New northward movement of gold

Apr 02, 2024

By understanding market trend, Colin Shah, MD, Kama Jewelry presented the perspective on gold & said, Gold hitting an all-time high!

Gold has continued its northward movement and scaled up to a new high-today. The upward mobility seen in gold’s performance can be attributed to absence of any major adversities from the recently announced core PCE price index in US last week, keeping the estimation on the US Fed’s rate cut announcement on track.

Established as a safe haven asset, Gold provides a meaningful hedge in an uncertain economic environment laden with geo-political tensions. Subject to international weather shift, gold as an asset class is expected to remain elevated on the back of bullish trends.

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