Jerome Powell delivered a clear message to markets this week: I’m not coming to the rescue.

The chair of the Federal Reserve used an appearance at the Economic Club of Chicago to say in no uncertain terms that investors shouldn’t expect changes in interest rates anytime soon or any near-term intervention in the bond market following turmoil triggered by President Trump’s tariffs.

The key moment came on Wednesday when professor Raghuram Rajan of the University of Chicago Booth School of Business asked Powell if there was a “Fed put” in the stock market.

And Powell couldn’t have been more explicit: “I’m going to say no.”

Markets are “struggling with a lot of uncertainty and that means volatility.” But his view is that markets are “are functioning kind of as you would expect them to in a period of high uncertainty.”

That seemed to pour cold water on speculation that the Fed might step in to restore some calm in the bond market if needed.

The speculation ramped up last week as yields on long-term debt soared, prompting predictions the central bank would need to provide some liquidity as investors unwound positions.

Powell said those markets remain “orderly” and chalked up the recent turmoil to “markets processing a historically unique development.” What also helped is that the bond market did settle back down this week, easing the pressure for immediate intervention.

This week Powell also disappointed investors — and a US president — hoping to hear signs he was ready to lower rates as a way of preventing a downturn or cushioning the inflationary effects of new tariffs.

The central bank will “wait for greater clarity” before considering any interest rate adjustments, he said, as he expects Trump’s tariffs to generate higher inflation and slower growth.

Powell predicted a tough decision ahead for the Fed as it weighs both sides of its mandate for stable prices and full employment, saying there is a “strong likelihood” that the economy will be moving away from both of the Fed’s goals for the “balance of the year, or at least not making much progress.”

If anything, Powell went out of his way to hint he may give preference to controlling inflation, noting that without price stability, the Fed cannot achieve a strong job market for a long period. And he made it clear he wasn’t yet sure whether the inflationary effects from tariffs would be temporary or long-lasting.

“Tariffs are highly likely to generate at least a temporary rise in inflation,” he said, but “the inflationary effects could also be more persistent.”

Powell also underscored the Fed’s obligation is to keep long-term inflation expectations well anchored and to prevent a one-time price increase associated with higher tariffs from becoming an ongoing inflation problem.

All of this seemingly hit a nerve with the president, who spent much of Thursday lashing out at Powell on social media and during a press event in the Oval Office.

“Powell’s termination cannot come fast enough!” the president wrote on Truth Social. Trump said Powell “is always TOO LATE AND WRONG” and should be cutting interest rates alongside other central banks.

At the White House later on Thursday, Trump reiterated he was “not happy” with Powell and that Powell would leave his position “if I ask him to.”

The Wall Street Journal reported Thursday that Trump has for months privately discussed firing Powell, but he hasn’t made a final decision about whether to try to oust him before his term ends in May 2026.

Powell has shown no signs of blinking. On Wednesday, he again reiterated the independence of his institution and his own job, saying it’s “a matter of law,” and pledged not to act in response to any political pressure.

Read the full article HERE.

US trade policy may create an epic buying opportunity, but much later if there is a downturn.

Recession

When you think a recession is coming, it generally pays to sell first and ask questions later. Waiting for confirmation that the economy is declining is just too costly. For a spectacular demonstration, look to the events of 2008, when the National Bureau of Economic Research announced that a recession had started in January of that year — but didn’t announce this until December:

From the start of the recession to the NBER’s acknowledgement, the S&P 500 almost halved. It was better to take a judgment first. That’s why there’s particular interest in the latest survey of global fund managers by Bank of America Corp., the first since the “Liberation Day” tariffs announcement, which showed a dramatic increase in fears of an economic hard landing:

If big fund managers take fright, then their actions can guarantee a market selloff as they move their money to safety. And they’re not the only ones growing much more nervous. Odds of a recession this year have ballooned on the Polymarket betting site, and now stand at more than 50%:

Traditional indicators of market negativity show a similar trend. The total assets of State Street Global Advisors’ GLD exchange-traded fund, the biggest fund for retail investors to buy gold, topped $100 billion for the first time Wednesday, as a rising price and growing interest from small investors combined:

(Parenthetically, the gold rally provides vital context for the stock market. The ratio of the S&P 500 to the gold price, which effectively prices the index in gold rather than dollars, has tanked this year and is almost back to its pandemic-era low. If you choose to view the post-Covid rally as one big side effect of cheap money, this would tend to support you.)

Combining gold with copper provides another alarming recession signal. The former rises when people are worried, while a gain in the latter shows that economic activity is expanding. So when copper drops to its lowest in gold terms in at least 38 years, that’s concerning (although it’s worth noting that the previous low in 1987 didn’t prefigure a recession):

There’s another problem with making a confident recession prediction. Formerly reliable market indicators have been foretelling one for so long without success that it’s getting harder to take them seriously. The New York Fed recession probability indicator is based on the bond yield curve. Over time, an inverted curve, in which long bonds yield less than shorter-term instruments, has been a surefire sign of trouble ahead. But it’s never been more confident of an oncoming recession than it was in 2022, and so far it hasn’t come to pass:

Another virtually foolproof signal comes from the Conference Board’s Leading Economic Indicators, which smooshes together various measures of the economy and market. Just like the yield curve, it successfully predicted the last four recessions, but also a fifth that still hasn’t happened:

One problem with getting out of the market when everyone is scared of a recession is that this is often a great contrarian time to buy. The American Association of Individual Investors has for decades asked its members a weekly question: Are you bullish or bearish? The recent peak in the majority of bears over bulls makes this the fourth-biggest incidence of bearishness since 1987. Here it is in context:

All were either good or great times to buy, with the significant exception of the angst over subprime bankruptcies in January 2008, when a few months later investors discovered they hadn’t seen nothing yet. Similarly, BofA has a measure of sentiment based on how much cash fund managers are holding, their hopes for growth, and the amount they’ve allocated to equities. With the exception of the response to the 9/11 terrorist attacks in 2001, all the previous times when sentiment dropped this low proved decent times to buy:

A further problem: The recession fears this time around have been driven entirely by a new policy (US tariffs) that might yet be revoked. The chances are that it will create an epic buying opportunity at some point in the future. But that time to buy will come much later if there is a recession. While the uncertainty over tariffs persists, it will be hard to put together a market rally.

