Despite optimism from GDP reports, manufacturing and construction spending fell short of expectations, squashing hopes for a significant economic rebound.
Central bank gold buying more than doubled in July, as policymakers showed a continued commitment to increasing the percentage of yellow metal in their reserves.
Sound money, typically tied to precious metals like gold and silver, serves as a safeguard against inflation and government overreach in monetary policy.
Newman’s insights provided a comprehensive overview of the current state of the precious metals markets, highlighting the complexities and global nature of these markets.
Now the question is how big a rate cut we will see in September. If US data continues to be soft then we can expect a bigger rate cut, and likely a strong reaction from gold.
Mining is a tough business that is fraught with risks. Even when the value of a mine’s end product goes up, the costs of getting it out of the ground can go up even faster.
