Bloomberg Surveillance · Monday, August 31, 2026
Bob Elliott suggests that gold's recent reacceleration indicates a questioning of not just the Fed but also other policymaking institutions. He noted that despite efforts to keep rates low, money is flowing into gold and crypto, indicating a broader distrust in fiat currency and traditional assets.
“And I think gold, in general, is giving us an indication. It's reacceleration over the course of the last couple of weeks. It's giving some indication that people are really questioning not just the Fed, but the policymaking institutions across the administration, whether it be at the Treasury or at the Fed or in the administration.”
“And it's saying, you know, despite all these efforts to try and keep rates low, gold is pushing higher. Of course, Friday it sold off a little bit. But the general trend here is for all the effort that the administration is doing to try and keep rates low, they're basically just flowing money into crypto and gold these days.”