Precious Metals and Mining Trust T.MMP.UN

Gold hits another record high on China stimulus blitz

[mouserman]

With China now launching economic defensive measures after the U.S. Federal Reserve shocked markets with a 50 basis point cut, there is a growing cohort of analysts warning that economic conditions may be worse than governments are letting on, which has helped boost the safe-haven standing of gold. 

 

The yellow metal hit a fresh record high above $2,640/oz overnight and looks poised to continue its ascent as global financial markets deteriorate in the face of rising geopolitical tensions and worsening economic conditions.