**Bank of America's 2024 Gold Analysis
The Keys to Understanding Gold in 2024
Housekeeping: This is a very good report that lays out the framework for the next legs higher in Gold. It was particularly inspiring and 900 words of analysis (both agreeing and disagreeing) were added. The format was changed slightly for easier reading. The original is also at bottom. ( Silver gets a separate, equally impressive analysis tomorrow)
Contents:
Why Gold Strength Despite High Rates?
What Effect Has the Israel-Hamas War Had?
Did the Runup in Back End Bond Yields Matter?
Oil at $150/bbl = Gold at $2,400/oz
[Headlines, Q&A Format, specific comments, and emphasis added by GoldFix]
Why Gold Strength Despite High Rates?
Answer: Perceived Direction of Rates Matters more than rates themselves.
Gold prices have held up against the backdrop of sharply higher US rates in recent weeks. Exhibit 219 highlights that a visible gap has opened up between the assets – a development market participants are increasingly picking up on.