Words, Words, Words

It’s conventional wisdom that deeds matter more than words. That buttresses the continuing optimism over trade policy: For all his protectionist invective, Donald Trump has announced delays or retreats on most of his tariffs.

There are exceptions. The Federal Reserve often uses the power of the jawbone and what it says matters a lot. If people react to a warning, the Fed can even have its desired effect without needing to do anything. Because central bankers have to mind their words, mere choice of subject can be most significant.

For a prime example, Fed Chair Jerome Powell triggered a big afternoon selloff by talking frankly — but without saying anything anyone didn’t know — in a discussion at the Economics Club of Chicago. He admitted that there “isn’t a modern experience for how to think about this:”

Our obligation is to keep longer-term inflation expectations well-anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem. We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension

More or less everyone is alive to the risk that tariffs could both raise inflation and lower growth, and hammer both sides of the Fed’s mandate. The fact that Powell said so, however, along with the explicit assertion that higher prices due to tariffs might push up inflation expectations, was a sign that he wouldn’t resort to rate cuts at the first sign of trouble. He might easily have dropped such a hint — and many traders were furious with him for not doing so.

Equities, led by Big Tech, sold off after he spoke, as did the dollar. Amid much excitement, the main elements of US exceptionalism, are back to testing their post-“Liberation Day” lows — but at least Treasury yields are falling again:

Central bankers’ mere words do indeed matter. But do we need to note what politicians are saying? Normally, their deeds matter far more. There have been exceptions of late, however, particularly when coming from the mouth of US Vice-President J.D. Vance.

In February, he made an epochal speech in Munich, lacing in to European leaders to say that they were more threatening than Vladimir Putin’s Russia. Two weeks later, there was his equally famous berating of Ukrainian President Volodymyr Zelenskiy in the Oval Office. Nobody was hurt in these exchanges, but they had consequences.

After the Vance speech, Points of Return was headlined “There’s No Template for the Shock Europe Just Got” and described it as a major geopolitical event. That prompted some pushback from the US. One reader said that the column had taken on a “tilt” and added:

The intransigency of the European state appears to require strong rhetoric to even dent their narrative. They are words, Europe is overdue to act.

That’s a reasonable response, but not to the message that Vance actually delivered. He didn’t read the riot act over defense spending — which would have been reasonable — but made such a wide-ranging attack on Europe and all it stood for that his listeners decided the US could no longer be trusted as an ally. The subsequent boost to defense spending in Germany isn’t to make sure it keeps its NATO commitments, but to ensure its independence from the US. And as we’ve written at length, that’s had massive financial impacts.

The Munich speech is only the biggest example. People don’t like being insulted and hate criticism from foreigners. Describing the Chinese as peasants gifted propaganda to the US’ prime trade adversary, and helped it to muster support in its population. It’s now a Chinese condition of talks that the US shows respect, which is fair enough. If you want to make a deal with someone, don’t insult them first.

Vance’s response to the British and French proposal to send peacekeeping troops to Ukraine — dismissing the efforts of “some random country that hasn’t fought a war in thirty of forty years” — led to a furious response, particularly from his more natural supporters on the right, who have also noted that US conservatives are criticizing Winston Churchill. UK forces fought alongside the US in Kuwait, Afghanistan and Iraq. This came across as a specious insult, impeding US aims to get Europe’s powers to step forward in their own defense.

The administration has as yet done nothing to back up its interest in seizing Greenland, but Vance’s trip there appeared designed to create the greatest possible insult. Denmark’s people already felt grievously affronted. And while the Trump administration wants to add Canada as a state, the leadership’s deliberately offensive words have triggered an economic backlash.

It’s harder to grasp this from the US, but this language has done lasting self-harm. As my old colleague Katie Martin pointed out in the Financial Times, trust is lost, and the US is now open to ridicule.

It’s not often that mere words do matter. But US discourse has been so aggressive and offensive as to sunder long-lasting alliances, and forestall the possibility of a rapprochement.

Survival Tips

Happy Easter. Points of Return will be taking off for Good Friday, but for some great Easter-themed music, I recommend Puccini’s Stabat Mater, a setting of the words of Mary watching her son on the cross, conducted here with fire in his eyes by the great Carlo Maria Giulini. It’s a tad too operatic for some tastes, but it’s wonderful. Or you could try Jesus Christ Superstar, a true rock opera, in which Judas gets the best lines and stands in for doubting modern agnostics. It’s more than 50 years old and its stature grows with time. Have a great weekend everyone.

Read the full article HERE.

IRA-approved silver refers to specific types of physical silver, such as certain coins and bars, that meet the Internal Revenue Service (IRS) requirements for inclusion in a self-directed Individual Retirement Account (IRA).

For you as an investor, this means silver can serve as either an alternative to, or a complement alongside, traditional retirement assets like stocks and bonds.

In fact, when stocks plunged during the 2008 financial crisis, silver rose in value alongside gold, serving as a safe haven and a much-needed counterbalance to sharp equity declines.

