Summary
- Gold Market Sell-offs: The recent decline in gold prices is due to a stronger US dollar and reduced investments in gold ETFs.
- Hedge Fund Reactions: Post-election results led to hedge funds withdrawing from gold positions, causing further price drops.
- India's Gold Demand: Despite the decline, India's demand for gold remains strong, especially after Trump's victory.
- European Central Banks: Hungary and Poland are increasing their gold reserves, signaling continued confidence in bullion.
- US Financial Concerns: The US national debt hit $36 trillion, with unfunded liabilities estimated between $175-220 trillion.
- Government Efficiency: The Trump administration plans a department to cut government spending, led by Elon Musk and Vivek Ramaswamy.
- Gold & Silver Projections: Analysts predict gold to reach $3,000/oz and silver to hit $40/oz within the next 6-12 months.
- Silver Market Dynamics: Global silver supply is in deficit for the fifth consecutive year due to high industrial demand.
- Surge in Silver Demand: During India's Diwali season, silver purchases surpassed gold for the first time due to price increases.
