Gold to Soar! It's Not Just a Prediction, It's a Warning – Hold Gold Now - Andy Schectman

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Gold to Soar! It's Not Just a Prediction, It's a Warning – Hold Gold Now - Andy Schectman

In the ever-changing currents of global financial markets, the words of Andy Schectman ring true: "The markets are more powerful than any central bank.". Schectman also points out an emerging trend in international relations. Some countries pursue mutually beneficial objectives rather than allowing the West to dictate terms. This perspective reflects a changing dynamic in global politics and economics.
On the other side of the world, Prime Minister Datuk Seri Anwar Ibrahim has announced discussions about using a gold-backed currency in Malaysia. These deliberations will occur during an upcoming December meeting focusing on Islamic economics and finance. This move showcases Malaysia's active exploration of the concept of the gold dinar as a reserve currency, indicating a growing interest in precious metals as a financial safeguard.
In global trade, President Xi Jinping has made an intriguing commitment to Gulf Arab leaders. China seeks to purchase oil and gas using the yuan, a move that not only supports Beijing's ambition to promote its currency on the international stage but also has the potential to weaken the US dollar's stranglehold on world trade.
The surge in China's local gold prices and Chinese banks distancing themselves from Western gold price auctions suggests a significant shift in the precious metals market. Andy Schectman's belief that China may assume a more prominent role in setting gold and silver prices underscores the changing dynamics of the global financial system, as Western entities like the COMEX and LBMA face challenges to their historical dominance.
Andy's assessment points to a complex economic dilemma – the potential consequences of central banks' actions to control inflation through interest rate hikes. While these measures are intended to rein in rising prices, they also carry the risk of further economic strain, adding pressure to the financial system. The United States is grappling with its first significant inflation crisis in decades, with the Federal Reserve resorting to aggressive interest rate hikes to counter it. This turbulent economic environment has left both Main Street and Wall Street uncertain, affecting consumers and leaving investors in a perpetual state of hesitation.
However, some analysts have a growing sentiment that the Federal Reserve's influence on the economy may not be as dominant as it once was. Fed Chair Jerome Powell's recent remarks at the Economic Club of New York suggest a shift in the central bank's role in controlling the inflation narrative. Joe Brusuelas, RSM US chief economist, noted Powell's implication that the Fed might no longer hold the reins on the inflation story.

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