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Jared Dillian: Why Gold Is The Ultimate Diversifier

Jun 13, 2024, 5:22 pm BST

Yesterday the FOMC reminded us that whilst it may still cut rates this year, it’s in no hurry to do so right now. In the meantime, the gold price remains well supported as monetary policy diverges across the global marketplace – both the Bank of Canada and the ECB have begun to cut rates.

At the time of writing gold is at session-highs following worse-than-expected labour market data release in the US. Markets continue to play close attention to the US labour market, as it continues to weigh heavily on the FOMC’s monetary policy decisions. 

Analysts continue to ask “Where’s the smoking gun?” for this gold rally. Previous rallies have had a strong trigger, this time not so much. Instead there are multiple factors propelling gold forward. So even though we are now in a global interest rate cut cycle, the other factors supporting gold (wars, central bank purchases etc) remain. This means that when the Fed does finally commit to cutting rates we could see another surge in the gold price, as it’s a driver that will become even stronger. 

Earlier on today we welcomed a new guest onto the GoldCore TV. Jared Dillian is the editor of The Daily Dirtnap and author of the book No Worries: How to Live a Stress-Free Financial Life. A former ETF trader at Lehman Brothers, he now spends much of his time writing about how to allocate your portfolio so you can reduce your debt and your risk, and therefore your stress. 

It was great to speak to Jared. I would encourage you to listen out for our chat around his “Awesome Portfolio” as well as his explanation as to why Gold is The Ultimate Diversifier.

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