{"id":11038,"date":"2023-12-02T20:45:20","date_gmt":"2023-12-02T20:45:20","guid":{"rendered":"https:\/\/connectwithfund.com\/news\/case-for-gold-fever-newedge-wealth-sees-record-rush-intensifying\/"},"modified":"2023-12-02T20:45:21","modified_gmt":"2023-12-02T20:45:21","slug":"case-for-gold-fever-newedge-wealth-sees-record-rush-intensifying","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=11038","title":{"rendered":"Case for gold fever: NewEdge Wealth sees record rush intensifying"},"content":{"rendered":"<div id=\"NewsShowArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"NewsShowArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107340320\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107340320\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000324021\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"><\/span><span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The record gold rush may intensify into year-end.<\/p>\n<p>According to NewEdge Wealth&#8217;s Ben Emons, the final month of the year typically creates a bigger appetite for the yellow metal.<\/p>\n<p>&#8220;It&#8217;s been very consistent every December. It&#8217;s been a pretty strong performance for gold \u2014 especially when there is a rally in the stock market in November,&#8221; the firm&#8217;s head of fixed income told CNBC&#8217;s &#8220;Fast Money&#8221; on Tuesday.<\/p>\n<p>Gold settled at a new record high Friday. It closed the day up almost 2%, at $2,089.70 an ounce.<\/p>\n<p>Emons listed the economic backdrop and geopolitical backdrop as additional positive catalysts for <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"NewsShowArticle-QuoteInBody-2\">gold<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>.<\/p>\n<p>&#8220;There&#8217;s uncertainty next year. We have an election. We don&#8217;t know what&#8217;s going to happen. We get a recession maybe, maybe not,&#8221; said Emons. &#8220;At the same time, gold rallies when there&#8217;s this risk-on feel in the markets, and that&#8217;s really when real rates and interest rates are declining. This gives the gold a really good push for the breakout.&#8221;<\/p>\n<p>In a note to clients this week, Emons wrote that months for both gold and stocks are a &#8220;rare combo.&#8221; Gold gained 3% while the <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"NewsShowArticle-QuoteInBody-3\">Dow<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"NewsShowArticle-QuoteInBody-4\">S&amp;P 500<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> were both up almost 9% in November.<\/p>\n<p>&#8220;[It] tends to occur when markets price in major easing cycles,&#8221; he wrote. &#8220;Currently, that is going on in a mild manner, which puts the spotlight on the seasonals of gold.&#8221;<\/p>\n<p>Emons suggests the strength will continue into next year.<\/p>\n<p>&#8220;Central banks are again outbidding gold against dwindling supply, likely setting up the metal for a major breakthrough towards 2100 &#8230; lifting boats for laggards like <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"NewsShowArticle-QuoteInBody-5\">utilities<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> have a shot to claim market leadership by early 2024,&#8221; Emons also wrote.<\/p>\n<p>&#8220;Fast Money&#8221; trader Guy Adami also sees gold shining due to the <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"NewsShowArticle-QuoteInBody-6\">dollar<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>&#8216;s recent performance.<\/p>\n<p>&#8220;If rates continue to go lower, the dollar will go lower. That will be a tailwind for gold,&#8221; he said. &#8220;Gold is within a whisper of having a huge breakout to the upside.&#8221;<\/p>\n<p>As of Friday&#8217;s close, gold is up more than 14% so far this year.<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/12\/02\/case-for-gold-fever-newedge-wealth-sees-record-rush-intensifying-.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The record gold rush may intensify into year-end. According to NewEdge Wealth&#8217;s Ben Emons, the final month of the year typically creates a bigger appetite for the yellow metal. &#8220;It&#8217;s been very consistent every December. It&#8217;s been a pretty strong performance for gold \u2014 especially when there is a rally in the stock market in November,&#8221; the firm&#8217;s head of fixed income told CNBC&#8217;s &#8220;Fast Money&#8221; on Tuesday. Gold settled at a new record high Friday. It closed the day up almost 2%, at $2,089.70 an ounce. Emons listed the economic backdrop and geopolitical backdrop as additional positive catalysts for<\/p>\n","protected":false},"author":1,"featured_media":11039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-11038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Case for gold fever: NewEdge Wealth sees record rush intensifying | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"The record gold rush may intensify into year-end.According to NewEdge Wealth&#039;s Ben Emons, the final month of the year typically creates a bigger appetite\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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