Inflation Weakness Helped Spur Rate Cut

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Gold Silver Reports — A “broad-based” weakening of inflation pressures helped persuade Australia’s central bank that the economy would be assisted by an interest-rate cut even as the growth outlook remained steady. Central bank considered waiting for more data in May decision.

While Reserve Bank of Australia board members considered holding the cash rate unchanged so they could await more information, policy makers on May 3 opted to cut the benchmark by a quarter point to 1.75 %, according to the minutes of its latest policy meeting.   

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Gold has rallied 20 percent in 2016

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Gold has rallied 20 percent in 2016

Gold Silver Reports — Gold has rallied 20 percent in 2016 as investors sought a haven from equity turmoil at the start of the year and the Federal Reserve dialed back expectations for U.S. interest-rate increases.

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Hottest Metal Boost Bullish Bets

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Gold Silver Reports — Hedge funds expanded their bullish bets on silver to an all-time high even as this year’s hottest metals rally began to fade.

Money managers added to their net-long positions in silver for the fourth time in five weeks, chasing the kind of returns that in the first three months of the year sent the precious metal to its biggest quarterly gain since 2012. The price surge is showing signs of fatigue, with futures posting two consecutive weekly declines and a more-than 2 percent drop for May.

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Central Bank Owners in Revolt Over $140 Payout

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Gold Silver Reports – In the wake of World War I, Mustafa Kemal Ataturk set out to create a central bank that would steer his new Turkish Republic through the wreckage of the Ottoman Empire and end its dependence on London and Paris. He implored people to invest and thousands did, many with their life savings.

It was a great bet, at least on paper — the bank is now the most profitable joint-stock company in Turkey, earning $5.6 billion last year alone. But the Treasury took the lion’s share, leaving the 6,000 or so individuals who own a combined 14 percent stake just $140 to divvy up.

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