Gold tops $3,500 for the first time ever as US stocks and dollar surge

Description

Gold has climbed above $3,500 per ounce for the first time, according to Bloomberg News, pushing yearly gains to 43% and tripling the growth of most major stock indexes. Prices have been moving upward since 2022, now standing 100% higher than three years ago. Analysts point to worsening government deficit spending, ongoing inflation, and a weakening labor market as the backdrop for the rally. US stock futures were slightly higher Thursday night after the Dow Jones Industrial Average recorded its...