Gold and silver remain in consolidation, but their technical setups are still strong, despite the confusing crosscurrents caused by unpredictable tariff developments.
We share the FT’s conclusion: Ireland is not doomed. Far from it. But optimism is not the same as preparedness. The FT’s piece is a wake-up call to diversify and we’re not just speaking economically but financially, personally, and institutionally.
This puts the Fed in a tough spot. Growth is clearly weakening, but inflation isn’t weakening with it. Which problem do you fight? If this persists, I suspect unemployment will be the tiebreaker. Further weakness there could offset the inflation concern.
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The primary catalyst is a structural supply deficit. The World Platinum Investment Council (WPIC) reported that demand outpaced supply by 995,000 ounces in 2024, nearly a million ounces—46% more than analysts forecast.
The Fed’s current inaction is exactly what you would expect given the Catch-22 it finds itself in. It simultaneously needs to cut rates to prop up the easy money-addicted economy, and hold rates steady (or even raise them) to keep inflation at bay.
Most consumers don't notice shrinkflation. When they do, their anger is usually directed at the “greedy” corporations that are charging them the same for less. But there's another culprit. The Federal Reserve.
With U.S. debt now over $36 trillion and growth slowing, central banks themselves are turning to physical bullion and not for yield, but for protection.
