Gold anchors at high levels

The world gold price stood at 2,233 USD/ounce, unchanged at yesterday morning's price because the world market was closed for Good Friday and Easter.

The gold market continued to show strong momentum as it ended the month and quarter near record highs, firmly above $2,200 an ounce. According to Kitco expert Gary Wagner, an important factor pushing gold higher in recent days is that central banks around the world continue to accumulate gold. As these organizations increase their reserves, increased demand will directly impact prices, pushing precious metals to unprecedented levels.

Although gold is ending the trading week on a positive note, next week will pose new risks. Although optimistic about gold prices, he still warns that investors should wait for a pullback before jumping in.

Also note that gold doesn't really need a rate cut to maintain its upward trajectory. Although higher inflation may prevent the Fed from cutting interest rates this year, it is difficult to force the Fed to raise interest rates. This environment will still push real interest rates lower, putting pressure on the USD and supporting gold prices.

Comment:

Looking back at last week's economic data released by the US, the market believes that gold prices may be under downward pressure, with gold speculative positions falling during the week.

Comment:

Comment:

Even though the price of gold is at an all-time high, many market observers are still paying attention to it. While the current economic situation is favorable for stocks, it is even more favorable for gold, Tim Hayes, global investment strategist at Ned Davis Research wrote in a recent report.