Gold hit a new record high price this week briefly touching US $2,203 per ounce. It’s like gold has been rallying in stealth mode – in a way that no one notices. One would think that if gold hit a new high, it would be in all the news. Gold has performed well despite high interest rates and a strong dollar. The “experts” are shocked and surprised by gold's upward move to new heights they didn't expect it. Several data releases recently from the US government indicated a weaker economy, reinforcing beliefs in the potential for Fed interest rate cuts coming this summer. There is no question that this rally seems to have caught many Western experts and forecasters by surprise – Its a stealth rally if you like which suggests to me the buying is happening beyond the immediate purview of most of those “experts.” Now while few are paying attention, is the time to invest in gold. Whether it is physical gold, ETFs., or mining stocks, a gold investment is well worth considering.
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