These organizations originally set aside 100 ounces of physical gold to fund scholarships, at the time valued around $120,000...that same 100 ounces is worth more than $460,000 today.
While the Fed held rates steady as expected, the vote was far from unanimous. Four FOMC members voted against the move/statement. The last time four members dissented was in 1992.
The bank outlined a scenario in which gold could reach $8,000 over the next five years. Not as a simple price forecast, but as a reflection of deeper shifts in the global financial system.
You can see why, with fuel prices being scorching hot, those rising fertilizer costs are causing some farmers to decide to plant less and save on fuel...
While many expected a strong safe-haven surge in gold and silver, Philip Newman explained that the metals have not responded as dramatically as some anticipated.
In my opinion, in the near-term the Fed is going to operate more or less as it had for decades into the end of the secular bull market in bonds in March, 2020...
Mined gold production is failing to keep pace with demand, contributing to a structural deficit that is supported by high consumer demand, central bank buying and dwindling reserves.
