Gold hit a brand new high again, topping $2,668.90/oz on 26 September 20241. It appears that all stars were aligned for the metal in September: 1. the US Federal Reserve (Fed) joined many other central banks in cutting interest rates; 2. bond yields fell aggressively; 3. the US Dollar depreciated to a 14-month low; 4. geopolitical risks continue to escalate, and 5. the People’s Bank of China engaged in aggressive monetary stimulus with strong hints of fiscal stimulus to follow from the government. We believe that gold has the potential to keep rising amid a rate-cutting environment, geopolitical anxiety and strong investor sentiment towards the metal.
Read more >
1 Based on London Bullion Markets Association AM price
Historical performance is not an indication of future results and any investments may go down in value.
