Quote:
In a report published last week, market analysts at Bank of America (BoA) noted that gold is the best-performing asset so far this year. With gold's push to record highs above $2,500 an ounce, the precious metal is up roughly 20% in 2024.
In comparison, Bank of America noted that cryptocurrencies have risen 17.7%, stocks have rallied 15.4%, the overall commodity sector is up only 1.9%, government bonds have increased by 0.6%, and the U.S. dollar has gained 0.2% year-to-date.
Gold prices are even outperforming the tech sector, with the Nasdaq Composite Index up 17%.
Although investors have largely shunned the precious metals market, Bank of America noted that gold has seen the largest inflows in four weeks. The latest trade data from the Commodity Futures Trading Commission showed speculative positioning at a four-year high.
Gold's rally to record highs has been driven by record demand from central banks in the first half of this year.
The BoA analysts said that investors should be taking their lead from central bankers.
https://www.kitco.com/news/article/2024-08-26/do-what-central-banks-are-doing-buy-gold-bank-america
All that money printing is going to catch up with us at some point. Gold is sending a signal, are you paying attention?
Fiat (fantasy digits on a screen) vs. physical reality. What do you have in your possession?