Episode
Unearthed: U.S. Politics, Economics, and Gold Markets: A Look Ahead, ft Robert Armstrong
- Podcast
- Unearthed
- Published
- Feb 21, 2025
- Duration seconds
- 1938
- Processing state
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Summary
In this episode of Unearthed, co-hosts Joe Cavatoni and John Reade, Senior Market Strategists for the World Gold Council, are joined by Robert Armstrong, US financial markets editor at the Financial Times and author of the Unhedged newsletter. Filmed on 15th January 2025, together they explore how shifts in US fiscal policy, geopolitical uncertainty, and changes in bond yields are influencing financial markets and the gold industry. Armstrong shares his perspective on key economic themes, including the resilience of the US economy, contrasting global economic challenges, and the dynamics of gold demand from central banks and investors. The trio looks into potential policy changes under the new Republican administration, examining tariffs, tax reforms, and immigration policy—as well as their implications for inflation and broader economic stability. As we publish this episode, just over a month later, it’s remarkable to see how the gold market and gold price have shifted and how the global picture has already changed. [1:08] Armstrong shares his thoughts on the recent steepening of the yield curve and its implications for markets [5:08] A comparison of the US's robust economy versus struggles in other global markets [7:53] How potential US tariffs and immigration policy could impact inflation [12:14] Discussion around potential US tax reform in 2025 [15:42] The role of central banks and emerging market investors in supporting gold demand [24:15] Armstrong's prediction for the financial markets in 2025 [29:12] Armstrong shares his fun fact and the emotional connection many have with gold Additional Resources www.gold.org Robert Armstrong LinkedIn Unhedged Newsletter Notable Quotes "If the world was so uncertain, why isn’t gold going up more? But you take the other side o…