_{ECONOMIC INSIGHTS}

Thanksgiving Costs Ease Slightly, But Americans Remain ‘Weary’ from Persistent Inflation, Survey Reveals 

The cost of a traditional Thanksgiving meal in 2024 has decreased slightly compared to last year but remains significantly higher than pre-pandemic levels five years ago, according to the American Farm Bureau Federation's annual survey. The meal for ten people now costs $58.08, down 5% from 2023 but still 19% higher than 2019 prices. Regional variations show the highest costs in the West and the lowest in the South.

Despite the price drop, consumers remain weary from years of inflation, and farmers face challenges as net farm income is projected to decrease by $6.4 billion this year. Turkey production hit its lowest level since 1985, but reduced consumer demand offset the lower supply. On average, turkey accounts for 44.2% of the meal’s cost.

The economic strain has impacted both consumers and farmers, with rising input costs and lower output prices creating financial difficulties for agricultural families. While grocery costs have eased slightly, the overall economic environment continues to weigh heavily on Americans. Read more. 

_{BULLION INSIGHTS}

Gold Prices Poised for Largest Weekly Surge in 20 Months Amid Haven Demand

Gold is on track for its largest weekly gain in 20 months, climbing 5.5% amid escalating geopolitical tensions and expectations of Federal Reserve easing. Prices surged as high as $2,710.16 per ounce, driven by safe-haven demand following reports of Russia launching a new type of ballistic missile in Ukraine. Heightened geopolitical risks have boosted investor interest in gold as a safety asset.

Additional support came from comments by Federal Reserve official Austan Goolsbee, who signaled potential rate cuts, benefiting non-yielding bullion. Gold has risen over 30% in 2024, bolstered by strong central bank purchases, rising haven demand, and a Fed pivot to lower rates. Analysts at Goldman Sachs and UBS predict further records in 2025.

Other precious metals saw mixed movements, with silver and platinum rising while palladium declined. Read more.