While demand is collapsing for growth commodities, there's no collapse in demand for gold. There are pockets of weakness in the jewelry sector, but there’s much more strength elsewhere.
Canaccord shows that past Federal Reserve easing cycles over the last 20+ years have corresponded with higher gold prices, and they expect gold to set new record highs in 2024.
For the second consecutive week gold prices fell. We are now down over $100 from the all-time high set just seven days ago. We are holding above recent lows down near $2,300.
