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August 21, 2024

#Gold keeps rising


As gold passes $2500/oz. reaching all-time highs, everyone wonders, will the rally continue?

The short and long of it is, Yes.

It's financial demand that will be the main driver:

Gold is under-owned. US households need a hedge from their extreme equity exposure. Given the fiscal outlook—no matter who wins the presidency—, they rightly don't trust bonds. The relatively small and slow-growing amount of gold available, means any small investor shift is likely to move the price a lot.

Even the longtime skeptics at the FT reluctantly agree:

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