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But we saved everything 🙂.
Andrew Ackerman highlights a sharp rise in gold prices of about 15 percent this month, attributing the move to renewed focus on the so-called debasement trade. The rally comes alongside efforts by the U.S. Treasury Department to manage and constrain costs tied to the U.S. debt pile.
Ackerman also points to an upcoming speech by Warsh as a potential catalyst for gold, especially if it strengthens arguments for a rate hike in September.
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Ackerman previously highlighted concerns about the U.S. president’s interventions in currency and bond markets. He also noted that the average U.S. gas price has fallen by about 50 cents from this year’s peak. These developments add further context to recent moves in gold and government policy responses.