Gold may fall below $4000 after recent highs, Mike Bird notes

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5 hours ago

Gold may fall below $4000 after recent highs, Mike Bird notes — Gold nears $4000 after recent surge

Mike Bird, reporter at The Wall Street Journal, observes that gold is approaching the $4000 mark, after having reached over $5,300 earlier in 2024.

He describes gold as 'analogue bitcoin' and remarks on the volatility seen in its price this year.

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Earlier in 2024, Bird reported that central bank accumulation drove the surge in gold prices, though he warned that official reserve moves remain difficult to predict. In a separate analysis, he noted that S&P earnings forecasts point to a strong U.S. economic recovery following a deep recession. These developments continue to shape market sentiment alongside the recent swings in gold.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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