More News, Rumors and Opinions Saturday PM 1-7-2023
TNT:
CandyKisses: Gold makes third consecutive weekly gain
llow-up - Mawazine News
Gold prices rose, at the end of the week, achieving the third Straight weekly gains, after US jobs report reduced concerns about Raising interest rates in America.
The price of gold at settlement, about 1865.69 dollars per ounce, up about 2.3 percent for the week.
U.S. jobs data showed that Employers added 223,000 jobs in December, more than experts had expected. Wages grew slightly less than expected.
Federal Reserve Fund futures traders boosted Their bets that the Fed will raise interest rates by 25 basis points at the end of its meeting which lasts two days on the first of February after the release of jobs data.
The Federal Reserve raised interest rates by 50 basis points in Its December meeting, after four consecutive increases of 75 basis points.
A few U.S. central bank officials confirmed Thursday past their commitment to fight to bring inflation down to the target of two percent, But St. Louis Federal Reserve Chairman James Bullard said 2023 had There has finally been some relief in the fight against inflation.
High interest rates reduce the metal's attractiveness. Yellow represents a hedge against inflation but does not generate a return.
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Courtesy of Dinar Guru
Walkingstick [via Frank26] the 3-zeros are going to drop gradually as the IQD floats internationally. You will see the exchange rate go from .000 to .00 to .0 to . - that's the float.
Bruce [via WiserNow] We hope that the intel that we're getting now and we've got it from several sources, we've got it from sources with from Wells Fargo, Citibank, we've got it saying that we're going to start these exchanges on Tuesday...And that's what I believe.
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From Recaps Archives:
NY TIMES (Kuwait RV): Published: March 25, 1991
It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency......Banks reopened for the first time since Iraqi occupation forces shut them down in December.
Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.....The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis.
The invalid serial numbers were posted today in front of all banks in the city....All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid.
The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.
From March 18, 1975 to January 4, 2003 the dinar was pegged to a weighted currency basket. From January 5, 2003 until May 20, 2007, the pegging was switched to 1 U.S. dollar = 0.29963 dinar with margins of ±3.5%.[2] The central rate translates to approximately 1 dinar = 3.33745 dollars. From June 16, 2007, the Kuwaiti dinar was re-pegged to a basket of currencies,[3] and is now worth about US$3.609 (€2.686). It is the world's highest-valued currency unit
Silver Will Soar In Q3, Q4 As Fed Pivots | Craig Hemke
Liberty and Finance: 1-7-2023
The Fed is driving the economy in the ditch, says Craig Hemke, founder of TF Metals Report. By summer 2023, silver and gold will sense a Fed reversal is inevitable, he says.
This year should be a wild ride for the economy and metals.
INTERVIEW TIMELINE:
0:00 Intro
3:22 2023 forecast
6:10 Buying opportunity?
9:32 Fed QE
12:13 Geopolitical wildcards
15:35 Fed reversal
19:43 Patience needed
Algeria JUST ANNOUNCED A New MASSIVE Oil And Gas Discovery In The Sahara That Is A GAME CHANGER!
Tech Revoluti on: 1-7-2023
Algeria's state-owned company has found a large amount of natural gas in the Sahara Desert worth 12 trillion cubic feet. And this is the biggest discovery in Algeria in the last 20 years. In 2021, Algeria was the third largest supplier of natural gas to Europe.
The country produced over 100 billion cubic meters of natural gas that year, which is about 24% more than the previous year.
Algeria's natural gas production increased by about 20.6 billion cubic meters between 1998 and 2021. In addition, it reached its highest level in 2021. And now, experts think this is an incredibly massive gas discovery and extracting it could send shockwaves all around the world!