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Gold Forecast: XAU/USD Nears Record Highs as “Year of Metals” Continues
Gold saw strong performance last week, but bulls on the yellow metal might still feel like they’re getting the short end of the stick with rivals like Silver and Copper outperforming gold and hitting record highs. The “Year of Metals” continues unabated amidst structural undersupply, sovereign purchases, and imminent monetary easing. Outside of the long-standing-but-thus-far-unrealized concerns about record sovereign debt loads, monetary debasement, and the dangers of fiat currencies, there is a far more traditional factor driving gold prices higher this year: rising demand, especially at a sovereign level. The ... (full story)