New Fed chairman wants to move the inflation goalposts
Submitted by admin on Wed, 2026-06-10 09:48 Section: Daily DispatchesBy Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Tuesday, June 9, 2026
What do you do if you have a standard that's not being met?
Move the goalposts!
Of course you could work harder to meet the goal. But that's hard. So why not just change the standard and make it easier to meet?
That seems to be a strategy at the Federal Reserve.
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Consumer prices rose 4.2% annualized in May, highest in three years
Submitted by admin on Wed, 2026-06-10 09:41 Section: Daily DispatchesBy Jeff Cox
CNBC, New York
Wednesday, June 10, 2026
Inflation accelerated in May as rising energy costs contributed to pain for consumers, though underlying pressures were less intense.
The consumer price index, a broad gauge of goods and services costs across the U.S. economy, rose at a seasonally adjusted 0.5% for the month, putting the annual inflation rate at 4.2%, the Bureau of Labor Statistics reported today.
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Governments sell bonds at record pace as their spending soars
Submitted by admin on Wed, 2026-06-10 09:03 Section: Daily DispatchesBy Hannah Benjamin-Cook and Alice Gledhill
Bloomberg News
Wednesday, June 10, 2026
Governments are borrowing from syndicated bond markets at a record clip as public spending surges.
Sovereign issuers have sold $504 billion of the debt -- which is offered to investors via banks -- so far this year, according to data compiled by Bloomberg.
That's more than in the first half of 2020, when nations were paying to support their economies during Covid-19 lockdowns.
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India's gold tariff hike prompts smuggling revival, squeezes banks and refiners
Submitted by admin on Wed, 2026-06-10 08:53 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Tuesday, June 9, 2026
MUMBAI -- India's sharp increase in gold import tariffs is fueling a resurgence in smuggling that could exceed 100 metric tons this year, as soaring gray-market margins allow smugglers to undercut banks and refiners of the precious metal, industry officials and bullion dealers said.
BIS gold swaps rise as the metal's price falls
Submitted by admin on Tue, 2026-06-09 21:53 Section: Daily Dispatches9:53p ET Tuesday, June 9, 2026
Dear Friend of GATA and Gold:
As gold prices keep falling, gold swaps arranged by the Bank for International Settlements on behalf of its member central banks keep rising.
Drawing on the bank's monthly statement for May --
Craig Hemke: Central bank gold demand and price trends
Submitted by admin on Tue, 2026-06-09 18:22 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, June 9, 2026
Central bank demand has been a key driver of the gold price since 2023. While a few countries have sold some gold in early 2026, several others have picked up the pace and their continued demand provides long term support for price.
