Sen. Rand Paul invites Elon Musk to inspect the largest U.S. gold reserves at Fort Knox. Musk’s questions about the gold supply have sparked speculation about a potential review. Fort Knox stores over 147 million troy ounces of gold, serving as a financial hedge against economic instability. The last inspection was in 1974, with another one in 2017. Conspiracy theories persist regarding the vault’s actual gold content, leading to renewed interest in transparency.
Gold and silver prices are surging due to safe-haven demand amid geopolitical tensions and economic uncertainty, with gold reaching a record $2,758.49. Demand for gold is also spurred by inflation concerns, as seen in retail sales at Costco. Investors are diversifying portfolios, increasing the appeal of precious metals as a hedge.
Investors need to be patient when it comes to gold. According to one U.S. bank, the precious metal could continue to consolidate through the summer as markets come to terms with the Federal Reserve’s holding pattern.
Home prices finished the summer at another record high as home affordability tanks to a historical low.
Analysts were warning that the gold market was ripe for a short squeeze rally as prices fell to a seven-month low earlier in the month, and they were proven right as the latest trade data from the Commodity Futures Trading Commission (CFTC) showed significant short-covering in gold and silver.
Major banks are facing one of the biggest regulatory overhauls since the financial crisis, setting up a clash over the amount of capital that they must set aside to weather the tumult.
1. On Monday stocks fell at the start of a busy week for earnings, with investors awaiting Wednesday’s Federal Reserve decision for clues on whether officials will dial back the pace of rate increases as early as December. Morgan Stanley’s Michael Wilson says the end of Fed tightening may be nearing suggesting the Fed pivot…
It’s no secret that Elon Musk has some revolutionary ideas. And by most measures, he has been wildly successful. Tesla orders hit a record 97,000 vehicles globally in the third quarter (not to mention 250,000 preorders for the new CyberTruck).
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