If characterize the trend of Gold accurately, that is "eye-popping wild ride", given chaotic economic and geopolitical landscape globally.
Gold, as the most dependable hedge in this environment of economic dislocation, has crossed the threashold of $3,400 per ounce. The latest breakthrough is fueled by the conflict between President Trump and Fed Chair Powell. Trump attempts to threaten the independence of the Fed, including managing to terminate the term of Powell.
Senator Elizabeth Warren warns that if Powell is fired by President Trump, it will crash the market. Goldman Sachs also warns that if the Fed loses its independence, the gold will hit $4,500 per ounce by the end of 2025 as well as the huge volatility of financial markets.
Gold has jumped about 30% since the beginning of the year and about 8% since Trump unveiled his sweeping tariffs on April 2. Par for the course, gold has been on a tear this year given the confidence in the US falls as well as central banks buy up the precious metal.
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by- ANDREW SMITH
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