I do not understand why such news would cause gold price to go up... What Trump is clearly aiming for is to replace gold with cryptocurrencies - that's why his recent moves to have his own coin, allow crypto in 401(k), push toward "crypto dollar", and now trying to limit gold inflow to US with tariffs. If this goes as planned then gold will become less relevant in global monetary system, so it should go down, right?
Ancalagon•40m ago
expected increase in scarcity - supply and demand
Detrytus•30m ago
Yeah, silly me. Futures are very short-term instruments, not concerned about what this news would mean a few years from now.
akomtu•8m ago
I have a simpler explanation: he's bought a bunch of bitcoins and uses his position to inflate its price. If it's true, at some point he'll decide to cash out and announce that he will make bitcoin illegal to drop its price back. Maybe he'll repeat this cycle a few times.
ChrisArchitect•17m ago
Related:
US Adds Surprise Gold Bar Tariff in Blow to Switzerland
anigbrowl•3h ago