Gold Surges to $3,317.90 as Central Banks Dump Dollars – $3900 In 3 Months?
Gold prices surge to an unprecedented $3,317.90 per ounce this week as central banks accelerate dollar dumping and global unrest intensifies. This remarkable climb in the commodity market strengthens gold’s safe haven appeal amid mounting tensions.
Also Read: De-dollarization: Goldman Sachs Predicts Grim Future for U.S. Dollar
Central Banks’ Dollar Dumping Drive To Gold Record High – First Time Ever Over $3300
Trump’s Policies Fuel Gold’s Rally
Gold prices surge following U.S. President Donald Trump’s order for an investigation into potential tariffs on critical mineral imports. This move, targeting China, has sparked investor flight to safe haven assets.
Ole Hansen, head of commodity strategy at Saxo Bank, stated:
“Trump’s trade war shows no signs of easing after the President ordered a probe into critical minerals, semiconductors and pharmaceuticals, sparking a fresh move towards safe havens and out of stocks.”
Central Banks Abandon Dollar Holdings
Central banks’ dollar dumping continues to drive gold prices surge in the commodity market. The dollar index weakened by 0.5% against rival currencies, making gold more attractive for international buyers.
Hansen explained:
“We are upgrading (gold forecast) to $3,500 supported by a world in disarray where investors seek shelter amid recession fears, geopolitical tensions, fiscal debt concerns and central banks diversifying their holdings away from USD and dollar-based assets.”
Also Read: Here’s How Much $2,000 in Solana at Its All-Time Low Is Worth Today
Financial Institutions Raise Forecasts
Major banks revise gold price projections upward amid global unrest. ANZ raised its year-end gold price forecast to $3,600 per ounce, reflecting confidence in gold’s safe haven status.
U.S.-China tensions intensified as China directed airlines to halt Boeing jet deliveries, while new export restrictions were imposed on AI chips to China.
Also Read: US Stock Market Could Plunge 50% After Tariffs Resume
The gold prices surge has lifted other precious metals, with silver rising 2.4% to $33.07 an ounce, as investors seek protection from market volatility in the commodity market.
Read More
Deaton Sees Ripple’s Hidden Road Move as Best Example of Crypto–Wall Street Convergence
Gold Surges to $3,317.90 as Central Banks Dump Dollars – $3900 In 3 Months?
Gold prices surge to an unprecedented $3,317.90 per ounce this week as central banks accelerate dollar dumping and global unrest intensifies. This remarkable climb in the commodity market strengthens gold’s safe haven appeal amid mounting tensions.
Also Read: De-dollarization: Goldman Sachs Predicts Grim Future for U.S. Dollar
Central Banks’ Dollar Dumping Drive To Gold Record High – First Time Ever Over $3300
Trump’s Policies Fuel Gold’s Rally
Gold prices surge following U.S. President Donald Trump’s order for an investigation into potential tariffs on critical mineral imports. This move, targeting China, has sparked investor flight to safe haven assets.
Ole Hansen, head of commodity strategy at Saxo Bank, stated:
“Trump’s trade war shows no signs of easing after the President ordered a probe into critical minerals, semiconductors and pharmaceuticals, sparking a fresh move towards safe havens and out of stocks.”
Central Banks Abandon Dollar Holdings
Central banks’ dollar dumping continues to drive gold prices surge in the commodity market. The dollar index weakened by 0.5% against rival currencies, making gold more attractive for international buyers.
Hansen explained:
“We are upgrading (gold forecast) to $3,500 supported by a world in disarray where investors seek shelter amid recession fears, geopolitical tensions, fiscal debt concerns and central banks diversifying their holdings away from USD and dollar-based assets.”
Also Read: Here’s How Much $2,000 in Solana at Its All-Time Low Is Worth Today
Financial Institutions Raise Forecasts
Major banks revise gold price projections upward amid global unrest. ANZ raised its year-end gold price forecast to $3,600 per ounce, reflecting confidence in gold’s safe haven status.
U.S.-China tensions intensified as China directed airlines to halt Boeing jet deliveries, while new export restrictions were imposed on AI chips to China.
Also Read: US Stock Market Could Plunge 50% After Tariffs Resume
The gold prices surge has lifted other precious metals, with silver rising 2.4% to $33.07 an ounce, as investors seek protection from market volatility in the commodity market.
Read More