Markets remained uncertain this week after remarks by the president of the Dallas Federal Reserve, Robert Kaplan, mentioned that a debate with regards to a reduction in bond purchases will need to be necessary. Surging Covid-19 cases in Japan and India added to investors’ concerns this week.

Subsequently, Gold gained 1.28% from Monday as the dollar’s value decreased and the U.S government bond yields fell by 4% from its 5 day high of 1.680. Gold reached $1,797.00 to complete the first 40-day low in a new upcycle, and the trend is set to accelerate once gold breaks $1800.The uncertainty in markets increased golds position as the safe haven alternative.

In other news, Berkshire Hathaway’s Annual Shareholders meeting was held this week where Warren Buffett and business partner Charlie Munger addressed the notably high government spending and that the scenario was extremely unstable. Warren Buffet also said that, “We are seeing very substantial inflation among Berkshire Hathaway’s collection of businesses.”

“Once a nation crosses the Rubicon of 100% debt to GDP, and once a nation’s currency has lost greater than 98% of its inherent value due to fiat money expansion (as is the case today), economic growth has never, not once in the entire history of the financial world, ever occurred” – Matthew Piepenberg

The yellow metal was last seen trading at $1,783/oz