The big gold sell

David Llewellyn-Smith

Friday 11 October 2024

I have been on board with the gold rally given Fed rate cuts and geopolitical tensions but it’s gotten well overheated.

Now, macro factors are swinging against it as well. BCA with more:

On the face of it, a Fed that is behind the curve to stabilise prices should be good for the inflation hedge, gold.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.