- Gold has not been able to hold its gains above $2,000 an ounce; however, the world's latest asset management firm recommends investors consider a tactical allocation to the precious metal.
"Gold is having a moment; one we believe is likely to continue. The precious metal has risen over 8% so far in 2023, thanks to a combination of positive factors," the analysts said in the report."Gold fell from its May 3 high around $2050 per ounce amid expectations the U.S. would avoid missing the deadline to raise the debt ceiling. That said, the decline occurred after gold rallied nearly 30% from its 52-week low.
BlackRock said that it is likely that May will prove to be the last rate hike in this tightening cycle.
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