An increase of the indicator value may contribute to the rise in quotes of USD and the fall in quotes of Silver, Gold.
An increase of the indicator value may contribute to the rise in quotes of USD and the fall in quotes of Silver, Gold.
UBS Group AG revised its gold price forecast higher, expecting prices to rise to $3,200 per ounce. The forecast is based on the intensifying tensions in global trade, causing stronger demand for safe haven assets.
15 analysts participated in the last week’s Kitco News poll on the outlook for gold price. Nine of them expect the precious metal to rise this week. Three analysts predict a decline, while the remaining respondents forecast a consolidation.
On Monday, gold is trading below the record level of $3004.91 reached at the end of last week, but still holding high. The metal's price is supported by geopolitical tensions, concerns regarding tariffs, and hopes of a Federal Reserve (Fed) interest rate cut.
A decrease of the indicator value may contribute to the fall in quotes of Gold.
Uncertainty in the global economy and Trump's tariff plans caused a big sell-off in the US stock market. BNP Paribas strategists believe these factors are likely to push gold prices higher over the next while.
Gold hit a record high of $2,993.87 during Friday’s morning session. The market rally has been driven by uncertainty over US tariffs, trade tensions and expectations of Federal Reserve monetary easing.
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.
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.