Fear Over Government Debt May Sustain Gold Bull
Bank of America analysts think the yellow metal could hit $3,000 an ounce within 18 months.
Gold. It’s quite liquid.
Photographer: Stefan Wermuth/BloombergWelcome to Money Distilled. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.
It’s been quite an exciting year so far for gold. The price of the yellow metal is up about 12.9% in the year-to-date (in US dollars). That’s been eclipsed by silver at 24.5%, by the Nvidia-fuelled Nasdaq (19.4%) and S&P 500 (15.8%) and the Argentinian stock market (up a mere 49.5%), but otherwise, it’s a pretty decent showing for an inert lump of metal.