WSJ: Why Gold Rallied

But: "Investors, however, are divided about gold itself"- obviously

Housekeeping: Here is the latest story on Gold’s run to record highs on record volumes. No comments added¹. Some Technicals and UBS latest (very good) CTA report attached.

Look for our complete rundown of what happened from Friday to Monday in China physical markets as well as US Futures, later on today.

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WSJ: Why Gold Prices Are Hitting Records

Investors tend to go for gold when they are anxious. Gold gained more than 5% in the week after Hamas attacked Israel on Oct. 7.  Photo: Michael M. Santiago/Getty Images

Futures for delivery of gold in December settled at $2,071 a troy ounce Friday, topping their previous high of $2,051.50 an ounce hit in August 2020. Gold has advanced for seven of the past eight weeks, bringing its gain this year to 11%. That puts futures on track for their best annual performance since 2020, when Covid-19 crashed the economy and lifted the precious metal 24%. Futures fell 2.3% to $2,024.10 on Monday. 

Full story at the Wall Street Journal