Who Is Behind Gold’s Wild Ride This Year?
In this Bloomberg Originals mini-documentary, we pull the curtain back on why that shiny metal keeps hitting record highs, and what it means for the future.
Gold prices have been on a rampage, hitting record after record since the beginning of the year. The conventional wisdom has always been that gold spikes when geopolitical tensions escalate or economic uncertainty spreads—the traditional bread and butter of gold bugs. The prospect of a US soft landing and lower interest rates have also added fuel to the sparkly fire.
But 2024’s gold rush is different from most in at least one key way. In the Bloomberg Originals mini-documentary Who Is Behind Gold’s Crazy Rise? we reveal that—along with conflicts like Russia’s war on Ukraine and the regional conflagration in the Middle East—something else has been driving gold prices this year.