That said, not just any silver qualifies. Only silver that meets the IRS’s strict criteria (more on that later) offers the protection, tax advantages, and legal compliance required for retirement accounts.

Benefits of a Silver IRA

Lower Entry Cost

Compared to gold, silver is significantly less expensive per ounce, and thus, more accessible to investors.

As of early 2025, trends show silver trading at approximately $30 per ounce and gold averaging over $2,700 per ounce — a very noticeable difference. This means you can purchase more silver for the same capital overlay.

Inflation Hedge & Diversification

Silver, like gold, has historically maintained purchasing power during inflationary periods. During the high inflation years of 1973–1980, silver prices rose from under $2 per ounce to an average of roughly $40 per ounce (even reaching a year high $50), illustrating its function as an inflation hedge.

At the same time, this event shows how silver doesn’t always move in sync with stocks, which makes it a strong diversifier (and a form of protection) for your retirement plan. If the stock market takes a hit, holding silver can help cushion the impact.

Tangible Asset

Unlike stocks or bonds, silver bullion is a physical asset with real, documented ownership, not just a digital balance that rises and falls with market swings.

Moreover, according to the World Silver Survey 2024, industrial demand for silver reached 654.4 million ounces in 2023 — an 11% increase from the previous year. This growth was largely driven by strong demand from industries like solar energy (photovoltaics), electronics, and medical technology.

This fact shows that silver isn’t just stored in vaults, but is consistently used in critical industries, adding long-term support for silver’s strength and value especially during periods of financial market stress.

Tax Advantages

Silver IRAs offer the same powerful tax benefits as traditional IRAs. That means your investment can grow without being taxed each year, allowing it to potentially build faster over time.

If you open a Traditional Silver IRA, your contributions may be tax-deductible now, and you won’t pay taxes on your gains until you withdraw them in retirement.

If you choose a Roth Silver IRA, you pay taxes upfront, but then enjoy tax-free growth and withdrawals later, as long as you follow the IRS rules.

How Does a Silver IRA Work?

Silver IRA vs Gold IRA

A Silver IRA investment is, functionally, the same as a Gold IRA. Both fall under the umbrella of self-directed IRAs (SDIRAs), which allow individuals to hold physical precious metals (gold, silver, platinum, or palladium) in tax-advantaged retirement accounts.

That means the term “Gold IRA” is mostly marketing shorthand. Silver is just as eligible an investment as gold, as long as it meets IRS standards.

Funding Your Silver IRA

The two most common methods to fund your Silver IRA are through transfers and rollovers.

Transfers

Transfers apply when an investor already has an existing IRA and wants to move those funds into a new SDIRA — in this case, a Silver IRA.

In this process, assets are moved directly from the current IRA custodian to a new custodian without the investor ever taking possession of the funds. That being said, it’s considered the simplest and safest way to fund a Silver IRA using existing retirement assets.

Rollovers

Rollovers, on the other hand, typically apply when an investor is moving funds from a qualified retirement plan — such as a 401(k), 403(b), or TSP — into a new SDIRA.

In this case, the account holder takes possession of the funds before redepositing them into the SDIRA. This can be quite tricky as it requires careful adherence to strict IRS guidelines like rollover timeframes and other eligibility criteria.

Role of Custodians and Approved Depositories

Custodians

Custodians are institutions approved by the IRS to help you set up and manage your Silver IRA. Their responsibilities include handling paperwork and logistics, complying with IRS rules, and processing transactions on your behalf.

What they are not is someone who gives investment advice or recommends specific products.

That kind of guidance — like helping you choose the right silver assets — is typically handled by a company that specializes in precious metals IRAs, like us here at Thor Metals Group. It’s just one part of the broader support we provide.

The IRS maintains a list of qualified custodians, all of whom are authorized to manage self-directed IRAs.

Approved Depositories

Approved depositories, on the other hand, are specialized storage facilities that are vetted and authorized to securely hold physical precious metals on behalf of IRA account holders.

Once the custodian completes the silver purchase, the metals are delivered to and stored in one of these depositories.

The IRS does not publish a public list of qualified depositories. It leaves the approval and oversight of depositories to the custodians. Some widely used, industry-trusted depositories include:

Criteria for Silver to Be IRA Approved

As discussed, only certain silver coins and bars meet the IRS’s strict criteria. Why is that so?

Think of it this way. If all types of silver were accepted into retirement accounts — regardless of purity, origin, or how they are stored — it would be easier for bad actors to slip in counterfeit or overvalued assets.

Below outlines specific IRS requirements under IRC Section 408 (m) to help protect your retirement savings and ensure your account stays compliant and tax-advantaged:

IRA Approved Silver Coins and Bars

Some of the most common IRA eligible silver products — which are also available through Thor Metals Group — include:

Choosing the Right Silver for Your IRA

Coins vs. Bars

When deciding between coins and bars, think about what matters most to you. If you want liquidity and recognizability, especially when you might want to sell in the short term, silver coins are widely trusted and are generally easier to resell.

On the other hand, if your focus is on getting the most silver for your dollar and building up value over time, silver bars are a better investment as they come with lower premiums.

Differences in Ounces

Most silver held in IRAs comes in 1 oz coins or larger bars, which are considered the standard for retirement investing.

Smaller sizes like ½ oz, ¼ oz, or even 1/10 oz are available, but they’re less common in IRA portfolios due to higher premiums per ounce.

These fractional sizes are typically more appealing to collectors or to those interested in silver for smaller transactions or as a barter-ready asset in periods of economic uncertainty.

