Gold prices climbed during trading on Wednesday, driven by persistent uncertainty surrounding a potential trade agreement between the United States and China, as well as investor anticipation of upcoming U.S. inflation data.
Gold prices experienced a notable increase, driven by rising global economic uncertainty and renewed trade tensions between the United States and China. The precious metal benefited further a weakening U.S. dollar, prompting a flight to safe-haven assets amid concerns of a deeper-than-expected global slowdown.
Several key factors have prompted major financial institutions to revise their gold forecasts upward. Notably, Citigroup raised its three-month price target for gold 3,150 to 3,500 per ounce. This upward revision reflects rising risks, including U.S. protectionist policies, budgetary concerns, and ongoing geopolitical conflicts in regions such as Ukraine and the Middle East.
Gold prices rose during Asian trading on Wednesday, reaching their highest levels in a week. The upward movement was driven by a weaker U.S. dollar and increased investor demand for safe-haven assets amid ongoing financial uncertainty in the United States, lawmakers are debating a comprehensive tax reform bill
Gold prices continued to fall globally on Thursday, May 8, despite warnings the U.S. Federal Reserve about the growing risks of rising inflation.
Gold declined for the third consecutive day amid signs of possible progress in U.S.-China trade talks, reducing demand for safe-haven assets.
Gold prices continued to decline last weeks record highs, as a renewed appetite for risk emerged across global markets amid signs of easing trade tensions.
Gold prices declined in early Wednesday trading as market tensions eased following a shift in tone the U.S. administration.
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