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A shocking assassination attempt captured on video has left the nation reeling, prompting investors to jump on gold as a safe haven amid political and social crisis.
“Retaliatory measures will definitely follow,” Kremlin officials promise the U.S. ambassador after a Ukrainian missile strike was allegedly conducted with U.S.-supplied weapons and intelligence.
Amid ongoing tension in the Middle East, Iranian President Ebrahim Raisi and the foreign minister have been confirmed dead Monday after a helicopter crash. The officials’ shocking demise casts additional investor doubt on a region already plagued by economic upheaval, with supply chain uncertainties fueling record-high metal prices this week.
The Comex report last month showed a lot of strength in gold which directly preceded a massive up move for the price of gold. The data is looking similar in silver this month!
Peter’s back in Puerto Rico this week for his podcast after another week of record gold prices. In this episode, he discusses media coverage of inflation, this week’s CPI report, and Bitcoin’s weakening price relative to gold.
With a hot CPI report casting a shadow of doubt on the likelihood of a June interest rate cut, all eyes are on the Fed. But they’ve caught themselves in a “damned if they do, damned if they don’t” moment for the economy — and the news for gold is good regardless.
While the total annihilation of the Francis Scott Key Bridge in Baltimore probably isn’t a “Black Swan” big enough to trigger a global collapse, it adds potent fuel to several fires in an already fragile global economy.
Please note: the CoTs report was published on 03/22/2024 for the period ending 03/19/2024. “Managed Money” and “Hedge Funds” are used interchangeably. The Commitment of Traders report is a weekly publication that shows the breakdown of ownership in the Futures market. For every contract, there is a long and a short, so the net positioning will always […]