How to Invest IRA in Silver

Broadly speaking, opening a Silver IRA (or Gold IRA) involves three main steps:

  1. Open a self-directed IRA with an approved custodian.
  2. Fund your SDIRA through a transfer, rollover, or direct cash contribution.
  3. Work with your custodian to choose your preferred silver products and coordinate the IRS-compliant storage process. They’ll also be responsible for maintaining compliance documentation and annual reporting.

Or, you can streamline all three steps into a single, guided process by working with a reputable Gold IRA company.

As we’ve outlined earlier, setting up a Silver IRA involves several moving parts, from navigating IRS regulations to selecting compliant silver products and arranging secure storage. These details can be time-consuming and complex.

With a trusted Gold IRA company, the key advantage is having a single point of coordination. At Thor Metals Group, for instance, we handle the communication with custodians, assist with product selection, and oversee the compliance process — so investors don’t have to manage it on their own.

Pros and Cons of a Silver IRA

Pros of Silver IRA

To sum up the earlier points, below are the key advantages that come with investing in a Silver IRA.

Cons of Silver IRA

Of course, like any other investment, silver also has its cons and tradeoffs.

Storage Rules

Silver in an IRA must be stored in an IRS-approved depository, which means you won’t be able to touch the silver, and more importantly, you will have to pay annual storage fees, the rate depending on your custodian and storage type.

However, while you can’t hold it physically, you still get documented, verifiable ownership of real, tangible silver held in your name — something no paper asset can offer.

Price Volatility

Silver can swing more sharply in price than gold or stocks in the short term. For example, in March 2020, silver dropped below $12 per ounce, then surged to $29 by August. That’s more than a 100% swing in under six months.

However, when you zoom out and look at the long term, silver has shown stability similar to gold. So while there may be short-term dips, silver has historically held its purchasing power over time.

Limited Long-Term Growth Potential

Silver’s value increases only when its price rises. This makes it less of a high-growth asset compared to more energetic investments like stocks or real estate, which can generate both capital gains and recurring income.

Silver’s strength, as mentioned, lies in value preservation rather than aggressive portfolio growth, which eventually protects your retirement savings from inflation and market downturns.

Final Thoughts: Silver is a profitable IRA investment

Silver is often overshadowed by gold in retirement discussions, but it remains a financially sound option for portfolio diversification. It’s more affordable than gold, yet has consistently shown the ability to preserve value, particularly during market downturns.

If you’d like to explore how silver could support your long-term retirement goals — or if you’re looking for a professionally guided process to open a Silver IRA — feel free to contact Thor Metals Group and speak with a member of our team.

Gold prices extended their record run on Wednesday, to breach $3,300 per ounce, as a weaker dollar and escalating U.S.-China trade tensions pushed investors towards the safe-haven asset.

Spot gold climbed 2.6% to $3,310.82 an ounce as of 08:51 a.m. ET (1251 GMT), after hitting a record high of $3,317.90 earlier in the session.

U.S. gold futures gained 2.7% to $3,326.40.

“Gold remains heavily supported by a broadly weaker dollar, uncertainty around tariff announcements and fears about a global recession,” said Lukman Otunuga, senior research analyst at FXTM.

“Beyond $3,300, it’s all about psychological levels for gold prices. Bulls may target $3,400, $3,500, and upwards. However, a bout of profit-taking or positive U.S.-China trade developments could trigger a selloff.”

U.S. President Donald Trump on Tuesday ordered an investigation into possible tariffs on all U.S. critical minerals imports, marking another escalation in his dispute with global trade partners and an attempt to pressure industry leader China.

The latest flare-up of tensions between the world’s two largest economies dented sentiment in wider financial markets, sending investors towards safe-haven assets such as gold. [.N]

The dollar, meanwhile, slipped against its rivals to hold near a three-year low hit last week, making gold more attractive for other currency holders. [USD/]

Gold has risen nearly $700 this year, supported by tariff disputes, expectations of interest rate cuts and strong central bank buying.

“The rally has become a bit unhinged, leaving it at risk of corrections. However we have for more than a year now seen corrections to be shallow, with underlying bids waiting on any setbacks,” said Ole Hansen, head of commodity strategy at Saxo Bank

Investors await a speech from Federal Reserve Chair Jerome Powell later in the day for more clues on the direction of interest rates.

Elsewhere, spot silver rose 2.2% to $33.01 an ounce, platinum gained 0.5% to $963.76, and palladium eased 0.4% to $968.04.

Read the full article HERE.

Gold prices gained on Tuesday, helped by safe-haven demand as U.S. President Donald Trump’s tariff plans kept investors wary of trade policy, while an overall weaker dollar also lent support.

Spot gold was up 0.4% at $3,223.41 an ounce as of 09:32 a.m. ET (1332 GMT). Bullion hit a record high of $3,245.42 on Monday.

U.S. gold futures rose 0.4% to $3,238.70.

“Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There’s still safe haven demand,” said Jim Wyckoff, senior analyst at Kitco Metals.

Federal Register filings on Monday showed that the U.S. administration is advancing investigations into pharmaceutical and semiconductor imports in a bid to impose tariffs.

Trump on Sunday said he would announce the tariff rate on imported semiconductors over the next week.

Gold, used as a safe investment during times of political and financial uncertainty, has risen over 23% so far in 2025 and scaled multiple record highs.

“The rise in the gold price is also partly in line with the continuing weakness of the dollar, which points to a gradual erosion of the U.S. currency’s status as a safe asset — gold is likely to be an alternative for many USD investors,” Commerzbank said in a note.

“The short term monetary policy outlook is providing further support for gold.”

The dollar was trading near a three-year low against its rivals, making gold more attractive for other currency holders. [USD/]

Financial markets expect the U.S. central bank to resume cutting interest rates in June after pausing in January, and reduce its policy rate by 100 basis points this year.

