Inflation Hasn't Been This High Since 2023. Could Gold Be Due to Rise Higher This Year?
Gold has been a safe haven in the past, and with its price falling recently, it may be due for a rally.
Inflation Hasn't Been This High Since 2023. Could Gold Be Due to Rise Higher This Year?
Overview
The price of gold has been falling this year, and as of Thursday, it was looking in danger of falling below $4,000. That's a steep decline from the heights of more than $5,000 it reached earlier in the year. Investors have been pivoting away from gold, even amid the ongoing war in Iran and economic uncertainty.
The SPDR Gold Shares (NYSEMKT: GLD) is an exchange-traded fund (ETF) that tracks the price of gold, and its 12-month gains now sit at just 22%, looking relatively modest compared with earlier in the year when all the hype was around precious metals. The ETF is now down 27% from its highs.
Details
Given the recent inflation numbers, however, could it be due for a rally?
Source
Originally published at www.fool.com.
