Macquarie Warns: Gold’s Peak Is In – Time to Diversify?
Gold's rally hits a wall as Macquarie declares the top is in. Is the 'barbarous relic' finally out of steam—or just taking a breather before the next inflation panic?
The Death Cross for Gold Bugs?
After a parabolic run, the yellow metal faces its reckoning. Central bank hawkishness and Bitcoin's resurgence as 'digital gold' leave traditional safe-havens looking... well, archaic.
Traders Flock to Shiny New Toys
With spot ETFs bleeding and miners underperforming, even boomer investors are eyeing crypto's 24/7 markets. Gold's 5,000-year store of value narrative now competes with apes yelling about Satoshi's vision on TikTok.
The Cynic's Take
Of course Wall Street declares gold dead right as retail piles in—just in time for banks to quietly reload their COMEX positions at a discount. How... convenient.
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“With global growth beginning to rebound, central bank easing cycles NEAR an end, real interest rates still relatively high and tensions between the US and China easing (at least for now), we suspect the near-term peak is in, with prices likely to fall over the coming year,” said Macquarie chief economist Ric Deverell in a note.
Macquarie Warns of Gradual Gold Drop Despite Fed Cutting Cycle
Macquarie added that prices could climb if geopolitical tensions rise and that it expects gold to remain above $2,000 per troy ounce for the duration of President Trump’s term. The investment firm also expects a gradual decline in price instead of a sudden drop.
Macquarie’s warning comes despite the Fed being likely to cut rates by another 25 bps in December, a MOVE that typically supports gold prices.
