2024-03-26 04:12:47 ET
Summary
- Gold has surged to fresh all-time highs above $2,200 an ounce, adding around 10% to its value since mid-February.
- The Federal Reserve's signal of potential rate cuts has increased the attractiveness of non-interest-bearing gold.
- Central bank demand for gold, particularly from China, has been a powerful driver of the rally, offsetting selling pressure from gold-backed ETFs.
Gold staged a blinding comeback last week, surging to fresh all-time highs above $2,200 an ounce. The rally, which has added around 10% to gold’s value since mid-February, caught many market watchers off-guard. But for those of us who’ve stuck with the yellow metal through its ups and downs, the price action is the vindicating result of several powerful forces aligning in bullion’s favor....
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For further details see:
How Lower Rates And Central Bank Demand Are Fueling The Gold Rally