Why All That Glitters Is Gold
By Philip Lawlor, head of Global Investment Research
The record-breaking surge in the price of gold has been the standout market theme of the past month. As shown below, gold has rocketed past its 200-day moving average to nearly $2,000 a troy ounce, piercing the previous all-time high of September 2011-and outstripping even this year’s gains in high-flying US technology stocks. The sources of the precious metal’s newfound strength can be mined for useful insights.
Gold price and 200-day movin…