Gold is up $13 early in the week after a spike to record highs and a nearly $100 reversal on Friday.Gold continued to heat up for most of last week but it ended it a concerning fashion as it spiked to $2430 only to fall as low as $2335. It's bounced today but generally looks to be consolidating after Friday's extreme volatility.ANZ Reserach expects gold to trade near $2500 at the end of 2024. That follows Goldman Sachs on Friday boosting its call to $2700.Notably, ANZ sees silver outperforming and rising to $31/oz as retail traders play catch-up in a move that has been largely missed so far.I agree that retail hasn't participated, especially in the west. Much of the buy has been driven by As
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