Are Interest Rates Heading Towards Zero?

In this monthly letter we discuss the upcoming rate hike cycle, as well as record-breaking gold purchases by central banks which have driven gold to a new all-time high. With the possibility of a rate hike cycle in the near future, we think gold prices could rise even higher.

Highlights from our monthly letter | Elements September 2024

• During August, the gold price surged to $2,531 per troy ounce, reaching a new all-time high - again. It then dropped to $2,503, resulting in a total increase of 2.3%. Data as of 24-08-31.
• Central banks, including several from Europe, have made record gold purchases in the first two quarters of 2024, showing increased demand for gold.
• The letter discusses the history and influence of central banks, particularly the Federal Reserve and the Swedish Riksbank, illustrating their power in shaping monetary policy and financial stability.

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