What the skyrocketing price of gold reveals about the economy

Summary

Podcast Summary: Apple News Today

Episode: What the skyrocketing price of gold reveals about the economy
Date: October 10, 2025
Host: Yasmeen Khan (in for Shumita Basu)

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Episode Overview

In this episode, Yasmeen Khan leads listeners through a packed news day, covering significant global and domestic stories. The main focus is examining what the record-breaking gold price reveals about the current state of the U.S. and global economy, juxtaposed with other big headlines: a historic ceasefire in Gaza, ethics questions around Trump’s immigration czar, new legal troubles for prominent Trump critics, and a surprising NFL rule change.

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Key Discussion Points & Insights

1. Historic Gaza Ceasefire Agreement

(00:05 – 05:19)

• Event: Israel and Hamas reach a formal ceasefire, ending two years of war.
• Key Details:
  • Israel's cabinet approved the deal; Hamas declared an end to the conflict.
  • The agreement paves the way for the release of remaining hostages and redeployment of Israeli forces.
  • International support largely united; neighboring countries and European allies praise the move.
  • Emotional reactions in both Israel and Gaza, with scenes of jubilation and relief.

Quotes & Notable Moments:

• "We are at a momentous development in the last two years. We fought during these two years to achieve our war aims. And the central one of these war aims is to return the hostages, all of the hostages, the living and the dead. And we're about to achieve that goal." — Donald Trump, (01:08)
• "This is what we've been striving for these two years. When we were out rallying, protesting...this was the moment that we were waiting for." — Udi Goren, Israeli, as reported by CBS’s Hayley Ott (03:05)
• "I'm optimistic, hopeful, happy, feel lots of joy and relief." — Hada Al Kurd, Palestinian journalist, via BBC (03:33)
• "We have all waited far too long for this moment. Now we must make it truly count." — UN Secretary General, Antonio Guterres (02:13)

Important Segment: Details on the logistics of the exchange, implications for the region, and U.S. military involvement (04:49–05:19).

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2. Scrutiny of Trump’s Borders Czar Tom Homan

(05:19 – 08:38)

• Allegations:
  • Tom Homan, leading border policy under Trump, accused of accepting cash bribes before his current role; the investigation was later closed without charges.
  • ProPublica investigation highlights Homan’s private sector ties and perceived conflicts of interest involving government contracts.
• Key Insights and Investigations:
  • The federal government spends tens of billions on private migrant detention contracts, and Homan’s prior networking is under scrutiny.
  • Official stance is that Homan recused himself; industry sources and ProPublica disagree, seeing him as central to policy shaping.

Quotes:

• “There's a whole world of former government officials who sell their services to would be government contractors...” — Asher Shapiro, ProPublica (07:30)
• “Tom Homan has claimed to be recused...he is understood to be a key figure in the shape of this policy.” — Asher Shapiro (08:25)

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3. What the Skyrocketing Price of Gold Reveals About the Economy

(08:39 – 11:47)

• Record Gold Prices:
  • Gold surpasses $4,000/oz, indicating a massive investor rush into traditional safe havens.
  • Market uncertainty driven by a lack of trust in the financial system and government policies.
  • Despite strong stock market and GDP growth signals, the labor market is weak, and business sentiment is fragile.
• Role of Trump’s Policies:
  • Concerns around changes to trade agreements, pressure on the Federal Reserve, and overall economic management.
  • Investors flocking to alternatives: gold, bitcoin, and others.
  • The price surge seen as an indicator of widespread distrust about the value of the US dollar and the government’s handling of inflation.

Quotes:

• “There's been a rush into gold... because of a lack of trust in the current financial system and the outlook for the global economic order.” — David Uberti, Wall Street Journal (09:35)
• “It's distrust. That's what the trade is. It's distrust that the government's going to care about inflation...and that the dollar can maintain its value in spite of it all...gold is flashing that warning signal right now.” — David Uberti (11:06)

Timestamps:

• Gold segment introduction: (08:39)
• Investor sentiment & economic risks: (10:00–10:36)
• Analysis of gold as “warning signal”: (11:06)

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4. Additional Headlines

(11:48 – 13:06)

