AGE's Gold Commentary

AGE Gold Commentary is our regular report analyzing trends in precious metals and rare coins. We monitor domestic and international markets and extrapolate from our 30 years in metals to place current events into a hard asset perspective. View archives.

12/10/2024: Will EU crises drive gold to new highs?

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Greetings!

The re-election of President Trump pushed the dollar to short-term highs, which in turn pressured gold to short-term lows. This tailwind for the dollar—and headwind for gold—has now faded. But while gold is settling into a consolidation phase, securing gains close to its all-time high, the global economic and geopolitical situation has become more unsettled.

The coalition governments of both Germany and France have failed because of disagreements over the austerity measures needed to cope with massive national debt. These developments could lead to a European economic crisis far more substantial than the Greek debt crisis of a decade ago. In addition, in the past few days, the stunning fall of the Assad regime in Syria has further destabilized the already volatile Middle East.

In this edition of AGE Gold Commentary, we'll drill down on how the political crises in Germany and France could drive the eurozone into a full-blown recession. We’ll analyze recent US economic data, and we’ll review the latest charts for gold, silver, the dollar, and Treasury yields to help you understand how all these events could affect precious metals prices going forward.

So please join me for this informative look at today’s precious metals market.

You can also view this video on the AGE YouTube channel, which includes a transcript.

Sincerely,

Dana Samuelson
President