Dear Atlanta Fed, Either Gold is money or we're in a recession. Which is it?

Market Rundown |

Mar 28, 2025

∙ Paid

Housekeeping: Good Morning. **GoldFix will be raising subscription prices for new subscribers very soon. All prior subscribers will be locked in for life at prices they signed up**

“All Gold is monetary Gold ”

Today

Discussion: The Last Time Gold Did This…
Premium: Daily Financial News

Analysis:

The Last Time Gold Did This…

Yesterday’s gain boosts gold’s QTD advance over 16%, the highest quarterly gain since 1986.
Most past precedents are concentrated in the 1970s-1980s -- a protracted stagflation period marked by multiple economic recessions and very high inflation.

And it appears the market is pricing in another such period...

The Fed’s Treatment of Gold is a Problem

The US economic runway is being smoothed for something.

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -1.8 percent on March 26, unchanged from March 18 after rounding. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of first-quarter real gross private domestic investment growth decreased from 9.1 percent to 8.8 percent. The alternative model forecast, which adjusts for imports and exports of gold is 0.2 percent.

ATL Fed is putting back in economic effect of Gold.
Contradicting decades of economic data-dogma
Noone is asking why this change in status
Noone is asking why all this gold is being delivered.
Why readjust if Gold is a pet rock? Reverse Gaslighting

Featured:

Mar 27

Read full story

Founders: Goldman Sees $4,500 Tail Risk in 2025, Raises all Targets

VBL

Mar 27

Read full story

GoldFixPM: Lots to Digest Here

Mar 27

Read full story

Markets Recap:

Stocks ended lower, while benchmark Treasury yields rose as investors assessed the economic impact of President Donald Trump’s auto tariffs. The dollar weakened as uncertainties loom about reciprocal tariffs. In commodities, oil prices inched up amid supply and trade war concerns, while gold scaled a record peak on safe haven demand.

Market News:

Trump's auto tariffs will hit many companies, but Elon Musk's Tesla less.
Car-carrying ships send added cargo to US ahead of looming tariffs
hly figure to be higher than last year's. Car rental firms Hertz, Avis zoom as tariffs seen hurting new-vehicle demand
RBC bets on AI, keeps growth goals intact despite trade concerns