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> GDPNow is an excellent tracking model, however, the January surge in imports - especially for gold - caused the model to move negative. As the Atlanta Fed not
by itishappy 2y ago
> GDPNow is an excellent tracking model, however, the January surge in imports - especially for gold - caused the model to move negative. As the Atlanta Fed noted: "the contribution of net exports to first-quarter real GDP growth fell from -0.41 percentage points to -3.70 percentage points".
Anyone know what's up with the surge of gold imports? We don't have gold tariffs, right? Are people hedging against the dollar's instability?
- asciimike 2y agoDrive by comment, I saw: https://unusualwhales.com/news/the-race-to-move-gold-bars-out-of-london-is-so-frantic-theyre-even-in-the-cargo-of-your-flight-to-jfk https://unusualwhales.com/news/the-race-to-move-gold-bars-ou... > The sudden shift is fueled by fears of tariffs as Donald Trump threatens a trade war that could disrupt the gold market. Traders, worried that gold imports may soon face tariffs, are rushing to get their bullion into the U.S. before the policy takes effect.
- deleted 2y ago[deleted]