Daily Gold Market Report

Posted on March 6, 2024 by Jake Farlow

Beyond the Numbers:
How Elections, Tariffs, and Geopolitical Tensions Shape Economic Forecasts

(USAGOLD – 3/6/2024) Gold prices continue to flirt with an all time high this morning. Gold is trading at $2142.94, up $14.90. Silver is trading at $23.99, up 32 cents. Michael Every of Rabobank recently wrote a article entitled “The End/Beginning of a Golden Age” that discusses the complex interplay of economic forecasts, political events, and global trade policies, focusing on recent comments from the Fed’s Bostic about potential rate cuts and their implications on inflation. He highlights the impact of the US election cycle, especially considering a potential Trump victory and its implications on trade tariffs and global economic dynamics. Every critiques economists’ tendencies to ignore political influences on economic outcomes, emphasizing the importance of understanding political, legal, and geopolitical factors in economic modeling and forecasts. The discussion also touches on global shifts such as China’s economic targets, BRICS’ financial strategies, and geopolitical tensions affecting economies worldwide.

“[A]s one golden age may be ending, geopolitical breakdowns are seeing more talk about the revival of a monetary golden age or a digital one.”
-Michael Every
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