Investors now await comments from U.S. Federal Reserve Chair Jerome Powell, who is scheduled to speak on Wednesday, for more clues on the interest rate path.

Elsewhere, spot silver eased 0.4% to $32.23 an ounce and platinum rose 1.4% to $964.80, while palladium gained 1.3% to $968.46.

Read the full article HERE.

Planning for retirement today means facing an economy that’s anything but predictable. One moment the market is stable, the next it’s reacting to interest rate hikes, inflation, or global events.

Because of this uncertainty, more Americans are exploring alternatives beyond traditional retirement investments. A Gold IRA (Individual Retirement Account) is one such option, offering a way to hold physical gold and other precious metals in a tax-advantaged retirement account.

In response to this growing interest, this article will help guide you through how a Gold IRA works, and how you can use Thor Metals Group’s Gold IRA Kit as a resource to better understand your options.

What is a Gold IRA Kit?

A Gold IRA Kit is a free informational packet offered by gold IRA companies to help potential investors understand precious metal IRAs — not only gold, but also silver, platinum, and palladium.

The point of this comprehensive kit is to help you understand how a Gold IRA works, how it can help protect your retirement savings, and how you can get started with it — basically all foundational information you need before making any commitments.

After all, you don’t want to jump in based on a quick ad or a casual recommendation from a friend.

That’s why we created our free Gold IRA Kit in the first place — to give you time and clarity to learn the basics, weigh your options, and decide whether a precious metals IRA aligns with your long-term goals. 

 Included in a typical gold IRA kit are as follows:

Benefits of a Gold IRA

Adding gold or other precious metals to your retirement account offers a number of potential advantages. These are among the most common reasons investors look into precious metal IRAs as a component of a retirement strategy.

Inflation Protection

Gold has historically maintained its value, particularly during periods of rising inflation.

That is to say, while the dollar weakens, gold has consistently held its ground, and in many cases, even gained value.

Diversification & Risk Reduction

A traditional IRA is tied to paper assets — stocks, bonds, mutual funds. Since those paper assets are generally correlated with the broader financial markets, a market downturn can negatively impact all of them at once.

Meanwhile, precious metals move independently of those paper assets. By relying less on Wall Street’s fluctuation, you reduce overall portfolio risk and keep your retirement strategy a bit more stable.

Tangible Ownership

Unlike stocks or mutual funds, you physically own gold within a Gold IRA. That means actual gold bars or coins are bought in your name, securely stored in an approved depository, and fully accounted for.

This is verifiable, documented ownership and not just a digital balance or a share in a paper fund, like most of us are used to seeing nowadays.

More importantly, that means your retirement assets are less exposed to the risks tied to third parties, whether that’s a company’s financial performance, fund manager decisions, or broader stock market volatility.

Long-Term Store of Value

As emphasized earlier, gold tends to hold its value over time, and that makes it useful for long-term financial planning.

For someone planning ahead for retirement, that kind of dependability can help balance out more unpredictable assets. It allows you to keep part of your savings in something that isn’t tied to short-term news or market cycles.

Why Our Gold IRA Kit is the Best

Thor Metals Group’s nine-page Gold IRA Kit is designed to be read in just a few minutes — brief enough to fit into a busy schedule, yet thorough and practical in providing the guidance you need to get started today.

That clarity comes from listening, as we built this kit based on real questions from customers we’ve had the pleasure of working with. In fact, it’s a big reason why Thor Metals Group was recognized by Consumers Advocate as one of the top Gold & Silver IRA companies for 2025.

Our materials are shaped by experience, not guesswork. It reflects everything people need to know and consider before starting to invest in Gold.

What is Included in Our Gold IRA Kit?

When you request a kit from Thor Metals Group, you’ll receive:

Here’s what comes along with Thor Metals Group’s personalized customer care: 

How Does a Gold IRA Work?

Transferring or Rolling Over Funds

Most people fund their Gold IRA by moving money from an existing retirement account. This can be done through a transfer (moving funds between the same type of account, like IRA to IRA) or a rollover (moving funds from a 401(k) into an IRA).

You can also fund your Gold IRA with direct cash contributions, though annual limits apply based on IRS rules. This method typically results in a smaller contribution amount, which is why it’s less commonly used for funding a Gold IRA.

In either case, a reputable Gold IRA company or IRS-approved custodian can help you complete this without triggering taxes or penalties.

The Role of a Custodian and Storage

Gold IRAs must be held by an IRS-approved custodian. This financial institution is responsible for managing the account, executing transactions, and ensuring IRS rules are followed. 

Once you purchase gold, it must be stored in an IRS-approved depository. These facilities are secure, insured, and regularly audited. Home storage is not allowed for metals held in an IRA, and doing so risks the account being disqualified (and taxed as a distribution).

Tax Advantages and Compliance

Gold IRAs follow similar tax rules to traditional IRAs and Roth IRAs. Contributions may be tax-deductible (traditional), or withdrawals may be tax-free (Roth), depending on which type you choose. 

The IRS also sets annual contribution limits and requires minimum distributions (RMDs) starting at a certain age for traditional IRAs, as mentioned earlier.

As long as the gold meets purity standards and is properly stored, your account remains compliant and retains its tax-advantaged status.

How Your Gold IRA is Managed

Unlike traditional IRAs that typically hold mutual funds or stocks, a Gold IRA holds physical assets — coins or bars. You choose what to buy from an approved list, and your custodian arranges the purchase and storage. 

Your account value fluctuates based on the market price of those metals. While you won’t earn dividends like you might with stocks, you’re holding an investment that’s historically known for preserving value over time, especially during inflation or market turmoil.

