Why Are Stocks, Gold, and the Dollar Surging?
While gold prices rise due to heightened geopolitical uncertainty, the US stock market is breaking records, and global demand for the dollar remains robust. This can be attributed to growing confidence in the US economy, which continues to surprise on the upside.
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CAMBRIDGE – The US stock market has been on a tear over the past two years. The S&P 500 has increased by roughly 40% since President Joe Biden assumed office in January 2021 and, along with the Dow Jones and NASDAQ, is repeatedly setting new records. Moreover, the dollar has strengthened sharply against every major currency, while the price of gold surged to an all-time record of $2,470 an ounce earlier this month.