Gold hits record high as investors bet on weaker U.S. dollar in 2024
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Gold (GC=F) prices retreated late Monday morning after hitting a record high of $2,100. Investors are betting that the Federal Reserve will start cutting rates next year. Bloomberg Intelligence Senior Macro Strategist Mike McGlone says prices are trying to hold on to the $2,000 support, which used to be a price of resistance. McGlone believes that gold purchasing will remain high, noting “the deepest pockets on the planet are buying gold. That’s central banks.” Overall, McGlone believes gold “is in the early days of a bull market.” Watch the video to hear why McGlone says “this is not our fathers’ gold market.” #youtube #Gold #stockmarket Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb […]