Bloomberg’s Mike McGlone reports why he is ‘scared’ over the price of gold.
Spot gold smashed through $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally.
It’s a milestone for bullion, which traded below $2,000 just two years ago, with returns that now well outstrip those for equities this century. Gold has jumped more than 50% this year in the face of uncertainties over global trade, the Federal Reserve’s independence and US fiscal stability.
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