With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
"The bigger picture to me is this idea that the paper money supply keeps increasing against gold. It's not necessarily about gold prices rising, it's about the value of paper currencies falling in relation to gold," said Will Rhind of GraniteShares.
Will Rhind, CEO of GraniteShares, discusses gold's ongoing price momentum and latest all-time high, saying he sees fear as a key driver right now.
However, increasing M2 money supply is also an important underlying factor for the yellow metal.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
This week has brought ups and downs for the gold price as US President Donald Trump's tariff decisions continue to create widespread uncertainty across sectors globally.
The yellow metal started the week at about US$3,020 per ounce, but quickly tumbled below the US$3,000 level as markets around the world took a beating.
Although gold is known as a safe haven, it's common for it to fall in tandem with other assets during widespread downturns. The idea is that gold won't drop as hard and will recover more quickly.
Speaking just after gold's fall, Gary Wagner of TheGoldForecast.com explained that its decline shouldn't be concerning for investors. Here's how he explained it:
"One thing that is clear is that when equities came under fire ... liquidation happened across the board in multiple asset groups and classes. Gold was kind of a witness to that, and the massive liquidation that occurred was either to liquidate profitable positions to cover margin calls, or just to get more into cash than they had been in terms of the position of the portfolio. So to me it's not that unexpected, and the amount of the decline is actually fairly calm considering how much it's gone up."
Wagner's advice not to worry about gold's pullback was prescient — the precious metal was back on the move by Wednesday (April 9), and on Thursday (April 10) it notched yet another fresh all-time high.
It continued moving upward on Friday (April 11), breaking US$3,200 and setting another price record.
Gold's midweek rebound came after Trump's turnaround on tariffs — in a surprise move on Wednesday, he announced a 90 day pause on "reciprocal" tariffs for most countries.
China is an exception — Trump said he would be boosting China's rate to 125 percent after the Asian nation announced further retaliatory tariffs against the US. It's since been clarified that tariffs on China stand at 145 percent; on Friday, China said it would raise its tariffs on the US to 125 percent.
Canada and Mexico are also exceptions. Most goods from these countries are already subject to 25 percent tariffs, and these will remain in place. Blanket 25 percent tariffs on cars and car parts, as well as steel and aluminum, have also not been affected at this point.
The reversal from Trump came not long after he encouraged his followers on Truth Social to "be cool" and told them it was "a great time to buy." It also reportedly came after White House officials put increasing pressure on Trump to change course. Worries about a selloff in US government bonds raised alarm bells, with Treasury Secretary Scott Bessent taking these concerns to Trump.
"The bond market is very tricky, I was watching it. The bond market right now is beautiful. But yeah, I saw last night where people were getting a little queasy" — Trump
Major US indexes rebounded strongly once Trump announced his decision, and although they had given up some gains by the end of the week, they still finished the period in the green.
In terms of where that leaves gold, many experts with agree its prospects still look bright even as it trades at all-time highs. Here's what Will Rhind of GraniteShares said:
"If you look at something called the M2 ratio, which is the money supply divided by the price of gold, that is a particularly scary chart. Obviously if history is any guide, then when the ratio is high, that typically means that gold is overvalued, and when the ratio is low, that typically means that gold is undervalued.
"If you look at it right now, we're somewhat I would say below the median. In other words, we're closer to gold being undervalued rather than overvalued at a time when we just talked about gold hitting a new all-time high."
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Gold fell below US$3,000 per ounce this week before rocketing to a new all-time high.
Gary Wagner, executive producer at TheGoldForecast.com, explains why that happened and how he expects the yellow metal to perform in the long term as market turmoil continues.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Dr. Phillip Magness of the Independent Institute discusses the impact of US President Donald Trump's latest round of tariffs, outlining their potential effects on the economy and stock market.
"This could be the event that supercharges us into a recession — it could be the major trigger," he said.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Christopher Aaron, founder of iGoldAdvisor and Elite Private Placements, discusses a key signal from the Dow-to-gold ratio, saying a multi-decade trend in favor of stocks has been broken.
This is only the fourth time this situation has played out in the last 125 years.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Jim Thorne, chief market strategist at Wellington-Altus, discusses which assets investors should focus on in today's tumultuous environment.
He sees promise in gold and silver, as well as Bitcoin and the artificial intelligence sector.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
