From the FT: Gold’s weird rally – why bullion has soared to all time high

From the FT: Gold’s weird rally – why bullion has soared to all time high

Gold prices hit all-time highs, defying conventional explanations. While real rates are historically crucial…
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Gold prices hit all-time highs, defying conventional explanations. While real rates are historically crucial, recent declines in 10-year inflation-linked bond yields and a weaker US dollar contribute. Economic slowdown signs and better inflation news may be driving the shift. Additionally, geopolitical factors and a structural change in central bank demand for gold play roles. Despite these factors aligning, the potential for an explosive gold rally remains uncertain. Private equity's acquisition of insurance subsidiaries raises questions about stability, systemic risk, and the impact on the financial system's dynamics.

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By Robert Armstrong & Ethan Wu of The Financial Times

Why gold is at a record high

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