As global banks struggle and the US Federal Reserve makes another interest rate decision, gold has more room to run; Which could push it to break all-time highs.
According to analysts in financial services companies, it is “likely that the Federal Reserve’s sooner raising interest rates will cause gold prices to rise again, due to a possible additional decline in dollar and US bond yields; Therefore, it is expected that gold prices will trade between $ 2,500 and $ 2,600 an ounce. net".
According to the data, gold traded at $1,940 an ounce, but (Monday) it breached $2,000, achieving its highest level since March 2022. Gold has risen by about 10% since early March when the Silicon Valley Bank (SVB) crisis flared up.
Gold's all-time high of $2,075 was recorded in August 2020. Demand from central banks is likely to keep prices high.
Okaz (New York) @okaz_online
