A scenario that is without a doubt considered ultra-bullish for gold.
As traders anticipate the Fed’s next move, US consumer price inflation data will be one of the biggest macro releases traders will pay attention to. Policymakers will also get new data on retail sales — a crucial driver of the U.S. economy — on the first day of this month’s two-day Monetary Policy Meeting.
Regardless of whether the data meets, exceeds or falls short of expectations – the result is guaranteed to be a license to print money that traders won’t want to miss!
Trump’s ‘America First’ policy and Chinese gold purchases are causing the gold price to rise
Looking beyond the long term, President-elect Donald Trump’s return to the White House in January 2025 continues with his fiery and chaotic “America First” policies, including higher tariffs, higher government spending, massive tax cuts and aggressive global trade wars , the most bullish catalysts for gold prices ahead.
Last week, Donald Trump threatened the BRICS+ countries with 100% tariffs if they abandoned the US dollar and started trading with their own reserve currency.
“The idea of the BRICS trying to move away from the dollar while we watch is OVER,” Trump wrote on social media.