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Stock impact report

Gold rush to endure through 2024 though $3,000 mark may prove elusive [Yahoo! Finance]

StoneX Group Inc. (SNEX) 
Company Research Source: Yahoo! Finance
in the second half of 2024 as the fundamental case for bullion remains firmly in place, though $3,000 per ounce looks just out of reach, traders and industry experts said. Investors have flocked in droves towards the precious metal, driven by expectations for monetary easing, geopolitical tension in Europe and the Middle East and - most notably - central bank purchases led by China. Spot gold is trading around $2,300 per ounce after hitting a record $2,449.89 on May 20, gaining more than 11% so far this year. "There are lots of reasons driving gold right now..., but one of the major factors is China," Ruth Crowell, CEO of the London Bullion Market Association, told Reuters on the sidelines of the Asia Pacific Precious Metals conference in Singapore. "Usually China and Japan have been budget shoppers, but given the state of the economy, real estate challenges and equity markets, gold is a safe choice... I think gold is going to be of interest for some time." Central banks acr Show less Read more
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