• Legal Troubles for Trump’s Critics:
  • NY AG Letitia James indicted for alleged bank fraud (11:48).
  • Former FBI Director James Comey charged with lying to Congress.
  • Both cases involve prior lack of evidence and political overtones.
• Judicial Action:
  • A federal judge blocks the deployment of National Guard troops to Illinois, citing fears of increased unrest.
• NFL Field Goal Rule Change:
  • Kickers can now use practice-broken-in balls, possibly enabling longer field goals, although experts say the data is inconclusive.
  • “Kickers praised the change, saying they as specialists should be able to form the ball as they wish.” (NFL coach quote summarized at 12:55)

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Notable Quotes and Memorable Moments

• “We have all waited far too long for this moment. Now we must make it truly count.” — UN Secretary General, Antonio Guterres (02:13)
• “Gold is flashing that warning signal right now. So it’s just a question of whether this continues or whether prices crash back down to earth.” — David Uberti, Wall Street Journal (11:06)
• “I'm optimistic, hopeful, happy, feel lots of joy and relief.” — Hada Al Kurd, on ceasefire in Gaza (03:33)

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Conclusion

This episode weaves together major headlines with in-depth economic analysis, especially around the historic gold price surge. Listeners get not just a snapshot of today’s news but a sense of the interconnection between geopolitical shifts, government ethics, and signals flashing from the financial system. The focus on gold serves as a barometer for the deep anxieties running through the economy in 2025, making it essential listening for anyone tracking how politics and markets intersect.

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Timestamps Recap:

• [00:05–05:19] Gaza Ceasefire
• [05:19–08:38] Border Czar Scrutiny
• [08:39–11:47] Gold Prices & Economy
• [11:48–13:06] Legal News & NFL Rule Change

Transcript

[Yasmeen Khan]

Good morning. It's Friday, October 10th. I'm Yasmeen Khan in for Shamita Basu. This is Apple News today. On today's show, what the record breaking price of gold tells us about the economy, the questions surrounding Trump's borders are, and the surprising reason NFL fans might be seeing longer field goals. But first, to the historic scenes following the announcement of a ceasefire in Gaza yesterday. Israel's cabinet formally agreed to the deal and Hamas's chief negotiator declared an end to the war. The agreement paves the way for the release of the remaining hostages in the coming days, and it raises hopes that the suffering for Palestinians might finally come to an end. After sealing the deal, Israeli Prime Minister Benjamin Netanyahu gave remarks, flanked by President Trump's Middle east envoy, Steve Witkoff, and Trump's son in law, Jared Kushner.

[Donald Trump]

We are at a momentous development in the last two years. We fought during these two years to achieve our war aims. And the central one of these war aims is to return the hostages, all of the hostages, the living and the dead. And we're about to achieve that goal.

[Yasmeen Khan]

Kushner, who has reportedly played a central role in talks over the past week, heaped praise on the Israeli leader.

[Donald Trump]

I want to just give a very, very special thanks to Prime Minister Netanyahu, who really did an incredible job with this, and you did a great job in negotiations. You held your lines firm. And I think that between you and President Trump, you had a lot of alignment on what the end state should be.

[Yasmeen Khan]

And for the first time in a long time, much of the international community spoke largely as one. Countries in the region, like Egypt, Turkey and Qatar all backed the deal, and many European allies expressed hope that it would mark the beginning of lasting peace. The UN's Secretary General, Antonio Guterres, gave his reaction to.

[Donald Trump]

We must never forget the unbearable human cost of, of this conflict. I mourn all of the lives lost. We have all waited far too long for this moment. Now we must make it truly count. I urge all parties to fully abide by the terms of the agreement and to fully embrace the opportunities it presents.

[Yasmeen Khan]

As it became clear the deal was holding firm, Israelis and Palestinians began their celebrations in Tel Aviv. Hostages Square has over the past two years become a base of protest and solemn gatherings. But yesterday it was a scene of jubilation. Reporters described singing and dancing while some people waved the American flag and chanted Trump's name. CBS's Hayley Ott was there speaking to Udi Goren, who was hoping for the return of his cousin's body.

[Donald Trump]

This is what we've been striving for these two years. When we were out rallying, protesting, when we went all over the world, when we went to the Israeli parliament, this was the moment that we were waiting for.

[Yasmeen Khan]

And in Gaza, teams of emergency workers drove through the streets chanting and cheering. The BBC heard from one Palestinian journalist, Hada Al Kurd, who has relocated to different locations many times during the war to protect her family's safety.

[David Uberti]

I'm optimistic, hopeful, happy, feel lots of joy and relief.

