Gold has surged 1.9% to reclaim the $2,600 per ounce level, largely due to a weaker dollar and easing U.S. Treasury yields that have contributed to its rebound.
Market dynamics have shifted after a recent 9% decline, as geopolitical risks resurface and demand for gold strengthens, reinforcing its status as a dependable hedging asset.
There are diverging opinions on gold's future, suggesting it might retest lower levels if the Fed resumes rate cuts, contingent on economic data regarding inflation.
Conversely, analysts predict a potential rise to $3,000 if central banks increase gold purchases through 2025, highlighting the uncertainty in gold's market trajectory.
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