VanEck Switzerland AG

​​​​​​​ Gold High Remains In Reach

By Imaru Casanova, Portfolio Manager
Gold showed strength climbing to a new yearly high of $2,063 on May 4, a day after the U.S. Federal Reserve (Fed) took rates another 0.25% higher. However, the U.S. dollar gained strength and gold fell to close the month at $1,962.73.
Gold seems to be forming a new base around the $1,900 level, showing resilience despite a strong stock market and recent U.S. dollar strength. A Fed skip or a pause this year may be the next catalyst for gold, unlocking investment demand that drives gold higher.
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Gold Investing