Gold prices hit a two-month high this morning. Kitco News reports that it appears the spike occurred partly because metal traders are focusing on rising inflation within the coming months rather than a tighter monetary policy. On Friday, Congress passed a $1.2 trillion infrastructure bill to repair the nation’s airports, roads, bridges, and more. Biden is expected to sign it soon. However, CNN notes there are several things the bill is missing including the president’s proposal to spend $400 billion to bolster caregiving for aging and disabled Americans. In other news, St. Louis Fed President James Bullard believes the nation is in “pretty good shape for economic growth.”


Kitco News/Jim Wyckoff
Gold price powers to 2-mo. high on inflation concerns

Gold and silver prices are modestly up in early U.S. trading Monday, with gold notching a two-month high. It appears the metals traders have turned their focus from the bearish aspects of a tighter U.S. monetary policy, to the bullish prospects of rising and even problematic price inflation in the coming months. December gold was last up $2.60 at $1,819.40 and December Comex silver was last up $0.173 at $24.33 an ounce.

Global stock markets were mixed in overnight trading. The U.S. stock indexes are pointed to mixed openings when the New York day session begins. The U.S. indexes hit record highs last Friday. There remains little risk aversion in the global marketplace at present. The U.S. House of Representatives late Friday approved a pared-down U.S. government spending plan.

In other weekend news, China reported its October imports were up 20.6%, year-on-year, which was less than expected. However, China’s exports in the period were higher than expected, at up 27.1%.

You can read the full story, here.


CNN Politics/Katie Lobosco and Tami Luhby, CNN
Here’s what’s in the bipartisan infrastructure bill

Congress passed a $1.2 trillion infrastructure package Friday, approving a signature part of President Joe Biden’s economic agenda.

It will deliver $550 billion of new federal investments in America’s infrastructure over five years, touching everything from bridges and roads to the nation’s broadband, water and energy systems. Experts say the money is sorely needed to ensure safe travel, as well as the efficient transport of goods and produce across the country. The nation’s infrastructure system earned a C- score from the American Society of Civil Engineers earlier this year.

Democrats claim the bill pays for itself through a multitude of measures and without raising taxes. But the Congressional Budget Office brushed aside several of those pay-for provisions, ultimately finding the bill would add $256 billion to the deficit over the next 10 years. It’s significantly smaller than the $2.25 trillion proposal that Biden unveiled in March, known as the American Jobs Plan.

You can read the full story, here.


Fox Business
Fed’s Bullard: US in ‘pretty good shape for economic growth’

St. Louis Fed President James Bullard notes that the level of GDP is “above pre-pandemic levels so we already fully recovered in that sense from the pandemic and the pandemic isn’t even over yet.”

Watch the full interview, here.







60 Years Experience