Article Synopsis
The recent surge in gold prices may signal a possible recession, according to Chris Mancini, a portfolio manager at Gabelli Funds. He explains that growing interest in gold is linked to expectations of falling interest rates as the economy shows signs of weakening. Mancini highlights that gold-backed ETFs are gaining traction, driven by consistent demand from central banks, particularly in China, and increased ETF purchases as rates decline. He predicts that if the Federal Reserve continues to cut rates, inflows into gold ETFs will persist, driving prices even higher.
How central banks, ETF inflows are driving gold prices
Aug 21,2024
Article from Yahoo Finance by Seana Smith and Madison Mills
Article Synopsis
