Article Synopsis
Gold prices have reached new record highs this month, driven by its role as a hedge against inflation and significant central-bank purchases, differentiating it from industrial metals like silver and copper. On Thursday, gold futures settled at $2,456.40 an ounce, close to the all-time high of $2,488.40. In contrast, silver and copper have lagged, with silver trading at $30.22 and copper at $4.28.
Gold’s rise is attributed to factors like deficit spending, declining Treasury yields, and a weaker dollar. Central banks’ strong demand for gold has also played a key role, with 2023 demand nearing record levels. Despite economic fluctuations, gold is expected to continue its upward trend due to its perceived safety and potential inflationary pressures.
