Aug 21, 2024 - Economy
Charted: Gold's historic milestone
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For the first time in history, a standard 400 troy ounce gold bar is worth more than $1 million.
Why it matters: Investors are rediscovering tried-and-tested risk assets, and gold is one of the primary beneficiaries.
- Gold has outperformed bitcoin over the past three months, for instance, and in turn bitcoin has outperformed ethereum.
The bottom line: The most recent bull-market rally is a sign that investors are risk-on — but they're not looking for particularly risky risk.
Go deeper: Gold boosted to new records as China beefs up reserves
