President Trump is expected to announce a replacement this week for Federal Reserve Governor Adriana Kugler, a decision that could also hint at his preference for the next Fed Chair. Reported candidates on the short list include economic adviser Kevin Hassett, former Fed Governor Kevin Warsh, and possibly current Fed Governor Christopher Waller. Each of … Read more

The U.S. dollar was largely unchanged on Thursday as investors awaited Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday for clearer signals about future monetary policy. Market-implied odds continue to point toward a rate cut in September, with probabilities holding around 79%, a slight decline from earlier expectations as traders … Read more

The World Gold Council’s latest report shows gold demand hit an unprecedented high in 2024, totaling 4,974.5 metric tons and amounting to $382 billion in value. That 1% year-over-year rise marks a record peak, led largely by central bank purchases, especially across emerging markets. These official institutions have stepped up buying as they diversify reserves … Read more

Key Takeaways The traditional 60/40 portfolio has lost the negative stock-bond correlation that made bonds a reliable hedge. Since 2022, stocks and bonds have often fallen together in drawdowns, reducing the diversification benefit of bonds. [Incrementum AG, In Gold We Trust 2025] Major institutions now recommend materially larger gold allocations. Morgan Stanley’s Mike Wilson proposed … Read more

Central banks usually operate quietly, but when the Federal Reserve starts a new round of quantitative easing, global markets take notice. QE influences the dollar, alters interest rates, and reinforces the long-term case for precious metals. It is one of the most consequential tools in modern finance — and yet many people would struggle to … Read more

Crude markets turned bearish after reports surfaced that OPEC+ is considering another production increase. The proposal would raise output by about 411,000 barrels per day in July, a move expected to be led by Saudi Arabia. That additional supply could shift the fragile balance between global supply and demand, placing downward pressure on prices. At … Read more

Federal Reserve Governor Chris Waller warned that sustained high tariffs imposed by the Trump administration could force the Fed to lower interest rates earlier than currently expected. Waller said tariffs strong enough to push inflation temporarily toward 5% would nonetheless present a difficult trade-off: while higher inflation might normally argue against easing policy, the accompanying … Read more

This week Asian physical gold markets saw subdued buying as higher prices weakened sentiment and prompted dealers to widen discounts. In India — the world’s largest consumer — jewellers were quoting discounts of up to $15/oz against official domestic rates (which include a 6% import duty and 3% sales tax), compared with discounts around $10/oz … Read more

Treasury Secretary Scott Bessent outlined his priorities for the next Federal Reserve chair in a recent interview, stressing that the role requires a broad, forward-looking perspective beyond traditional monetary-policy duties. “The chair must inspire market confidence and have the capacity to interpret complex economic data,” Bessent told Japan’s Nikkei newspaper. He emphasized that effective leadership … Read more

If the tax rules around gold make you uneasy, you’re not alone. Gold and silver are distinct investments and can be subject to complex tax treatment. Different ownership forms — physical bullion, coins, ETFs, jewelry, and IRAs — each have their own considerations. Below we answer common questions about taxes and reporting for gold and … Read more