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

At its March meeting, the Federal Reserve left its key interest rate unchanged at a 23-year high of 5.25% to 5.5% for a fifth straight meeting, but stuck to its forecast of three rate cuts this year despite signs that inflation may stay elevated longer. The decision means that Americans will continue to pay higher borrowing costs, while the Fed continues to battle sharp price increases. At the conclusion of this month’s two-day meeting, the Fed repeated that it does not expect it will become appropriate to reduce the target range until it has gained greater confidence that inflation (now close ..read more

In investment, gold has always been a beacon of stability and a symbol of wealth. Its allure, stemming from its historical performance as a hedge against inflation and economic downturns, attracts investors. For those contemplating incorporating gold into their portfolios, a common inquiry is whether it’s possible to purchase gold directly from major banking institutions, such as Chase. This question touches on the broader discussion of the types of gold investments available and the inherent risks and benefits of each. Direct Purchase of Gold from Chase: A Misconception When acquiring physica ..read more

Inflation data significantly influenced last week’s movements in the gold market, but as the week progressed, the focus shifted to the Federal Reserve and the anticipated adjustments in interest rates. Following Wednesday’s Federal Open Market Committee (FOMC) meeting, the Fed’s indication of maintaining three projected rate cuts in 2024 sparked a surge in gold prices. This outlook weakened the dollar and propelled gold to reach new all-time highs in futures and spot markets by Thursday. However, the latter part of the week saw a resurgence of the U.S. dollar, which led to a notable decline in ..read more