The future looks bright for gold

 Trump ‘likely’ will fire Fed Chair Powell ‘soon’: White House official

These people are nuts.

SPX vs. gold since 1913

 

Gold 1913-2025 ($20.67-$3500.05 peak on April 22, 2025): 4.689% compound annual growth rate, nominal.

The S&P 500 did better than that in nominal terms.  SPX 4/1913-4/2025 (8.79-5369.50, monthly average prices): 5.895% compound annual growth rate, which does not include dividends reinvested; the nominal per annum plus dividends reinvested produced 10.14% total nominal per annum.

In real terms the $20.67 price of gold in April 1913 is only $676.62 in April 2025, or 3.164% CAGR inflation over the period. So in real terms gold is up just 1.478% per annum over the period (from $676.62 to $3500.05). 

Again in real terms SPX is up more, 2.65% per annum without dividends reinvested over the period, and even more with dividends reinvested, 6.76% per annum.

Spot gold on July 4th was lower than in April, at $3329.67. 

SPX made a new high for the Fourth of July.

 

 

Spot gold retreats 5.5% from record high $3,500.05

 

... Spot gold slipped 2.2% at $3,305.79 an ounce by 09:23 a.m. ET (1323 GMT), after hitting a record high of $3,500.05 in the previous session. U.S. gold futures dropped 2.9% to $3,320.40. ...

More.

Spot gold touches record high of $3,473.03 in early trading, later climbs to $3,500.05

 

Spot gold was up 1.4% at $3,472.49 an ounce, as of 0247 GMT, after touching a record high of $3,473.03 per ounce earlier in the session.

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Gold futures surge above $3,400 per ounce

 Gold surges to a record above $3,400 as Trump threatens Fed independence

Gold prices broke $3,400 on Monday, hitting a new record as President Donald Trump’s threats against the Federal Reserve’s independence and his tariffs shake investor confidence in the U.S. economy.

Gold futures jumped about 2.69% to $3,418 per ounce by 8:20 a.m. ET on Monday, with investors buying the precious metal as the dollar hit a three-year low.

Gold has jumped about 29% since the start of the year and nearly 8% since Trump unveiled his sweeping tariffs on April 2.

Trump said last Thursday that Fed Chair Jerome Powell’s “termination cannot come fast enough,” after the U.S. central bank chief warned that the president’s tariffs will likely increase inflation in the near term. ...

 

Gold sets another new record high soaring to $3,357.40

 

Gold prices eased on Thursday after a sharp rise in the previous session as investors booked profits ahead of a long weekend, although softer dollar and escalating U.S.-China trade tensions kept bullion above the $3,300 per ounce level.

Spot gold slipped 0.5% to $3,326.51 an ounce, after touching a record high of $3,357.40 earlier in the session. Bullion has gained nearly 3% this week. ...

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Gold climbs to $3,275.20 per ounce

 CNBC.

Gold to $3,245.42

CNBC:

Spot gold was down 1.1% at $3,200.11 an ounce after hitting an all-time high of $3,245.42. U.S. gold futures fell 0.9% to $3,216.20.

The previous high was $3,245.28, just 14 cents lower than the new all-time high, which makes the new high kinda lame.

Gold just keeps making new records: $3,245.28

 ... Spot gold was up nearly 2% at $3,235.89 an ounce, after hitting a record high of $3,245.28 earlier in the session. Bullion is up over 6% this week. ...

“Gold is clearly seen as the favored safe-haven asset in a world upended by Trump’s trade war. The U.S. dollar has depreciated, and U.S. Treasuries are selling off hard, as faith in the U.S. as a reliable trading partner has diminished,” said Nitesh Shah, commodities strategist at WisdomTree. ...

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GOLD soars as high as $3,219.84

 ... Spot gold jumped over 1.3% to $3,216.27 an ounce after hitting a record high of $3,219.84 earlier in the session. Bullion is up over 5% so far this week. U.S. gold futures climbed 1.7% to $3,230.60. ...

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GOLD to $3,171.49

 Gold hits record high as U.S.-China trade war intensifies, dollar weakens

 Gold prices jumped nearly 3% to an all-time high on Thursday, as a drop in the dollar and an escalating trade war between the U.S. and China drove investors towards the safe-haven allure of the precious metal.

Spot gold climbed 2.5% to $3,158.28 an ounce, after hitting a record high of $3,171.49 earlier in the session. ...

Gold hit another new record high on Thursday April 3, 2025 at $3,167.57

 

... Gold prices fell to a more-than-three-week low on Monday amid a wider market sell-off, continuing their retreat as investors dumped bullion to cover their losses in other trades on fears of a global recession due to an escalating global trade war. ...

 

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Investors sell gold to cover stock losses, but price remains above moving average of $3,023

 

 Reported here:

... Spot gold was down 2.9% at $3,024.2 an ounce, after hitting a session low of $3,015.29 earlier in the session.

It hit a record high of $3,167.57 on Thursday. For the week, gold was down 1.9%.

U.S. gold futures settled 2.8% lower at $3,035.40.

On the technical front, spot gold price managed to hold above its 21-day moving average of $3,023. ...

Spot gold hit an all-time high of $3,148.88 today

 -- CNBC

 

Gold hits its eighteenth record high this year at $3,086.70

 -- CNBC

Gold made another new record high price today at $3,059.30, the 17th new high of the year

 

According to CNBC here.

An earlier version of the story incorrectly stated a futures price as the new high spot price.

Blink and you'll miss it: Gold made yet another new high Thursday, the 16th this year

$3,057.21

-- CNBC

... the April 2 deadline draws near for the next wave of U.S. tariffs ...

15th record high for gold this year

 Bullion surged to an all-time high of $3,045.24 earlier in the session, marking its 15th record peak this year.

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Gold hit another record high at $3,004.86 on Friday March 14th

 CNBC here.

Gold makes 12th record high in 2025 at $2,977.36

 

Spot gold climbed 1.6% to $2,977.36 an ounce, its twelfth record peak to date in 2025.

Prices are up nearly 14% so far this year after a solid 27% gain in 2024. U.S. gold futures rose 1.4% to $2,989.

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