"Gold surged on Wednesday, setting another record, as escalating geopolitical tensions continued to undermine investor confidence and reinforce demand for safe-haven assets. The broad risk-off tone has favoured gold. The latter remained on a strong uptrend and stayed at the center of attention for market participants. A move reflected by persistent inflows into gold-backed ETFs and ongoing purchases by central banks, which underline strong conviction in the metal's medium-term outlook."
"Tensions between the United States and Europe intensified and fuelled concerns of further escalation around Greenland. At the same time, geopolitical risks remain elevated on multiple fronts, including Eastern Europe and the Middle East, reinforcing gold's appeal amid global uncertainty. Looking ahead, attention will also turn to key US economic data due on Thursday, including GDP and core PCE figures."
Gold reached another record as escalating geopolitical tensions eroded investor confidence and increased demand for safe-haven assets. The market exhibited a broad risk-off tone that favored gold, which remained on a strong uptrend driven by persistent inflows into gold-backed ETFs and ongoing central bank purchases, signaling conviction in the metal's medium-term outlook. Intensified tensions between the United States and Europe raised concerns about escalation around Greenland, while risks in Eastern Europe and the Middle East stayed elevated, further supporting gold's appeal. Upcoming US GDP and core PCE data could reinforce expectations of a more dovish Federal Reserve in 2026, which would be supportive for gold.
Read at London Business News | Londonlovesbusiness.com
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