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
Citi optimistic about international oil companies: low-cost resource reserves being rebuilt may drive energy sector to reverse a decade-long valuation discount
With oil prices in the mid-$70s range, Citi believes that global international oil companies (IOCs) can deliver a free cash flow yield of 7% to 8%, and achieve a real growth rate of 4% to 5% over a period of time.
Honda Motor (HMC.US) Reports 65.7% Increase in Net Profit in the First Half, Plans to Expand Production Capacity in North America and Brazil
Honda Motor (HMC.US) released its financial results for the first half of fiscal year 2027 on November 10.
Crypto winter not over? Mining rig hosting provider Bitari cancels orders at the last minute, IPO plans put on hold
Bitcoin mining service provider Bitari has withdrawn its Nasdaq IPO plan. The company originally intended to issue 4.3 million shares at $7 per share to raise $30 million. Its annual revenue is approximately $11 million.
Crypto prices
More
