Commodity markets perplexed why gold keeps going up
Alex GluyasMarkets reporter
Gold’s record-breaking rally is confounding the world’s top commodity analysts and fund managers as the precious metal defies traditional price drivers to make history this year.
Prices have surged 20 per cent over the past two months to record highs above $US2400 ($3754) an ounce despite elevated real bond yields, which account for inflation, and a robust US dollar. Both of those have historically worked against gold’s favour.
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