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Gold On Pace For Its Best Year Since 1979 — But One Analyst Thinks Prices Have Peaked
Gold (GC=F) futures sat near $4,000 per ounce on Friday, remaining steady after last month's sharp sell-off but raising questions over where the precious metal is headed next. Gold is still on pace for its best year since 1979, driven by central bank purchasing and increased inflows into exchange-traded funds (ETFs), bar and coin purchases. But the yellow metal is off roughly 9% from its all-time high north of $4,350 last month. Analysts at Macquarie Group said Thursday they believe gold prices have likely peaked, noting that other central banks began cutting rates ahead of the Federal Reserve, which has remained ... (full story)
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