IS GOLD AT $3,400 SIGNALING SOMETHING BIG?
The surge to $3,400 in gold isn’t mysterious—it’s a clear reflection of interest rate cut expectations fueling nearly all risk assets.
U.S. equities are pushing all-time highs, and markets are in a “honeymoon phase” ahead of any actual policy shifts. However, an earlier-than-expected rate cut could disrupt this calm.
For now, there’s zero chance of a July rate cut, and recent comments from Powell and Bowman during the Fed’s blackout period offered no new direction.
Bottom line: There’s currently no credible negative catalyst for crypto markets.
