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TOP NEWSGold Imports from Switzerland Up 1,100% on Trade Concerns
Gold shattered all previous records this week, surging past $2,800 as traders race to beat potential tariffs.
The Hidden Cost of Inflation: Soup, Cars, and the Dollar’s Decline | Mike Maloney
In this enlightening video, Mike Maloney reveals how everyday costs are a direct reflection of the dollar’s collapsing purchasing power.
READ MOREFed Officials: No Rush to Cut Rates in Uncertain Climate
Federal Reserve officials Susan Collins and Raphael Bostic have signaled a cautious approach to further interest rate cuts, emphasizing the need to evaluate economic impacts of both recent monetary policy changes and new White House initiatives. Following three rate cuts totaling 100 basis points since September, the officials want to observe the effects before making additional adjustments. The Fed must also consider Trump's new tariffs, which Collins notes could cause short-term inflation across both final goods and intermediate production materials. While both officials expect rates to eventually decrease from the current 4.25-4.5% range, with Bostic suggesting a target of 3.0-3.5%, the timing remains uncertain. Some economists now project the Fed may hold rates steady throughout the year. Bostic maintains optimism about continued labor market strength and inflation's trajectory toward the Fed's 2% target, but emphasizes the need for patience given the evolving economic landscape.
READ MOREOil Falls Below $72 as Trade War Threatens Demand
Oil markets have reversed all gains made in 2025 as escalating trade tensions between the US and China threaten global economic growth and energy consumption. West Texas Intermediate crude fell below $72 per barrel following China's announcement of retaliatory measures, which include a 10% tariff on US oil imports and 15% levies on coal and LNG. While direct US oil exports to China are modest at 250,000 barrels per day, the broader implications of a trade war between the world's largest economies could significantly impact global energy demand. The market volatility comes amid already concerning signals, including declining Chinese manufacturing activity for two consecutive months.
READ MOREHigh-End Gold Market Thrives Despite Record Prices
Despite gold prices hitting 40 record highs with increases up to 30%, Chinese luxury gold products maintain strong sales while mainstream jewelry suffers. Laopu Gold exemplifies this trend with a 70% stock surge on its Hong Kong debut and projected 136% revenue growth to $1 billion in 2024, with net profits expected to rise 187% to 1.2 billion yuan.
READ MOREYuan Under Pressure as Trade War Looms
China's central bank faces mounting pressure to relax its tight control over the yuan as Trump's trade tariffs threaten to impact exports. Analysts from ANZ Banking and Malayan Banking expect the PBOC to allow the yuan's daily fixing to weaken past 7.2 per dollar, a level carefully defended since Trump's election. The offshore yuan has already touched 7.3734, its lowest since October 2022, though it recovered after Trump indicated willingness to negotiate. Goldman Sachs projects the onshore yuan could reach 7.4-7.5, suggesting a potential 3.4% decline. While currency depreciation could help offset tariff impacts, China must balance this against risks of capital outflows and US accusations of manipulation. The situation remains fluid, as demonstrated by the peso and Canadian dollar's rebound after Trump delayed tariffs on Mexico and Canada following border control agreements. Beijing reportedly plans to pledge against competitive devaluation, highlighting the complex dynamics between trade policy, currency management, and international relations.
READ MOREUS Gold Premium Reverses Traditional East-West Flow
Global bullion banks are shipping gold from Asian trading hubs to the US to capitalize on unusually high Comex futures premiums driven by tariff concerns. While Asian markets face discounts of up to $15 in India and around $1 in China, US futures are commanding a $40 premium over spot prices. The trend has led to an unprecedented 80% increase in Comex gold inventories since late November, adding 13.8 million troy ounces worth over $38 billion. Banks are even moving gold from customs-free zones in India and sourcing from Dubai refineries to capitalize on this premium, as high prices have dampened Asian retail demand. The cost of transportation is negligible compared to the potential profits from the price differential.
READ MORETariffs Hit Hardest at Bottom: Poor Pay More in Trade War
Trump's new tariffs on China, with potential duties on Mexico and Canada, could cost typical households $1,200 annually, with lower-income Americans facing disproportionate impact. According to Peterson Institute analysis, while typical households face $1,200 in annual costs, the bottom 20% of earners would lose 2.7% of their income, more than four times the 0.6% impact on the top 1%. This disparity stems from lower-income families spending more of their income on essential goods directly affected by tariffs. The timing is particularly challenging as consumer financial health shows signs of stress, with credit card minimum payments reaching record highs at 11% of active accounts. The broader economic implications include potential inflation increases that could delay Federal Reserve rate cuts, keeping borrowing costs elevated. Additionally, retaliatory measures from China could affect manufacturing and agricultural jobs, particularly in states that supported Trump's 2024 election victory. The situation is especially concerning given that low-income households are already grappling with high living costs, depleted savings, and increased debt burdens.
