On March 14th, Jinshi data reported that driven by ongoing trade war concerns and expectations of Fed rate cuts, the safe-haven gold price soared to a record high on Friday, with the Spot gold price just a stone's throw away from the key level of $3000. Gold prices have hit 13 historical highs so far this year and are expected to pump for the second consecutive week. Nitesh Shah, a commodity strategist at WisdomTree, said, "The risk is tilted to the upside because the popularity of gold is currently very strong. If this chaotic policy-making continues, this sentiment may persist." Ole Hansen, head of commodity strategy at Shengbao Bank, said, "Momentum and safe-haven demand are driving ETF holdings higher," which also supports the gold price.
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The price of gold is pressing step by step, continuing to move towards $3,000
On March 14th, Jinshi data reported that driven by ongoing trade war concerns and expectations of Fed rate cuts, the safe-haven gold price soared to a record high on Friday, with the Spot gold price just a stone's throw away from the key level of $3000. Gold prices have hit 13 historical highs so far this year and are expected to pump for the second consecutive week. Nitesh Shah, a commodity strategist at WisdomTree, said, "The risk is tilted to the upside because the popularity of gold is currently very strong. If this chaotic policy-making continues, this sentiment may persist." Ole Hansen, head of commodity strategy at Shengbao Bank, said, "Momentum and safe-haven demand are driving ETF holdings higher," which also supports the gold price.