Skip to main content

Gold'r rise to all-time high!

 

‘Big change’ in global growth is bullish for commodities including copper, says VanEck CEO

 

Silver futures

The prices of gold and silver are doing well this year. Silver soared to a high of $29.75 this month, much higher than last year’s low of $20.73. The increase in silver price lagged behind the increase in gold price, as reflected in the rising Gold/Silver ratio since the middle of the month.

 

Gold'r rise to all-time high!

Gold's rise to all-time highs above $2400 per ounce this year has captivated global markets. China, the world's largest producer and consumer of the precious metal, is at the forefront of the extraordinary ascent.

Worsening geopolitical tensions, including war in the Middle East and Ukraine, and the prospect of lower US interest rates all burnish gold's reputation as an investment. But juicing the rally is unrelenting Chinese demand, as retail shoppers, fund investors, futures traders, and even the central bank look to bullion as a store of value in uncertain times.

The People’s Bank of China has been on a buying spree for 17 straight months, its longest-ever run of purchases, as it looks to diversify its reserves away from the dollar and hedge against currency depreciation

Chinese demand could continue to rise as investors look to diversify their holdings with commodities, BI analyst Rebecca Sin said in a note.




China Is Front and Center of Gold’s Record-Breaking Rally - BNN Bloomberg

CME Group Micro Gold, Silver and Copper Products Update – April 2024 - CME Group

Gold (GLD) and silver (SLV) ETFs to benefit from the REPO Act (invezz.com)

Comments

Post a Comment

Popular posts from this blog

    Record closing week for gold! Week 9 concludes with optimism in the gold market, but analysts still recommend caution regarding gold next week. Purchases of precious metals increased on Friday as production activity in the market was slower than anticipated. This also demonstrates the significant potential gold possesses.   Gold futures April futures have been traded at $2095.20 per ounce, marking a 2% increase from the previous week. This is the best performance in 2024 and has resulted in a new record closing price. Analysts do not see this uptrend supported by strong fundamental factors and believe that profit-taking and volatility could push prices back. They also add that they believe the price in the next week will be maximum $2,088 per ounce. This analysis is also supported by economists on Wall Street, who have begun to doubt that there will be further interest rate cuts. On the contrary, perhaps the next move could be an interest rate increase, ...
Post a Comment
Read more
  Gold holds strong despite headwinds! Gold is heavily influenced by the US dollar now, and if it is signaled next week that there will be 3 interest rate cuts in 2024, this will lead to a new wave of gold buying. As mentioned in the headline, gold is facing headwinds, including the strong US dollar and high bond yields. On Friday, gold reached record highs due to a weaker US dollar and lower bond yields, but now the tailwinds have turned, and inflation has stagnated, thus also reducing expectations for 3 interest rate cuts next year. Considering the high levels of the US dollar and bond yields, it is surprising that the price of gold has remained high, but there is no doubt that the upward momentum has stalled. The Federal Open Market Committee will hold a meeting next week on interest rate cuts, and it is hard to believe that rates will decrease with the recent high inflation in the US. The tension between what the market says and what the Fed has said has also influenced...
Post a Comment
Read more
  Markedet er i en reflasjonær modus, noe som betyr at det er betydelig etterspørsel etter råvarer over hele verden. Dette gjelder alle varer, ikke bare gull; det inkluderer olje, sølv, kobber og mer. I tillegg når den amerikanske dollaren sine topper.   Dette er noen av de mest volatile makroperiodene!!!     Høye tall også for sølv!   Prisen på sølv stiger ettersom handelen er fokusert på gullmarkedet. Korrelasjonen mellom gull og sølv holder seg under 85, noe som er veldig positivt for sølv.   Sølv beveger seg mot nærmeste motstandsnivå på $27,80-$30, som også er i tråd med vår kortsiktige prognose.       Vi har opplevd det som er kjent som et Golden Cross, som tydeligvis påvirker markedet etterpå. Dette vil sannsynligvis føre til en svekkelse av amerikanske dollar.   I tillegg forventer vi at rentekutt vil skje over hele verden snart, noe som vil drive opp prisene på edle metaller     Ytterligere råd:   Sølv er mye bruk...
Post a Comment
Read more