Gold topped $2500 per ounce psychological high. Here's why
Updated
The price of spot gold climbed $2500 per ounce to a new record high, by mid-August, 2024.
The Yellow metal has rallied 21.5% this year, and this is the best result in this time against Top 4 american indices - Dow Jones Industrial Avg (DJIA), SP500 (SPX), Small cap Russell2000 (RUT) and full of tech stocks Nasdaq-100 indices (NDX).
Gold jumped as much as 1.8% on Friday, as investors inflation expectations are still extremely high, and still there're no convincing sign that major Russia - Ukraine conflict as well as Israel - Arab conflict are near to be settled.
Even recent weakness in US labor market and new-home starts fall to the lowest level since 2020 give no power to Federal Reserve (US Central Bank) to cut an interest rate even to 1/4 per cent.
Last 2 years, a lot of banksters forecasted that Fed will cut interest rate.
In fact - it still didn't. Just blah-blah-blah and super-duper AI hype, which based on nothing.
In technical terms, spot Gold breaks its $2500 psychological high, ready to go further, up to 3k.
The Yellow metal has rallied 21.5% this year, and this is the best result in this time against Top 4 american indices - Dow Jones Industrial Avg (DJIA), SP500 (SPX), Small cap Russell2000 (RUT) and full of tech stocks Nasdaq-100 indices (NDX).
Gold jumped as much as 1.8% on Friday, as investors inflation expectations are still extremely high, and still there're no convincing sign that major Russia - Ukraine conflict as well as Israel - Arab conflict are near to be settled.
Even recent weakness in US labor market and new-home starts fall to the lowest level since 2020 give no power to Federal Reserve (US Central Bank) to cut an interest rate even to 1/4 per cent.
Last 2 years, a lot of banksters forecasted that Fed will cut interest rate.
In fact - it still didn't. Just blah-blah-blah and super-duper AI hype, which based on nothing.
In technical terms, spot Gold breaks its $2500 psychological high, ready to go further, up to 3k.
Trade active
August 21, 2024
👉 Gold spot has continued to explored against the Greenback, printing new historical highs day after day (25th time in this year).
Trade active
August 23, 2024
👉 Gold spot (XAUUSD) has climbed higher, following the epic $2500 mark breakthrough.
👉 Fed Chair Powell indicates interest rate cuts ahead: ‘The time has come for policy to adjust’.
Trade active
September 1, 2024
👉 $2500+ per ounce has been printed, by the end of month (August, 2024).
Trade active
September 11, 2024
👉 Gold spot remains super stable above $ 2500 milestone, while U.S. stock market (converted into yellow metal ounces) fizzles out of 15-years old bull run.
Trade active
September 12, 2024
👉 Gold spot (XAUUSD) jumps higher up to $2550 per ounce, due to U.S. economy and U.S. dollar weakening.
Trade active
September 13, 2024
👉 Golden bull run has been continued, following by fundamental interaction primarily observed as mutual attraction to time-tested safe heaven asset.
👉 $ 3 000 per Yellow metal ounce by 2025 comes closer to the investment radars.
Trade active
September 16, 2024
👉 Value assets like Gold shine bright, amid Growth assets depression
👉 Gold spot (XAUUSD) recently has printed new all the time high near $2600 milestone.
👉 That was 30th ATH for Gold in this year.
Trade active
September 17, 2024
👉 Gold spot has reached $ 2600 milestone, following "The Ever-Green" devaluation.
Trade active
September 24, 2024
👉 Gold spot has climbed higher, above $ 2650 per ounce, continuing historically unprecedented rally of 9 straight months in a row.
👉 Since the so-called "Gold Standard" has been demolished in 1970s, this is the largest ever upside series of continuous monthly gains for Gold spot, against the major fiat currencies (USD, EUR, etc).
👉 Once again, this Golden sprint has no any analogues in history ever.
Trade active
October 18, 2024
👉 Gold spot pop higher, above $ 2700 per ounce, since US dollar 14-Days straight gain paused.
Trade active
October 25, 2024
👉 Gold price has surged higher, printing super-duper robust +33% return in 2024, the best one..... over past 45 years (since 1979). The 3rd result belongs to 2007 (nearly 31%).
👉 Large Speculators Net Long (COT Data) is at ultimate high also in this time.
Note
November 13, 2024
👉 Gold spot
XAUUSD is back to 1-month support near $ 2600 per ounce, due to Trump-a-rally activity.
👉 Nice opportunity to grab some everlasting yellow metal in to pockets, at discounted prices.
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