Central Banks Are Buying GoldIn recent years, central banks worldwide have been buying gold in much larger quantities than in the past. This has potentially negative effects to the US economy, and the dollar. According to the World Gold Council, central banks bought a record 1,081.9 tons of gold in 2022. In 2023, that number was 1,037.4 tons. For context, in 2021, central banks only bought 450.11 tons. 2024 has already shown that it will be no different this year. But what does this mean, and why should you care?Central banks traditionally hold gold for its stability and value retention. However, the recent surge in purchases indicates a shift in priorities. By boosting gold holdings,...

Gold slips on profit-taking early Monday following the yellow metal’s recent record highs, while haven demand following an escalation in the Middle East conflicts over the weekend supported it. Gold has reached new records in the past week and a half since the Federal Reserve cut interest rates for the first time since the pandemic. It’s expected to continue further loosening monetary policy, particularly after the Fed’s favorite inflation indicator, the personal consumption expenditures price index, came in lower than expected on Friday. Looser monetary policy is typically bullish for precious metals, increasing their appeal as alternate investments.  Separately, an Israeli airstrike hit central Beirut early Monday, hours after reaching targets across Lebanon and killing dozens...