Gold · Full chronicle and history

Spot gold price rises back to $4,047/oz.

On October 30, spot gold prices plummeted, while both the 10-year TIPS real yield and the US Dollar Index recorded declines. The divergence between macro factors and gold price trends reflects a sell-off triggered by a drying up of underlying liquidity in the money market.

On July 8, Bank of America cut its full-year average price to $4,360 and predicted that the Federal Reserve would raise interest rates three consecutive times in the second half of the year.

JPMorgan cut its gold target price to 4300 on July 3.

Goldman Sachs released a research report stating that gold would continue to fall due to interest rate hikes, but SEC filings from the same period show it secretly increased its holdings in gold ETFs.