READ MOREChina Counters US Tariffs with Targeted Response
China has responded to Trump's 10% blanket tariff with targeted measures affecting $20 billion in US imports, including 15% levies on coal and LNG and 10% on crude oil and select vehicles. Beijing also launched an antitrust probe into Google and imposed export controls on critical metals. The measured response suggests China's willingness to negotiate, while Trump paused similar tariffs on Mexico and Canada for 30 days of talks.
READ MOREUS Steel Mills Ready Price Hikes Amid Tariff Talk
Steel prices are climbing even before the implementation of Trump's proposed 25% tariffs on Mexican and Canadian imports, with major producers like US Steel and Nucor already announcing price increases. While the tariffs' implementation is paused for negotiations, their potential impact is significant since Canada and Mexico supply 35% of US steel imports. Manufacturers are feeling the pressure, exemplified by Riverdale Mills' situation where steel represents two-thirds of production costs. The company currently sources 80% of its wire rod from Canada due to lower shipping costs compared to domestic alternatives. The tariffs would strengthen US steelmakers' pricing power but could disadvantage American manufacturers competing globally. For consumers, these changes could mean higher prices across various sectors, from appliances to aluminum-packaged beverages. US steel executives support the tariffs and advocate for eliminating exemptions, while Canada and Mexico have promised retaliatory measures, risking a broader trade conflict.
READ MOREGold Pauses After Record Run, Trade War Concerns Persist
Gold held steady at $2,815 per ounce after reaching a record $2,830.49, as markets digest Trump's tariff policies and await key U.S. economic data. The immediate focus is on President Trump's tariff policies and their potential inflationary impact, with three Fed officials warning of price risks and suggesting a more measured approach to interest rate cuts. While Mexico and Canada received temporary reprieves, China's swift retaliatory tariffs have escalated tensions between the world's largest economies. The situation has created unusual market dynamics, with global bullion banks airlifting gold from Dubai and Hong Kong to the U.S. to exploit high futures premiums. Markets are also closely monitoring upcoming U.S. economic indicators, including job openings data and the payrolls report, which could influence Fed policy decisions. The combination of trade uncertainty, inflation concerns, and potential monetary policy shifts continues to support gold's traditional role as a hedge against both economic and geopolitical risks.
READ MORETrade War Tensions Keep Gold Near Historic $2,830 Peak
Gold remains near its record high of $2,830 per ounce as new US tariffs on Chinese goods and Beijing's retaliatory measures heighten economic uncertainty. China's counter-actions include imposing levies on US products and launching an antitrust investigation into Google. The trade conflict has disrupted precious metals markets, with US gold and silver prices surging above international benchmarks as traders rush to move metals before potential tariff implementation.
READ MORERecord Gold Deliveries Hit US as Banks Rush to Beat Tariffs
JPMorgan Chase, the world's largest bullion dealer, is spearheading an unprecedented movement of gold to US markets, planning to deliver over $4 billion in bullion against February Comex futures contracts. This massive delivery, part of a total 3 million troy ounces from major banks, represents the second-largest delivery in exchange history since 1994. The unusual movement reflects growing concerns about potential import tariffs under President Trump, which has created a significant premium for US gold prices over London spot rates. The situation has triggered remarkable market dynamics, with physical gold inventories in Comex depositories swelling by 14 million ounces ($39 billion) since the US election. The price disparity has become so significant that traders are even airfreighting silver into the US, an unprecedented move given silver's typically prohibitive transport costs relative to value. While JPMorgan accounts for roughly half the planned deliveries at 1.485 million ounces, other major institutions including Deutsche Bank, Morgan Stanley, and Goldman Sachs are also participating in this extraordinary movement of physical precious metals to US markets.
READ MOREOil Prices Rise as Tariffs Threaten North American Energy Trade
Oil markets responded strongly to Trump's new tariffs, with prices rising on concerns about potential supply disruptions in North America's integrated energy market. Brent crude gained 1.7% to $76.95 while U.S. WTI crude jumped 2.6% to $74.42, reaching its highest level since January. The impact is particularly significant given that Canada and Mexico together supply about a quarter of U.S. refineries' crude oil needs. While Canadian energy imports face a lower 10% tariff compared to the broader 25% levies, analysts warn of significant market disruption. Barclays notes the relatively softer stance on Canadian energy likely reflects concerns about domestic market stability, but Rystad Energy warns of inevitable gasoline price increases as refineries face higher costs for heavy crude grades. The situation could benefit OPEC+ if prolonged tariffs lead to production cuts in North America, potentially helping the producer group unwind its output restrictions. Meanwhile, U.S. gasoline futures surged 2.5% to $2.11 per gallon as markets priced in expected supply constraints.
READ MOREChinese Buyers Swap Property for Gold as Economy Slows
Chinese consumers' strong demand for gold helped drive prices to record highs in 2024, particularly in Shubei's massive retail market. While general consumer spending and jewelry purchases declined amid China's economic slowdown, gold remained attractive as a wealth preservation tool, with sustained demand for bars and coins. The persistent demand for gold bars and coins highlights a broader transformation in Chinese investment patterns, as consumers increasingly view the precious metal as a reliable hedge against economic instability. This shift is particularly significant given China's property market troubles, traditionally a primary wealth storage vehicle for Chinese citizens. Unlike other luxury purchases that have seen decreased interest during the economic downturn, gold's cultural and financial significance has made it a preferred choice for wealth preservation, driving sustained buying despite broader economic challenges.
