Gold Market Analysis: The European Central Bank continues to cut interest rates, and gold decisively moves towards new highs.
Bank of China's Guangdong branch manager Wang Gang stated that the retail sales and weekly initial jobless claims reports released by the USA on Thursday show that the US economy is quite resilient. These two reports belong to the hawkish camp of US monetary policy, hoping to see the Fed exercise restraint in cutting interest rates. The European Central Bank's move to continue cutting interest rates first naturally leads investors to speculate that the Fed and the central banks of major developed economies like the UK are likely to follow suit. In addition, the ongoing geopolitical conflicts in Russia-Ukraine and the Middle East continue to add to the demand for safe-haven assets like gold.
Spot Gold Extends Its Record-breaking Run to Top US$2,700
Gold price continues to refresh highs! Risk aversion sentiment warms up, spot gold breaks above $2700.
Spot gold breaks through $2700, continuing its record-breaking rally.
Spot Gold Tops $2,700 as Metal Extends Its Record-Breaking Run
Gold Hits Record High as Interest Rates Fall
Gold Touches New High to Hold Above $2,700 per Ounce