The recent surge in gold prices, described by Barclays as "one for the history books" and excessive, has climbed from $2,000 last month to above $2,150, leaving analysts, including @marcusashworth, puzzled. The rally, termed as "the quietest, most confusing" by observers, seems to have been driven by momentum traders, particularly computer funds that follow rising prices, despite "no factors" being identified behind last week's move. Some commentators, however, argue that the rally appears rationally exuberant.
Gold's record-setting pace looks exuberantly rational, @marcusashworth writes https://t.co/rlPH6FsX4w via @opinion
Gold's record-setting pace looks exuberantly rational, @marcusashworth writes https://t.co/N65sU6KkqA
“It has been the quietest, most confusing [gold] rally. What took it from $2,000 [last month] to above $2,150 is the head-scratching part.” "No factors were behind last week’s move, it was momentum traders — computer funds that latch on to rising prices — piling in after gold…
Gold’s mystery rally baffles analysts https://t.co/FRzztyAvFs https://t.co/I6o3PoPrf2
Gold's recent run is one for the history books and has gotten out of hand, Barclays says https://t.co/s3WkLJZH1Z