Gold futures powered higher Tuesday, gathering momentum late in the session to finish at a fresh record as government bond yields headed lower and as the U.S. dollar’s recent rebound receded somewhat, allowing the precious metal to make an assault on a record close above the $2,000 threshold.
“When you’re looking at what [DXY, 10 year real yields] levels we would need to see gold at $2500 per ounce, it is combinations like the DXY at 90 and real rates at minus 2,” said Michael Widmer, metals strategist in comments included in an Aug. 3 research note, citing a July 30 call with clients featuring Widmer and commodity research analyst Francisco Blanch.
On Tuesday, December gold GCZ20, +2.55% GC00, +2.55% rose $34.70, or 1.7%, at $2,021 an ounce, after notching a less-than 0.1% gain on Monday and starting out with meager gains on Tuesday.
btc will lead the march
And how much of that value will be FOMO?
Now do how younger generations interest in gold have plummeted at alarming rates in this progressive digital age 😁
goldusdx Mere weeks ago: 'Why Gold All-Time High Will Have To Wait' You'll write anything.
twetchdat
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