Over the past week, the gold market has experienced significant developments, with prices reaching record highs above $3,000 per ounce for the first time.
Gold hits a record $3,000 amid economic uncertainty, Fed rate cut hopes, and geopolitical risks. A bullish breakout signals further gains, though a USD recovery may slow momentum.
Gold may climb to $3,500/oz by year end, predicts expert - has investors seeking diversification without sacrificing growth. Gold ETFs expected to benefit amid market uncertainty.
Investor confidence is slipping as cash levels rise and U.S. equity exposure drops. Survey shows fading belief in U.S. exceptionalism and shift to safer assets like gold.
The precious metal Gold is in focus today after it rises firmly to exceed its recent record high just above $3,000, trading as high as $3,018 just before the start of today's London session..
Gold surged above $3,000 per ounce, hitting a record high, on the back of geopolitical tension in the Middle East while the US dollar index trades near a five-month low.
On Monday, U.S. markets closed higher after weeks of losses. Investors await Fed meeting, while economic data shows weaker retail sales and manufacturing.
The Consumer Price Index substantially slowed, whilst the Producer Price Index actually hinted at deflation, the headline number’s pace at zero and that for the core coming in negative.
