Gold has reached a new record higher level above $ 3,600 per ounce as investors bet on the fact that the US Federal Reserve will cut interest rates this month, promotes the demand for traditional safe-heaven assets.
Spot Gold increased by 0.8 percent to trade at $ 3,614.24 an ounce, raised by a weak dollar and raised by increasing concerns over questions about the global economic approach, American trade tension and long -term dominance of the dollar.
The latest rally has expanded a sharp run-up in prices, with more than 35 percent of gold climbing since the beginning of the year, as investors and central banks have equally added their holdings to protect against inflation and policy uncertainty.
The bounce follows the warnings of the Goldman Sachs' analysts, who said last week that if President Trump's continuous attacks on the Federal Reserve reduce their freedom, gold can climb to $ 5,000 an ounce. Investors are afraid that political pressure on the fed may weaken his resolve in fighting inflation, making another flight from the property of the dollar-sect in precious metals.
The speed of gold underlines the direction of the American monetary policy and its impact on its impact on the global economy. Inflation is still elevated and caught by the Fed White House amid credibility and need to maintain political investigation, analysts suggest that the bullion may remain a major beneficiary of uncertainty in the next months.
Jamie young
Jamie is a senior reporter in Business Matters, who is bringing more than a decade experience in UK SME business reporting. Jamie holds a degree in business administration and regularly participates in industry conferences and workshops. When not reporting the latest commercial developments, Jamie has emotional about advising journalists and entrepreneurs to motivate the next generation business leaders.