Gold's recent surge to $2,740/oz indicates strong confidence among genuine buyers looking to preserve value amid a dynamic macroeconomic landscape.
With the U.S. election approaching, expected fiscal expansions regardless of the outcome could devalue the dollar, making gold more appealing to investors seeking stability.
Whether the impact of geopolitical risks or expectations of slower monetary tightening prevail, gold's upward trajectory could reach $2,800-$2,900/oz.
Investors are increasingly adopting a strategy of accumulating gold on dips, indicating strong long-term belief in its value preservation amidst economic uncertainty.
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