George Milling-Stanley, the main gold strategist in State Street Global Advisors, says Gold’s 40% in the last 12 months still has legs. Here’s why.
Gold prices are unlikely to lose its splendor, even after 40%plus in the last 12 months.
AND SPDR gold shares or gld, The largest fund traded on the stock market supported by physical gold, the largest one -day influx of ever of $ 1.9 billion on February 21, 2024.
“We believe that demand is all over. We see that institutions add or establish long -term strategic assets distribution. We see that individual investors do the same. We see a certain amount of food. There is a fear of missing whenever the price gets the importance that “George Milling-Stanley, the main golden strategist in State Street Global Advisors, be told about Fox Business.
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“We continued to buy a very strong Central Bank for the Official Reserve. This is a feature of the last 15 years on the gold market, and it was very important, in the range of 10% to 25% of the total demand of the end user in any year. And I think it is very important to support whenever any signature is shown, Milling-Stanley explained. “The purchase of a central bank was basically doubled 2022. In more than 1000 metric tons,” he added.
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“In addition, we have seen a great increase in the emergence market investment, and especially in China, but in India and elsewhere over the last year, a year and a half, at the end of last year, which joined the great increase in demand on the emergence market, again in the emerging markets,” he added. “We have seen the revival of investment in gold in the Western world, in Western Europe and North America, I think it is mostly because of Concern about the prospect of the US economy And for European economies, on that regard. ”
Gold prices (Trading economy)
Gold withdrawn from a record $ 2,947 to the Unaca; Yet Mling-Stanley forecasts a yellow metal that could trade between $ 2,900 to $ 3,100 later this year.
Inflation remains savage. Consumer prices index increased by 3%in January, more than expected. Prices remain elevated to objects such as eggs, beef and transportation.
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On Friday, Federal Reserve Inflation of Federal Reserve Inflation It increased in January, on an annual basis, 2.5%, with basic PCE by 2.5%. Both were in line with the expectations of analysts.
