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The Fed Alone Can’t Make Gold Sparkle in 2024

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The Fed Alone Can’t Make Gold Sparkle in 2024

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https://www.wsj.com/finance/commodities-futures/the-fed-alone-cant-make-gold-sparkle-in-2024-7c450d78

 1. Finance
    
    --------------------------------------------------------------------------------

 2. Commodities & Futures
    
    --------------------------------------------------------------------------------

 3. Heard on the Street


THE FED ALONE CAN’T MAKE GOLD SPARKLE IN 2024


THOUGH POTENTIAL INTEREST-RATE CUTS ARE A POSITIVE FOR THE PRECIOUS METAL, THIS
YEAR’S EXPERIENCE SHOWS THAT MANY OTHER FACTORS ARE AT PLAY

By

Jon Sindreu


Dec. 29, 2023 5:35 am ET

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Gold prices recently hit a fresh record high. PHOTO: Michael M. Santiago/Getty
Images

On the fifth day of Christmas my true love sent to me: five gold rings, which
turned out to be much more expensive than a year ago. The key investment
question is whether they will be worth even more by the time next Christmas
comes around.




New York gold futures traded around $2077 an ounce Friday, meaning that the
precious metal is up 14% year to date and is set to finish the year near the
record close of $2081.90 reached Wednesday. This snaps a two-year losing streak.

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