welcome back to our weekly update I'm charot cloud with investing news.com and I'm here to give you a quick look at the liing stories I found most interesting this week it was another record-breaking week for Gold with the yal surging pass 2400 per ounce for the first time ever some Market Watchers are pointing to Safe Haven demand as the reason for the surge as tensions rise in the Middle East other experts think there are less obvious factors at play a few that I heard mentioned are at AC ity in the


options market and comx net managed money but in many cases I'm seeing the suggestion that we just don't know what's happening yet it's worth noting that gold's price surge comes after the latest us Consumer Price Index data the April 10th report shows inflation came in hotter than expected clocking in at 3.5% in March that's up from 3.2% the previous month core CPI which excludes the volatile food and energy segments stayed flat at 3.8% the US Federal Reserve has consistently said it wants to see


inflation under control before it begins cutting interest rates and with its 2% Target not getting any closer there's speculation that the central bank will keep delaying its turnaround gold fares better when rates are lower and it's interesting to see such strength while they're high even so I'm seeing a lot of questions about whether gold's price move is real and this week I asked GIS Solway of verified investing.com for his perspective he sees 2500 as a lock for gold in 2024 and said the yellow metal


could even run rise as high as 3,000 in the next 12 to 18 months however Gareth emphasized that he expects the price to go lower before that he mentioned 2075 as a level to watch and said that at this point pullbacks are buying opportunities for Kim I also heard from private investor Don Hansen who is a favorite for our audience Don got in touch and was Keen to share his research on the relationship between the gold priz and US money supply by looking at historical data from two previous bull markets he showed gold still appears to


have quite a bit of room to runting I'll leave the links to the interviews with Gareth and Dawn in the video description and please leave a comment below to let me know who else you'd like to hear from about gold or any other topic I'll do my best to get them on we've talked about copper for the last couple of weeks and the red metal continues to make heades this week it was training around levels not seen since early 2023 and although the CPR release weigh on prices a little copper


is up solidly since January large investment firms are a taking note Alice at City Group said copper has entered its second secular bll Market this Century while Bank of America has raised his 2024 price target for the base medal to just over 9300 per metric ton Copper's rally is being driven by increasingly tight Supply and strong demand finally I want to talk briefly about a development in the rare earth sector Hancock prospecting which is run by Australian billionaire G Reinhardt was revealed to have acquired a 5.3%


Stak in US reare Earth producer Mt materials Hancock is focus mainly on iron ore and began to diversify within the resource sector the company declined to comment on its connection to MP materials but Market Watchers have reportedly speculated that it may be buying worse shares MP materials is the second largest for Earth's producer outside of China I'll leave the links to these stories in the video description if you'd like to learn more that's all for this week if you like this video make sure you subscribe to


our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next time [Music]