Central Banks Are Hoarding Gold for a Reason
Gold is holding near a record high, finding support despite optimism global trade tensions are easing.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
The world’s central banks are swapping dollars for gold. As the Federal Reserve is preparing to cut interest rates for the third time this year, the precious metal has emerged as the ultimate 'uncertainty hedge' in a world of rising risks for the greenback. The rally won’t stop until uncertainty diminishes.
A gold chart shows a distinct acceleration starting in 2022 in a quarter-century bull market. Let’s see why.