"Gold is having its best year since 1979. Gold futures traded in New York have soared almost 71% this year, on pace for their best annual gain in 46 years. The last time gold had such a strong year, Jimmy Carter was president, a crisis was unfolding in the Middle East, inflation was soaring and the United States was in the midst of an energy crisis."
"In times of uncertainty, investors turn to safe havens like gold. Gold is considered a resilient investment, with investors expecting the yellow metal will retain its value in crisis, if inflation surges, or if currencies drop in value. Uncertainty remains a defining feature of the global economy, said Joe Cavatoni, senior market strategist at the World Gold Council. In this environment, gold has become increasingly appealing as a strategic diversifier and a source of stability."
Gold futures traded in New York have climbed almost 71% year-to-date, marking the strongest annual gain since 1979. Geopolitical tensions, tariffs, energy disputes and global uncertainty have driven investor demand for gold as a safe-haven and strategic diversifier. Expectations of Federal Reserve rate cuts have reduced bond yields, increasing gold's relative appeal despite the metal not paying income. A weaker US dollar has made gold more affordable for overseas buyers. Prices moved from about $2,640 a troy ounce at the start of the year to above $4,500 a troy ounce, with analysts forecasting further gains through 2026. Jewelers and owners of gold jewelry have benefited from higher prices.
Read at www.mercurynews.com
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