Everyone’s favorite precious metal is red hot this year, rising nearly 27% through Friday’s close (Sep. 23). Gold’s rally beats the strong runup in US stocks as well as rallies in the major asset classes, based on a set of ETFs.
Daily Archives: September 23, 2024
Macro Briefing: 23 September 2024
The House will vote on a new three-month stopgap funding bill to avoid a partial US government shutdown that would start Oct. 1 without Congressional action. Even if the bill is enacted, the short time frame set up another high-stakes battle just ahead of the holidays.
The latest escalation in the conflict between Israel and Lebanon’s Hezbollah raises the risk of an all-out war over the Lebanese-Israeli border. “With the region on the brink of an imminent catastrophe, it cannot be overstated enough: there is NO military solution that will make either side safer,” United Nations’ special coordinator for Lebanon, Jeanine Hennis-Plasschaert wrote on X yesterday.
Gold prices rose to a new record high on Friday, closing at $2646 an ounce:
