Ima in Barron’s: Yes, Gold Prices Can Keep Rallying
April 24, 2024
Read Time 1 MIN
John Maynard Keynes famously critiqued the gold standard as a "barbarous relic," yet recent trends in the gold market might suggest otherwise. Gold has hit all-time highs—and its investment demand hasn’t even reached peak levels yet, according to Portfolio Manager Ima Casanova. Despite the Federal Reserve's interest rate hikes (usually detrimental to gold), the price of gold has risen by 15% in 2024, reaching $2,409 per ounce.
What’s driving the rally? Massive purchases by emerging market central banks (particularly China, India and Turkey) are helping sustain gold prices even as more traditional drivers of demand have lagged. Looking forward, gold is well positioned to continue its rally, especially if Western investors begin to return to the market. The anticipation of rate cuts by the Federal Reserve, along with continued inflationary pressures and geopolitical risks, are likely to further bolster gold's appeal as a hedge against market volatility.
Read the full article for more on Ima’s bullish outlook on gold and mining stocks as well as her views on how investors should approach allocating to gold—both bullion and equities.
Read Barron's Q&A: Gold Prices Can Keep Rallying, This Investing Pro Says. Here Are Her Picks.
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IMPORTANT DISCLOSURES
Please note that VanEck may offer investments products that invest in the asset class(es) or industries included in this communication.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.
Investments in commodities can be very volatile and direct investment in these markets can be very risky, especially for inexperienced investors.
All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance.
© Van Eck Associates Corporation.