A trusted custodian or IRA provider will manage the paperwork and reporting for you so you stay in good standing with the IRS while maintaining control over your investment choices.

Are Free Gold IRA Kits Legit?

Yes, free Gold IRA kits are legitimate, especially when they come from reputable, well-established providers.

To be clear, the credibility of a Gold IRA kit is tied directly to the company offering it. Trusted providers typically operate within established legal and regulatory boundaries, including:

Moreover, you can recognize well-established, trusted providers by the ratings and reviews they’ve earned from independent third-party organizations. 

Thor Metals Group, for instance, holds an A rating from the Better Business Bureau (BBB) and a 5-star rating on TrustLink. Both are examples of helpful indicators to look out for when you’re weighing your options. 

Does Your Free Gold IRA Kit Come with a Free Gold Bar?

Our free Gold IRA Kit includes a wealth of information, though it doesn’t come with a gold bar. That said, we do offer up to $20,000 in precious metals on qualifying purchases.

If you’d like to find out how it works — or are simply ready to diversify with physical assets — feel free to contact us and speak with a member of our team.

Advisers in Trump’s orbit have long fantasized about a cheaper currency. They’re unlikely to have wanted it at this perilous moment.

Donald Trump’s economic policy is not going according to plan. If you need more proof than the volatility in stocks, look no further than the depreciation of the dollar. While some in Trump’s orbit may have occasionally fantasized about a weaker greenback to boost domestic industry, it was never, ever supposed to happen like this — an abrupt slide at the worst possible time.

Weak-dollar Trumpism is perhaps best associated nowadays with Stephen Miran, Trump’s chair of the Council of Economic Advisers. In a speech to the Hudson Institute last week, Miran said that the dollar’s special status in global finance has “caused persistent currency distortions and contributed, along with other countries’ unfair barriers to trade, to unsustainable trade deficits.” (His diagnosis isn’t wrong, though I think it pays short shrift to the considerable benefits that accrue from the greenback’s reserve-currency status, which I’ll return to later.) Trump himself has flip-flopped about the dollar. During his first term, he grumbled about Chinese and European currency weakness and said that the US should match their tactics. Conversely, he’s also recently threatened to punish countries that move away from dollar-based trade.

But what no one wanted — and certainly not Miran — was a flash devaluation that drove fear into the hearts of market participants and could potentially exacerbate inflation and the fiscal deficit.

Yet here we are. The US Dollar Index plummeted by 0.8% on Friday, bringing its total depreciation to around 8.5% since Trump’s inauguration. The move came after the Trump administration unveiled the highest import duties in a century, triggering a violent (but somewhat predictable) selloff in the S&P 500 Index. What surprised many investors, however, was the drop in traditional “haven” investments such as Treasury notes and the buck, which hinted at a broader loss of faith in US governance — a sense of alarm about not just the administration’s strategic tariff goals but also their amateurish execution.

The Trump administration had seemingly designed the policy based on shaky math, and it only issued a course correction after being pressured to do so by Elon Musk, the world’s richest man, and investor Bill Ackman.

The Trump team seemed to further walk back the original “reciprocal tariff” policy late Friday, amending it to exempt smartphones, computers and other electronics, according to an update published by US Customs and Border Protection. Then Sunday on ABC’s This Week, Commerce Secretary Howard Lutnick appeared to walk back the walk-back, saying that, in fact, the exempted products would still be subject to a separate and forthcoming levy specific to their product category. And in an even more surreal and revisionist twist, President Trump himself posted on Truth Social late Sunday that “there was no Tariff ‘exception’ announced on Friday.” Huh? The upshot is that whiplash and uncertainty are as pervasive as ever. The weak-dollar camp in Trump world finally has the buck they’d coveted, but not in the way they’d envisioned.

Let’s dig into the unfortunate timing. In a November 2024 paper “A User’s Guide to Restructuring the Global Trading System,” Miran laid out a catalogue of options to reshape the international trading order that he cast as placing an unfair burden on the US. Tariffs are one of two that he considers, currency depreciation is the other. He assumed that the import duties would probably cause the dollar to strengthen. But he argues that intentional dollar depreciation is riskier, and the Trump government shouldn’t be too hasty about orchestrating such a maneuver. “The Administration will likely wait for more confidence that inflation and deficits are lower, to limit potentially harmful increases in long yields that could accompany a change to dollar policy,” Miran wrote. Given the economic circumstances at the moment, he said that he expected policy to be “dollar-positive before it becomes dollar negative.” So much for that.

The dollar plunge of the past few weeks has come in the context of still-elevated inflation and still-gaping fiscal deficits, which congressional Republicans may exacerbate with new tax cuts, including efforts to extend the expiring provisions of the Tax Cuts and Jobs Act of 2017.

A report Thursday showed that the core consumer price index — excluding volatile food and energy — rose 2.8% in March from a year earlier. The hike in tariff rates will likely push the number substantially higher in 2025, with a weakened currency now adding some further pressure on import prices. Perhaps more concerning still are the hints in consumer survey data from the University of Michigan that households are losing faith in the disinflation process, with inflation expectations at multi-decade highs. Economists see inflation as a self-fulfilling prophecy, and consumer psychology may well be the key to understanding the endemic inflation that everyone wants to avoid.

The fiscal backdrop is similarly ill-suited for dollar depreciation. In general, big currency moves, like the ones seen recently in the dollar, can have material adverse effects on foreign holders of bonds, if sustained.

At about 7% of gross domestic product, the government is still running deficits comparable only to those seen during major crises, and surging net interest expense is one of the biggest factors. Treasury Secretary Scott Bessent has said that he and the president would prioritize lower rates on the 10-year Treasury note, a key benchmark for borrowing costs including for corporate bonds and residential mortgages. But the recent market turmoil has upended any significant signs of progress.

