⛏ Gold Surpasses Inflation-Adjusted Record High Set in 1980

Gold Surpasses Inflation-Adjusted Record High Set in 1980
Gold has eclipsed its inflation-adjusted peak set more than 45 years ago, as growing anxiety about the US’s economic trajectory takes bullion’s blistering three-year bull run deeper into uncharted territory. The spot price of gold has surged about 5% so far this month, with prices hitting an all-time high of $3,674.27 an ounce on Tuesday. It’s set more than 30 nominal records already in 2025, but the latest leg of the rally has also taken it through an inflation-adjusted peak set on Jan. 21, 1980, when prices topped out at $850. Read on »

Consumer Debt Unexpectedly Surged in July
Retail sales showed a healthy increase of 0.5 percent in July. At the time, analysts claimed this was a sign of a resilient consumer. Turns out, they charged that shopping spree to their credit cards. After contracting for two straight months, revolving credit, primarily reflecting credit card balances, unexpectedly surged in July, rising by 9.7 percent on an annual basis. Read on »

Barrick Hands Hemlo Gold Mine To New Owner In $1.09 Billion Deal
Barrick Mining announced Wednesday that it has struck a deal to divest its Hemlo Gold Mine in Ontario, Canada, in a transaction worth as much as $1.09 billion. The mine will be acquired by Carcetti Capital Corp., which plans to rename itself Hemlo Mining Corp. once the sale closes. The transaction includes upfront cash of $875 million, equity in the acquiring firm valued at $50 million, and additional gold price-linked contingent payments of up to $165 million beginning in 2027. Read on »

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