Gold Hits Fresh Record To US$3,358 An Oz
Gold continues to surge to 3350 USD! Goldman Sachs warns: "tail risks" could drive gold prices to 4500 USD.
Federal Reserve Chairman Powell's warning about the impact of the trade war has intensified volatility on Wall Street, leading to a significant drop in the stock market and the dollar, while gold prices hit new highs.
Gold Hits New Record Highs As Safe-Haven Demand Climbs: 2 Ways To Invest
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U.S. gold mining stocks surged before the market opened, with Newmont rising over 10%, and gold breaking the 3,300 mark to continue hitting new highs.
① The spot Gold price broke through $3,300, reaching a daily high of $3,317.82 per ounce. Influenced by the rise in Gold prices, gold mining stocks in the U.S. strengthened overall before the market opening; ② Analysts state that concerns over a Global economic recession triggered by the trade war, along with investors' difficulties in establishing long-term positions, have made Gold a safe-haven Asset. Additionally, factors like the depreciation of the dollar and expectations of interest rate cuts by the Federal Reserve have supported Gold prices.
Safe-haven Gold Hits Record High on Weak Dollar, Trade War Woes
The weak dollar and the escalating trade war are driving the surge as Gold soars close to 3,300 dollars.
As the dollar weakens, trade tensions escalate, and concerns about Global economic growth rise, the demand for safe-haven Assets has pushed Gold prices to break historical records again on Wednesday.
Gold Climbs To Record As Trade War Continues
Express News | Spot Gold Surges Past $3,280, Hitting a New Record High; In Overnight Trading, Gold Stocks Continue to Rise, With $Harmony Gold Mining(HMY.US)$, $Coeur Mining(CDE.US)$ and $Gold Fields(GFI.US)$ Rising More Than 6%
Express News | Spot Gold Rises 1% to a Record High of $3,260.51/Oz
Gold Climbs to Record as Expanding Trade War Aids Haven Demand
Tianfeng: The upward movement of gold prices is forming a consensus, significantly increasing the probability of growth in corporate earnings.
Has the time come for the convergence of the Golden Industrial Concept and the "scissors gap" of gold?
Express News | Trump Issues Executive Order to Initiate Tariff Probe on All U.S. Critical Mineral Imports
Express News | Spot Gold Hits Record High of $3,248.36/Oz
Update: Gold Nears a Record High as Tariffs War Continues to Support Safe-Haven Buying
A historic week, Institutions' choice: go long on Gold!
Last week, the financial markets experienced a dramatic transformation. A Bank of America survey showed that up to 82% of fund managers surveyed expect the global economy to weaken, reaching a historical high not seen in 30 years. However, this has not yet been fully reflected in asset allocation, with current cash allocation at 4.8% of assets, usually needing to rise to 6%. Global Equity allocation has dropped to the lowest level since July 2023, and 'going long on Gold' has replaced the 'long on Mag7' trade that lasted for 24 months, becoming the most crowded trade at present.