Surging inflation has pushed gold prices to near five-month highs, with Credit Suisse analysts predicting a more sustained move higher that could see the haven metal attempt a breakout beyond its $2,075 record high.
Spot gold prices rose sharply on Nov. 3, the day Fed policymakers capped a two-day meeting by saying they would start tapering their massive asset-buying program but broadly continue “accommodative financial conditions,” and again on Nov. 10, the day the Labor Department released data showing year-over-year inflation in October running at a near 31-year high.
