Gold at a five-year high

Gold’s rise to its highest price in more than five years showed central-bank policy changes “may be starting to have unintended consequences in asset markets,” according to Michael Shaoul, Marketfield Asset Management LLC’s chief executive officer. Gold for immediate delivery traded Thursday for as much as $1,394 an ounce, surpassing the high end of its trading range since October 2013, according to data compiled by Bloomberg. The precious metal rose after the Federal Reserve and the European Central Bank pointed toward interest-rate cuts.

** 4 years later  (Feb 2023) **