This Is Lifting Gold & Silver, Plus Inflation Worries And Real Estate

This Is Lifting Gold & Silver, Plus Inflation Worries And Real Estate from King World News

This is lifting gold and silver prices today, plus inflation worries and real estate.

Boosting Gold & Silver Prices
October 14 (King World News) – James Turk:  
The IMF gives the green light to Modern Monetary Theory. Gov’ts can supposedly “borrow freely” without consequences. Get ready for global acceleration in fiat currency creation and MMT hyperinflation. Buy physical gold & silver to protect your purchasing power.

Real Estate
Peter Boockvar:  
Mortgage applications to buy a home fell for the 4th week in the past 5 as maybe its digesting the recent sharp gains. They were down by 1.6% w/o/w. Even so, they are still up 24% y/o/y reflecting the rest taking place at still a high level. The average loan size moderated from the record high seen last week.

Average Mortgage Ballooning Along With Home Prices

While not yet reaching that point, I’m still on the lookout as to when the aggressive price increases now taking place again will start to slow the pace of transactions as it offsets the benefits of lower mortgage rates. Refi’s were unchanged but still up 44% y/o/y although that is a slowing pace…

Producer Prices Increasing
September PPI rose .4% m/o/m both headline and core, double the estimate for each. Versus last year, headline PPI was up .4% vs -.2% in August while the core rate was higher by 1.2%, twice the gain seen in August. Contributing to the rise was an increase in both goods and service prices with both higher by .4% m/o/m. Food prices rebounded by 1.2% m/o/m after a few months of giveback. Energy prices fell by .3% m/o/m.

Inflation Beginning To Make A Comeback

Increasing Transport Costs
As seen in the chart below, the average truck mile continues to get more expensive but the BLS said that ‘truck transportation of freight’ was down .5% m/o/m and 1.3% y/o/y. Thus I believe the large transportation price increases will eventually show up in this index. On the other hand, as seen with the stock performance and pricing power of FedEx and UPS, ‘air transportation of freight’ rose 4.2% y/o/y.

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King World News

Interviews with market experts from around the world with a focus on precious metals.