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.
The stock market decline and rising investor concerns about a potential US recession are driving demand for gold. Additionally, global economic instability is enhancing gold's appeal as a safe-haven asset, according to Kitco News.
ANZ Financial Group has raised its gold price forecast to $3,100 per ounce for the zero-to-three-month period and to $3,200 per ounce for the up to six-month period. The organization maintains a bullish outlook on gold, driven by rising geopolitical instability.
Some of the largest global banks, including Bank of America, Citigroup and Macquarie, remain optimistic about gold, with its price exceeding $3,000 per ounce.
Gold prices surged to a record high for the second time in a week on Tuesday, rising above $3,013. As reported by Reuters, uneasiness sparked by President Donald Trump’s tariff policy continued to fuel demand for safe-haven assets.
Gold surpassed the $3,000 per ounce level for the first time ever during trading on Friday, confirming its role as a safe haven amid global uncertainty.
Strategists at RBC Global Mining Equities have increased their projections for gold prices, expecting a more active growth in the cost of the yellow metal in the coming years. Experts now expect the average gold price to reach $2,844 per ounce in 2025.
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.
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.