Gold Pauses 10% 2024 Rally as Markets Brace for US Employment Numbers
Gold prices retreated by approximately 1% on Thursday, ending a three-day upward streak as investors locked in profits, with spot gold settling at $2,893.63 an ounce and U.S. gold futures sliding to $2,900.70. Despite this correction, gold has performed impressively in 2024, gaining over 10% since January and reaching an…
Global Currency Markets Rocked by German Spending Surge and Escalating Trade Wars
Global markets saw major changes Wednesday as two powerful forces came together: Trump’s expanding trade war and a dramatic shift in German spending policy. The dollar fell to three-month lows, dropping 2.3% in just three days—the biggest fall since late 2022. This came as new US tariffs hit imports from…
Gold Price Gap Narrows as Trump Tariff Trade Loses Steam
The price gap between US and international gold markets is finally returning to normal after months of disruption. This shift comes as fears about Trump’s potential tariffs on gold imports begin to fade. The difference between New York’s Comex futures and the London spot market has shrunk to around $10…
Trump and Musk Question if Fort Knox Gold Has Been “Stolen”
President Trump has raised doubts about the U.S. gold reserves at Fort Knox, suggesting they might have been stolen—a concern also voiced by Elon Musk. Trump plans to visit the facility personally, despite offering no evidence for these claims. The U.S. Mint reports the depository holds 147.3 million ounces of…
Stagflation Fears and Trump Tariffs Push Gold Toward Historic $3,000 Milestone
Gold prices are climbing as markets respond to Trump’s tariffs and expected future announcements. After a brief dip, gold has bounced back above $2,900, with traders setting their sights on the key $3,000 mark. The rally reflects a major shift in markets: the US dollar is falling instead of rising,…
Gold Continues Upward March Amid Growing US-China Trade War
Gold prices edged slightly higher on Wednesday, rising 0.1% to $2,918.83 an ounce, bolstered by a U.S. dollar that hit three-month lows and growing political uncertainty after President Trump announced new tariff measures. The precious metal has climbed 11% this year and reached a record $2,956.15 on February 24, with…
Crescat Capital: Full Faith and Credit of Gold
Crescat Capital’s research highlights gold’s resurgence as a monetary anchor amid unprecedented US debt levels. Currently, US Treasury gold reserves account for just 2% of outstanding government debt—one of the lowest ratios in history and dramatically below the 40% backing seen during WWII. This imbalance creates a compelling case for…
US Economy Projected to Contract 2.8% as Warning Signs Emerge
Despite a US economy that has been “chugging along” with 2.3% GDP growth through Q4 2024, the Federal Reserve Bank of Atlanta’s real-time GDP forecast now projects a 2.8% economic contraction. This negative swing primarily reflects a sharper-than-expected decline in post-holiday consumer spending and increased imports ahead of tariff implementation….
Central Banks Continue Strategic Gold Buying Streak in January 2025
Central banks started 2025 with continued gold buying, adding 18 tonnes in January. Emerging markets led this trend, with Uzbekistan, China, and Kazakhstan making the largest purchases. Poland and India each added 3 tonnes to their reserves. The World Gold Council’s 2024 report shows central banks remain key drivers of…
Gold Climbs as Trump’s Tariffs Trigger Global Safe-Haven Rush
Gold extended its gains for a second consecutive session on Tuesday, rising 0.9% to $2,919.44 an ounce as investors flocked to safe-haven assets amid escalating global trade tensions. President Trump’s implementation of 25% tariffs on Mexican and Canadian imports, along with doubling duties on Chinese goods to 20%, triggered immediate…