-The gold market is holding solid gains above $2,400 trading near session highs as consumer sentiment falls sharply and inflation expectations rise in April.Friday, the University of Michigan said its preliminary consumer sentiment index fell to 77.9, down from March’s upwardly revised reading of 79.4. The data significantly missed expectations as economists looked for sentiment to remain relatively stable at 79.
– As gold prices continue to hit record highs, experts at leading banks are updating their forecasts for the precious metal even as they try to determine where the price action is likely to head. - Another day, another all-time high for the gold price. Since the last week of March, Gold Futures have risen over $250 to move above $2400 as I type this column while trading up 11 of the past 13 Comex sessions.
– Policymakers have averted “a global recession and a period of stagflation” and brought inflation down considerably, but unmanageable debt loads and growing trade disputes continue to threaten growth, according to IMF Managing Director Kristalina Georgieva.Gold investors don’t care about higher opportunity costs as they hedge against fiscal excess – Invesco’s Kristina Hooper
- The gold market is not paying attention to U.S. inflation or U.S. interest rates as investors aren’t worried about opportunity costs in a world with unprecedented geopolitical and economic uncertainty, according to one market strategist.Thursday’s price action in the crypto market saw a decline in volatility as Bitcoin largely consolidated above $70,000 while altcoins traded mixed.
Young investors show a rising interest in cryptocurrencies as they have effectively been priced out of the real estate and stock markets, which are dominated by Boomer wealth.The gold price is up nearly 19% in this rally, but you haven’t seen anything yet - abrdn’s Robert Minter
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