Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
- The gold market should continue to remain well supported at elevated levels even as the Federal Reserve is expected to maintain restrictive interest rates for the foreseeable future, according to one market strategist.
The comments come as chaos in the Middle East, generated by Israel's war with Hamas, pushed gold prices up roughly 9% from their seven-month lows. Milling-Stanley added that even as specific risk events fade, there is enough uncertainty in the world to maintain an overall bid in the marketplace through 2024.
Milling-Stanley added that along with geopolitical uncertainty, gold remains an attractive safe-haven asset against economic uncertainty. Milling-Stanley said that he expects gold could even withstand higher bond yields as the 10-year note is holding within striking distance of 5%.
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