GLDI - Gold Monthly: Gold Breaks New Highs
2024-05-09 15:40:00 ET
Summary
- Gold hit an all-time high above $2,400/oz in April after a rally underpinned by strong demand from the world’s central banks and geopolitical tensions.
- If the Fed continues its cautious approach to easing, gold prices risk a pullback.
- We expect gold prices to remain volatile in the coming months as the market reacts to macro drivers, tracking geopolitical events and Fed rate policy.
By Ewa Manthey
Gold is up 12% this year despite a stronger dollar
US Fed in focus
Gold has climbed more than 12% so far this year despite the timeline for Fed cuts being pushed back. Higher rates are typically negative for gold as it doesn’t pay interest....
Gold Monthly: Gold Breaks New Highs