Gold price rises over $ 3,000 an ounce for the first time in conditions of economic uncertainty
Georgeorje Miling-Stani, chief gold strategist in Global State Street Advisors, says 40% of Gold has still had legs over the past 12 months. Here’s why.
Gold broke 3,000 USD on the threshold of ounce prices for the first time on Friday, as investors sparked a rally in the safe shelter under the installation of economic uncertainty due to the president. Donald Trump Tatruf was.
Place Gold prices Hit all the time high of $ 3,004.86 earlier in a trade session on Friday, before retiring below $ 3,000 as traders made a profit.
The surge of Gold over the $ 3,000 historic milestone was led by “marked investors seeking a final means of safe shelter, given Trump’s starring on the stock markets,” said Tai Vaughan, an independent metal trader.
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Spot Gold prices have exceeded $ 3,000 at an ounce level for the first time on Friday. (Photo: Arne Dedert/DPA/AFP via Pictures of Getty/Getty)
Traditionally seen as a secure value store during geopolitical turmoil, gold has increased by almost 14% so far this year, water partly than concerns about the impact of the impact of Trump’s tariffs and retaliation by trading partners-which contributed to the recent sale of the stock market.
“Managers of money on the right means, especially in the West, needed a strong stock exchange and economic slowdown Afraid to go back to gold – and it’s happening now, “said Ole Hansen, head of the Saxo Bank’s Good Bank Strategy.
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Gold is traditionally regarded as a safe shelter for investors during economic and geopolitical turmoil. (Istock / iStock)
Gold prices are also intensified by the demand from central banks, with China increasing its reserves by the fourth direct month in February.
“Central banks continue to acquire gold at a record level in an attempt to diversify from the increasingly unstable US dollar,” Goldkor CEO David Russell said.
Expectations that Federal Reserve It will return to facilitating their money policy in the next few months also helped gold, as traders expect interest rates to continue in June, according to the CME Fedwatch tool.
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“There are good reasons why demand for investment is likely to remain stable… Increased geopolitical and geo-economic risk, higher inflation expectations, potentially lower rates and uncertainty that markets feel,” said Juan Carlos Artigas, global head of the World Gold Council.
Reuters contributed to this report.
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