Three associated forces are propelling gold towards a report value: financial considerations, decrease bond yields, and a weaker U.S. greenback. A lift in shopping for this yr by central banks has added gas to the rally. The tailwinds look prone to proceed.
The value of gold settled at $2,041.30 an oz. on Thursday, the second-highest worth in historical past and about half a share level under the August 2020 report of $2,069.40. The yellow metallic has gained 13% since late February, earlier than Silicon Valley Financial institution failed. Gold is up greater than 25% since November. Different valuable metals have rallied much more currently: The value of silver has surged practically 30% in a month.