The Fed Hiked to 4%. Unanimously. Gold Rallied 2% the Next Day.
The Fed's first rate hike since 2023: unanimous 25bps to 3.75–4%. Gold dipped, then surged 2%. Silver added 8% in two sessions. December hike expected.
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August CPI Accelerated. FOMC Hike Odds Hit 83%. The Decision Is Wednesday.
August CPI rose 0.4% on the month — well ahead of July's 0.1% and the hottest monthly acceleration in 2026. Core inflation accelerated to 0.3%. September rate-hike odds immediately jumped to 83%. The FOMC meets Tuesday and Wednesday. Gold is at $4,330 today — and China bought another 20 tonnes while gold was expensive.
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289 Tonnes. Q2 Record. Korea Buys Gold for the First Time Since 2013.
The World Gold Council's Q2 2026 Gold Demand Trends report landed July 30: central banks bought a record 289 tonnes — a 62% increase year-over-year, five times the revised Q1 figure. Poland led with 51 tonnes. Korea ended a 13-year buying absence. And Warsh held rates with three dissenting votes for an immediate hike.
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Close Your Position or Take the Metal: What China Just Did to Its Paper Gold Market
On July 24, ICBC — the world's largest bank — shut down retail paper gold trading in China. Millions of customers were told to close their positions or take physical delivery. Simultaneously, Hong Kong's vault capacity expanded from 6 to 64 million ounces. China isn't walking away from gold. It's replacing paper with physical.
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The Oil Shock That Was Bad for Gold — and the CPI Print That Changed Everything
An Iran/Hormuz oil shock knocked gold below $4,000 on July 13 — not because of fear, but because oil spikes inflation expectations, which lifts rate-hike odds, which strengthens the dollar. Then June CPI came in at 3.5% and flipped the script. Gold is at $4,011 today, and the 70.8:1 gold-silver ratio is sending its own signal.