2024-03-10 11:29:33 ET
Summary
- Gold prices surged 4% as real interest rates dropped and the US Dollar Index reached a low point, indicating potential macro tailwinds for the precious metal.
- Along with a buy rating on GLD, I profile two up-and-coming gold-related ETFs that have each outperformed GLD and GDX over the past year.
- GDE combines large-cap US stocks with a gold futures overlay, while GDMN focuses on gold mining stocks and gold futures contracts.
Gold launched to fresh all-time highs last week . The 4% advance came as real interest rates dipped further and the US Dollar Index finished near its lowest mark since the middle of January. Furthermore, China has been a net purchaser of gold for a whopping 16 straight weeks - its central bank now holds 72.6 million troy ounces, or about 2,257 tons. At home, the US national debt is rising by $1 trillion about every 100 days. There are no doubt macro tailwinds for the precious metal, but is gold’s thrust telling us something about where the global economy may head in the months ahead? That remains a hot topic between the bulls, bears, and most macro strategists. ...
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For further details see:
Glittering Gold: New Ways To Play GLD's Breakout