{"id":3445734,"date":"2026-01-22T07:10:43","date_gmt":"2026-01-22T05:10:43","guid":{"rendered":"http:\/\/nhub.news\/?p=3445734"},"modified":"2026-01-23T13:34:52","modified_gmt":"2026-01-23T11:34:52","slug":"the-trump-taco-trade-is-driving-up-the-price-of-gold-as-central-banks-hoard-bullion-to-hedge-against-the-dollar","status":"publish","type":"post","link":"http:\/\/nhub.news\/ru\/2026\/01\/the-trump-taco-trade-is-driving-up-the-price-of-gold-as-central-banks-hoard-bullion-to-hedge-against-the-dollar\/","title":{"rendered":"The Trump TACO trade is driving up the price of gold as central banks hoard bullion to hedge against the dollar"},"content":{"rendered":"

Gold has overtaken the euro and U.S. Treasuries as the preferred source of reserves for central banks.<\/b>
\nPerhaps we should not have been surprised.
In what now looks like a well-worn negotiating tactic, President Trump yesterday did a complete 180-degree U-turn from his previous threats and said he would not use military force to invade Greenland, would not impose tariffs on European countries resisting a U.S. takeover of Danish territory, and would accept \u201cadditional discussions\u201d instead.
The markets breathed a big sigh of relief. S&P 500 futures were up 0.64% this morning after the index rose 1.16% yesterday, putting it back into positive territory for the year to date (up 0.44%).
Inevitably, traders piled into the \u201cTrump TACO trade\u201d\u2014the notion that \u201cTrump Always Chickens Out.\u201d The TACO trade (buying the dips when Trump says something scary and then enjoying the upside when he compromises) has been so reliable over the last year that some traders are worrying that the market will become complacent to Trump\u2019s more outlandish threats.<\/p>\n