According to the World Gold Council, gold has established itself as an essential global asset. “There is more to gold than one specific market,” Juan Carlos Artigas, global head of research at the World Gold Council, told Kitco News. “In the last 30 years, the market has changed a lot, and the reality is that gold is as important as ever.” He said that over the past three decades, the yellow metal has evolved to become a more robust and profound market, providing investors around the world with stability and value in their portfolios. In other news, Piper Sandler’s chief global economist Nancy Lazar is warning that the next recession will feel more like the 1970s than 2008. “People are too focused on ‘08 and 2020. This is more like 1973, 74, and 2021.”
Kitco News/Neils Christensen
Three factors that have transformed the gold market in the last 30 years – WGC
The gold market has a 5,000-year history as a store of value; however, in the last 30 years, the precious metal has established itself as an essential global asset in a world filled with uncertainty, according to the latest report from the World Gold Council.
Tuesday, the WGC celebrated the 30 anniversary of its quarterly and annual Gold Demand Trends report, which looks at all pillars of physical demand in the global marketplace, including jewelry purchases to investor demand and central bank gold holdings.
In an interview with Kitco News, Juan Carlos Artigas, global head of research at the World Gold Council, said that over the last 30 years has evolved to become a more robust and profound market, providing investors around the world with stability and value in their portfolios.
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Fox Business/Kristen Altus
Wall Street economist says recession in 2023 will look like biggest crisis of the 1970s
According to one Wall Street economist, a looming recession this year will feel more like the 1970s than a 2008-07 slump.
“People are too focused on ‘08 and 2020. This is more like 1973, 74 and 2021,” Piper Sandler chief global economist Nancy Lazar said on “Mornings with Maria” Monday.
Lazar predicted feeling the full impact of a recession in the second half of 2023 as lag effects from the Federal Reserve’s rate hikes take hold.
An inflation gauge closely watched by the Fed showed signs of slowing in December, but it still remained abnormally high, according to new data released Friday.
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Business Insider/William Edwards
How Jerome Powell’s ego could trigger a recession
Jerome Powell was trying to save face. In November 2021, the Federal Reserve chairman was scrambling to redefine his public messaging on inflation, which had turned from a short-term pain, or in his words “transitory,” into a much bigger crisis.
“I think the word ‘transitory’ has different meanings to different people,” he said. “We tend to use it to mean that it won’t leave a permanent mark in the form of higher inflation. I think it’s probably a good time to retire that word.”
In the 14 months since that testimony, Powell and the Fed have been on an aggressive mission to rein in prices — and reestablish their credibility as managers of the US economy. But just as their efforts have begun to produce signs of progress, Powell and the Fed face a new risk: going too far.
You can read the full article here, here.
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