Gold Surges to $2,280 as Safe Haven Demand Soars
The price of gold has experienced a remarkable increase, with spot gold climbing by $29.9 to reach $2,280 per ounce.
This substantial surge on April 2nd, in US time, has been propelled by the persistent demand for a safe haven amid escalating tensions in the Middle East. Despite the strength of the US dollar and forecasts of interest rate cuts in the US, the gold market continues to defy expectations, consistently reaching new highs.
Moreover, robust demand from retail investors and global central banks further contribute to the upward momentum of this precious metal.
Considering these factors, a target of $2,289 for gold appears not only feasible but highly probable!
This substantial surge on April 2nd, in US time, has been propelled by the persistent demand for a safe haven amid escalating tensions in the Middle East. Despite the strength of the US dollar and forecasts of interest rate cuts in the US, the gold market continues to defy expectations, consistently reaching new highs.
Moreover, robust demand from retail investors and global central banks further contribute to the upward momentum of this precious metal.
Considering these factors, a target of $2,289 for gold appears not only feasible but highly probable!
Comment:
Comment:
Gold price is closely following the target that I analyzed
