State Street Global Advisors Chief Gold Strategist George Milling-Stanley says that 40% of gold in the last 12 months are still legs. here’s why.
Gold broke the price limit for the first time on Friday as the investors launched a rally in a safe-huge property amid economic uncertainty due to the President. Donald Trump’s Tariff war.
place Gold prices In Friday’s trading session, traders made profits before taking a dip below the level of $ 3,000 at an all -time high level of $ 3,004.86.
Tai, a businessman of an independent metal businessman Tai, said, “Historical $ 3,000 milestone growth” was operated by investors seeking the final safe-heaven asset in view of Trump’s tumor on the stock markets. ,
Why gold prices can be $ 3,000 hits despite volatility
Spot gold prices crossed the $ 3,000 per ounce level for the first time on Friday. (Photo by Arne Deadart/DPA/AFP through Getty Image/Getty Image)
Traditionally geo -political upheaval is seen as a safe reserves of the value during the upheaval, so far this year the gold bullion has increased by about 14%, which is inspired by concerns on the effects of the effect. Trump’s tariff And vengeance by business partners has recently contributed to the stock market sales.
“Real asset money manager, especially in the West, needs a strong stock market and Economic recession Ole Hansen, head of commodity strategy at Saxo Bank, said, “It is happening now and now.
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Gold is traditionally seen as a safe-hevan property for investors during the time of economic and geopolitical upheaval. (Istock / istock)
Gold prices have also increased due to the demand of central banks, in which China has promoted its store for the fourth straight month in February.
Goldcore CEO David Russell said, “Central banks continue record level gold acquisitions, seeking to move away from a rapidly unstable US dollar.”
Expectations that federal Reserve According to the CME Fedwatch Tool, it has helped reduce its monetary policy in the next few months, as traders are expected to cut interest rate in June.
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Global head Juan Carlos Artigus at the World Gold Council said, “There are good reasons why investment demands remain strong … increased geopolitical and geopolitical risk, high inflation expectations, potentially low rates and uncertainty that markets are feeling.”
Reuters contributed to this report.
