Skyrocketing gold prices are being fueled by lawmakers and this one threat: Goldman Sachs [Yahoo! Finance News]
Freeport-McMoRan, Inc. (FCX)
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Source: Yahoo! Finance News
Gold’s runaway ascent in recent weeks is being fueled in large part by free-spending lawmakers and the subsequent threat to the U.S. dollar as a store of value, Goldman Sachs strategist said in a new note Tuesday.“The recent surge in gold prices to new all-time highs has substantially outpaced both the rise in real rates and other US dollar alternatives, like the Euro, Yen and Swiss Franc. We believe this disconnect is being driven by a potential shift in the US Fed towards an inflationary bias against a backdrop of rising geopolitical tensions, elevated US domestic political and social uncertainty, and a growing second wave of Covid-19 related infections. Combined with a record level of debt accumulation by the US government, real concerns around the longevity of the US dollar as a reserve currency have started to emerge,” explained Goldman strategist Jeffrey Currie.Gold prices have powered higher despite the stock market’s surge from the March lows) to nearly $2,000 an ounce, an all
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FCX
Earnings
- 4/24/24 - Beat
FCX
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 5/1/24 - Form 4
- FCX's page on the SEC website