Analysis: Gold prices reach historic highs due to trade and geopolitical instability
Golden Finance reports that gold prices hit a historic high on Monday, as concerns over the escalation of global trade wars and unclear geopolitical prospects have enhanced the appeal of gold as a safe-haven asset and inflation hedge. Gold futures prices rose 1.3% in early trading to $3,154.40 per ounce.
So far this year, gold has risen by more than 19%, and its upward trend is expected to continue. Analysts from ANZ Bank's Economic and Market Research Department said: "Strong investment inflows, resilient physical demand, and increased central bank purchases will keep gold strong." Traders are currently waiting for the scope of reciprocal tariffs that US President Trump will impose on major trading partners; these tariffs could increase inflationary pressure and potentially slow global economic growth.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Yelooo Integra Datanet corrects July securities holders registration report
Cakra Buana Resources Energi shareholder Republik Capital cuts stake to 9.3% from 11.3%
Preferred shares of South Korean companies are trading at a record 45% discount in ten years; Samsung's 110 trillion won buyback plan may help eliminate the "Korea discount"
Samsung Electronics' highly anticipated stock buyback plan is raising investor expectations that the South Korean giant will purchase non-voting preferred shares, narrowing their deep discount and setting a precedent for other companies.
Crypto prices
More
