News

Gold spot prices have hit new highs since the beginning of this year, recently breaking through $2720 per ounce to continue setting new records. This price is far higher than the historical peaks in 2020 and 2011, which were $2000 and $1900 per ounce respectively. Michael Hartnett, Chief Investment Strategist at Bank of America, pointed out in his latest research report that the bull market in gold is being driven by policy and inflation: the 2020s are a decade of fiscal excess in the United States and globally, as well as a decade of technology, trade tariffs, and protectionism. The Federal Reserve is determined to cut real interest rates over the next few quarters, and investors only need to hedge against the threats of inflation and dollar depreciation. The strategist concluded that gold will surpass $3000 per ounce. As the world enters an era of loose monetary policy, Hartnett remains a staunch bull on gold. Despite the boost in risk sentiment from loose monetary policy, Hartnett believes that economic prospects still remain uncertain, and the market needs to be vigilant against inflation risks. Gold is the best hedge asset, especially against the 3D indicators: Debt, Deficit, and Debasement