Daily Gold Market Report

Gold takes breather after solid two-trading session run-up
Roubini says ‘gold has upside in this environment’

(USAGOLD – 3/14/2023) – Gold is taking a breather this morning after the solid run-up that saw it gain 4% over the course of two trading sessions. It is down $8 at $1908. Silver is down 4¢ at $21.82. Gold has yet to react to this morning’s mixed CPI release showing a 6% inflation gain (versus a 6.2% consensus expectation), with core inflation exceeding expectations at 5.5%.

In an interview yesterday at Stansberry Research, Stern School of Business’ Nouriel Roubini said we are only in the first few innings of a major debt crisis. “The real economy and financial economy,” he warned, “are contradicting each other, and the government created a mess of too much debt and now it becomes another leverage cycle all over again. The Fed has been doing backdoor QE, and the financial system is reckless… Everything was in a bubble two years ago. Even in a mild recession, the S&P is going to fall between 30% and 50%, and gold has upside in this environment.”

Gold price
(%, 3/10/2023 through 3/13/2023)
Chart courtesy of TradingView.com