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Challenges to Fed Autonomy Strengthen Case for Gold
In August, spot gold increased $158.02 per ounce (or 4.80%) to close the month at $3,347.95, an all-time closing high. Spot gold was up 31.38% year-to-date at the end of August, its best year-to-date performance since 1979. Gold is well on its way to being one of the strongest-performing asset classes for another year. After a sharp rise into April's tumultuous tariff-driven market stress, gold went into a time correction pattern as risk assets rallied, but gold holders held onto their positions. With equity positioning now reaching the upper end of likely allocations, in our view, and risk headlines building, gold ... (full story)
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