Gold summary for April 2023. Having surged 7.6% higher in March, gold enjoyed momentum in early April from recession worries, and hopes that the US Federal Reserve may pause or slow its rate hike campaign. Gold started April near $1,968 and was almost 1% higher by the 10th, as weak U.S. economic data underpinned demand for safe-haven assets.

By the 13th, gold was in striking distance of a fresh all-time high, at $2,047 an ounce.

The yellow metal also had support from a mid-month dip in Treasury yields and the dollar. Gold consolidated gains on the 19th, as selling pressure and a resurgent dollar index provided downside pressure.

By month's end, the reality of another quarter-point rate hike cut against gold's momentum. However, gold enjoyed additional safe-haven inflows following news of yet another bank failure in First Republic Bank. Gold was directionally conflicted by month's end, but would manage to end the month 0.7% higher, at $1,983 an ounce.

As for Crypto news. The White House has proposed a plan to make crypto miners pay a tax equal to 30% of the electricity they use during their mining operations.

Congress is still treating the crypto industry like a step-child. Subscribe. The channel will keep you updated oncrypto regulations.