Gold prices have been oscillating around the $2,300 mark, seemingly ensnared in a stalemate that may entice some investors to liquidate, potentially suppressing prices in the short term. This current state of affairs is primarily a result of investors eagerly anticipating more definitive signals from the Federal Reserve, as the likelihood of a rate cut this summer diminishes. Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, noted that gold investors appear weary, craving decisive guidance from the Fed regarding its monetary policy. This sentiment was echoed throughout the trading ..read more

Gold prices rebounded during the European session on Monday, breaking a two-day losing streak. This was in response to the market’s digestion of the U.S. employment data, which was weaker than expected. The U.S. Nonfarm Payrolls (NFP) report, a significant economic indicator, has increased the likelihood of a September rate cut by the U.S. Federal Reserve (Fed). This potential rate cut weakened the U.S. Dollar (USD) and boosted USD-denominated gold. Importantly, a reduction in interest rates lowers the opportunity cost of holding gold, potentially driving up both its demand and price. Despite ..read more

On Monday, during the early Asian session, the gold price (XAU/USD) softened, trading around $2,335. This slight dip comes in the wake of recent U.S. economic data revealing persistent inflationary pressures, which has fueled market skepticism regarding the likelihood of imminent rate cuts by the U.S. Federal Reserve (Fed). With the Fed’s interest rate decision due on Wednesday, all eyes are keenly focused on potential policy changes. Simultaneously, the U.S. Dollar Index (DXY), which gauges the value of the USD against a basket of currencies from major U.S. trade partners, has declined to 106 ..read more

On Friday, gold prices surged to a record high, marking a significant milestone in a remarkable 17% rally this year. Notably, the pace of gold’s price increase has outpaced the growth of the S&P 500— a widely used benchmark for most 401(k) plans—by more than double, underscoring the strength of the gold market. Experts attribute the surge in gold prices to a broader trend where investors are flocking to high-return assets in anticipation of anticipated interest rate cuts later this year. A momentum trade is underway, propelling gold prices even higher as investors rush to partake in the ga ..read more

Paul Volcker, the ‘dragon slayer’ who took decisive action against inflation in the 1980s, left a formidable legacy that current Fed Chair Jerome Powell is still striving to equal. As inflation concerns resurface, Wall Street’s unease heightens, with Powell yet to claim victory over this persistent economic challenge. In a recent announcement, Powell underscored that the battle against inflation is far from over, in the wake of a report that revealed annualized price growth accelerating to 3.2% in February. The Fed Chair voiced uncertainty about whether the series of high inflation readings wa ..read more

Amidst the stock market’s record-breaking ascent, gold, a steadfast refuge for investors, has also been on the rise. Last week, gold prices reached an unprecedented $2,328.7 per ounce. This surge, according to renowned economist David Rosenberg, president of Rosenberg Research, could propel gold to a staggering $3,000 before the next business cycle shift, marking a potential 30% increase from its current levels. Rosenberg’s optimism about gold’s future performance is particularly noteworthy given the metal’s recent accomplishments. Gold has not only outperformed significant currencies and even ..read more

According to a million computer simulations run by Bloomberg, there is an 88% chance that the U.S. is on an “unsustainable” path regarding its National Debt. The alert went out following a forecast by the Congressional Budget Office indicating the National Debt will grow to an astonishing $54 trillion in the next decade, greatly due to the rising federal healthcare costs of an aging population. Higher interest rates required to combat inflation is also compounding the problem. National Debt interest payments are expected to triple from nearly $475 billion in fiscal year 2022 to a stunning $1.4 ..read more

On Monday, the gold price continued its upward trajectory, marking the fifth consecutive day of gains and reaching a new record high beyond the $2,250 mark during the Asian trading session. The rise comes from the latest US Personal Consumption Expenditures (PCE) Price Index data released last Friday. The data showed a moderate increase in inflation for February, reinforcing expectations that the Federal Reserve (Fed) is poised to start reducing interest rates in June. Such anticipation is a significant boon for gold, a non-yielding asset, making it more attractive to investors in the current ..read more

Last Thursday witnessed notable gains in gold prices during early U.S. trading as they edged closer to recent record highs amid a significant release of U.S. economic data. Silver prices remained relatively stable. The day was packed with key data announcements, including the U.S. GDP data for the fourth quarter and various inflation indexes. Given that U.S. markets were closed the following Friday for the Good Friday holiday, additional reports on personal income and outlays, along with PCE inflation data, were also scheduled for release. That Thursday marked not only the last U.S. trading da ..read more

In an age of vast and varied investment options, many individuals turn their attention towards the timeless asset that is gold. Known for its durability, scarcity, and intrinsic value, gold has been a sought-after commodity for centuries. However, when it comes to purchasing gold, especially for those looking to diversify their investment portfolio or secure a tangible asset amidst economic uncertainty, the question arises: Can one buy gold from Bank of America or similar banking institutions? The Short Answer: No, But There’s More Bank of America, like many other banking companies, does not o ..read more