Gold prices are approaching the $3,000 per ounce mark, peaking briefly at $3,001 amid rising global economic uncertainty driven by geopolitical risks and U.S. monetary policy complexities. Investors are increasingly seeking safe-haven assets as the Federal Reserve prepares to announce its interest rates decision. A dovish stance from Fed Chair Jerome Powell could enhance gold's appeal, while a hawkish tone may strengthen the U.S. dollar. Additionally, ongoing geopolitical issues, especially in the Middle East, are impacting gold demand, and central banks continue to bolster their gold reserves.
At its peak, the precious metal briefly hit $3,001, before pulling back again below the 3k mark, keeping it close to its all-time highs.
The key question is how the Fed Chair will balance the growing recession narrative with a return to a disinflationary path, in a context where long-term inflation expectations appear to be derailing.
A more dovish stance from Powell could boost non-yielding assets like gold, while also reviving risk appetite, indirectly benefiting stock markets.
Central banks, led by China, have extended their gold purchases for the fourth consecutive month, reinforcing the structural demand for gold.
Collection
[
|
...
]