Gold prices reached a new record high driven by increasing fears of an economic slowdown. Weak U.S. retail sales figures have intensified demand for safe-haven assets. President Trump's ongoing protectionist policies negatively influence the U.S. economy, prompting a downward adjustment to global growth predictions. Investors are keenly focused on the upcoming Federal Reserve meeting. While rates are predicted to remain unchanged, guidance on future policies from Fed Chair Jerome Powell could affect gold's attractiveness, especially if geopolitical tensions persist and impact investor confidence.
Gold prices soared to record highs, driven by economic slowdown fears and disappointing U.S. retail sales, increasing the demand for safe-haven assets.
Trump's protectionist policies are putting pressure on the U.S. economy, leading to lowered global growth forecasts and influencing investor behavior toward gold.
Investors are anticipating the Federal Reserve's meeting, focusing on projections and Powell's comments. A dovish tone could strengthen gold demand further.
Geopolitical tensions, especially in the Middle East and the dynamics of the Russia-Ukraine conflict, are likely to impact gold's price stability and demand.
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