Gold last traded at $1,498 an ounce. Silver at $17.61 an ounce.
NEWS SUMMARY: Precious metal prices rose Thursday as weak economic data sent the dollar lower. U.S. stocks were little changed despite strong earnings results from Netflix and Morgan Stanley as investors also digested news of a pending Brexit deal.
What We Learned From 2018 -Bonner/American Consequences "Our beat is money. So we will skip the culture wars, nominee confirmations, and foreign policy initiatives. Let’s just follow the money. And what we notice immediately is that the last decade (save the final three months) was a great time to be rich. The Fed pumped up your stocks, bonds, real estate, and collectibles… And then, Donald J. Trump added a tax cut....And so it came to pass that in 2018, the Fed continued to lend money at below the rate of consumer price inflation (effectively giving it away)… and Washington continued to spend money it didn’t have on things it didn’t need. The rich lost money on Wall Street.
U.S. Existing-Home Sales Posted Steep Fall in December -Wall Street Journal "Sales of previously owned U.S. homes declined sharply in December, suggesting sluggishness in the once-hot housing market may persist into 2019. Existing-home sales fell 6.4% in December from the previous month to a seasonally adjusted annual rate of 4.99 million, the National Association of Realtors said Tuesday
Billionaire Sam Zell Buys Gold for First Time in Bet on Tight Supply -Bloomberg "Gold’s dimming supply prospects have caught the eye of one billionaire. 'For the first time in my life, I bought gold because it is a good hedge,' Sam Zell, the founder of Equity Group Investments, said in a Bloomberg TV interview. 'Supply is shrinking and that is going to have a positive impact on the price.'
Ray Dalio sees a 'significant risk' of US recession in 2020 -CNBC "Ray Dalio, founder of the world's biggest hedge fund, warned on Tuesday of a 'significant risk' of a U.S. recession in 2020. 'It's going to be globally a slow up. It's not just the United States; it's Europe; and it's China and Japan' the billionaire investment titan said Tuesday in an interview on CNBC's 'Squawk Box.'