READ MOREYield Curve Flattens as Markets Digest Trump Tariffs
Treasury markets showed a divergent reaction to Trump's new tariffs, with short-term yields rising on inflation concerns while longer-term yields remained stable or declined. The 2-year yield climbed 6 basis points to 4.28% while the 10-year yield dipped slightly, suggesting markets expect the Fed to maintain higher rates near-term while long-term growth faces headwinds.
READ MOREMarkets Tumble as Trump's Tariffs Spark Global Selloff
Global financial markets experienced significant upheaval as Trump's sweeping tariffs against major trading partners marked the beginning of what investors fear could be a prolonged trade war. The dollar index jumped 0.9% to near two-year highs as traders sought safety, pushing the Canadian dollar to its lowest level since 2003 and pressuring the euro toward parity. The market impact was broad and severe, with S&P 500 futures dropping 1.6%, European automakers tumbling more than 5%, and cryptocurrencies facing sharp selloffs. The tariffs represent the most extensive protectionist action by a US president in almost a century, prompting dire warnings from major financial institutions. Goldman Sachs warns of a potential 5% US stock market decline, while RBC Capital Markets suggests losses could reach 10%. Bloomberg Economics estimates the measures could reduce US economic growth by 1.2% while adding 0.7% to core inflation. The ripple effects extended to emerging markets and commodities, with the Mexican peso falling over 2% and oil prices surging on supply disruption fears, threatening higher gasoline prices for American consumers. Market analysts describe the move as a watershed moment, with XTB Ltd.'s research director comparing it to "crossing the Rubicon."
READ MOREGold Steadies Near $2,800 as Tariffs Spark Safety Rush
Gold recovered from early losses to trade near $2,800/oz as safe-haven demand from Trump's new tariffs offset pressure from a stronger dollar. Despite initially dropping over 1%, prices stayed close to Friday's record high of $2,817.23 as investors sought protection from potential trade war impacts. Analysts expect gold to reach $2,850 in coming months amid growing economic uncertainty.
READ MOREMarkets Dive as Triple Tariffs Hit Major US Trading Partners
Wall Street is bracing for sharp losses as President Trump's sweeping tariffs against major trading partners threaten to escalate into a full-scale trade war. Futures trading indicates significant market stress, with the tech-heavy Nasdaq 100 leading declines at 1.9%, the S&P 500 dropping 1.7%, and the Dow falling over 600 points or 1.5%. The market turbulence extends globally as European stocks retreat and the US dollar index climbs to two-year highs. The impending tariffs - 25% on Canadian and Mexican goods and 10% on Chinese imports - have already triggered retaliatory measures, with Canada announcing counter-tariffs on $107 billion in US products. The trade tensions are creating significant uncertainty around Trump's 2025 trade agenda, influencing Federal Reserve policy and threatening consumer prices across multiple sectors including automobiles, energy, technology, and food. With Trump also threatening European tariffs, markets face continued pressure as the global trade landscape grows increasingly uncertain.
READ MORETrade War Fears Wipe $300B from Crypto Market Cap
Cryptocurrency markets experienced a dramatic selloff in response to President Trump's announcement of new tariffs against major trading partners, with losses far exceeding those seen in traditional financial markets. Bitcoin plummeted from $106,000 to $95,298, briefly touching $91,231, while Ether suffered its most severe single-day decline in four years, dropping as much as 26% during Asian trading hours to $2,608.21. The crypto market's sharp reaction dwarfed the relatively modest declines in traditional markets, where S&P 500 futures fell 1.7% and Nasdaq-100 futures dropped 2.1%. Even as the U.S. Dollar Index climbed 1.1% to levels not seen since late 2022, the global cryptocurrency market capitalization shrank by 8.72% to $3.08 trillion. The widespread panic selling extended to the memecoin sector, with Trump's namesake cryptocurrency dropping 14% to $17.748, highlighting the market's broad-based vulnerability to macroeconomic shocks.
READ MOREGold Steadies Near Peak as Trade Wars Loom
Gold prices are holding steady near record highs as markets grapple with opposing forces: escalating trade tensions driving safe-haven demand versus a surging dollar dampening buying interest. Trump's announcement of tariffs (25% on Canada/Mexico, 10% on China) has triggered global retaliation threats and market uncertainty, typically positive for gold. However, the dollar's jump to two-year highs is offsetting these supportive factors, as a stronger dollar makes gold more expensive for foreign buyers. The trade war's impact is already visible in precious metals markets, with U.S. gold and silver prices trading above international benchmarks as traders rush to move metal before tariff implementation. While gold's safe-haven status typically shines during global uncertainty, analysts note that higher interest rates from tariff-driven inflation could pose headwinds for the non-yielding metal. Despite these challenges, gold has maintained its upward trajectory, rising 7% this year after 2024's substantial 27% gain.
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