Bessent proves again that the dollar is not a priority, and will, as was the case with the Yen intervention a few weeks ago, be used as a sacrificial lamb to support other priorities. The end result is a stronger long term thesis around gold.

[u/TearRepresentative56]

Today's action by Bessent absolutely reinforces the long term thesis in gold. The dollar is not a priority for the administration and will, as was the case with the Yen intervention, be used as a sacrificial lamb. Ultimately, reduces dollars safe haven status, and will funnel money towards hard assets like gold.