In its latest survey of fund managers, Bank of America Merrill Lynch points out that the proportion of fund managers expecting a global recession in the next 12 months was at its highest since 2011. Last week, the US yield curve inverted, setting the stage for the yellow metal to shine even brighter.
Inverted yield
Desire for Gold is the most Universal and Deeply Rooted Commercial Instinct of the Human Race
The desire for gold is the most universal and deeply rooted commercial instinct of the human race,” said renowned Wall Street trader Gerald M. Loeb. In times of uncertainty, this instinct gets even more pronounced.