Gold prices continue to hit new record highs as Classic Flight Two Safety assets glow brightly as rattles due to an increasingly uncertain global status quo.
It's a take from an analyst watching yellow metal soar up.
Gold Futures (GC = F) went on Wednesday to USD 2,900 per ounce. gold I gave USD 2,800 for the first time Last week, US President Donald Trump set the stage for an imminent trade war with Canada and Mexico.
On Monday, the White House agreed to refrain from doing so for 30 days. However, the Trump administration has proceeded to collect 10% of China's imports and urged Beijing to announce retaliation measures.
There is no yield, but investors have long turned into gold as a safe hull investment in the era of economic upheavals and war. Gold prices also benefit from central banks that have purchased at the highest levels since the late 1990s and are increasing fear of US debt.
XS senior market analyst Summerhasun said, “Coupled with his proposal for US control of the Gaza Strip and with his proposal with Chinese President Xi Jinping, China's President Xi Jinping, is not in a hurry to engage with Chinese President Xi Jinping. Trump's statement about “.com wrote in the survey summary on Wednesday.
At the same time, he says US economic data, including Wednesday's purchase manager index reads, is weak, boosting another Federal Reserve case of interest rate cuts.
“Softer numbers could provide additional momentum for gold prices,” Hasn added. “Under current conditions, the market can test a threshold of USD 3,000.”
Ryan McIntyre, managing partner at Sprott Asset Management, says Gold is a unique product for investors. A much less volatile, more valuable liquid stores than Bitcoin, a low correlation with other asset classes, and a physical limit on the pace of new supply from the mines.
Next is the Trump factor.
“He's doing a lot of things people have never done or thought about before,” McIntyre said. Yahoo Finance Canada In an interview. “Uncertainty is always good for money, and I think you have the best environment for gold right now.”
He also sees political fractures spreading in Canada and Europe.
“People have been split more politically for a long time, in a tougher way, in a tougher way,” McIntyre said. “Even if it was in the US, Germany, even now, there was a pretty big swing now. I think people are getting stricter in their own opinion.”
He believes Gold will continue its strong performance and reach new highs in the coming years. However, McIntyre refuses to specify price targets, citing the company's reasons for compliance.
