Your News to Know rounds up the most important stories about precious metals and the overall economy. This week, we’ll cover:
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The headlines over the past few days couldn’t decide iftariffsor Iran strikes were what pushed gold back above $5,200. (They ultimately settled on the latter, not without reason.)
We’ve been hearing about tariffs sincebeforePresident Trump’s second term, so I believe their connection to gold’s price action is weaker than ever.
On the other hand, theattack on Iranhas been the biggest story of the past week. The idea is that the U.S. is striking Iran before they can retaliate.Peace through superior firepowerand so on.
I’m not qualified to comment on that. I can tell you that the Middle East conflict isstillnothing more than a footnote in terms of precious metals. Granted, it’s terrible for the people involved, but all but irrelevant for gold price.
Despite what mainstream news tell us, gold has been moving without regard to military action since 2022.
The other big news item regarding gold recently? The idea that “unrruly” Chinese traders are to blame for gold jumping to $5,500 from $5,000 in a day. (I found it very interesting that the Treasury Secretary came out tocorroborate this story.) Besides Trump’s gold nods and Judy Shelton’s efforts, our government officials normally don’t talk about gold.
I mean,why would they?Talking about goldat allmeans having to address the price of gold. How it keeps going updespitethe much-discussed “strength” of the U.S. dollar. Everyone hates inflation, right? Talking about gold means government officials might have to confrontthese facts:
I’m able to tell you the truth about this: That inflation isbad for citizens, but it’sgood for debtors.And it’sbestfor the U.S. federal government, the greatest debtor in history. I can tell you these things because I’m not a political official and I don’t have to worry about reelection…
Source: SGT Report
