XAUUSD : Gold will reach its all-time high
Updated
World gold price (XAU/USD) decreased slightly yesterday after increasing to nearly reach 2,400 USD/ounce. According to experts, the reason may be due to profit-taking pressure after the strong increase the previous day. In addition, the recovery of the USD is also detrimental to gold.
In the short term, the combination of stable inflation and weakness in other economic data such as retail sales actually provides positive support for gold. In the long term, according to Ms. Gita Gopinath, Deputy Managing Director of the IMF, gold is increasingly asserting its position in a context full of potential economic and political risks. Gold demand has increased steadily because the precious metal is considered a "politically neutral haven asset that can be stored domestically and avoid sanctions or confiscation."
With the same opinion, ROTH Capital Partners analysts also predict that gold prices will increase even higher in the coming months, even exceeding 2,600 USD/ounce.
In the short term, the combination of stable inflation and weakness in other economic data such as retail sales actually provides positive support for gold. In the long term, according to Ms. Gita Gopinath, Deputy Managing Director of the IMF, gold is increasingly asserting its position in a context full of potential economic and political risks. Gold demand has increased steadily because the precious metal is considered a "politically neutral haven asset that can be stored domestically and avoid sanctions or confiscation."
With the same opinion, ROTH Capital Partners analysts also predict that gold prices will increase even higher in the coming months, even exceeding 2,600 USD/ounce.
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