BlackRock's Olivia Markham: Gold fever

Still a safe haven

The gold price has been rising, fuelled by a weaker dollar and rising geopolitical tensions.

The gold price tipped over $2000 an ounce in April, matching its highest level ever. The last time gold reached these levels was during the pandemic, when the global economy appeared on the verge of collapse. This time, the world does not appear as fragile, so what explains the recent run for the gold price? And can it be sustained? Until October of last year, the strong US dollar had acted as a brake on gold prices. UK inflation continues sharp descent to 6.8% in July The Federal Reserve was the first of the developed markets to raise rates, which supported the US currency. ...