, New Recession Predictions: Here’s What Analysts Are Reporting appeared first on U.S. Money Reserve.
“”silver price”” – Google News
Wheaton Precious Metals Generates Strong Operating Cash Flow on Record Gold Production and Sales Volumes in 2019 Benzinga
The post Wheaton Precious Metals Generates Strong Operating Cash Flow on Record Gold Production and Sales Volumes in 2019 – Benzinga appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Barrick Gold (NYSE:ABX) said today it will spend an initial investment of $1.3 billion to expand the process plant and the tailings facility at its Pueblo Viejo gold mine in the Dominican Republic.
The post Barrick Gold to spend $1.3B to extend Pueblo Viejo appeared first on WorldSilverNews.
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Ivanhoe Mines appoints new president
Kitco News
(Kitco News) – Ivanhoe Mines (TSX: IVN) promoted its chief financial officer, Marna Cloete, to the position of president effective today.
The post Ivanhoe Mines appoints new president appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Researchers said gold is a key ingredient in solving a technological hurdle – making comfortable, wearable clothes that can also emit light.
The post Gold unlocks technological puzzle: how to make clothes that light up appeared first on WorldSilverNews.
Kitco News
(Kitco News) – On the day the WHO declared coronavirus a global pandemic and the Dow was down 1,300 points, CNBC’s Jim Cramer reminded investors that it is not too late to get into gold.
The post Cramer on COVID-19 fears: ‘Still not too late to own some gold’ appeared first on WorldSilverNews.
Santacruz Silver Mining suspends silver mine in Mexico Seeking Alpha
(USAGOLD – 3/12/2020) –
Silver has had a rough go of it thus far this year when compared to gold. It is down almost 6% on the year while the yellow metal has gained over 8.5%. Most of that has to do with gold being boosted by its safe-haven allure and silver being buffeted by disinflationary/deflationary concerns. Gold Predict’s A.G. Thorson believes all of that is about to change and uses another virus shock – the 2003 SARS epidemic – as a measuring stick to divine silver’s future. “Now, the good news,” he writes at FX Empire. “I think the 2003 SARS outbreak could shed some light on what to expect next. The SARS outbreak of 2003 peaked with the flu and began to decline with warmer weather. It’s too soon to know, but I expect the same fate for the coronavirus. The news tends to overplay the real threat level. As China goes back to work, the pent-up demand will slingshot an immediate need for materials and commodities leading to a second-half reflation.” Under this scenario, Thorson sees silver “by this time next year testing $26.00 – $28.”
Chart of the Day
Chart note: Gold and the U.S. dollar have a long history of being inversely correlated. From May 2019 until early February, however, the two rose in tandem to the surprise of analysts as investors globally viewed both as safe haven hedges in the face of geopolitical eruptions and recession worries. Beginning in about mid-February, as the coronavirus’ full impact began to be felt, the two resumed their old ways with gold heading north while the dollar went south. Thus far in 2020, as shown in the chart, gold is up over 7% even with its recent weakness taken into account and the dollar is roughly level. Gold still enjoys the benefit of safe-haven capital flows. The dollar weakened against other major currencies as the Fed moved aggressively to counter the debilitating economic effects of COVID-19, while other major central banks – most notably the European Central Bank and Bank of Japan – have yet to follow suit.