Gold Edges Towards $4,000 as Macroeconomic Tailwinds Converge
The start of this week saw the price of gold surge to new highs when it hit $3,958 an ounce. This makes its gain since the year began higher than 50%, its steepest annual climb since the oil shocks experienced in the 70s. Wholesale bullion for European and UK investors also surged to €3387 and £2942 respectively, representing 2.5% and 2% increases. Gold priced in Japanese Yen also jumped to a new high of ¥19,078 a gram, driving the retail price above ¥21,000 for the first time. These changes come as political instability in the United States, France and Japan…