BREAKING NEWS: Bessent says 'No' to Repricing, Gold Shrugs it off
Trump Calls for Ft. Knox Audit, Bessent says No Gold Revaluation
After putting in a new all time high during Asian and European hours, Gold seemed poised to run to $3000 in the very near future. However, a very mixed message came out of the Trump administration. About 30 minutes prior to this post period two messages came out of the White House.
The first one was from Donald Trump himself., calling for an audit of Fort Knox.
CLIP: “We’re going to go to Fort Knox make sure the gold is there,” Trump said, adding “if the gold isn’t there we are going to be very upset.”
The second one was less constructive for gold's price, coming directly from Scott Bessent himself. Bessent was key in the growing revaluation concept for gold because of his comments during President Trump's executive order signing into existence. A sovereign wealth fund.
Back then, he said, he would seek to monetize the United States balance sheets assets for further investment. Many, gold bugs and those outside of our community saw this as a harbinger of gold value. for the balance sheet.
This morning, however. the Treasury Secretary seemed firm in his comment that no gold revaluation would be forthcoming.
CLIP: Bessent said revaluing US gold reserves is “not what I had in mind” when he discussed monetizing assets for the SWF