Gold Hits an All-Time High. It’s Beating the S&P 500.

Author: Jack Denton
Source: Barron’s

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Gold prices advanced further into record territory on Monday as the precious metal continued to find support at the start of what could be a busy week for bullion.

Front-month futures for gold gained 1.7% to $2,255 per troy ounce, with the yellow metal trading as high as $2,264, a record level. Including this latest rally, gold prices have risen more than 9% so far this year. The end of March capped the best two-quarter stretch for the metal in eight years.

Gold’s rally is “supported by direct purchases from central banks diversifying their reserves, hopes that cooling inflation will pave the way for lower interest rates, and persistent retail demand from Chinese investors searching for a hedge,” said Marios Hadjikyriacos, an analyst at broker XM.

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