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Gold hovering near record levels: Here's what you need to know
  + stars: | 2024-05-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold hovering near record levels: Here's what you need to knowChris Mancini, Gabelli Gold Fund associate portfolio manager, and Bob Parker, senior advisor at International Capital Markets Association, join CNBC's 'The Exchange' to debate the bear and bull case for gold.
Persons: Chris Mancini, Bob Parker, CNBC's Organizations: International Capital Markets Association
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold rally driven by central banks and high-net worth buyers, says Gabelli's Chris ManciniChris Mancini, Gabelli Gold Fund associate portfolio manager, joins 'Power Lunch' to discuss what's driving the price of gold higher, who is buying gold, and what the demand for gold says about investors.
Persons: Gabelli's Chris Mancini Chris Mancini
Gold, typically seen as a haven in periods of economic turmoil, especially as a hedge against inflation, has risen sharply in price over the past month, even as the outlook for the economy has improved and inflation, although still elevated, is well below recent highs. The precious metal has set a series of record highs as it surged roughly $300, to $2,350 per troy ounce, since the start of March. The move has been attributed, at least in part, to a burst of gold buying from central banks around the world, including China. But investors said that central bank purchases did not fully explain such a sudden price increase. “It’s perplexing to anybody in the gold market,” said Chris Mancini, a gold portfolio manager at Gabelli Funds.
Persons: , Chris Mancini Organizations: Gabelli Funds Locations: China
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