In a recent note, ECB economists highlighted the risks that could arise from rising demand for physically settled gold contracts, particularly during periods of geopolitical stress.
Gold does look like it’s going higher, but at this point, the miners don’t need higher gold to massively outperform the underlying metal or to soar against fiat.
President Trump and congressional Republicans will never cut spending until they stop pretending they can pay down the national debt, cut taxes, and continue massive spending on militarism.
Gold is neutral, it is not affiliated with any country, it transcends politics, and acts as universal true money.
Overall, gold demand in industry was flat. However, gold used in electronics rose by 2% to 67 tonnes despite concerns about the impact of tariffs on the industry and record gold prices.
Weekly chart shows lower highs/lows, but June daily bars reveal a swing up. Breaking $3255 means higher highs/lows, ending the downtrend, starting a bullish phase near the 18-day average.
