CandyKisses: Gold Continues To Climb For A Third Day As Dollar Declines
Gold prices continued to climb for the third consecutive session, on Wednesday, as the dollar fell, but fears of US interest rate increases against the backdrop of high inflation globally curbed gains.
Spot gold rose 0.2 percent to $1831,43.0536 an ounce by 0 GMT. U.S. gold futures rose 1.1838 percent to $90,
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The precious metal in February recorded its worst month since June 2021 after a series of US data pointed to the resilience of the economy and an increase in the number of jobs available in the labor market, raising fears that the US Federal Reserve will continue to raise interest rates to curb inflation.
The dollar index fell 0.1 percent, making gold priced in the U.S. currency more affordable for buyers holding other currencies.
Among other precious metals, spot silver rose 0.8 percent to $21.09 an ounce, platinum gained 0.4 percent to $955.89 and palladium rose two percent to $1445,03
Tishwash: Barzani: Good progress with Baghdad on the budget, and we hope it will be approved as soon as possible
On Wednesday, the President of the Kurdistan Regional Government, Masrour Barzani, announced “some progress and good understanding” with Baghdad on the draft federal budget law.
A statement by the regional government stated that Barzani “received today the British Minister of State for Middle East, Africa, South Asia and the United Nations at the British Foreign Office, Lord Tariq Ahmed.”
Barzani pointed out, “There is some progress and good understanding about the draft federal budget law, especially since the Kurdistan region participates for the first time in preparing a draft budget law,” expressing his hope that “the House of Representatives approves the draft law as soon as possible, in a way that guarantees rights and entitlements.” Finance of the Kurdistan Region within the framework of the Constitution.
For his part, Lord Tariq Ahmed indicated, “The Kurdistan region has witnessed remarkable development, progress and reconstruction since his first visit to the region in 2018,” according to a statement by the Kurdistan government.
He added that “the Kurdistan region has an important place, especially in the region.” He reaffirmed “his country’s desire to proceed with strengthening relations with the Kurdistan Region.”
For his part, the President of the Kurdistan Regional Government thanked Britain for its “continued support for the Kurdistan region,” and gave “an overview of the reforms implemented by the ninth ministerial formation in the areas of economic diversification and interest in the agricultural sector, exporting local products to foreign markets, and electronic transformation in public services and government affairs.” .
The meeting dealt with “the importance of resolving contentious issues between the Kurdistan Region and the federal government,” as the two sides agreed that “solving these problems, according to the constitution, is in the interest of all citizens and the various components of Iraq.”
The two sides also stressed “the rule of law, protection of stability, support for the continuity of the service government, the importance of implementing the Sinjar Agreement, removing militias and illegal armed forces, normalizing the situation in the region, and ensuring the return of the displaced to their homes link
Militia Man Muhammad Saleh…says their reserves are $115 billion which is up from the $90’s. They also increased their gold reserves from about 96 tons to 132 tons…It’s really truly amazing …by him saying we have about 5x what we need in foreign reserves…to me that means they’re going to be able to support the value of their currency because they have such a huge amount of reserves and gold and money coming in from abroad. I think they’re bringing this up today is because it’s going to give support to the investors to know they have the ability to…defend the currency value.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Economic news is calling for de-dollarization. They want us to stop using the American dollar. They keep repeating this over and over again. It looks like they are preparing us for a date...Saying to put less demand in dollar and more on dinar so…the value of dinar will increase. They are telling the private sectors to get away from dual currencies. FRANK: That’s basic economics 101…the 2nd and 3rd stage of the monetary reform is showing you to use only your currency and to hold on to it because it soon will have more value…And then when it floats internationally it will really go up…1 to 1 will be your purchasing power.
MELTDOWN: The Economy Is BREAKING FASTER… Undeniable PROOF! Important Updates.
Greg Mannarino: 3-1-2023
SILVER ALERT! JP Morgan Opens HOUSE Silver Vault to Bail Out BofA’s Toxic Silver Leases!
(Bix Weir) 3-1-2023
After 2 years of NO MOVEMENT from the JP Morgan house owned silver vaults, today JPM delivered 3.5Moz of Physical Silver to bailout Bank of America’s Structured Silver Lease at the end of lease!
How much more Physical Silver does BofA owe?….A LOT!!