ATTENTION: income investors
The Perfect Storm: Why November's Fed Meeting Could Trigger Gold's Next Big Move
Ready for some fireworks in the gold market? November's shaping up to be a game-changer, and here's why: The Fed's upcoming meeting on November 7th could be the most important one this year. After yesterday's surprisingly weak jobs report (just 89,000 jobs added versus the expected 170,000), economists at Goldman Sachs and Morgan Stanley are now predicting the Fed will signal rate cuts starting as early as January – we're talking about 175 basis points of cuts through next May.
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Look what happened just this morning: Gold jumped $43 an ounce when St. Louis Fed President James Williams hinted at "considering policy adjustments given the cooling inflation data." That's code for rate cuts, folks, and gold loves that kind of talk. BlackRock's latest report suggests institutional investors are already positioning themselves – they've moved $14.2 billion into gold-backed ETFs in just the last three weeks.
But here's where it gets really interesting. The presidential election is adding another layer of excitement. Remember how gold surged 12% during the 2020 election uncertainty? Well, this time we're seeing even bigger moves in the options market. Yesterday, someone bought $500 million worth of December gold calls with a $3,000 strike price – that's a pretty big bet on election volatility!
And let's not forget what's happening globally. The Middle East situation remains tense, with oil prices jumping 5% yesterday. China and Taiwan are back in the headlines, and Russia just announced they're converting another 10% of their reserves to gold. Even Switzerland, traditionally super conservative, increased its gold reserves for the first time in 15 years last week.
The retail rush is reaching fever pitch too. Costco's CEO mentioned in yesterday's earnings call that they're limiting gold bar purchases to two per member after selling out within hours last week. APMEX and JM Bullion are showing 3-4 week delays on most products, and premiums on physical gold have hit 8% – the highest since 2020.
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You Need To Watch This Next
How to Shield Your Savings from Washington's Pickpockets and
Avoid a Retirement Shortfall
Washington's reckless spending is ruining the economy, destroying the dollar and robbing your retirement savings.
But you don't have to sit by and take it...
Thanks to a little-known "IRS loophole," you can shift savings into the safety of gold without penalties or taxes taken.
If you absolutely REFUSE to let greedy politicians ruin your retirement...
Get your FREE 2024 Gold Guide and discover how to secure your savings and avoid a retirement shortfall while you still can.
TRENDING STORIES
Washington's reckless spending is ruining the economy, destroying the dollar and robbing your retirement savings.
But you don't have to sit by and take it...Thanks to a little-known "IRS loophole," you can shift savings into the safety of gold without penalties or taxes taken.If you absolutely REFUSE to let greedy politicians ruin your retirement...Get your
FREE 2024 Gold Guide and discover how to secure your savings and avoid a retirement shortfall while you still can.
There is nothing the Federal Reserve can do to stop what's coming next for U.S. stocks. As you've seen yourself with all this recent volatility...The wheels are falling off the United States stock market.
If you think a simple rate cut can "solve" this...
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