Gold’s dizzying ascent isn’t over yet, say fundies
Gold’s rally to successive record highs isn’t over, according to macro fund managers, and the factors that have powered a near-20 per cent surge since mid-February are expected to fuel more gains in the precious metal.
The higher prices have been fuelled by expectations that the US Federal Reserve will lower interest rates this year, typically an environment that reduces the opportunity cost of holding the metal. Meanwhile, messy conflicts in the Middle East and Ukraine support demand for safe-haven assets, and purchases by global central banks add to a bullish backdrop.
Bloomberg
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