Investors are now turning back to gold as their key safe-haven asset, JPMorgan said in a report released Thursday. The bank noted that significant capital is moving out of Bitcoin into exchange-traded funds (ETFs) and precious metals derivatives.
Macquarie Group analysts forecast gold prices to rise to a record $3,500 per ounce in the third quarter. The average price this year, in their opinion, will amount to $3,150 per ounce. Such growth is expected due to the increasing investment demand for the metal as a safe asset.
An increase of the indicator value may contribute to the fall in quotes of Gold.
Gold prices rose on Thursday as continued uncertainty over tariffs boosted demand for safe-haven assets. The precious metal was also supported by lower-than-expected US inflation data, which bolstered expectations for interest rate cuts in the country.
The rally in gold is now going on despite the absence of traditional price drivers, says Ross Norman, Metals Daily's CEO. Norman considers the actions of a major undisclosed player to be the most convincing explanation.
A decrease of the indicator value may contribute to the rise in quotes of Silver, Gold and the fall in quotes of USD.
A decrease of the indicator value may contribute to the rise in quotes of Silver, Gold and the fall in quotes of USD.
Gold is not just glitter and beauty, but also a key asset in the financial sector.
Gold appears to be something more than just a metal. It is an indicator of economic stability and a tool for managing finances.
Staying up-to-date with the latest gold news is a key to successful management of your funds.