To use an example similar to one Miran laid out in his “User’s Guide” essay, consider that, from the perspective of a foreign investor in our bonds, the roughly 8.5% depreciation of the dollar has already wiped out almost two years of interest payments on 10-year Treasuries note yielding 4.46% as of Friday. No wonder such moves can snowball into something that feels like market panic. Fortunately, the Treasury has still found decent demand at its regular auctions of new securities, but the perception of a risky currency can ultimately lead investors to demand higher interest rates from the US government.

Perhaps this will be remembered as a “be careful what you wish for” moment. There are no doubt challenges associated with the US being at the center of the global financial system. In normal times, the perceived safety and stability of our currency and bonds arguably leave them slightly overvalued, but that also translates into lower borrowing costs, cheaper imported consumer goods and an ability to borrow large sums of money even when wars or pandemics break out — the times we need it the most. As with everything, there are tradeoffs that come from being in that position, and I personally think the benefits justify the costs.

Others may disagree and think that the strong dollar is an albatross around the US manufacturing sector. Even those who accept their premise would admit that their vision couldn’t be playing out at a worse possible time.

Read the full story HERE.

On Wednesday, after the White House abruptly changed course on the tariffs announced a week earlier, an initial sense of relief was soon overshadowed by new questions. What was already an uncertain future for households, companies, banks, and investors suddenly became more in doubt.

High levels of uncertainty ratcheted up early last month when President Donald Trump reversed course on tariffs charged to Canadian and Mexican goods importers. Researchers at Northwestern University and Stanford University maintain an “Economic Policy Uncertainty Index” that measures news sentiment, changes in tax provisions, and disagreement among participants of the Federal Reserve Bank of Philadelphia’s Survey of Professional Forecasters.

In March, that monthly U.S. uncertainty index reached its second highest reading since 1985, only exceeded by May 2020 levels during the heart of the Covid-19 pandemic, and higher than any month in the financial crisis. In April, the daily index is near early-pandemic highs.

Much of corporate investment in the past three decades was premised on free trade, especially with Canada, Mexico, and China, which collectively accounted for 42% of 2024 U.S. imports and 40% of exports, according to the U.S. Census Bureau. Those investment decisions have been complicated by tariffs.

This week’s temporary pause in tariff rates for most countries adds to the burden.

Customs brokers, who expedite customs including calculating the correct tariff payment, are at the tip of the spear. “There’s just no clarity, and this is what’s causing the biggest problem,” Karen Ferry, who runs Karen Ferry Customs Brokers, told Barron’s. “The exporters, the importers, everybody is just nuts.”

“This business is always crazy, but it just 100% made it more crazy because of the uncertainty and the changes every day,” she said.

The uncertainty around today’s tariffs is exacerbated by longer term questions. In four years, a new administration could change the rules again.

Uncertainty hits the economy in several ways. Households, many of whom don’t closely follow rapid shifts in policy, are met with a blizzard of news that is hard to make sense of. Many may decide to hold off on big purchases until the dust settles, while others may buy more ahead of tariffs, pushing demand forward. U.S. consumers made up over two-thirds of 2024 GDP, so spending softness will have a large effect on the economy as a whole.

“Consumers are often more nervous when they’re not sure about what to expect going forward about their jobs, about their 401ks, about their investments, about future costs,” says Scott Baker, a finance Professor at Northwestern University’s Kellogg School of Management and one minder of the Economic Policy Uncertainty Index. “It makes it much harder to plan.”

The next largest part of GDP is fixed investment in structures, equipment, and intellectual property—at 18% of the total in 2024. This brings in company decision-making. Many goods-makers have been investigating moving production to the U.S., but the latest tariff announcements complicate the process. Will tariffs on Chinese goods remain at 145%? Will North America have free borders again? Will smaller countries like Vietnam and the Philippines be able to avoid their own tariffs?

“If you’re going to invest a billion dollars in a new plant and you’re deciding where to put it, a lack of certainty about what the actual tariff coming from that country is going to be has massive implications.” Baker says. “Firms may adopt a wait-and-see attitude and say ‘we’re not going to make any sort of irrecoverable investments because the risk of losing our investment is too big.’”

Steven Davis of Stanford’s Hoover Institution, who also maintains the Economic Policy Uncertainty Index, sees an additional threat to companies. “This diverts senior leadership from thinking about other things, like how to make better products, how to improve their services, how to make sure they’re managing their workforces as best they can,” he told Barron’s.

Finally, uncertainty hits banks and other lenders, especially when the largest borrower is the U.S. government, the source of the uncertainty. Along with stocks, interest rates have been unusually volatile in the past weeks because bond traders are having a hard time pricing risk.

Banks may decide to maintain a wait-and-see stance, screening borrowers more carefully, asking for higher rates, or more collateral. “Somebody that three months ago they might have extended a loan to,” Davis said, “they no longer will because the underlying economic environment is more risky.”

Read the full article HERE.

Gold rose again after posting its biggest one-day gain in 18 months, as confusion over US President Donald Trump’s tariff agenda drove investors to buy the precious metal as a haven.

Bullion climbed as much as 1.6% on Thursday and was trading less than $50 short of last week’s all-time high. That’s after it closed up 3.3% on Wednesday in a whipsaw day for markets. The precious metal has also been supported by a weaker greenback.

Gold’s initial surge in the previous session came after US tariffs on around 60 trading parters kicked in, fueling market upheavals and increasing worries about a global recession. Then Trump announced a 90-day pause to higher tariffs on 56 countries and the European Union, which will now be taxed at the 10% baseline rate.

