Minneapolis Fed president Neel Kashkari indicated modest interest rate cuts are likely, citing a strong job market. Meanwhile, gold prices surged, driven by central bank demand and lower interest rates. Investors expressed caution, leading to decreased homebuying and mortgage refinancing, amid fears of a potential recession and escalating U.S. national debt.
High inflation and a disappointing report on economic growth, followed by a sudden drop in stocks late last month made for a familiar economic combination.
The gold industry is so tiny compared to the amount of cash held by institutional investors that it would easily and completely overwhelm it. Gold prices could ignite from this catalyst alone.
Let’s have some fun… I grew up in the Johnny Carson era, and saw lots of funny episodes and comedians over the years.
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