Weekly Headlines
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AI Is Becoming More Than a Market Opportunity; It's a Risk
AI has helped propel markets and fueled enormous corporate investment, but many are beginning to view its influence differently. With AI now touching everything from stocks and corporate debt to capital spending, BlackRock says investors are increasingly treating it as a broader market risk factor, raising new questions about just how concentrated portfolios may have become.
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Hiring Slows Sharply as U.S. Adds Just 29,000 Jobs
The U.S. added just 29,000 jobs in September, well below economists' expectations of 90,000. July and August job gains were also revised down by a combined 60,000, adding to signs that the labor market may be losing momentum just as Americans continue to contend with elevated prices.
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Inflation Pressure Builds Across U.S. Services
The Institute for Supply Management's latest services report showed that the U.S. services sector continued to grow in September, but price pressures also intensified. ISM's Prices Index climbed to 74.0, its highest reading since July 2022, as businesses reported rising costs across areas including fuel, labor, food, construction and transportation.
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New World Gold Council Report Shows Central Banks Kept Buying Gold This Summer
The World Gold Council has released a new report on central bank gold buying, showing that purchases remained strong through the summer. Central banks added a net 39 tonnes of gold to their reserves in August, with China, Poland and Uzbekistan among the biggest buyers. China has now reported gold purchases for 22 consecutive months, while Poland remains the largest reported buyer so far this year.?
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A Strong Economy? It Depends Where You Look
Some of the numbers suggest the U.S. economy is holding up surprisingly well. But Americans are still contending with elevated prices, expensive borrowing and a softer job market. That disconnect helps explain why an economy that can look strong on paper may feel very different at the kitchen table.
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Could Silver Also Be Ready for Its Next Move?
Silver has fallen sharply from its January highs, but this analyst believes the metal's longer-term story is far from over. Silver remains in a global supply deficit, its industrial applications continue to span everything from electronics to medical technology, and Morris argues that a move higher in gold could give silver an additional boost. silver could be entering the early stages of its next move higher.
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Economist Says the Long-Term Case for Gold Is Getting Stronger
AEI economist Desmond Lachman says several major forces are lining up in gold's favor, including mounting government debt, inflation concerns and growing pressure across global bond markets. With many of the world's largest economies facing fiscal challenges at the same time, traditional alternatives to U.S. Treasuries may be harder to find, potentially strengthening gold's appeal as a store of value.