In this video, we look at interest rates and why gold seems to be unaffected by them being higher for longer. When gold reached a new alltime high in December of 2023, the catalyst was a Fed board member commenting about future rate cuts. Since then, gold prices have set numerous new records in 2024. But as the odds of multiple rate cuts decreased, why didn’t gold prices follow suit? In fact, after the Fed’s meeting in June predicted just one rate cut in 2024, gold continued to soar and reached another alltime high just this week.

To understand the strong gold rally, we must look at other variables that affect gold prices. War, geopolitics, inflation, and central banks buying habits are just a few factors to consider. For example, the People’s Bank of China (PBOC) started buying massive amounts of gold after the U.S. imposed sanctions on Russia due to their invasion of Ukraine. The PBOC’s increased spending on gold has buoyed gold prices despite high interest rates in the United States. However, the PBOC has paused gold buying, and the prices continue to set new ceilings. So, what exactly is driving gold prices, and how high will they go? #apmex #gold #preciousmetals

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