, Columnist
The Fed Isn’t Gonna Carry That Weight for Gold
A sustained rally above $2,100 would need rate cuts. But there are increasingly sound reasons why they might not happen
Testing $2,100, again.
Photographer: Chalinee Thirasupa/BloombergThis article is for subscribers only.
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Gold’s performance this year has been the palest of echoes of its store-of-value cousin, Bitcoin. The digital asset has removed gold’s shine by climbing more than 40% since Bitcoin exchange-traded funds launched amid much hype in January. Not just that, their inflows appear to have come at the expense of gold ETFs, which have had net outflows.