Article Synopsis
Bank of America’s investment strategist Michael Hartnett advises investors to buy gold, despite it being near record-high prices. He believes that potential interest rate cuts by the Federal Reserve could lead to inflation, making gold a smart investment.
Despite gold’s impressive 20% gain this year, outperforming the S&P 500 and tech stocks, investors have been selling rather than buying, leading to $2.5 billion in outflows. However, central banks, particularly China’s, have been buying large amounts of gold, driving the price surge.
Gold is outperforming tech stocks this year, and investors should keep buying, BofA says
Aug 23,2024
Article from Business Insider by Matthew Fox
Article Synopsis
