Gold prices hit a historic peak on Monday, influenced by a declining US dollar, escalating trade tensions, and rising concerns about geopolitical stability. The market's flight towards safe-haven assets, especially gold, is intensified by President Trump's challenges against Federal Reserve President Jerome Powell, which might provoke caution among investors. Additionally, the European Central Bank's recent rate cut made gold more appealing as a non-yielding asset. With ongoing tensions in Eastern Europe and the Middle East, investors are keenly awaiting US central bank guidance and macro data for future economic insights.
Gold prices surged to an all-time high driven by a weaker US dollar, trade tensions, and heightened safe-haven demand amidst increasing geopolitical risks.
President Trump's opposition to Jerome Powell may lead to caution on international markets, increasing the appeal of gold and other safe-haven assets.
The European Central Bank's recent rate cut has made gold, a non-yielding asset, more attractive to investors amid monetary policy shifts.
Geopolitical tensions in Eastern Europe and the Middle East have further strengthened gold's position as a preferred investment during uncertain times.
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