Gold breaches $4,200/oz as inflation fears fuel rally
Spot gold surged above $4,200 per ounce, reaching its highest level since June 22, as investors sought refuge amid persistent inflation and economic uncertainty.
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Spot gold prices rallied above $4,200 per ounce on Wednesday, marking the highest level since June 22. The milestone reflects sustained buying pressure in precious metals as investors grapple with elevated inflation and broad macro uncertainty.
The move extends a broader uptrend for gold, which has benefitted from a flight to safety amid persistent price pressures and geopolitical risks. Silver and other precious metals also advanced, echoing the strength in the sector.
Source: The Kobeissi Letter