Bank of America: Investors buy large amounts of gold before the US election

Odaily Planet Daily News: Michael Hartnett, a strategist at Bank of America, said that investors continue to buy large amounts of gold before the US election to hedge against the possibility of inflation rebounding. Gold prices hit a historic high on Wednesday, with gold funds recording their largest weekly inflow since July 2020. Prior to the November 5th election, other recent popular trades, such as selling bonds and buying artificial intelligence stocks, maintained momentum. This week, the yield of US 10-year treasury bond bonds once exceeded 4.2%, the highest level since July last year, and Nvidia's share price also hit a record high. Gold trading is part of a broader strategy for investors to allocate investment portfolios in the event that Trump may win the election. The US dollar also rebounded due to investors betting that a Republican candidate's victory would trigger a rebound in inflation and an increase in budget deficits. (Golden Ten)