How Lower Rates And Central Bank Demand Are Fueling The Gold Rally [Forbes]
U.S. Global Investors, Inc. - Class A (GROW)
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Source: Forbes
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. At the heart of gold's resurgence is the Federal Reserve's signal that it may be ready to throw in the towel. Fed Chair Jerome Powell has made it clear that the central bank is on course to cut rates as many as three times in 2024, fueling hopes that the tight monetary policy of the past 18 months is nearing an end. With rate cuts on the horizon, real yields have cooled, increasing the relative attractiveness of non-interest-bearing gold. Gold has surged to new highs as real yields drop Traders have wasted little time pricing in the Fed's dovish stance. Futures markets now see a 72% chance of a rate cut as soon as June, up from 65% before the Fed meeting. Against this backdrop, gold's sur
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GROW
Sec Filings
- 4/24/24 - Form 13F-HR
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- GROW's page on the SEC website