London catching up to Shanghai. Gold trading at $2,222 there today.
— Peter Spina ⚒ GoldSeek | SilverSeek (@goldseek) March 27, 2024
In the world of commodities, gold has always held a special allure, and today, its shine is only growing brighter. As London bids up gold prices, the market buzz is palpable, with prices soaring to $2,222. It seems that London is catching up to the gold fever that has long been reigning supreme in Shanghai.
Gold’s upward trajectory isn’t just a coincidence; it’s backed by solid analysis. According to Goldman Sachs, US rate cuts in non-recessionary environments tend to drive commodity prices higher, with metals like copper and gold taking center stage. With the prospect of rate cuts looming, investors are turning to gold as a safe haven, driving its prices to new heights.
In uncertain times, precious metals like gold offer stability and security, making them a favored choice for investors looking to diversify their portfolios. As London embraces the gold rush, it’s a reminder of the enduring appeal of this timeless commodity.
"US rate cuts in non-recessionary environments lead to higher commodity prices, with the biggest boost to metals (copper and gold in particular), followed by crude oil."
– Goldman Sachs pic.twitter.com/DKAOGWjjHP
— Daily Chartbook (@dailychartbook) March 27, 2024
https://finance.yahoo.com/news/golds-record-march-higher-set-to-continue-goldman-says-164325765.html