2024 Economic Preview: What Expected Rate Cuts Amid Gold’s Rise Might Mean
Published on January 3, 2024
Interest rate cuts are widely expected in 2024 as the war on inflation appears almost won and continual calls for a recession that kept getting postponed finally land. Against that backdrop, all three major U.S. stock indexes posted double-digit gains in 2023, with most of those gains coming in November and December. Canadian stocks ended 2023 solidly in the green and bonds also posted gains. But gold surged in the fourth quarter and that typically serves as a reminder that a lot of uncertainty is still out there. Deutsche Bank noted that gold returned 13 percent over the two-year period from 2022 to 2023—the second-highest return among a wide range of 29 financial assets including the S&P 500 and U.S. Treasurys....