Gold prices closed at high prices creating momentum for 2024
This morning, global spot gold prices were at $2,053.2 per ounce and gold futures were at $2,064.5, as markets were still closed after Christmas.
Last week, global gold prices registered a slight increase in the last trading session, but the $2,050 per ounce level remained a key resistance level that would be difficult for the precious metal to overcome. However, prominent commodity investor Dennis Gartman said that while stressing the increased risks following the recent sell-off in gold futures prices to an all-time high of more than $2,150 an ounce, He said prices could rise in the short term.
Dennis Gartman remains bullish on gold, saying the precious metal is supported by security demand amid concerns about increasing geopolitical instability. While the US Federal Reserve's monetary policy will be the biggest driver of the gold market in 2023, demand for safe-haven assets is being driven by concerns about geopolitical instability, Gartman said. It is said that there is. Inflation risks in the near future will likely cast a shadow.
Last week, global gold prices registered a slight increase in the last trading session, but the $2,050 per ounce level remained a key resistance level that would be difficult for the precious metal to overcome. However, prominent commodity investor Dennis Gartman said that while stressing the increased risks following the recent sell-off in gold futures prices to an all-time high of more than $2,150 an ounce, He said prices could rise in the short term.
Dennis Gartman remains bullish on gold, saying the precious metal is supported by security demand amid concerns about increasing geopolitical instability. While the US Federal Reserve's monetary policy will be the biggest driver of the gold market in 2023, demand for safe-haven assets is being driven by concerns about geopolitical instability, Gartman said. It is said that there is. Inflation risks in the near future will likely cast a shadow.
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💵TP1: 2053
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