48
submitted 2 days ago by cm0002@no.lastname.nz to c/world@quokk.au

Gold has jumped above $5,000 an ounce for the first time, as Donald Trump’s chaotic policies and proclamations drive more investors to seek safe harbour in the precious metal.

The price of the yellow metal reached a record high of $5,100 on Monday morning, before easing back to settle up 2.2% at $5,089.

The historic moment came as Trump threatened Canada with 100% tariffs if America’s northern neighbour “makes a deal with China”, and after the US president’s dramatic showdown with Europe over the future of Greenland.

you are viewing a single comment's thread
view the rest of the comments
[-] SanctimoniousApe@lemmings.world 10 points 2 days ago* (last edited 2 days ago)

And so the major recession that's long been predicted finally begins (right on time, IMHO - they almost always start in the latter half of January when they've been pushed off as much as possible like this & the investors get the year-end numbers they wanted).

As conditions deteriorate and people become more desperate, Trump (more accurately, his Heritage Foundation handlers) will use the disarray to impose martial law, and the US will decend further towards civil war.

I hope I'm wrong.

[-] MrMakabar@slrpnk.net 2 points 2 days ago

It might actually technically not happen. The biggest increase in US exports has been gold. If say Germany moves the gold reserves it has in the US to Germany, that is the US exporting gold and it would end up with 0.5% increase in US GDP. Welcome to Trump making some intressting decisions.

[-] AutumnReaper@lemmy.world 3 points 2 days ago

You mean the german gold that the US refused to allow the Germans to see when they wanted to confirm its presence? Something will happen if Germany does request to move their gold, just depends on how bad of a shit show it will turn out.

[-] FaeriesWearBoots@sopuli.xyz 2 points 2 days ago

There's zero chance that Trump lets that go without a fight or a bribe.

this post was submitted on 26 Jan 2026
48 points (100.0% liked)

World News

1237 readers
593 users here now

Rules:
Be a decent person.
No racism, sexism, ableism, homophobia, transphobia, zionism/nazism, and so on.

Other Great Communities:

Rules

Be excellent to each other

founded 1 year ago
MODERATORS