Gold has surged past $4400 an ounce for the first time, driven by a decisive shift in global investor positioning. This move comes from a steady repricing of risk as expectations around interest rates, currency strength, and central bank behaviour evolve.
Throughout December, markets have leaned further into the view that US rate cuts are no longer a question of if, but when. That has pulled real yields lower, making non-yielding assets like gold more attractive again. The dollar’s gradual decline has reinforced that trend, reducing the cost of bullion for international buyers and encouraging asset managers to rotate into hard currency alternatives
Central banks have continued buying at pace, particularly in emerging markets where demand for dollar alternatives remains strong. Meanwhile, large institutions are treating gold as a proactive allocation decision in response to monetary easing and fiscal expansion. These long-term flows are helping to support higher price levels even as headline risk fades into the background.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.