[Donald Trump]

It's been two years of fighting, of.

[David Uberti]

Killing, of destruction, of airstrikes, and now this come to end.

[Yasmeen Khan]

Finally, Israel will now commence a partial withdrawal from Gaza and the IDF will redeploy to a new line, meaning it will control about 53% of the Gaza Strip. After that, there is a 72 hour window for Hamas to get the remaining 48 hostages back to families, around 20 of whom are thought to be alive. Hamas is working with nearby countries to retrieve those individuals. But during negotiations, Hamas officials indicated they're not optimistic they'll be able to retrieve all bodies of the deceased. Once Hamas returns the hostages, Israel will release 2,000 Palestinians from Israeli jails. If the deal goes through, Palestinians will finally secure access to food and supplies in the coming days as the deal allows for UN administered aid to re enter the country. In August, UN backed experts declared a famine in Gaza. Meanwhile, we learned more about the US military's role in the days ahead. The US will send 200 troops to ensure stability in the region overseen by US Central Command. Officials say no American troops would be on the ground in Gaza. Yesterday, Trump spoke to reporters at his Cabinet meeting.

[Donald Trump]

We reached a momentous breakthrough in the Middle east, something that people said was never going to be done. We ended the war in Gaza and really on a much bigger basis created peace. And I think it's going to be a lasting peace, hopefully an everlasting peace.

[Yasmeen Khan]

Trump has said he may travel to Egypt in the coming days for a signing ceremony. In recent weeks, President Trump's borders are. Tom Homan has been the subject of intense scrutiny and investigations from congressional Democrats. That follows reporting from MSNBC and then matched by other outlets alleging Homan was recorded accepting a $50,000 cash bribe from federal agents posing as prospective government contractors. This happened before he took on his current role in the administration, but the case was closed when Trump took office. Attorney General Pam Bondi was pressed about the matter by Democratic Senator Sheldon Whitehouse during a Senate hearing this week.

[Donald Trump]

Are you saying that they did not deliver $50,000 in cash to Mr. Homan.

[Yasmeen Khan]

Senator, as recently stated, the investigation of Mr. Homan was subjected to a full.

[David Uberti]

Review by FBI agents. That's a different Department of Justice prosecutors.

[Yasmeen Khan]

They found no evidence of wrongdoing. Current federal officials dismissed the investigation into Homan, saying without providing detail that they found no credible evidence of criminal wrongdoing and the former administration was motivated by politics to start the probe. A White House spokesperson said that Homan had not been involved in any contract award decisions. But a recent investigative report from ProPublica suggests that Homan's time in the private sector between the first Trump term and this current one led to lucrative business relationships that threaten the line between private contract and government work. Today, in the private sector, Homan worked with a Pennsylvania businessman named Charles Sowell. ProPublica reports that Sol paid Homan a sum of money, more than $5,000, between 2023 and early 2025, though it's not clear exactly when or how much. Sowell was a consultant for companies looking to win contracts with government agencies. Homan once worked for AVI. Asher Shapiro is an investigative reporter for ProPublica.

[Asher Shapiro]

There's a whole world of former government officials who sell their services to would be government contractors helping them navigate the contracting process.

[Yasmeen Khan]

All of that work is above board. When Homan took his current job in the second Trump administration, he pledged to follow a traditional pathway of recusal that happens when people move between the private and government sectors.

[Asher Shapiro]

We have a pretty robust government ethics set of code of conduct in the country, so while it's, you know, kosher to go from the public to private sector or vice versa, you know, you have to take certain steps to insulate yourself from conflicts.

[Yasmeen Khan]

The federal government is seeking to spend tens of billions of dollars on private detention facilities for migrants, which is drawing in proposals from contractors. ProPublica reports that at least half a dozen companies have tried to go through Seoul believing that his connections with Homan would help them land government.

[Asher Shapiro]

Tom Homan has claimed to be recused. The understanding among sources I spoke to in this space is that, you know, Tom Homan is not understood to be recused in this industry. He is understood to be a key figure in the shape of this policy.

[Yasmeen Khan]

Sowell told ProPublica he and Homan no longer have a financial relationship. The White House says that while Homan is not directly involved in the awarding of specific contracts, he occasionally meets with people to, quote, unquote, learn about new developments and capabilities to serve the needs of the American public. Homan did not respond to ProPublica's request for comment. Government officials are supposed to steer clear of any activity that could impact former business associates for a year after entering government. Now let's talk about the record breaking value of gold. For the first time, the price surpassed $4,000 per troy ounce. That's the measurement for gold. The jump signals that investors are looking to obtain alternative assets. At a time when there's a big question mark hanging over the US Economy.

