Gold price rises, will it reach $3000?

[Simon54]

Gold prices are still stable in the range above $2600, trying to rise slowly, but are still consolidating near the middle band line. While waiting for US jobs data which may drive gold price volatility.

Yes, it looks steady. I believe it will surge more in the near future as Russia showed no fear post Trump warning to BRICS over 100% tariff which will add more to the Geopolitical tensions amid Russia & Ukraine war. Keeping an eye on the new developments.

 

[Zerologic]

Yes, it looks steady. I believe it will surge more in the near future as Russia showed no fear post Trump warning to BRICS over 100% tariff which will add more to the Geopolitical tensions amid Russia & Ukraine war. Keeping an eye on the new developments.

Trump seems to be emphasizing more protectionist policies, even though that could cause inflation because perhaps some US companies need raw materials from other countries, and which will increase production costs, and ultimately companies will increase product prices.

 

[ChelseaR]

Well, there is a chance the price may reach $3000 considering it is increasing slowly and right now it is $2627. But again, we will get some certainty after Fed’s conviction on the interest rates.

 

[Simon54]

Trump seems to be emphasizing more protectionist policies, even though that could cause inflation because perhaps some US companies need raw materials from other countries, and which will increase production costs, and ultimately companies will increase product prices.

Definitely! It will be interesting to see the new developments as there are so many speculations going around Trump and Tariff plans.

 

[Opak]

Do you think central bank policies or increasing global tensions will play a bigger role in driving prices up toward $3,000?

 

[Simon54]

Gold prices are still stable in the range above $2600, trying to rise slowly, but are still consolidating near the middle band line. While waiting for US jobs data which may drive gold price volatility.

I feel quite similar. However, I think another important factor driving fluctuations in gold prices could be the Fed's statement on rate cuts, which might significantly impact gold prices.

 

[Zerologic]

I feel quite similar. However, I think another important factor driving fluctuations in gold prices could be the Fed's statement on rate cuts, which might significantly impact gold prices.

Yes, agree, The Fed's interest rate cut should boost gold because investors prefer assets that do not provide returns if interest rates are low, but another factor is the Chinese economy which incidentally is one of the world's largest gold importers, if the Chinese economy is sluggish it could reduce demand for gold

 

[Simon54]

Gold is rising now due to Geopolitical concerns such as French govt collapse and Russia-Ukraine war and South Korea fake attempt to impose martial law.

 

[Zerologic]

Geopolitical risk is an issue in demand for safe-haven assets such as gold, many global central banks are also buying gold for reserves.

 

[Zerologic]

Gold is still trading above the $2600 price level, vulnerable geopolitical risks may push gold in the long term. A shaky ceasefire between Hezbollah and Israel, the Russia-Ukraine war that has no sign of ending, and other tensions in Syria.

 

[Simon54]

Agreed! These geopolitical risks could impact Gold prices to rise but I’ keeping an eye.

Gold is still trading above the $2600 price level, vulnerable geopolitical risks may push gold in the long term. A shaky ceasefire between Hezbollah and Israel, the Russia-Ukraine war that has no sign of ending, and other tensions in Syria.

 

[Zerologic]

Yesterday gold showed signs of rising by forming a higher high than the previous high, but gold may still face challenges from China's economic slowdown.

 

[Zerologic]

The price of gold has now moved up to around $2697, this is somewhat in contrast to Bitcoin which fell after reaching $100k, perhaps Bitcoin's profit-taking action is some investors looking for other assets including gold.

 

[Simon54]

I feel Gold prices are staying steady around $2700, mainly due to geopolitical risks and the forecasts about potential Fed rate cuts. It's definitely something I'm keeping an eye on.