12 March 2024
Gold’s recent rally has left some analysts puzzled, as the precious metal soared 7% in just over a week to achieve new record highs, surpassing the $2,195 per troy ounce mark. This surge has defied traditional market explanations, especially since it occurred amidst expectations of US interest rate cuts, which typically enhance the appeal of non-yielding assets like gold. Analysts like Nicky Shiels of MKS Pamp, describe the rally as “the quietest, most confusing” with the jump from $2,000 to over $2,150 being particularly baffling…