[David Uberti]

There's been a rush into gold and one of the reasons why traders on Wall street think that's happening is sort of because a lack of trust in the current financial system and the outlook for the global economic order.

[Yasmeen Khan]

David Uberti with the Wall Street Journal told us that while there have been record breaking gains for the stock market and positive signals for GDP growth, investors have reason to be wary.

[David Uberti]

The labor market is quite weak and we're seeing anecdotally in our reporting just a lot of signs of stress and tension and uncertainty from major businesses across the economy. It's really giving us mixed signals about what's actually happening across the country.

[Yasmeen Khan]

The fact that the price of gold has more than doubled in recent years is particularly surprising because gold is often seen as an asset that doesn't fluctuate all that much except during financial meltdowns. Today, much of the economic uncertainty is driven by fear that policy decisions made by President Trump will destabilize the dollar.

[David Uberti]

On Wall street, the uncertainty emanating from Washington is really bleeding into a lot of investors decisions about this and in order to protect themselves, potential for uncertainty. They veered toward gold, they veered toward bitcoin, they veered towards some of the alternatives to things like the dollar.

[Yasmeen Khan]

Trump's reordering of global trade agreements has altered growth forecasts. And his pressure on the Federal Reserve to lower interest rates threatens the broader financial system's checks and balances.

[David Uberti]

It's distrust. That's what the trade is. It's distrust that the government's going to care about inflation. It's distrust that elected officials will care about inflation's effects over the course of time. And it's distru that the dollar can maintain its value in spite of it all. So those are those dollars that are in your wallet and my wallet as well. So if we're looking for signs of what's happening in the world from financial markets, gold is flashing that warning signal right now. So it's just a question of whether this continues or whether prices crash back down to earth.

[Yasmeen Khan]

Before we let you go, a few other stories we're following Another of President Trump's targets was charged yesterday. New York Attorney General Letitia James was charged with one count of bank fraud and one count of making false statements, Reuters reports. James is alleged to have falsified records to receive favorable loan terms on houses she purchased in Virginia and Brooklyn in James has previously denied wrongdoing, saying she made a clerical error but never deceived her loan provider. James has been one of Trump's most prominent critics. Last year, her office won a case against Trump's real estate company, which resulted in a $454 million penalty against the president. That penalty was ultimately thrown out, but the case is on appeal from both sides. Her indictment comes on the heels of charges against former FBI Director James Comey, who pleaded not guilty to allegations that he lied to con. A previous DOJ attorney had resigned under pressure from Trump after concluding there was not enough evidence to prosecute either Comey or James. His successor, Lindsey Halligan, helped bring the charges. A federal judge has blocked Trump from deploying the National Guard to Illinois after hearing a case brought by the state's governor. Judge April Perry said that permitting Guard troops in the state would only add fuel to the fire and that she was struggling to figure out where this would ever stop. She said she thought the arrival of the National Guard would in fact likely lead to more civil unrest. The White House said it would appeal the order. And finally, if you've noticed your favorite NFL team is making longer field goals, it might be because of a rule change governing the footballs allowed on the field during games. Kickers are now permitted to use balls that they've broken in at practice. And this is a big change from when ball boys had to furiously try to weather new footballs just before games started. One coach in the NFL went so far as to suggest there should be an asterisk next to super long field goals made this year, the athletic reports. The data doesn't quite support the theory that the broken end footballs lead to longer kicks. And a number of factors like bigger, stronger kickers might also be a reason. Kickers praised the change, saying they as specialists should be able to form the ball as they wish. Earlier this season, the record for the longest outdoor regular season field goal In NFL history, 65 yards, was made by Tampa Bay Buccaneers kicker Chase McLaughlin. You can find all these stories and more in the Apple News app. And if you're already listening in the news app right now, stick around for the latest episode of Apple News and Conversation. This week, Shemitah Basu sat down with two hosts of why Should I Trust yout? A new podcast that brings together members of the Make America Healthy Again movement and public health experts. If you're listening in the podcasts app, you can follow Apple News and Conversation to find that episode. Enjoy the weekend and we'll be back with the news on Monday.