Gold prices (GC = f) increased to a new record on Monday, putting the precious metal in the rhythm for its greater annual gain in more than 45 years.
Gold futures increased to around $ 3,750, while immediate delivery was negotiated above $ 3,700 per ounce.
The precious metal has increased more than 40% to date, marking its best year from 1979, according to the investigation compiled by Carson Group.
Read more: How to invest in gold in 4 steps
Gold’s Monster race this year has been promoted in part by the expectations of a Fed flexibility cycle, which began last week when political leaders reduced interest rates at 25 basic points and pointed out two more reductions in 2025.
A weaker dollar also has fed gold, which has a price on the US currency. The dollar index (dx-y.nyb), which measures the green back against a coin basket, has decreased approximately 10% to date.
Tickets in funds quoted in the stock market (ETF) with physical support reached a maximum of three years, while central banks have continued to accumulate their precious metal holdings.
“We see it really driven by central banks from around the world, particularly those in emerging markets, and those markets, Russia and China and India … buying gold to cover their coins versus the dollar,” said John Stoltzfus, Investment Strolle of Oppenheimer Chief Investment of Oppenheimer, A Yahoo Finance. “And when they buy, they buy in size.”
The precious metal has far exceeded the S&P 500 (^GSPC) and even Bitcoin (BTC-USD), 13% and 20%, respectively, during the same period.
A survey of Fund Administrators of the Bank of America in September published last week showed that Gold rose to the number 2 of the busiest trades, just behind the “magnificent seven” actions.
Even so, when asked about their assignment to gold, 39% of the fund managers surveyed said their current gold position is closer to 0%. The weighted average allocation among all those who participated in the survey was only 2.3%.
Earlier this month, Goldman Sachs analysts pointed out that Gold’s break reflects “Buyers of convictions intensify purchases”, including ETF holdings, the strongest speculative positioning and the demand for reactions of central banks after a seasonal summer calm.
The firm reiterated its target price of $ 4,000 per ounce of Troy in mid -2026.
Ines Ferre is a Senior business reporter from Yahoo Finance. Follow her in X in @ines_ferre.
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(Tagstotranslate) Gold Futures (T) Carson Group (T) Central Banks (T) Metal Price Metal
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