Gold almost reached record levels after the Fed’s decision.
(Photo: imago images/Newscast)
Frankfurt The US Federal Reserve has hiked interest rates nine times in just over a year. This pace is historically unprecedented and actually bodes well for gold. The precious metal does not yield any interest, so high interest rates usually weigh on the price of gold. But currently it is different.
In the past 20 trading days, the price of gold rose above the $2,000 mark 18 times. There has never been a series like this, so far excursions through this brand have only been short-lived. Although there has not yet been a new record high, last Thursday it was only a few cents short of the high of $2072.50 from August 2020.
The question for investors is how to classify these developments. To answer that, you should consider the following factors.
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Further