In a landmark week for the precious metals market, gold futures have reached unprecedented heights, surpassing the $2600 per troy ounce mark for the first time in history.
As of 5 PM EDT, the most actively traded December contract settled at $2606.20, reflecting a net gain of $19, or 0.73%, for the day. This surge marks the second consecutive day of record-breaking highs, with an intraday peak hitting an astonishing $2614.60.
This remarkable rise in gold prices follows a robust $47 gain yesterday, the largest single-day increase since August 16. The dramatic ascent of gold futures will be remembered as a pivotal moment in financial history, as the market crossed the $2600 threshold.
“The phones have been ringing off the hook,” said Jonathan Rose, CEO of faith-driven gold IRA company Genesis Gold Group. “Americans are seeing the writing on the wall and realizing the best way they can protect their retirement is by backing it with physical precious metals.”
As market participants digest this historic event, their focus is now shifting to next week’s Federal Open Market Committee (FOMC) meeting. This gathering is anticipated to be one of the most significant of the year, with widespread expectations for the first interest rate cut since 2020. Analysts, economists, and market observers largely agree that a rate reduction is virtually assured.
The groundwork for this critical decision was laid on August 20, when Federal Reserve Chairman Jerome Powell indicated the central bank’s readiness to cut rates during a speech in Jackson Hole, Wyoming. This sentiment has been echoed by other Fed officials, reinforcing the belief that monetary easing is on the horizon.
Chicago Fed President Austan Goolsbee recently stated, “long-term trends in both the labor market and inflation data justify a swift transition to a more accommodative monetary policy.” He also warned against “prolonged tightening,” highlighting the potential risks to employment levels.
While the likelihood of a rate cut is high, the extent of the reduction remains a topic of debate. Economists at Fitch predict a cautious approach, forecasting two 25 basis point cuts—one next week and another in December. Conversely, some analysts, including Krishna Guha of Evercore ISI, advocate for a more aggressive 50 basis point reduction to ensure economic stability.
Former Fed Vice-Chair Donald Kohn emphasized the central bank’s adaptability, stating, “the central bank’s flexibility, noting its ability to swiftly adjust policy if inflation resurges, reminiscent of its aggressive stance in 2022.” Current Fed Governor Christopher Waller and New York Fed President John Williams have both expressed an “openness to various cut scenarios, depending on incoming economic data.”
The CME’s FedWatch tool indicates a growing market expectation for a more substantial rate cut. Notably, “the probability of a 50-basis point reduction next week has surged from 28% to 45% in just one day, with a 55% likelihood of a 25-basis point cut.”
As the financial community awaits the FOMC’s decision, the recent performance of the gold market serves as a barometer of economic uncertainty and anticipation. Market participants will be closely monitoring these historic developments, which have the potential to reshape the financial landscape in the weeks and months ahead.
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
