The Pod of Gold: Banks go down, rates go up and gold runs hard

In this episode we analyse why gold has fallen back from its peak despite recent US banks collapsing, we look at the reasons behind the Fed rate hike and why banks will be forced to raise rates, leading to more pressure this tightening cycle.

Timestamps:

• 00:00 – Intro
• 01:00 – The gold trade isn’t crowded despite gold’s run
• 03:55 – Traders didn’t want to be short gold with the swirl of news flow
• 05:25 – Au lost momentum at US$2,000, support remains above US$1,900
• 10:45 – Litigation in the pipeline
• 12:10 – Substantial short covering in silver
• 15:55 – The Fed couldn’t increase rates by 0.50%…but they couldn’t do nothing either
• 25:55 – Tightening isn’t just being driven by the Fed
• 26:30 – International outlook weighs on Aussie dollar
• 29:22 – Gold and the global economy over 2023