Gold price rally fueled by non-traditional buyers
Gold’s surge to an all-time high is being fueled by an unlikely group of buyers in the form of pension funds, insurance companies and private wealth specialists. Spot prices have risen 29% so far this year and climbed to a record high of $1,980.55 an ounce earlier this week. Since then it has retreated slightly, trading at $1,960.18 an ounce as of 1:15 p.m. EDT on Wednesday. In the past, when bonds offered heftier yields, many professional investors had little use for gold. A broad...
read more