GOLD MAKING NEW ALL-TIME HIGHS - TRADE WAR STARTED

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Gold hit a record high last Friday over the $2800 level, reaching a high of $2,811 on tariff fears and concerns over Trump’s Federal funding cuts and firings. Then on Saturday, after Trump announced a 25% tariff on Canada and Mexico, with a 10% tariff on China, the U.S. Dollar moved sharply higher immediately, putting pressure on the Gold price.

These US tariffs will make Energy, Agricultural products and alcohol (from Beer to Tequila) much more expensive. Both Canada and Mexico immediately responded with retaliatory tariffs. This is a full-scale Trade War and it’s going to be very inflationary and very costly for Americans.

Trump’s DOJ also demanded a list of thousands of FBI agents who worked on the Trump investigations of January 6th for possible firing. Senior FBI leadership was ordered to retire, resign, or be fired by Monday. Plus, many Environmental Protection Agency (EPA) workers received emails warning their employment could be terminated and were offered early retirement options.

Buckle up this will be a very volatile February for investors.

Gold started this year at $2,629 per ounce and January ended at $2,811 per ounce, an increase of $182 (6.9%) and the best month for the Gold price since March 2024. This increase was fueled by concerns about the new U.S. tariffs and chaos caused by Trump cutting funding for hundreds of Federal programs and firing thousands of Federal employees.

Last year in January, with Gold trading at $2,000, I predicted Gold would hit $2,400 by year-end, which was a 20% increase. I definitely under-estimated the strength and demand for Gold. Now with Gold trading at $2,811, I’m looking for another 20% increase, which means Gold will hit $3,373 before the end of 2025. I believe I’m being very conservative in my 2025 projection. After the Tariff announcement I contacted a number of my long-time friends who are professional precious metal traders/analysts and are located in England, Switzerland, and Hong Kong. All of them have added sizably to their holdings today after the tariffs were announced.

I believe we are going into a highly explosive period for Gold/Silver prices and Citi-Bank, JP Morgan, UBS, and Goldman Sachs have all stated today, that these tariffs will be very bullish for the Gold price.

One of the side effects of the recent run in Gold and Silver prices is lower premiums on many of the popular Gold and Silver bullion and semi-bullion coin and bar prices. Those premiums have moved lower recently due to year-end profit-taking, and new buyers should take advantage of the current pricing. Please visit www.MintStateGold.com for current prices. Many of the rare Gold and Silver numismatic coins should be positively affected because of their scarcity in an inflationary environment.

Today: Gold trading moved lower at the beginning of this morning’s Asian trading. Gold reached a low of $2,766 because of the higher U.S. Dollar and a firm belief that the inflation caused by the tariffs will not allow the Fed to cut interest rates this year.

As trading moved to London, traders focused on the longer-term effects of the tariffs and the worldwide inflation it will cause. Gold quickly moved off the lows and made a new all-time high of $2,817 before seeing some light short-term profit-taking.

Last week Silver reacted to the same news shown above. Silver closed on Friday at $31.35 per ounce, up $0.75 per ounce. Staying above the key $31 per ounce support level is important for the short-term direction of Silver. As the price of Silver moves higher, the premiums on many of the popular Silver investment coins and bars have moved lower and are more attractive for investment.

Today: Silver followed Gold lower on tariff concerns, reaching a low of $30.60 before seeing bargain buying, taking it back over $31 per ounce. Silver is considered to be one of the best inflation hedges and could outperform Gold in the near future.

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