Bostic's Cautious Outlook: Atlanta Fed Chief Projects One More Rate Cut in 2024
Atlanta Fed President Raphael Bostic revealed that he projected one additional 25 basis point rate cut for 2024 in his recent Federal Reserve meeting forecast. This is less than the median projection of 50 basis points in further cuts. However, Bostic emphasized that his outlook remains flexible and will be adjusted based on incoming economic data, particularly regarding inflation and employment.
India's Import Bill Shrinks, Narrowing September Trade Gap
In September 2024, India's trade balance showed signs of improvement as the deficit narrowed to $20.78 billion, lower than economists' expectations of $24.63 billion. This positive shift was largely attributed to reduced gold imports, which helped moderate the overall import bill. Despite global economic challenges, India's exports maintained a slight growth, with sectors like engineering goods, plastics, and pharmaceuticals performing well.
Election Uncertainty Propels Gold to New Heights
Gold prices are rising towards new record highs as investors focus on the upcoming U.S. presidential election and potential Federal Reserve rate cuts. The precious metal's appeal as a safe-haven asset, combined with strong central bank buying, has driven its performance in 2024. Uncertainty surrounding the election outcome and potential policy changes are prompting investors to adjust their portfolios, further supporting gold's rally.
Playbook for the Next Crisis – Where These Experts Are Investing | Gammon, Maloney & Moss
In this eye-opening panel discussion, George Gammon, Mike Maloney and Mark Moss dive deep into the economic realities we face today.
Central Banks Maintain Gold Appetite Despite Price Surge
Central banks continue to value gold as a key component of their reserves, despite recent price increases and a slowdown in purchases by some countries. Representatives from the Czech Republic, Mongolia, and Mexico emphasized the importance of gold for diversification and security at a recent bullion conference. While global central bank gold purchases have slowed in 2024, they remain significant, with a 6% increase to 183 tons in the second quarter.