Gold 4-hour chart. The metal broke out from a 1.5-month triangle formation, but did not hold. I expect gold to complete correction by FOMC mid next week… pic.twitter.com/oWr6BtCbpx
— Rashad Hajiyev (@hajiyev_rashad) December 15, 2024
Gold has been trading within the rising broadening wedge since October 2023. Every advancing part of every cycle give or take lasted 2 months and yielded on average 18%. Assuming that gold bottoms around FOMC next week, 18% should take it towards the upper band of the formation… pic.twitter.com/MkdNBmtjgW
— Rashad Hajiyev (@hajiyev_rashad) December 15, 2024
The United States is now openly threatening sanctions against Chinese banks.
2nd biggest economy in the world.
Meanwhile,
China holds nearly $800 billion in U.S. Treasuries and is the biggest producer and consumer of gold on the planet.
The plot continues to thicken. pic.twitter.com/msGhZrOlrd
— Gold Telegraph ⚡ (@GoldTelegraph_) December 13, 2024
In the 1970s, stagflation caused massive economic pain.
But guess what thrived?
Gold soared over 2,000%, proving its worth as a safe haven.
History might repeat itself. pic.twitter.com/mzaakX38G2
— GoldSilver HQ (@GoldSilverHQ) December 15, 2024
Inflation has come down thanks to strong deflationary pressures in core goods prices, but that is showing signs of reversing. Without a sharp fall in services, it is going to be hard to get durably back to 2%. pic.twitter.com/XfFlc2Bo4s
— Bob Elliott (@BobEUnlimited) December 14, 2024
The global economy is getting the biggest coordinated easing since the GFC at a time when macro conditions look nothing like the GFC. Here is a list of central banks that are currently easing their monetary policies:
United States: The Federal Reserve has initiated an easing cycle with a 50 basis points rate cut.
United Kingdom: The Bank of England has delivered a 25 basis points rate cut.
European Central Bank: The ECB has cut rates three times this year.
Switzerland: The Swiss National Bank has cut rates to 1% and is expected to ease further.
Sweden: The Riksbank has cut rates to 3.25% and is guiding markets to expect further cuts.
New Zealand: The Reserve Bank of New Zealand has cut rates by 50 basis points.
Canada: The Bank of Canada is expected to lower rates further.
South Korea: The Bank of Korea has delivered a 25 basis points rate cut.
Mexico: The Bank of Mexico has also implemented a 25 basis points rate cut.
South Africa: The South African Reserve Bank has cut rates by 25 basis points.
Czech Republic: The Czech National Bank has implemented a 25 basis points rate cut.
The Golden Storm: Trump Tariffs, Naked Shorts, and a Market on the Brink.
The precious metals market is trembling under the shadow of Trump’s potential trade tariffs. A wave of panic is sweeping through New York’s financial circles, where the manipulation of gold and silver… pic.twitter.com/HXiKWZrMag
— Dr. Jim Willie (@dr_jimwillie) December 14, 2024
For more detailed insights and updates, you can refer to the following sources:
https://www.weforum.org/stories/2024/12/economics-stories-growth-inflation-2024/
https://www.weforum.org/stories/2024/09/chief-economists-outlook-global-economy-growth/