Gold fell pretty hard, but it wasn't for anybody. After walsh was nominated as the fed's president, the international gold price fell by almost 8 per cent a day, and the silver and silver were worse, almost 30 per cent. These figures are available online in reuters, bloomberg and the previous administration, and not by anyone。
It happened quickly, but the logic is clear that the price of gold depends primarily on the real interest rate of the dollar, and once the return on the united states debt rises, the gold is less important. On 30 january, the 10-year tips implicit rate of return jumped five basis points, and gold naturally went down. It's not that people stare at the middle of the night, it's not that asian discs are “cut off” and comex's night palettes fall first, and new york's tailboard hits again, and the rhythm is clear。
Walsh, who worked for the federal reserve earlier, argued for an abbreviation, but it was not the extreme rightist that shouted “50 points at immediate interest”. In his paper of 2025, he also specifically cautioned against being too quick to qualify for mobility. The market treated him as a “hawk representative” and, in fact, simplified the complex position as an emotional exit。
Domestic gold futures fell that night because of too many technical adjustments, combined with temporary increases in bonds, but this was the result, not the cause. Last period, the main au contract was less than 30 cents less than london gold, indicating that the price was still with the international community, and that no one was hitting anyone alone。
The exchange rate of the renminbi remained almost unchanged that day, with the median rate adjusted by only 17 points. The ppi data were also better than expected in january, when the manufacturing sector, although pmi 49. 3 per cent, averaged 49. 1 per cent in january of the previous year. China is now the largest global producer and the second largest consumer, and the market is much richer than it was before。
The drop in gold prices in 2013 was due to cyprus's offer to sell gold, which was feared to collapse in real terms. This is a re-evaluation of the policy path, not a crisis of confidence. And now there are melting bonds, dynamic bonds, inter-temporal surveillance, and the system is much more stable than it was 10 years ago。
It has been said that this is a “dollar-penetrating china” and that the fed's nomination has not yet been approved, let alone the policy has fallen. Cips cross-border settlements have increased by 37 per cent over the past year, and the gold, the most globally priced and transparent species, will not be chosen to speak out。
The price of gold increased by more than 40 percent in 2025, and this is more like an increase in breath. The highly leveraged accounts have been cleaned, but central banks and large institutions have not retreated and gold reserves remain intact in the latest imf data。
It's not that big a deal, it's a change of expectations, the price's moving, everything else。
