There are more red flags and crucial issues that are being overlooked by the Fed, such as the credit quality of the mortgage portfolios and borrowers’ profiles, shares of non-core assets, and off-balance sheet items.
The trend across the nation is to eliminate taxes on precious metals. The state of Louisiana and Ohio both experimented briefly with reimposing sales taxes on precious metals purchases. They both quickly reversed course..
Remember what I said: Inflation is highly individualized. Everyone feels it to different degrees. But everyone in those groups gets the same COLA percentage. This year’s increase was 8.7%, starting in January.
The bottom line is speculators’ gold-futures trading that dominates gold price action has been stealthed in recent weeks. A major futures clearing firm suffered a ransomware cyberattack, taking down automated data systems. That missing is increasingly distorting gold prices.