That dynamic is now playing out again. The looming shutdown is shaking investor confidence in Washington’s ability to manage fiscal policy. Memories of past shutdowns—such as the record 34-day closure in 2018—have reinforced fears of disruption to federal services, unpaid government workers, and broader economic drag. This time, warnings of permanent layoffs and deeper cuts have only heightened anxiety.At the same time, the political standoff is unfolding against a backdrop of other destabilizing forces: Tr ...

China is reportedly making a bid to expand its influence in global gold markets by offering to hold foreign central bank reserves within its borders. According to Bloomberg, the People’s Bank of China has used the Shanghai Gold Exchange in recent months to pitch central banks in friendly countries on the idea. At least one Southeast Asian country has shown interest, people familiar with the matter told Bloomberg. The push would allow Beijing to strengthen its role as a bullion hub and reduce reliance on W ...

See also @LukeGromen’s commentary.Luke Gromen (@LukeGromen):Gold will be a bigger % of global FX rsvs than USTs in a few mthsCentral bank gold ($4.3T) will likely soon be > total USD assets in FX rsvs ($6.7T)Consensus only now shifting from "denial" to "anger" stage of grief on this...bargaining, depression, acceptance still to come https://t.co/i630iNUyLr ...