“When you’re in a crisis and gold is selling off, that’s telling you you’ve got a liquidity problem,” Carlyle Group Inc.’s Jeff Currie told Bloomberg Television on Thursday. “Then boom, they came out with the reprieve, gold bounced back up which is telling you liquidity came back into the system,” he said.

Still, Trump also hiked duties on China to 125%, effective immediately, after Beijing announced plans to retaliate with an 84% tariff to start Thursday. Those moves are exacerbating concerns the world’s two biggest economies will become enmeshed in a crippling trade war.

Markets rallied after Trump’s tariff-pause announcement. US stocks had their best day since the financial crisis, with the S&P 500 soaring nearly 10%, after slumping to the fringe of a bear market in the past week.

The constant back-and-forth of the US administration’s tariff plan has rocked the world, as investors scramble to find direction and certainty. That’s generally been supportive for gold, which is up 19% this year. The metal has also been bolstered by hopes for more Federal Reserve monetary easing and central-bank buying.

“We remain quite positive for gold,” Dominic Schnider, head of commodities and Asia Pacific currencies at UBS Global Wealth Management, said on Bloomberg Television. “The next step is going to be, at some point, the Fed coming in — and that gives the next leg up for gold.”

Spot gold gained 1.1% to $3,117.15 an ounce as of at 11:52 a.m. in London. The Bloomberg Dollar Spot Index fell for a second day. Silver and platinum were flat, while palladium was down.

Read the full article HERE.

Investors are dumping U.S. assets they usually favour in times of turmoil as fear over the economic impact of U.S. President Donald Trump’s reciprocal tariffs shakes confidence in traditional safe-havens.

The dollar and U.S. Treasuries have taken a beating as Trump’s tariffs, plus a 104% duty on China, took effect, while China swiftly retaliated. In contrast, safe-haven favourites such as gold and the Swiss franc continue to pull in cash.

The rapid rise in U.S. Treasury yields has worried investors, who fear this could be forced selling to cover portfolio losses and a dash for cash, rekindling memories of the COVID-19 market turmoil.

Here is a glance at how traditional safe havens have fared so far during the tariff turbulence:

Dollar takes backseat

The dollar was the first to lose its shine after Trump announced tariffs, when it dropped along with stock markets. This was an unusual move raising questions about the global standing of the U.S. currency, often dubbed “King Dollar” for its strength and dominance in global currency markets.

The dollar has shed more than 5% this year against a basket of other currencies after posting its weakest start to a year since 2016, LSEG data shows.

The dollar’s failure to benefit from rising U.S. Treasury yields has added to investors’ worries because, until now, higher returns on Treasuries relative to other bond markets had boosted the dollar’s appeal.

“The dollar not getting support from (higher) yields suggests the dollar is not a currency safe-haven,” State Street Global Markets’ head of macro strategy Michael Metcalfe said.

Bond rout

Investors initially rushed into government bonds on heightened recession risks, but that has quickly changed.

After plunging 26 basis points last week, U.S. 10-year Treasury yields have surged more than 40 basis points so far this week. Longer-dated bonds are the worst hit, with 30-year yields up nearly 50 bps, set for their biggest weekly jump since the early 1980s. Bond yields rise when prices fall.

An index of Treasury volatility has risen to its highest since late 2023.

Yields have surged even as traders price in faster U.S. Federal Reserve rate cuts, suggesting deliberate dumping of Treasuries rather than selling driven by changes in economic expectations. This is reflected in a widening gap between Treasury yields and interest rate swaps, derivatives used for hedging.

Pepperstone senior strategist Michael Brown said that pointed to a real lack of desire to hold Treasuries.

“Whether this is participants selling down Treasuries to raise cash in order to meet their liquidity needs, or a representation of how institutional confidence in the U.S. has continued to be eroded, remains to be seen.”

Investors also believe the unwinding of a widely used hedge fund arbitrage trading strategy between cash and positions in Treasury futures, known as the basis trade, is adding to these market moves.

The bond market pain is spreading. In Britain, 30-year bond yields rose to their highest since 1998, putting pressure on the country’s stretched finances.

Golden Era

Gold has a long history as a safe-haven asset.

It tends to rise in a financial or political crisis. The 1970s energy crisis, the 1980 U.S. recession, the 2008 global financial crisis and the 2020 COVID-19 pandemic all triggered a rise in gold.

This time gold has surged to all-time highs above $3,000 an ounce, having almost doubled in the past 2-1/2 years. It was caught up in the broader market selling of the past week, as investors rushed to raise cash to plug losses elsewhere.

But gold was up more than 2% on Wednesday, only narrowly below its record peak at $3,167.

Central banks and investors, who scooped up gold as a hedge against the inflation spike after the COVID pandemic, have continued buying even as inflation eased. And with Trump’s isolationist trade policies playing out, more investors are buying it to protect their wealth.

Back in favour

Japan’s yen is often the biggest major currency to benefit from safe-haven flows and typically performs well when stocks falter.

The yen was set for its best day against the dollar since September on Wednesday and has rallied 7.5% so far this year, while another safe-haven favourite, the Swiss franc, has strengthened just as much.

Defensive plays

Stocks are usually in the front line in recessions and financial crises. Investors take profits, yanking their cash as they run for shelter. But most cannot abandon the equity market entirely, so when trouble hits, they pile into stocks with recession-proof earnings, such as drugmakers, utilities and food and beverages.

In the last 25 years, so-called defensive stocks have consistently outperformed cyclical stocks that are most closely linked to the global economy, such as technology or mining shares.

Even though there is no sign yet of a recession, a basket of global defensive stocks has fallen less since Trump’s November election win than a basket of cyclicals, reflecting investors’ caution.

Read the full article HERE.