The total money supply in the United States, Eurozone, Japan, and China has reached a record $89.7 trillion, increasing by $7.3 trillion over the past year. The rise in global money supply is the largest in three years and is similar to the jump seen during the initial pandemic response. The increase in money supply is attributed to central banks restarting quantitative easing to reduce interest rates and increase the supply of money. As a result, the price of gold has had a strong performance this year, reaching $2,660, as geopolitical tensions rise. Additionally, Societe Generale has shifted its commodity allocation to gold, reflecting growing confidence in the metal as a safe-haven asset.



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