Gold Now Outranks U.S. Treasuries in Global Reserves. Hot CPI Just Made It Cheaper.
Gold hit 27% of global CB reserves, overtaking Treasuries. Then May CPI printed 4.2%, gold fell to $4,172 — and bounced back to $4,343.
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Gold hit 27% of global CB reserves, overtaking Treasuries. Then May CPI printed 4.2%, gold fell to $4,172 — and bounced back to $4,343.
Goldman Sachs raised its year-end gold target from $4,300 to $4,900 on Thursday. By Monday, gold was at $4,302 — its lowest level in two months. The divergence between what institutions expect and what spot price is doing right now is telling you something important.
Three Asian governments tried to control gold this week. Malaysia imposed a 10% duty. India's local market swung to a $106/oz discount. China's Hong Kong imports surged 81%. Gold always finds a way — and Asia is proving it in real time.
Gold is rallying this morning on reports the US and Iran are nearing a Hormuz deal — not because things are bad, but because peace could cool inflation and revive rate cuts. Silver had its most volatile week of 2026. Here is the setup.
April CPI came in at 3.8% — a three-year high that obliterated rate-cut hopes. Gold fell $155 in 48 hours, then found its floor above $4,500. Kevin Warsh was confirmed as Fed Chair on the same day. Here is what the week means.