• 3 months ago
Gold has surged to over $2,500 an ounce, driven by expectations that the Federal Reserve will soon cut U.S. interest rates. This 21% increase in 2024 has made gold one of the top-performing commodities. UBS and ANZ predict further gains, with prices possibly reaching $2,700 by mid-2025. The recent price spike reflects falling real rates, increased hedge fund activity, and renewed interest in gold-backed ETFs. Indicators from China suggest some softening, with the People's Bank of China pausing its purchases and weaker local premiums.

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00:00It's Benzinga and here's what's on the block.
00:03Gold has surged to over $2,500 an ounce driven by expectations that the Federal Reserve will
00:08soon cut U.S. interest rates.
00:10This 21% increase in 2024 has made gold one of the top-performing commodities.
00:15UBS and ANZ predict further gains with prices possibly reaching $2,700 by mid-2025.
00:21The recent price spike reflects falling real rates, increased hedge fund activity, and
00:26renewed interest in gold-backed ETFs.
00:28Indicators from China suggest some softening with the People's Bank of China pausing its
00:32purchases and weaker local premiums.
00:35For all things money, visit Benzinga.com.

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