LONDON (IT BOLTWISE) – Gold prices are hitting new record highs, driven by geopolitical tensions and falling interest rates. Investors are increasingly looking for safe havens as the trade conflict between the US and China continues to fuel demand for precious metals. Experts see the current market situation as a combination of geopolitical uncertainties and economic factors that are driving up the price of gold.
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The price of gold has reached remarkable heights in recent weeks, making headlines in both the US and Europe. The London Stock Exchange recently hit a record $4,247 a troy ounce, marking the fourth consecutive day of new highs. This development is significantly influenced by the increasing tensions in the trade conflict between the USA and China.
Another major factor driving up the price of gold is the falling interest rates that have been hinted at by the US Federal Reserve. Jerome Powell, the chairman of the Federal Reserve, has raised the possibility of a rate cut by the end of October. In times of low interest rates, gold becomes particularly attractive for investors because it does not generate interest income and is therefore considered a safe haven.
Also quoted in euros, gold continues its rise and recently reached a new all-time high of 3,645 euros. The geopolitical situation, particularly China’s export restrictions on rare earths, contributes to uncertainty and increases demand for gold. These developments are leading investors to increasingly invest in gold-backed exchange-traded funds (ETFs) to diversify their portfolios.
Silver, another precious metal, is also on an upward trend. Although it is trading just below its recent high of $53.54, it is showing similar momentum to gold. The ongoing budget dispute in the US, which has led to a partial shutdown of government agencies, is adding to uncertainty and driving investors into safe-haven assets such as gold.
Michael Widmer, commodities expert at Bank of America, highlights strong ETF inflows as an important driver of the price rally. Analyst Ricardo Evangelista from Activtrades emphasizes that gold remains popular with investors as a safe haven. The combination of geopolitical tensions and economic uncertainties creates an environment in which gold continues to become more attractive.
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