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In a landmark week for the precious metals market, gold futures have reached unprecedented heights, surpassing the $2600 per troy ounce mark for the first time in history.
As of 5 PM EDT, the most actively traded December contract settled at $2606.20, reflecting a net gain of $19, or 0.73%, for the day. This surge marks the second consecutive day of record-breaking highs, with an intraday peak hitting an astonishing $2614.60.
This remarkable rise in gold prices follows a robust $47 gain yesterday, the largest single-day increase since August 16. The dramatic ascent of gold futures will be remembered as a pivotal moment in financial history, as the market crossed the $2600 threshold.
“The phones have been ringing off the hook,” said Jonathan Rose, CEO of faith-driven gold IRA company Genesis Gold Group. “Americans are seeing the writing on the wall and realizing the best way they can protect their retirement is by backing it with physical precious metals.”
As market participants digest this historic event, their focus is now shifting to next week’s Federal Open Market Committee (FOMC) meeting. This gathering is anticipated to be one of the most significant of the year, with widespread expectations for the first interest rate cut since 2020. Analysts, economists, and market observers largely agree that a rate reduction is virtually assured.
The groundwork for this critical decision was laid on August 20, when Federal Reserve Chairman Jerome Powell indicated the central bank’s readiness to cut rates during a speech in Jackson Hole, Wyoming. This sentiment has been echoed by other Fed officials, reinforcing the belief that monetary easing is on the horizon.
Chicago Fed President Austan Goolsbee recently stated, “long-term trends in both the labor market and inflation data justify a swift transition to a more accommodative monetary policy.” He also warned against “prolonged tightening,” highlighting the potential risks to employment levels.
While the likelihood of a rate cut is high, the extent of the reduction remains a topic of debate. Economists at Fitch predict a cautious approach, forecasting two 25 basis point cuts—one next week and another in December. Conversely, some analysts, including Krishna Guha of Evercore ISI, advocate for a more aggressive 50 basis point reduction to ensure economic stability.
Former Fed Vice-Chair Donald Kohn emphasized the central bank’s adaptability, stating, “the central bank’s flexibility, noting its ability to swiftly adjust policy if inflation resurges, reminiscent of its aggressive stance in 2022.” Current Fed Governor Christopher Waller and New York Fed President John Williams have both expressed an “openness to various cut scenarios, depending on incoming economic data.”
The CME’s FedWatch tool indicates a growing market expectation for a more substantial rate cut. Notably, “the probability of a 50-basis point reduction next week has surged from 28% to 45% in just one day, with a 55% likelihood of a 25-basis point cut.”
As the financial community awaits the FOMC’s decision, the recent performance of the gold market serves as a barometer of economic uncertainty and anticipation. Market participants will be closely monitoring these historic developments, which have the potential to reshape the financial landscape in the weeks and months ahead.
Controlling Protein Is One of the Globalists’ Primary Goals
Between the globalists, corporate interests, and our own government, the food supply is being targeted from multiple angles. It isn’t just silly regulations and misguided subsidies driving natural foods away. Bird flu, sabotaged food processing plants, mysterious deaths of entire cattle herds, arson attacks, and an incessant push to make climate change the primary consideration for all things are combining for a perfect storm to exacerbate the ongoing food crisis.
The primary target is protein. Specifically, they’re going after beef as the environmental boogeyman. They want us eating vegetable-based proteins, lab-grown meat, or even bugs instead of anything that walked the pastures of America. This is why we launched a long-term storage prepper beef company that provides high-quality food that’s shelf-stable for up to 25-years.
At Prepper All-Naturals, we believe Americans should be eating real food today and into the future regardless of what the powers-that-be demand of us. We will never use lab-grown beef. We will never allow our cattle to be injected with mRNA vaccines. We will never bow to the draconian diktats of the climate change cult.
Visit Prepper All-Naturals and use promo code “veterans25” to get 25% off plus free shipping on Ribeye, NY Strip, Tenderloin, and other high-quality cuts of beef. It’s cooked sous vide, then freeze dried and packaged with no other ingredients, just beef. Stock up for the long haul today.
