Gold prices remain firmly above $2,500, and silver has been able to hold onto the $30 level.
Market participants are now extremely confident in the kickoff of an extended Fed rate-cutting campaign in September, especially in light of weak employment numbers.
The stock market, however, continues to trade near its all-time highs -- even as volatility increases. A correction or extended downturn in the stock market would likely provide a new catalyst for gold, but negative stock market action has obviously been unnecessary for gold to rally.
Meanwhile, Western demand for physical bullion and even ETF shares backed by bullion has actually remained modest for most of the year -- especially as compared to 2020-2023.
It's demand from Asia as well as central banks that has been the driver for higher gold prices since late last year.
A pickup in buying activity in North America and Europe would, however, would add rocket fuel to the existing very strong global demand picture -- and silver would be expected to rise with gold as well.
In other news, the grand opening of Money Metals' massive new depository in Idaho -- a facility that's more than TWICE the size of the U.S. Bullion Depository at Fort Knox -- has captured the attention of the gold industry, as well as numerous "mainstream" news outlets.
Building and operating the largest precious metals depository in North America has further solidified Money Metals' place at the top of the industry. Learn more about gold and silver storage here.
Gleason is president of Money Metals Exchange, a national precious metals investment company and news service with over 300,000 readers and 100,000 paid customers. He launched the company while president of a national newsletter publishing company dedicated to helping subscribers protect their freedoms, assets, and privacy.
He founded Money Metals Exchange in 2010 in direct response to the abusive methods of national advertisers of “rare,” collectible, and numismatic coins who mark up their coins to 50%, 100%, or even higher above their actual melt value. Money Metals believes the average investor should never purchase precious metals that are not priced at or near their actual melt value. The rare coin market is only suitable for highly experienced collectors with money to blow.
Gleason currently leads marketing, publishing, and real estate companies as well. Previously, Gleason served as Vice President of the National Right to Work Legal Defense Foundation in Springfield, Virginia. Gleason is a graduate of the University of Florida with a BA degree in Political Science.
Gleason has frequently appeared on national television shows and networks such as Fox News Channel's O'Reilly Factor and Special Report with Brit Hume, CNBC's Closing Bell, Christian Broadcasting Network, CNN, and C-SPAN's Washington Journal. He has frequently been interviewed on national radio shows such as the Lars Larson Show, Michael Reagan Show, G. Gordon Liddy Show, and Ken Hamblin Show. Gleason's commentaries have appeared in The Wall Street Journal, Detroit News, Washington Times, and National Review, among thousands of other national, state, and local newspapers, wire services, and Internet sites.
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