Housekeeping: Good Morning.
“The Gold reset is a process, not an event”
Today
Discussion: WGC Report Key highlights
Premium: Reached $3,000 in Record Time, Now What
Analysis:
WGC Report Key highlights
• Gold’s new milestone: Gold recently crossed US$3,000/oz intraday – a headline-worthy event, but the true significance for gold lies in the broader economic trends driving its rise.
• Price momentum: Gold surged from US$2,500/oz to US$3,000 in just 210 days, pushing it three standard deviations above its 200-day moving average
• Market fundamentals: While gold may face some consolidation due to the speed of its latest move, the combination of geopolitical and geoeconomic uncertainty, rising inflation, lower rates and a weaker US dollar continue to provide powerful tailwinds to investment demand.
Full Report at bottom…
GoldFix Summary: $3,000 in Record Time, Now What
Momentum Matters More Than Milestones
Deviation Signals Heat
What Comes Next: Two Paths
Don't Confuse Psychology With Fundamentals
Finally…
Full Report at bottom…
Featured:
Markets Recap: Reality Check
Stocks closed sharply higher and Treasury yields climbed after reports that President Donald Trump's tariff plan may use a more targeted approach than previously thought, boosting risk appetite. The dollar strengthened as U.S. business activity picked up in March, pushing gold lower. Oil prices were up on Venezuela oil and gas tariffs.
Gold: Gold prices dropped as the dollar touched an over two-week high, while investors took stock of U.S. President Donald Trump's more cautious stance on tariffs against trading partners.
Market News: Onshoring Continues
“President Trump said that he might soften reciprocal tariffs he plans to impose on U.S. trading partners next month, and that some nations might be exempt. WSJ- Trump strategy comment
“China is considering including services in a multibillion-dollar subsidy programme to stimulate consumption.. FT
“23andMe, which provides medical and ancestry-related genetic testing, filed for bankruptcy after it was unable to find a buyer to rescue it from insolvency proceedings Bloomberg
“South Korean conglomerate Hyundai on Monday announced a roughly $21 billion investment in U.S. onshoring. CNBC
“Korean chip startup FuriosaAI has turned down an $800 million takeover offer from Meta Platforms, choosing instead to grow the business as an independent company.” Source: Bloomberg
“Boeing is seeking to withdraw an earlier agreement to plead guilty in a long-running criminal case that blamed the company for deceiving regulators before two deadly crashes of 737 MAX jets... WSJ
“Massachusetts' top securities regulator has begun an investigation into trading platform Robinhood's decision to launch a prediction-markets hub Reuters
Geopolitics/ Politics:
H/t Newsquawk for Geopol
Data on Deck: PCE/GDP
MONDAY, MARCH 24 PMI
TUESDAY, MARCH 25 New home sales
WEDNESDAY, MARCH 26 Durable-goods
THURSDAY, MARCH 27 GDP
FRIDAY, MARCH 28 PCE 1
Summary and Final Market Check
