Gold soars against all expectations: buying frenzy in the East or redux of the 1970s? Billionaire investor David Einhorn thinks there is a 'secular trend'
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Gold has has been on A outstanding increase In 2024, reach save peaks. THE overvoltage East assigned has A combination of factors, including THE dedollarization orient yourself, central bank purchase, And increase request Since THE Is.
What Arrived: THE price of gold has has been booming, despite THE macro environment, which was expected has create challenges For THE precious metal. Billionaire investor David Einhorn suggested A "secular orient yourself" of East countries purchase gold Since THE West as A possible explanation For THE overvoltage, reported Business Insider.
"Maybe THE West East running out of gold he East willing has sell, while East request has stayed strong enough has force THE price upper," he said.
China, THE second biggest economy worldwide, has has been particularly active In This orient yourself, increasing It is gold reserves by 16% on THE pass 17 month. Other countries, such as India And Singapore, to have Also has been storage gold has hedge against global economic turbulence. This increase request has led up THE price of gold.
Ed Yardéni, A estimated walk expert, foresees THE possibility of gold reach $3,500 In THE Future year, indicating A potential 50% increase. He compared Today inflation patterns has those of THE 1970s Great Inflation time, involving that similar terms could to drive gold has unprecedented levels.
See Also: Investors Mix Action Positions In Dawn Cannabis: Beyond Earnings, Liquidity Regards Attractive
For what He Imported: THE overvoltage In gold prices East not A isolated event. Earlier In April, Einhorn, THE founder of Green light Capital, revealed that he was loading up on gold as A hedge against potential inflation. This move align with her recent theory on THE overvoltage In gold price.
In the meantime, economist Rock Schiff has warned against stack In risk assets as technology actions And Bitcoin in the middle of inflation concerns, advocating For gold as A safer investment.
In the same way, billionaire investor Ray Dalio has has been collage with gold as A hedge against inflation, quoting historical And logic the reasons For her position.
Price Action: Gold prices experimented A light decline, closing has $2,328.94, down 0.39% Since THE previous session close of $2,337.97. On THE pass 52 weeks, gold has fluctuated between A weak of $1,810.75 And A high of $2,431.02, with THE current price regulation close THE medium of This range has $2,328.94, according to has THE data Benzinga Pro.
Read Following: Intel 'Always A Work In Progress' As 'Turn around Efforts Take Root,' Analysts Say After T1 Disappointment
Picture Via Shutterstock
Designed by Benzinga Neuro, Edited by
Gold has has been on A outstanding increase In 2024, reach save peaks. THE overvoltage East assigned has A combination of factors, including THE dedollarization orient yourself, central bank purchase, And increase request Since THE Is.
What Arrived: THE price of gold has has been booming, despite THE macro environment, which was expected has create challenges For THE precious metal. Billionaire investor David Einhorn suggested A "secular orient yourself" of East countries purchase gold Since THE West as A possible explanation For THE overvoltage, reported Business Insider.
"Maybe THE West East running out of gold he East willing has sell, while East request has stayed strong enough has force THE price upper," he said.
China, THE second biggest economy worldwide, has has been particularly active In This orient yourself, increasing It is gold reserves by 16% on THE pass 17 month. Other countries, such as India And Singapore, to have Also has been storage gold has hedge against global economic turbulence. This increase request has led up THE price of gold.
Ed Yardéni, A estimated walk expert, foresees THE possibility of gold reach $3,500 In THE Future year, indicating A potential 50% increase. He compared Today inflation patterns has those of THE 1970s Great Inflation time, involving that similar terms could to drive gold has unprecedented levels.
See Also: Investors Mix Action Positions In Dawn Cannabis: Beyond Earnings, Liquidity Regards Attractive
For what He Imported: THE overvoltage In gold prices East not A isolated event. Earlier In April, Einhorn, THE founder of Green light Capital, revealed that he was loading up on gold as A hedge against potential inflation. This move align with her recent theory on THE overvoltage In gold price.
In the meantime, economist Rock Schiff has warned against stack In risk assets as technology actions And Bitcoin in the middle of inflation concerns, advocating For gold as A safer investment.
In the same way, billionaire investor Ray Dalio has has been collage with gold as A hedge against inflation, quoting historical And logic the reasons For her position.
Price Action: Gold prices experimented A light decline, closing has $2,328.94, down 0.39% Since THE previous session close of $2,337.97. On THE pass 52 weeks, gold has fluctuated between A weak of $1,810.75 And A high of $2,431.02, with THE current price regulation close THE medium of This range has $2,328.94, according to has THE data Benzinga Pro.
Read Following: Intel 'Always A Work In Progress' As 'Turn around Efforts Take Root,' Analysts Say After T1 Disappointment
Picture Via Shutterstock
Designed by Benzinga Neuro, Edited by
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