Continue to conquer new records
World gold prices continued to increase sharply with spot gold increasing by 29.9 USD to 2,281 USD/ounce. Gold futures last traded at $2,302.10 an ounce, up $29.50 from the bright spot.
World yellow metal prices continued to conquer new records on April 2 (US time) thanks to being supplied by safe-haven demand amid increasing tensions in the Middle East. The gold market has sparked the strength of the USD and expectations of cutting US interest rates and continuously conquering new records.
TD Securities commodity strategist Daniel Ghali said that gold received support from safe-haven demand due to concerns related to the Israeli attack on the Iranian Embassy in Damascus, Syria earlier this week.
On that side, experts also believe that strong demand from retail investors and central banks around the world is also a factor that helps prolong the growth of this precious metal. The combination of factors has helped the price of gold increase nearly 10% from the beginning of the year until now.
The dollar jumped after data released earlier this week showed US manufacturing posted growth for the first time in 1.5 years in March. After the report, traders reduced their bets. bet on the possibility that the US Federal Reserve (Fed) will loosen monetary policy in June to 58% from about 60% previously. This would normally put pressure on non-coupon bullion prices. However, the price of this precious metal is still "galloping" and breaking many new highs in just 2 days.
World yellow metal prices continued to conquer new records on April 2 (US time) thanks to being supplied by safe-haven demand amid increasing tensions in the Middle East. The gold market has sparked the strength of the USD and expectations of cutting US interest rates and continuously conquering new records.
TD Securities commodity strategist Daniel Ghali said that gold received support from safe-haven demand due to concerns related to the Israeli attack on the Iranian Embassy in Damascus, Syria earlier this week.
On that side, experts also believe that strong demand from retail investors and central banks around the world is also a factor that helps prolong the growth of this precious metal. The combination of factors has helped the price of gold increase nearly 10% from the beginning of the year until now.
The dollar jumped after data released earlier this week showed US manufacturing posted growth for the first time in 1.5 years in March. After the report, traders reduced their bets. bet on the possibility that the US Federal Reserve (Fed) will loosen monetary policy in June to 58% from about 60% previously. This would normally put pressure on non-coupon bullion prices. However, the price of this precious metal is still "galloping" and breaking many new highs in just 2 days.
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