Gold still glitters … and Cinderella is having a ball
Gold might be defying gravity and forcing bankers to rewrite their theories, but its poor cousin, silver, is experiencing an even more dramatic price rise
31 October 2024 - 05:00
It’s not often the head strategist at an organisation that promotes gold urges investors to be cautious about the metal. But that’s what John Reade of the World Gold Council (WGC) did. Speaking at the FT Mining Summit on September 26 he warned that getting into gold at the price at the time — about $2,600/oz — might be ill-advised.
“By the time investors realise gold is going up, it’s gone up as much as it’s going to,” said Reade. “Be careful of taking short-term action because if the world doesn’t end, gold will weaken. And if the world does end, we have more important things to think about.”..
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