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For a deeper dive into the forces driving $gold in today’s market, check out our summary and watch the full @KitcoNewsNOW interview here: merkinvestments.com/insights-and-r… x.com/KitcoNewsNOW/s…

ECB going all in on cuts. Rehn: “If June forecasts show sub-2% inflation, we should cut more.”
Lagarde says tariffs are a demand shock—but retaliation could turn it into a supply shock.
If cutting into a supply shock, that’s inflationary.
reuters.com/markets/europe…

I've argued that the market's reactions to Trump's lashing out at Powell wasn't taken seriously by the market, as evidenced by long-term inflation expectations remaining stable. @jmackin2 points out to me that those indeed moved, directionally. So I looked more closely: Below is

I looked at the price of gold after dinner. Can’t folks make up their mind? It’s the same gold as a few hours ago!

The nice thing about news nowadays is that if you don't like what you read, you wait five minutes. 🤷‍♂️
wsj.com/politics/polic… x.com/AxelMerk/statu…

“the hullabaloo over tariffs is overblown. A 10% tariff on all goods is only about 1% added cost to the economy”

Serious question: If this is correct, why is the market reaction so strong to any change in tariffs?
wsj.com/opinion/a-new-…

When 65% tariffs are good news... 🧐🍿 x.com/DeItaone/statu…