George Milling-Stanley, chief gold strategist at State Street Global Advisors, says 40% of the gold in the past 12 months still have feet. This is why.
Gold reached a fresh record of $3,139.90 for a ounce this week after crossing the $3,000 mark for the first time in March. meanwhile President Donald Trump’s tariff development Prices are kept down on Thursday, and investors remain positive with yellow metal.
“Traditionally, inflation and real yields have been the main drivers of gold prices, but recent central bank purchases have emerged as the main catalysts for the current rise in gold prices,” according to a recent research notes by Francisso Blanche and Irina Scholschetze of Global Commodity Research at Bank of America.
The team will watch A gold that reaches $3,500increases by 13% from the current level.
George Milling-Stanley, chief gold strategist at State Street Global Advisors, also believes that the Central Bank purchase will continue to Gold Humm this year, but he’s also seen two additional drivers.
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“There’s been a significant increase in investment in emerging markets, particularly in China, but there’s been a significant increase in investment in India and elsewhere last year,” he told Fox Business in February. “We’ve seen the revival of gold investments in the Western world, Western Europe and North America, I think it’s largely due to concerns about the outlook for the US and European economies,” he added.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| I: DJI | Dow Jones average | 40545.93 | -1,679.39 |
-3.98% |
| SP500 | S&P 500 | 5396.52 | -274.45 |
-4.84% |
| I:comp | Nasdaq Composite Index | 16550.605314 | -1,050.44 |
-5.97% |
US stocks were rattling on Thursday After Trump’s mutual tariffs unfold, all three main averages fall. The Dow Jones industrial average fell by more than 1,600 points, down more than 4%, the S&P 500 lost nearly 5%, and the NASDAQ composites fell by about 6%.
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View of 99.99% pure gold ingots (Alexander Manzyuk/Anadolu Getty Images)
“Money has been a good place ever since the US freezes Russian assets when it invaded Ukraine. I think that will continue to be the case. More uncertainty and chaos, better money should be done.”
So far, Gold has increased $467.80 (17.79%), as tracked by the Dow Jones Market Data Group. In comparison, the broadest measure of stocks, the S&P 500, fell by 8%.
The SPDR Gold Trust ETF on State Street is the only ETF backed by Physical Gold, with an 18% advance. In comparison, the broadest measure of the stock market, the S&P 500, lost 8%.
