Daily Gold Market Report

“Gold is not just a metal; it’s a statement on the global economy.”
Paul Tudor Jones Delves Into The Weak U.S. Fiscal Position

(USAGOLD – 10/11/2023) Gold continues to climb higher today, up $12.32 from yesterday’s close at $1872.72 per ounce. Silver is trading at $22.05, up 21 cents. Paul Tudor Jones (PTJ), a renowned hedge fund manager, was interviewed yesterday on CNBC’s “Squawk Box” and discussed the importance of adaptability and flexibility in the world of trading. Here are some notable quotes from the interview:

“It’s a really challenging time to want to be an equity investor and in U.S. stocks right now. You’ve got the geopolitical uncertainty… the United States is probably in its weakest fiscal position since certainly World War II with debt-to-GDP at 122%.”

“As interest costs go up in the United States, you get in this vicious circle, where higher interest rates cause higher funding costs, cause higher debt issuance, which cause further bond liquidation, which cause higher rates, which put us in an untenable fiscal position.”

“The bond market, simply through supply and demand, is going to deliver more rate hikes, because we don’t have a clearing price yet for long-term debt. So those rate hikes are probably going to tip us into recession.”