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Since the USA election, both the USA and China have been competing for Gold.
Recently, China has seen a rebound in demand for Gold, primarily driven by purchases from the central bank. Since the US elections, demand for Gold in the USA has surged, leading to a premium on US Gold prices due to tariff expectations, and in the past two months, a large amount of Gold has been transferred from Global reserves and bullion Banks to the USA.
Update: Gold Rises to a Fresh Record as U.S. Trade Policy Concerns Spur Safe-Haven Buying
Gold Revaluation Risks 'Messy' Outcome for Fed, Wrightson Says
Goldman Sachs Lifts Year-end Gold Target to $3,100
Gold Rises as U.S. Trade Policy Concerns Spur Safe-Haven Buying
Gold will continue to shine this year! UBS Group has raised its gold price target to 3,200 dollars by the end of the year.
① Due to an "unprecedented market dislocation" in the Gold market, UBS Group expects that gold prices will climb to $3,200 later this year and stabilize around $3,000 by the end of the year. ② Affected by tariff uncertainties, concerns over stagflation, and ongoing global conflicts, gold is viewed as a safe-haven asset.