Post by
ValuePro on Aug 15, 2022 11:05am
What hit the markets today?
"...China’s central bank unexpectedly announced it is lowering interest rates and adding liquidity to China’s financial system after some dour economic data reported for the world’s second-largest economy. Chinese data on factory output, investment, consumer spending and real estate all weakened in July. The dour China news added to fears of a global economic recession. Covid restrictions and a troubled property market have helped to hobble China’s economy in recent months. Other raw commodity prices on Monday also took a hit on the China news, led by a big drop in crude oil prices."
https://www.kitco.com/news/2022-08-15/Price-declines-in-gold-silver-after-downbeat-China-data.html
Comment by
ValuePro on Aug 15, 2022 11:13am
China lowering interest rates? That's profound. Other countries may have to follow to stay competitive with China's goods. And this morning's oil price hit a new low for the cycle. Both news bits should be good for POG, if not now, at least eventually.
Comment by
BuccaneeerIlnd on Aug 15, 2022 11:52am
I would run you over eh hole but youre braindead and theres not much enjoyment in that anymore. Bucco