The economy started the year on a strong note, and the gold market is taking a hit. The Federal Reserve might need to raise rates more than expected since inflation is not coming down fast enough.
Here’s a look at Kitco’s top 3 stories of the week:
3. Macro data: Gold price drops below $1,850 as U.S. retail sales surprise on the upside in January
https://www.kitco.com/news/2023-02-15/Gold-price-drops-below-1-850-as-U-S-retail-sales-surprise-on-the-upside-in-January.html
2. Frank Giustra warns that the dollar will be dethroned in ‘bifurcated’ global monetary system
https://www.kitco.com/news/2023-02-14/Dollar-will-be-dethroned-in-bifurcated-global-monetary-system-CBDCs-and-AI-could-usher-in-a-terrifying-world-with-mass-joblessness-and-digital-control-Frank-Giustra.html
1. Billionaire John Paulson: central banks are replacing dollars with gold, you are better off investing in precious metal than USD
https://www.kitco.com/news/2023-02-14/Billionaire-John-Paulson-central-banks-are-replacing-dollars-with-gold-you-are-better-off-investing-in-precious-metal-than-USD.html
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