Futures tied to the precious metal hit an intraday record on Monday.
Gold prices just won't stop rising. Futures tied to the precious metal hit an intraday record on Monday, reaching $2,617.40 per ounce. Year to date, gold is up nearly 26%, outpacing the S & P 500's 18% gain. That advance also puts the commodity on pace for its biggest annual increase since 2010, when it surged nearly 30%, FactSet data shows.
1 YTD mountain Gold year to date "While we see some tactical downside to gold prices under our economists' base case of a 25bp Fed cut on Wednesday, we reiterate our long gold trading recommendation and our price target of $2,700/ by early 2025 given structurally higher central bank demand, the gradual boost from rate cuts, and gold's hedging benefits against geopolitical, financial and recessionary risks," Lina Thomas, commodities strategist at Goldman, wrote in a note.
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