No Data
Gold Futures End Higher Amidst Ongoing Geopolitical Tensions
As fears around Trump rise, the trends in Emerging Markets MMF and Gold diverge.
Amid expectations of Trump possibly returning to the White House, the 30-day correlation between Gold and the MSCI Emerging Markets MMF Index has dropped to its lowest point in nearly three years. Over the past three years, these two Assets have been positively correlated 86% of the time, but now they are experiencing a 30-day negative correlation, which has occurred for only the fifth time in three years.
Gold's Rally Tested By Overhead Resistance
Hong Kong stocks are moving differently | Golden Industrial Concept continues to rise as gold prices increase, welcoming a strong start with multiple Bullish factors expected to boost gold prices in 2025.
The Golden Industrial Concept continues to rise. As of the time of this report, LINGBAO GOLD (03330) increased by 5.17% to 3.46 HKD; Zijin Mining Group (02899) rose by 3.39% to 14.66 HKD; ZHAOJIN MINING (01818) went up by 2.28% to 11.68 HKD.
The marine gold mine brings good news, ZHAOJIN MINING (1818.HK) adds certainty to its growth.
The year 2024 is destined to be a year for Precious Metals, especially Gold. Against the backdrop of increasing uncertainty in the Global economy, highlighting inflationary pressures, and ongoing central bank Shareholding in Gold, the price of Gold has been soaring. According to Wind data, London Gold has continuously oscillated upwards from 2000 dollars per ounce, breaking through 2700 dollars per ounce in October, reaching a yearly high, and maintaining a high running level. At the same time, with the current intertwining of geopolitical risks, changes in liquidity, and the demand for safe-haven assets, several major banks remain optimistic about future Gold prices. Goldman Sachs believes that by early 2025, the price of Gold will reach 2900 dollars per ounce.
Gold Just Saw Its Biggest Yearly Gain Since 2010 — Here's Why Wall Street Says Prices Will Go Even Higher
Unlock the Full List
