Gold Update As Bankruptcies And Interest Rates Soar

Here is an update on gold as bankruptcies and interest rates soar.

Gold
September 15 (King World News) – Ole Hansen, Head of Commodity Strategy at SaxoBank:  Gold is holding just above a key support area around USD 4,300, despite facing multiple headwinds from moves across other markets. 

Since the US Labor Day holiday, gold has fallen 1.8%, while the December Fed Funds futures contract has declined by 15 basis points to imply a year-end rate of 4.08%. Over the same period, the dollar has gained 0.6%, two- and ten-year Treasury yields have risen by 22 and 17 basis points respectively, while Brent crude has surged 10%, adding to inflation concerns. 

Taken together, these developments represent significant headwinds for gold. Yet the relatively modest decline also highlights resilient underlying demand, which so far has prevented a deeper correction and kept the key USD 4,300 support area intact. However, in the very short term, holding that area now looks increasingly challenging.

Bankruptcies Soaring
The Kobeissi Letter:  BREAKING: US consumers aged 40-49 now account for 26.8% of new consumer bankruptcies, their highest proportion since Q3 2015 and the largest among all age groups. 

At the same time, the 50-59 group represents 23.1%, bringing the combined proportion of Americans aged 40-59 to 49.9%, the largest since Q1 2017. 

To put this into perspective, this figure peaked at 54.3% in Q4 2011, following the 2008 Financial Crisis.

Furthermore, those aged 70+ now make up 21.5% of all new consumer bankruptcies, their largest proportion since Q2 2017. 

Meanwhile, Americans aged 18-29 now account for only 5.9% of new bankruptcies, their lowest percentage since Q2 2014. 

Older Americans are falling behind on their debt.

10-Year US Treasury Yield Soaring
Charlie Bilello:  The Fed started cutting rates in Sep 2024 with the 10-year Treasury yield at 3.7%. 

They cut rates 175 bps and the 10-year yield is now above 5% (highest since 2007). 

The Fed was done with inflation, but inflation wasn’t done with the Fed.

$200-$300 Silver
To listen to why Nomi Prins, who has been so accurate with her gold and silver price predictions, believes the price of silver will hit $200-$300 in the next 12-24 months CLICK HERE OR ON THE IMAGE BELOW.

Gold, Silver, Oil, Bonds, Stocks, Currencies
To listen to Alasdair Macleod discuss gold, silver, oil, bonds, stocks, currencies and more CLICK HERE OR ON THE IMAGE BELOW.

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